Resource Junior Jumps on Golden Triangle Assays

Garibaldi Resources (TSXV:GGI), a resource junior, powered higher after announcing results from its Nickel Mountain project

Sean Mason | February 21, 2020 | SmallCapPower

Golden Triangle drill results sparked interest in shares of a resource junior Friday. Here’s some small stocks making big moves on Friday, February 21, 2020 (as of 4 pm EST):

Garibaldi Resources (TSXV:GGI) shares climbed 9% to $0.93 on Friday after the resource junior announced drill results from its Nickel Mountain project in British Columbia’s Golden Triangle region, which included 9.83 meters of massive sulphides grading 7.2% nickel, 3.6% copper and 4.8 g/t of palladium, platinum and gold combined, within 32.75 meters of 2.7% nickel and 1.6% copper.

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As well, shares of Hudbay Minerals Inc. (TSX:HBM) slipped 13% to $3.76 as the miner said its Q4 revenue declined 8% year over year, as a result lower realized base metals prices.

Eldorado Gold Corporation (TSX:ELD), meanwhile, reported that it expects gold production to increase 35% in 2020 to 520,000 to 550,000 ounces and added that its Kisladag mine life has been extended by 15 years through 2034. Eldorado Gold stock popped 31% to $13.10 following the announcement.

Finally, Sun Metals Corp. (TSXV:SUNM) shares rose 15% to $0.115 after the junior explorer announced that it has begun the 2020 exploration program at 100% owned Stardust project in British Columbia.

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

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