• Giga has been relatively inactive since our last update in late 2023. However, in December 2024, it announced the receipt of a report from a prominent geologist highlighting the potential for high-grade targets within its Turnagain nickel project in B.C. The report identified several promising targets, and recommended a comprehensive exploration program, including gravity surveys, ground-based electromagnetic surveys, and drilling.
  • We consider this a positive development, as even a slight increase in grades can significantly boost the NPV and IRR of large nickel projects. For perspective, we note that the EV/lb of juniors with high grades (>1%) is at least 10x that of juniors with low grades (<0.4%).