GIGA Metals , formerly Hard Creek Nickel Corp

Discussion in 'Canadian Stocks Message Boards' started by shellybear, Feb 15, 2017.

  1. shellybear

    shellybear Member

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    Saw this one pop a little yesterday, and after taking a closer look, i see it is a nickel/cobalt play.
    Today up 110%, to close at .10 up .055 on the day.


    Hard Creek Nickel Corp. (TSX.V - HNC) Name has changed and symbol. NOW Giga Metals and symbol GIGA .v GIGA is developing the Turnagain Nickel deposit, a giant nickel sulphide deposit in north central British Columbia, Canada. A Preliminary Economic Assessment announced in October, 2011 models initial production of 52 million pounds of nickel and 2.8 million pounds of cobalt per year in a high quality, 18% nickel concentrate for sale to smelters. Production ramps up in year six to 97 million pounds of nickel plus 5.3 million pounds of cobalt per year for the next sixteen years. Financial metrics are competitive with every other large greenfields nickel project in the world.
     
    #1 shellybear, Feb 15, 2017
    Last edited: Nov 7, 2017
  2. shellybear

    shellybear Member

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    HNC.v backing off a bit . Read a post on SH , which stated the economics for this resource might not be so economic given the low grades.
    Cobalt is shown as .013 % per tonne. Apparently need to process 10 tons to get 1.5 lbs of cobalt.
    Must be better plays with a decent % of cobalt in the ore .
     
  3. shellybear

    shellybear Member

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    The market cap for this one , unbelievably low... at .09 it is about 1.5 million $ CAd
    Insitu value for cobalt alone would be 2.6 billion US$ at the current price of US20$ a lb , never mind the billions in nickel that accompany the cobalt.
     
  4. shellybear

    shellybear Member

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    I saw a post of SH by mouserman , clearing up the issue of how many shares are out and options and warrants.
    The market cap is actually about 4 million $ at the current share price of .09
    A lot of cheap shares and warrants around from that last financing , which was freetrading in August.
    25 million shares at .01 with warrants at .05
    This one still looks cheap at current price, but not nearly as big of a bargain as it appeared at the first look. The warrants now well into the money, and tho it will dilute and increase the shares outstanding , it will also put cash into the coffers.. if all were exercised would be over a million $.
    Perhaps that overhang of stock is playing some part in the disinterest shown so far in HNC, compared to other cobalt plays, many of which have only claims and cobalt in their name. As far as i can see HNC likely has the biggest cobalt resource of the canadian plays, even tho it may need higher nickel prices to be real economical. COBALT last priced at nearly 21$ US per lb.
     
    #4 shellybear, Feb 18, 2017
    Last edited: Feb 19, 2017
  5. Epicram

    Epicram Member

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    Both these stocks are great to invest in and earn huge profit.
     
  6. shellybear

    shellybear Member

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    Pullback of .02 today , as NAT BANk dumped 210,000 shares at market.
    I had a lowball bid in and got a partial fill. Hope it is simply under the radar and will open some eyes with a NR soon.
     
  7. shellybear

    shellybear Member

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    Dont think i will add any more here, until i see some volume . Very poorly promoted, when you consider HNC.v has more cobalt in proven resources than all of the venture so called cobalt plays combined . Most have claims only, or perhaps a loi to buy a cobalt processor at an undisclosed price. Really hard to figure here, altho it is in BC , which doesnt have a real mining friendly reputation.
     
  8. shellybear

    shellybear Member

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    Well i see today, most of the cobalt tsx-v plays and even those on the big board backed up a bit, and in some cases a lot.
    KAT.to down 33% ....
    HNC.v was one bright spot gaining 22% again to bounce back to a .09 close.
     
  9. Epicram

    Epicram Member

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    It seems to be good for the long term investors to buy this stocks.
     
  10. shellybear

    shellybear Member

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    Well Hard Creek nickel back down to .07 and picked up a few more , as this sector still looks positive to me.... i believe cobalt plays will enjoy a run similar to the lithium stocks last year.
     
  11. shellybear

    shellybear Member

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    Beginning to wonder if this is really worth the investment.... only took a few hundred thousand shares dumped to drop this to .06 today..... hmmmmm
     
  12. shellybear

    shellybear Member

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    Continued selling in this name today... but they had some minor news.

    Hard Creek Nickel accelerates warrant expiry to April 1



    2017-03-02 10:29 MT - News Release


    Mr. Mark Jarvis reports

    HARD CREEK NICKEL ACCELERATED WARRANT EXERCISE CLAUSE

    Hard Creek Nickel Corp.'s shares have traded at more than 6.5 cents per share for 10 consecutive trading days, and certain warrants will now be subject to their accelerated exercise clause. The warrants in question were repriced from an exercise price of eight cents per share preconsolidation (40 cents postconsolidation) to an exercise price of five cents postconsolidation, as detailed in a news release dated Nov. 16, 2015.

    The accelerated clause affects 1,686,693 warrants with an exercise price of five cents, which now expire April 1, 2017, instead of Nov. 27, 2017. A notice will be sent to all warrantholders advising them of the early warrant expiry date.
     
  13. shellybear

    shellybear Member

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    Well was fortunate to sell off some at .055 and .06 and then get filled with a stinker at .04
    Overall tho down on this cobalt play... would like to see the nickle prices bounce back, as this might light a fire under this stock, which needs a good nickel price, as it is the main metal revenue maker in their PEA. Cobalt prices are definitely cooperating, jumping up to 23.81 US per lb on friday. Up over 50% from Jan 1
     
    #13 shellybear, Mar 11, 2017
    Last edited: Mar 12, 2017
  14. shellybear

    shellybear Member

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    Thought i would update this thread. The company has changed its name to GIGA Metals and the symbol is GIGA.v as well.
    HNC did a 2 for 1 rollback ( reverse split) and had a subsequent financing at a post consolidated price of .06. It has since ran up bigtime, with improving metal inputs ( primarily nickel and cobalt). Stock hit a high of .48 before this pullback to .39 today. Still a 8 bagger for those that were buying it at .03 pre split.
     
  15. shellybear

    shellybear Member

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    GIGA metals just kept on rolling, and really wishing i had held onto half to let it run.o_O
    At .87 today....
     
  16. shellybear

    shellybear Member

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    GIGA has dropped a bit since last post, and i was expecting a financing given the high price and cobalt interest.


    Giga Metals arranges $2.04-million private placement



    2017-12-15 09:51 MT - News Release


    Mr. Mark Jarvis reports

    GIGA METALS ANNOUNCES PRIVATE PLACEMENT

    Giga Metals Corp. has arranged a non-brokered private placement of up to 3.4 million units at a price of 60 cents per unit for total gross proceeds of up to $2.04-million.

    Each unit will consist of one share and one-half warrant. The warrants will have a term of three years from the date of closing and each full warrant will be exercisable for one new share at a price of 70 cents.

    Finder's fees may be payable on some or all of the units placed. The finder's fees will consist of 6 per cent of the gross cash proceeds payable in cash and finder's warrants equal to 6 per cent of the units placed. Each finder's warrant will be exercisable at 70 cents for a term of one year after the closing date of the private placement.

    Subscriptions for 1,753,400 units have been received by the company, representing gross proceeds of $1,052,040, and the first tranche of the financing is expected to close next week.

    Use of proceeds will be for general corporate purposes, metallurgical and engineering studies of the company's Turnagain project and for potential acquisitions in the battery materials space.

    The financing is subject to regulatory approval.
     

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