Agoracom Blog

AGORACOM Client Garibaldi Resources Stock Up 40% Since Jan. 1, 2010

Posted by AGORACOM at 4:19 PM on Tuesday, January 19th, 2010

Garibaldi Resources Corp. (GGI: TSX-V) stock has traded with a lot of momentum in 2010 and closed today at a new 52 week high of 24.5 cents. In fact, during today’s trading the stock hit an intra-day high of 29.5 cents.

Here is a 2 week chart on Garibaldi Resources Corp. (GGI: TSX-V)


As an AGORACOM client, assume I’m horribly conflicted but here are some reasons as to why Garibaldi is off to a strong start in 2010:

  • Garibaldi Resources recently consummated a deal with Paramount Gold and Silver Corp (NYSE/TSX.PZG) where Garibaldi sold its option interest in the 54,000 hectare Temoris Concessions, in Chihuahua State, Mexico for $US 400,000 in cash and was issued  6,000,000 shares in Paramount’s capital.
  • On Jan 14, 2010 PZG traded over $2.00 for the first time since May 2008. GGI’s marketable security position from this transaction with PZG gives the Company approximately a $12 million cash value.
  • GGI has 49 million shares issued and outstanding which translates into a net cash value $.22 per share the on this asset alone.
  • Every $1.00 increase in PZG price adds an additional (minimum) $5 million to GGI’s operational/ exploration budget.

Garibaldi Resources Corp. Profile

Garibaldi Resources Corp. IR Hub

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