Gainey Capital (GNC.V) has announced it has signed a letter of intent with Garibaldi Resources (GGI.V) whereby the latter will be allowed to process its ore from the La Patilla project at Gainey’s mill which is just 65 kilometers away.
This could be a win-win situation for both companies as Gainey gets its hands on more ore to be processed through its facility whilst Garibaldi now has a clear path to generate a meaningful operating cash flow which will allow the company to continue its exploration activities.
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Disclosure: The author holds no position in either Gainey or Garibaldi. Please see our disclaimer for current positions.
