Base Metals Explorer Climbs on Nickel, Copper Results

Garibaldi Resources (TSXV:GGI), a base metals explorer, moved higher after announcing assay results from its Nickel Mountain project

Sean Mason | September 12, 2019 | SmallCapPower

More than a few speculators took a shine to copper and nickel assay results from a base metals explorer Thursday. Here’s some small stocks making big moves on Thursday, September 12, 2019 (as of 4 pm EST):

Garibaldi Resources (TSXV:GGI) shares gained 10% to $1.82 on Thursday after the base metals explorer announced additional assay results from the 2019 diamond drilling program at its Nickel Mountain project in British Columbia, which included 18.2 meters of 7.04% nickel and 3.81% copper.

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As well, shares of Eskay Mining Corp. (TSXV:ESK) rose 30% to $0.13 as the junior explorer said its President and CEO, Hugh Balkam, has increased his ownership interest in the Company by more than 2%.

Western Magnesium Corporation (TSXV:WMG), meanwhile, reported that it intends to complete a US$5 million non-brokered private placement with a U.S.-based private investment firm at a price of US$0.25 per unit. Western Magnesium stock moved up 15% to $0.195 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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