Garibaldi Resources Corp. (GGI, TSX-V) Update
After reporting bonanza grade Silver results from the very first hole at the Silver Eagle target at the Rodadero North Project in Mexico May 14, it’s likely safe to assume that an update from GGI regarding Rodadero can’t be far off…we’re optimistic regarding Rodadero given the science behind the selection of targets there, and confirmation of promising Hyperspectral signatures from surface sampling…keep in mind, it was through the use of Hyperspectral Remote Sensing Technology that allowed GGI to cash in on the Temoris option in 2009 (sold to Paramount Gold & Silver, PZG, TSX & AMEX) which has emerged as an important piece of ground for Paramount with impressive high-grade drill intercepts…
The 10-year GGI chart remains potentially very explosive with the overall bullish trend continuing to gain strength…Fib. support has held at 21 cents (immediately above the rising 50 and 100-day SMA’s which have converged at 20 cents) on the healthy pullback from the recent multi-year intra-day high of 28 cents (May 20-21)…RSI(14) at 60% on this long-term chart is following an uptrend line and has plenty of room to head higher…for various technical and fundamental reasons, it appears that GGI’s 475% move from last year’s low of 4 cents could be just the first stage of a very dramatic run if success continues in both Mexico and B.C. for this well-run company…as always, perform your own due diligence…
After reporting bonanza grade Silver results from the very first hole at the Silver Eagle target at the Rodadero North Project in Mexico May 14, it’s likely safe to assume that an update from GGI regarding Rodadero can’t be far off…we’re optimistic regarding Rodadero given the science behind the selection of targets there, and confirmation of promising Hyperspectral signatures from surface sampling…keep in mind, it was through the use of Hyperspectral Remote Sensing Technology that allowed GGI to cash in on the Temoris option in 2009 (sold to Paramount Gold & Silver, PZG, TSX & AMEX) which has emerged as an important piece of ground for Paramount with impressive high-grade drill intercepts…
The 10-year GGI chart remains potentially very explosive with the overall bullish trend continuing to gain strength…Fib. support has held at 21 cents (immediately above the rising 50 and 100-day SMA’s which have converged at 20 cents) on the healthy pullback from the recent multi-year intra-day high of 28 cents (May 20-21)…RSI(14) at 60% on this long-term chart is following an uptrend line and has plenty of room to head higher…for various technical and fundamental reasons, it appears that GGI’s 475% move from last year’s low of 4 cents could be just the first stage of a very dramatic run if success continues in both Mexico and B.C. for this well-run company…as always, perform your own due diligence…
