NEW JERSEY (Commodity Online) : Garibaldi Resources Corp. (GGI.V) could have the potential to trade substantially higher than $0.40 in the near-future, according to National Inflation Association (NIA).
GGI’s updated ownership in Paramount Gold and Silver (PZG) is 4,312,300 shares and PZG’s latest share price is $3.60. GGI’s shares in PZG are now worth $15.52 million.
GGI’s latest shares outstanding are 50,557,864 giving it a market cap at $0.34 of $17.19 million.
If one takes the value of GGI’s PZG shares, add in GGI’s cash position of $288,729, and subtract it from GGI’s market cap, the market is valuing all of GGI’s gold and silver exploration properties at a combined $1.681 million.
GGI has seven district scale projects covering more than 2,500 square kilometres of strategically located concessions close to some of the most robust gold and silver mining projects ever discovered in Mexico.
GGI’s projects are worth substantially more than $1.681 million, believes NIA.
One of GGI’s projects in particular is a project that NIA believe could be worth many times $1.681 million on its own. GGI’s Morelos concessions in Chihuahua State, Mexico cover approximately 40,000 hectares and are located 25 kilometres southeast of Goldcorp (GG)’s El Sauzal mine. GG’s El Sauzal mine produced approximately 204,000 ounces of gold in 2009 worth about $277 million at current gold prices.
Using ASTER-SWIR satellite imaging, GGI has been able to outline a cluster of silica anomalies on their Morelos concessions that are remarkably similar to the one underlying El Sauzal.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
