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Gold has traded in a range of $1,452 to $1,472 so far today…as of 8:45 am Pacific, the yellow metal is up $10 an ounce at $1,467…Silver is 63 cents higher at $41.29 while the U.S. Dollar Index is down slightly at 74.81…Oil has reversed to the upside, gaining 29 cents to $107.40…U.S. jobless claims rose more than expected last week, bouncing back above the key 400,000 level…economists polled by Reuters had forecast claims slipping to 380,000…the four-week moving average of unemployment claims, a better measure of underlying trends, climbed 5,500 to 395,750…meanwhile, U.S. wholesale prices rose a seasonally adjusted 0.7% in March, slightly below expectations but continuing an upward trajectory…the core rate, which excludes the volatile food and energy categories, rose 0.3% which was above the 0.2% rate most economists were expecting…first quarter U.S. economic growth will be lower than most people expect because of continued problems in the housing market – that’s the view of Pimco Chief Executive Mohamed El-Erian who was interviewed by CNBC this morning…if the Pimco chief is proven correct, Fed Chairman Ben Bernanke may see the need to extend quantitative easing measures beyond June which of course would be bullish for commodities…the CDNX is down 4 points at 2298…over the last few days it has erased all the gains of last week (91 points or 4%)…the 20-day moving average (SMA) continues to rise, however, and there is a line of strong support at 2280 which is also just above the rising 100-day SMA…so we see no reason for panic, even though the extent of the pullback this week has been surprising…Gold Canyon Resources (GCU, TSX-V) released more stellar results this morning from its Springpole Project, 110 kilometres northeast of the Red Lake Mining camp…four of the five holes released this morning showed 100+ metre intervals grading better than 1 g/t Au near-surface including 132 metres of 1.37 g/t Au in #49, a vertical infill hole testing the southeastern part of the Portage Zone…hole #46, a step-out hole to the south, did not intersect the core of the Portage Zone as hoped but likely passed over the top…the best interval was 68.5 metres grading 0.81 g/t Au (from 238 to 306.5 metres depth)…this area to the south will be tested at deeper levels as there does seem to be something going on at depth…results from 10 more holes from the winter program are still pending and the first hole in a series of deep holes is now underway to test the Portage Zone at vertical depths of 500 to 600 metres…this is shaping up to be a major deposit with the mining analyst at Fraser McKenzie projecting at least 5.5 million ounces of Gold…GCU also reported appreciable values of Silver in numerous holes this morning…GCU is currently off 18 cents at $3.52 in a typical “sell on news” reaction…it has strong support…Osisko Mining (OSK, TSX) has poured its first Gold bar at Canadian Malartic and is on track to achieve commercial production by the end of next month, six years after the company drilled its first hole at the property…global measured and indicated resources above a cut-off grade of 0.3 g/t Au at Malartic have increased to 11.8 million ounces…about an hour’s drive west down the Golden Highway, drilling continues in the LONG Bars Zone of Gold Bullion Development’s (GBB, TSX-V) Granada Gold Property which is another major open-pit deposit in the making along the Cadillac Trend – and for only 53 cents a share…GBB is currently up 2 pennies from yesterday…the weakness the last few days in Visible Gold Mines (VGD, TSX-V) has been surprising with the stock off another 1.5 cents this morning to 37.5 cents…VGD is in a strong zone of technical support, however, so we’re not expecting it to hover around these levels for very long…we’ve spent a lot of time in northwestern Quebec over the past year and we can state with a high level of confidence that Visible Gold Mines is going to emerge as one of the most exciting exploration companies in the area…all the ingredients are there for this company to become a major success…White Tiger Mining (WTC, TSX-V) is holding steady at 75 cents on relatively light volume as investors eagerly wait for assay results from holes #21 and #23 at the Marshall Lake Property (copper-Silver-Gold) in northern Ontario…the sensible low-risk approach is to wait for these assays to be reported and if they’re outstanding, which is possible, it won’t be too late to join the party…WTC’s current market cap is $11.5 million…it has an opportunity to earn up to 75% in Marshall Lake…Spanish Mountain Gold (SPA, TSX-V), which we haven’t mentioned for quite some time, has been showing strength recently and is up 8 cents this morning to 68 cents on over 2 million shares…SPA got a buy recommendation on CNBC this morning (“cheapest in-the-ground Gold in the world”) as it continues to build an impressive resource (low grade but high tonnage) at its Gold property in British Columbia…SPA’s 50-day SMA has reversed to the upside today, so this is suddenly looking much better from a technical perspective…

After dropping as low as $1,443 yesterday, Gold is firmer today on bargain hunting…as of 8:30 am Pacific, the yellow metal is up $5 an ounce at $1,459…Silver remains above $40 at $40.64, a 53-cent increase over yesterday…crude oil, after getting smacked hard the last couple of days on a seemingly strange sell recommendation from Goldman Sachs, has climbed 94 cents to $107.19…the U.S. Dollar Index is flat at 74.83…Following Goldman Sachs’ negative call on crude prices which took the wind out of the commodities’ rally Monday, Bank of America Merrill Lynch is predicting a 30% chance that Brent crude could hit $160 a barrel in 2011…“Commodity prices should move broadly higher in 2011 on robust economic growth in emerging markets, despite relatively weaker growth in developed markets,” said Sabine Schels, a commodity strategist at Bank of America Merrill Lynch in London in a research note…sales at U.S. retailers rose slightly less than expected in March as rising gasoline prices pulled spending away from other segments and receipts from auto dealerships fell, a government report shows this morning, pointing to slower U.S. consumer spending in the first quarter…total retail sales increased 0.4 percent, a ninth straight month of gains, the Commerce Department said today…March’s reading was the weakest since June when sales fell 0.3 percent…the U.S. lacks a “credible strategy” to stabilize its mounting public debt, posing a small but significant risk of a new global economic crisis, says the International Monetary Fund…in an unusually stern rebuke to its largest shareholder, the IMF said the U.S. was the only advanced economy to be increasing its underlying budget deficit in 2011 at a time when its economy was growing fast enough to reduce borrowing…to meet the 2010 pledge by the Group of 20 countries for all advanced economies – except Japan – to halve their deficits by 2013, the U.S. would need to implement tougher austerity measures than in any two-year period since records began in 1960, the IMF said…expect House Republicans to keep President Obama’s feet to the fire regarding the debt ceiling, the deficit and the debt as these issues begin to really start coming into the spotlight…the CDNX is trying to bounce back after two very weak days…the Index dropped 85 points Monday and yesterday after touching nearly 2400 right after the opening bell Monday…the 20-day moving average (SMA), which just recently reversed to the upside which is a bullish development, is providing technical support at the 2300 level…this market has shown tremendous resiliency over the past month and with Gold remaining in an uptrend we continue to be optimistic as the last half of April approaches…as of 8:30 am Pacific, the CDNX is ahead 16 points to 2320…Everton Resources (EVR, TSX-V) hit a new 52-week high of 44 cents this morning after the company released results from 16 holes from the La Lechoza prospect at its APV Property adjacent to the Barrick-Goldcorp Pueblo Viejo deposit…hole #30 was impressive with a near-surface intersection of 10.50 metres (12.50 to 23 metres depth) grading 2.29 g/t Au, 65 g/t Ag, 0.64% Cu and 3.43% zinc…assay results are still pending for most of that hole (30.50 metres to 147.50 metres)…the deep drilling program at APV designed to test the theory of deep mineralization covered by a barren silica lithocap started three weeks ago…plenty of potential at this property for Everton with much work ahead…the stock has consistently run into resistance around the 40-cent level…we believe it’s just a matter of time before that is overcome…EVR has pulled back from its high this morning and is currently up 2.5 cents at 40 cents on volume of nearly 600,000 shares…patient investors have an excellent opportunity with that play in our view…the same applies with GoldQuest Mining (GQC, TSX-V) which has yet to release initial assays from drilling at its highly prospective La Escandalosa Project in the DR…we’re confident that project will deliver…GQC has been trading in the low 30’s recently, several pennies above its rising 300-day SMA which provides excellent support…Gold Bullion Development (GBB, TSX-V) is up three pennies to 53 cents after a successful test of the 50-cent level in yesterday’s market weakness…GBB’s announced planned spin-off of its Castle Silver Mine Property is a very positive development…Gold Canyon Resources (GCU, TSX-V), which we’ve mentioned quite frequently over the past month, staged a powerful intra-day reversal yesterday as it hit of low of $3.35 (strong support area) during the market “panic” and then rallied to close at $3.69…that was an 11-cent loss for the day but the turnaround was impressive and bullish from a technical standpoint…GCU is currently off 3 pennies at $3.66…the stock hit an all-time high of $4.22 last week…the 20% correction was normal corrective action in an ongoing overall uptrend that could take GCU much higher considering the 5+ million ounce potential of its Springpole Project, 110 kilometres northeast of the Red Lake mining camp…Visible Gold Mines (VGD, TSX-V) is off half a penny at 39 cents…mark our words – VGD is going to become one of the most exciting exploration plays in northwest Quebec this year…it is guided by strong management and an astute geological team led by Robert Sansfacon who played a key role in the discovery of Osisko’s (OSK, TSX) Canadian Malartic deposit…with $8 million in cash and over 20,000 hectares of land already under its control (drill programs at two properties are in progress), Visible Gold Mines is well positioned to make a significant discovery…we expect this aggressive company to pull the trigger on additional land acquisitions as well…White Tiger Mining (WTC, TSX-V) is quiet this morning, unchanged at 80 cents…the stock has strong technical support around the 70-cent level as demonstrated yesterday when it recovered after falling as low as 71 cents…if assay results turn out to be outstanding for holes RMZ-21 and RMZ-23, it still won’t be too late to get in on the party with this one…in the near future we’ll start to explore in more detail the opportunities we see in the exciting Blackwater Gold District where Richfield Ventures (RVC, TSX-V) has a major deposit on its hands with a buyout offer as well from New Gold Inc. (NGD, TSX)…it’s our intention to make a trip to the Blackwater area by early June…investors interested in holding a producer should do some serious due diligence on New Gold which is putting out very impressive numbers these days that are exceeding many analysts’ expectations…

Markets are getting hit hard across the board today…Gold was as high as $1,468 overnight but fell as low as $1,443 within the last hour…as of 7:45 am Pacific, the yellow metal is down $10 an ounce at $1,453…Silver has been volatile as well but is currently unchanged at $40.22…crude oil is off another $3.52 per barrel to $106.40 while the U.S. Dollar Index continues to weaken…it’s off one quarter of a point to 74.82…for what it’s worth (they’ve been wrong before), Goldman Sachs is now advising clients to cash out of oil which contributed to crude’s drop yesterday and more selling today…Goldman advised investors to close the “CCCP basket” trade it recommended in December, which encompasses bets on rising oil, copper and other commodity prices, according to a report from Reuters…the trade has returned clients 25% in four months…”Although we believe that on a 12-month horizon the CCCP basket still has upside potential, in the near term risk-reward no longer favors being long the basket,” Goldman’s commodity team, led by Jeffrey Currie in London, said in a note…the International Energy Agency stated yesterday that high oil prices are beginning to dent oil demand growth…however, tight supply remains an issue…”Hypothetically, if global supply were to chug along at March levels for the rest of 2011, OECD inventories could slip to near five-year lows by December”, the Agency stated…profit taking came into the CDNX yesterday as the Index fell for the first time in nine sessions, shedding 42 points to 2447…but the Index is off another 45 points this morning as of 7:35 Pacific to 2301 with commodity softness and weakness in New York and Toronto…2300 is a major support area that the Venture really needs to hold on a closing basis…Richfield Ventures (RVC, TSX-V) released results on nine more holes this morning from its Blackwater Project in central British Columbia…holes #127 and #129 “greatly enhance the potential of the southwestern part of the deposit,” stated Peter Bernier, President and CEO…#127 returned an interval (from 52 to 104 metres depth) grading 2.95 g/t Au and 30.4 g/t Ag (it also ended in good mineralization) while #129 cut 124 metres (from 179 to 303 metres depth) grading 1.89 g/t Au and 19.5 g/t Ag…Richfield and New Gold Inc. (NGD, TSX) announced a plan of arrangement April 4 whereby New Gold would acquire Richfield in an all-stock transaction (0.9217 of a New Gold share for each Richfield share)…since the buyout deal was announced, New Gold has dropped from $11.26 to $10.04 …Richfield is accordingly off 49 cents this morning to $9.21…good news from Gold Bullion Development (GBB, TSX-V) yesterday as the company announced after the close that it intends to spin off its Castle Silver Mine asset into a separate publicly traded company…GBB has also engaged GENIVAR to prepare a technical report for the property…a 6,000 metre drill program continues at Castle which has silver, cobalt, copper and nickel potential…spinning off the Castle project is a strategically wise move on Gold Bullion’s part and will also help unlock the value of that asset…Castle is a former significant silver and cobalt producer…GBB is currently unchanged at 53 cents…Visible Gold Mines (VGD, TSX-V) is off half a penny at 40.5 cents…with a strong cash position ($8 million or 17 cents per share) and an aggressive game plan we expect Visible Gold to soon emerge as an exploration leader in northwestern Quebec where it’s currently drilling two properties and has others in the pipeline including the recently acquired past producing Joutel Property…VGD has cut a deal for a 50% interest in that project from Agnico-Eagle Mines (AEM, TSX)…from a technical standpoint, the stock has tremendous support at the 200-day moving average (SMA) of 40 cents while the 50-day SMA has just reversed to the upside which is a very positive development…

This picture was taken very close to the Cadillac Break Property now being drilled by Visible Gold Mines (VGD 60%, CQX 40%) which we recently visited - four holes are testing for an extension of Vantex Resources' Moriss Zone discovery. The sign points the way to two famous mining communities, Rouyn-Noranda (east) and Kirkland Lake (west).

White Tiger Mining (WTC, TSX-V) is down 9 cents to 74 cents…visuals released on hole #23 yesterday from its Marshall Lake Property in northern Ontario are very encouraging and the stock hit an all-time high of 98 cents yesterday…it had support at 80 cents and now the next major area of technical support is in the upper 60’s to 70 cents…Great Panther Silver (GPR, TSX) has has closed the bought-deal financing it announced March 24 at $4.20 per share, raising $24.15 million with the overallotment option exercised… GPR is currently down 18 cents at $3.80…

Tonight we’re pleased to present Part 2 of our recent interview with Cadillac Mining (CQX, TSX-V) President and CEO Victor Erickson.

Our discussion with Vic in Part 2, which runs 19 minutes, focuses on the company’s important recent acquisition of an entire former mining camp in southwestern Utah featuring the past producing Goldstrike Mine (Gold and Silver) and surrounding area.  This project has outstanding potential near-surface and at depth.  At the moment the company continues to sort through an immense amount of valuable data in preparation for a major drill program later this year.

Cadillac, of course, is also active in northwestern Quebec where drilling is now underway on its land package (40% Cadillac, 60% Visible Gold Mines immediately adjacent to Vantex Resources‘ (VAX, TSX-V) Moriss’ Zone discovery at the Galloway Project.  Cadillac also holds a 100% interest in four strategic claims that adjoin Richmont Mines‘ (RIC, TSX) growing Wasamac deposit (Cadillac is currently finalizing exploration plans for its “Wasa” claims).

To listen to Part 2 of Jon’s interview with the Cadillac President and CEO, simply click on the link below:
Cadillac Mining CEO Interview Part 2

Note:  The writer and interviewer holds a position in Cadillac Mining. Please read our disclaimer.  Cadillac Mining has paid no fee or compensation for this interview in accordance with BMR policy.

Welcome to our site, or at least the initial version of it!  BMR has been online for over a year now and strictly through word-of-mouth we have built a large and loyal following. 

We’re continuing with our plans to ultimately build a very unique investment and money-management resource site that goes considerably beyond what we have now.    An important component of this site will always be original research on small and undiscovered junior resource companies, mostly in the Gold exploration space, that offer very real and significant upside potential. We are extremely selective in the companies we feature and put forward to investors – we prefer quality over quantity.

We use a combination of fundamental and technical factors in determining the value and potential of a stock.  In terms of fundamentals we look for a company with a superb project supported by strong management.  Management must possess integrity, solid ethics and a determination to succeed and build shareholder value.

At BullMarketRun (BMR) we approach the handling of money from a biblical perspective and this is an important topic we will be sharing with our readers (and listeners) as the site continues to develop. The Bible teaches so much about money and how to handle it and invest it –  there are literally thousands of verses on how we should handle the money and possessions that God entrusts us with.  By examining the life of Jesus and reading the Word of God, we can all become fully equipped to be successful investors and handle money wisely in order to make it work for us.  If it’s the other way around –  if you’re a slave to money by being in debt for instance, or if you don’t respect the value of money and spend it foolishly –  you’re in trouble and you’ll never be blessed financially.  We have a God who thinks big – He created the universe – and He wants us to think big  in every area of our lives.  When we handle money from a Biblical perpective (His money that we have been given stewardship of) He will bless our financial decisions and an increase of tenfold or a hundredfold is always possible.  This all begins, of course, with a personal relationship with Jesus Christ by accepting Him as your Lord and Savior and putting Him at the throne of your life.  It is the most important decision you’ll ever make.

God Bless,

Terry Dyer

Owner/Publisher, www.BullMarketRun.com

Gold is seeing some mild profit taking today…as of 9:00 am Pacific, the yellow metal is down $6 an ounce at $1,469…it has traded between $1,464 and $1,477 so far today…Silver’s advance continues…it hit a fresh 31-year high overnight of $41.98…it’s currently up 18 cents at $41.11 …crude oil has pulled back $1.19 to $111.60 after a strong advance Friday…the struggling U.S. Dollar Index is essentially unchanged at 74.93…the CDNX, which climbed 4% last week, is currently off 9 points at 2380 after a gap up to 2399 this morning…it came within one-third of a point of 2400 before pulling back on profit taking…White Tiger Mining (WTC, TSX-V), which we first mentioned here last Tuesday, has resumed trading this morning after being halted since late in the session Thursday pending news…the news from its Marshall Lake copper-Silver-Gold Property in northern Ontario is very positive but the stock has been volatile this morning…after opening at 91 cents, it climbed to 94 cents, fell to 81 cents, and then raced back up to 98 cents before falling back again…it’s currently up a penny at 82 cents…White Tiger, which can earn up to a 75% interest in Marshall Lake, has announced that a second drill hole (RMZ-11-23), collared 25 metres south of RMZ-11-21 reported last Tuesday which kicked off a frenzy of activity in the stock, has confirmed the chalcopyrite zones encountered in RMZ-11-21 based on visual analysis…RMZ-11-23 was drilled at the same azimuth and dip angle as RMZ-11-21 and 25 metres to the south in order to test the true width of the zones encountered in the first hole…White Tiger now says hole #23 is the longest and most continuous drill intersection it has produced so far at Marshall Lake, exceeding that of hole #21…the original RM Zone discovery hole is located 300 metres northeast of RMZ-11-21…it’ll be very interesting watching how this one unfolds in the coming days and weeks…Visible Gold Mines (VGD, TSX-V) is up half a penny at 42 cents on volume of nearly 700,000 shares…VGD is in the “sweet spot” for accumulation as it’s trading just above very strong technical support at 40 cents with a 50-day moving average (SMA) that is now reversing to the upside, ending a decline that started over three months ago…that is a technical buy signal, so for some it’ll be time to back up the truck and load up…VGD is rapidly emerging as one of the most aggressive exploration companies in northwestern Quebec where it currently holds an attractive land package totaling approximately 20,000 hectares…it has two drill programs in progress at the moment with initial assay results from its Silidor Gold Property imminent…with $8 million in the treasury and a very skilled management and geological group, we’re expecting big things out of this company which also just recently cut a deal with Agnico-Eagle Mines (AEM, TSX) on the past producing Joutel Property 150 kilometers north of Rouyn-Noranda…Robert Sansfacon, the senior geologist for VGD, was instrumental in the discovery of Osisko’s (OSK, TSX) Canadian Malartic deposit…Gold Bullion Development (GBB, TSX-V) is up 2 pennies at 55 cents…while GBB has some overhead resistance to battle though, it’s nice to see that sentiment has shifted after the stock fell as low as 35 cents March 15…investors should keep focused on the fundamentals with this one as the case continues to build for a potential multi-million ounce deposit at Granada…Currie Rose Resources (CUI, TSX-V) is looking a lot healthier these days from a technical standpoint and the stock is up another 2.5 cents this morning to 20 cents on over a million shares…the company will be starting a major exploration program at its properties in Tanzania during this second quarter…Abcourt Mines (ABI, TSX-V) continues to gain strength after dropping as low as 16.5 cents last week…there’s heavy volume in Abcourt this morning with the stock ahead 1.5 cents at 21 cents…Cadillac Mining (CQX-TSX-V) remains quiet (for now) as investors wait for news regarding the company’s planned drill program at its “Wasa” claims which adjoin Richmont’ Mines’ (RIC, TSX) growing Wasamac deposit near Rouyn-Noranda…in the meantime, however, there is drilling now taking place on Cadillac ground…as reported Friday by Visible Gold Mines, VGD has started drilling within 800 metres of Vantex Resources‘ (VAX, TSX-V) Moriss Zone discovery at that company’s Galloway Project…this is part of the ground that VGD optioned from Cadillac last December with CQX still holding a 40% interest…the Cadillac chart is starting to look more promising for the near-term as John outlines below…the stock is currently down a penny at 22 cents…

Levon Resources (LVN, TSX-V), a Silver, Gold and base metal play we’ve been mentioning recently, announced a $30 million bought deal financing at $1.95 before the market opened this morning…less than three hours later the company issued another news release, stating the size of the offering has been increased to $40 million…the deal is expected to close on or before May 10…Levon is certainly a company to keep an eye on…it’s off 15 cents on the news at $2.00…Wildcat Silver (WS, TSX-V), another situation we like, is up 8 more cents this morning to $2.99 (it hit a new all-time high of $3.16) but it has become quite overbought technically so it could be ready for a short rest to allow for some unwinding of that overbought condition…Great Panther Silver (GPR, TSX) is off 2 pennies at $4.08 but the chart looks promising and GPR could be in the early stages of a new uptrend…a financing is expected to close this week…

7:15 am Pacific

White Tiger Mining Corp. (WTC, TSX-V) and Rainy Mountain Royalty Corp. (ROM, TSX-V) were both halted late in the trading session Thursday with news released shortly after the opening bell this morning.  Trading resumes in both companies at 7:30 am Pacific.

White Tiger, which can earn up to a 75% interest in the project, has announced that a second drill hole (RMZ-11-23), collared 25 metres south of RMZ-11-21 reported last Tuesday which kicked off a frenzy of activity in the stock, has confirmed the chalcopyrite zones encountered in RMZ-11-21 based on visual analysis.

RMZ-11-23 was drilled at the same azimuth and dip angle as RMZ-11-21 and 25 metres to the south in order to test the true width of the zones encountered in the first hole. White Tiger now says hole #23 is the longest and most continuous drill intersection it has produced so far at Marshall Lake, exceeding that of hole #21.

The original RM Zone discovery hole is located 300 metres northeast of RMZ-11-21.

White Tiger last traded at 80 cents Thursday.  It has 15.3 million shares outstanding.  Investor interest in this play will remain high, especially with speculation regarding pending assay results, but one should expect volatile trading activity.

Visible Gold Mines (VGD, TSX-V)

Visible Gold Mines is the newest member of our most closely followed group of companies and it’s a very special situation with powerful potential…VGD finished the week on a strong note when news came out Friday morning concerning drill programs at two of the company’s properties and an initial NI-43-101 resource estimate for its Stadacona-East Gold Property…on the sixth highest volume day (974,000 shares) in its nearly four-year CDNX history, Visible Gold Mines gained a penny-and-a-half to close at 41.5 cents…we love the VGD chart because it shows strong very support at 40 cents and a potential imminent breakout above a symmetrical triangle within which there has been significant accumulation…in addition, the 50-day moving average (SMA) is just now reversing to the upside, ending a decline that started at the beginning of January…a change of trend definitely appears to be underway…

We started our due diligence on Visible Gold Mines nearly three months ago during a visit to Rouyn-Noranda…the President and CEO of VGD is Martin Dallaire, a very successful entrepreneur in that city with an engineering degree who understands the mining industry and what an exploration company needs to do to succeed in a huge way…Dallaire is fluently bilingual, presents himself extremely well and knows how to run a business and make money…he thinks big but is focused…he has also recruited some key people including Robert Sansfacon, one of the most respected geologists in the country who honed his skills for many years with Lac Minerals…Sansfacon played a critical role in the discovery of Osisko’s (OSK, TSX) Canadian Malartic deposit…in short, Dallaire has put something together you don’t often see in the junior speculative market – a powerful dynamic of business, geological and marketing expertise with a strategic plan to rapidly build shareholder value…he wants Visible Gold Mines to quickly emerge as an exploration leader in its area…the company’s niche and sole geological focus is northwestern Quebec where it has acquired several promising land packages, mostly west and north of Rouyn-Noranda…Dallaire is taking an aggressive approach to exploration and is currently armed with $8 million in working capital (17.5 cents per share)…he’s targeting under-explored areas and past producing mines where major new extensions are possible…two drill programs are in progress and initial assays are expected in the near future from the Silidor Property where a high-grade Gold discovery was made last summer in field exploration, 950 metres from the former Silidor Mine…21 holes (nearly 5,000 metres of drilling) have been completed so far at Silidor…On March 31 the company announced a deal with Agnico-Eagle Mines (AEM, TSX) that we like a lot…VGD has acquired an option to earn a 50% interest in the Joutel Property, 150 kilometres north of Rouyn-Noranda, which gave birth to Agnico-Eagle in the early 1970′s…Joutel’s Eagle and Telbel mines produced over 1 million ounces of Gold at a grade of 6 g/t Au and some Silver between 1973 and 1993 (Agnico Mines merged with Eagle Mines Ltd. in 1972, allowing for the development of Eagle Mines’ Joutel mining complex)…Agnico-Eagle closed the mine prematurely in the early 90′s in order to concentrate its efforts on the massive LaRonde Mine…the fact it would cut a deal with VGD on Joutel speaks volumes about their confidence in this junior…if anyone can unlock the value of Joutel, it would be Sansfacon…VGD’s exploration there could turn into a very exciting story…

GoldQuest Mining (GQX, TSX-V)

GoldQuest closed Friday at 32 cents, dropping 4 pennies for the second straight week…we’re not concerned about GoldQuest, however, as the underlying fundamentals are strong…interestingly, since early February, the stock has given up half the gains it enjoyed from the beginning of September to the February 7 high of 48.5 cents…that’s a very normal pullback after a nearly five-fold increase in the stock price over just five months, so one has to keep things in perspective…the prospects for GQC this year are very bright given the company’s pipeline of quality Gold projects in the Dominican Republic where a mining boom is clearly in full swing…GoldQuest has been conducting a Phase 2 drill program at its promising La Escandalosa Property in the DR since mid-December and initial results are expected soon…based on the success of the last drill program, GoldQuest is getting closer to the centre of the mineralizing system at Escandalosa and we’re expecting results that could ultimately elevate this project to the 1 million+ ounce category…400,000 inferred ounces have already been outlined (NI-43-101) based on just 25 drill holes (it’s important to note the 43-101 was done at an early stage)…approximately 40 holes are being drilled in the current program…Escandalosa is a flat-lying, near-surface deposit where the Gold should be easy to extract…as Chairman Bill Fisher told us in a February interview, “the economics could be really quite compelling”…proving up a 1 million ounce deposit at Escandalosa could give GoldQuest production of at least 100,000 ounces a year…GQC’s other promising priority projects in the DR are Las Animas and Jengibre which are next in line for drilling after Escandalosa…GoldQuest released a 43-101 resource estimate March 2 on its Toral zinc-lead-silver deposit in Spain…it showed slightly lower grades but much higher overall tonnage than the previous historical non-compliant estimate…as a result, total resources came out 15% higher…resources in the indicated category are 4.04 million tonnes grading 11.8% lead and zinc (5.3% lead, 6.5% zinc) as well as 41 g/t Ag and 0.11% Cu… inferred resources are 4.67 million tonnes grading 9.8% lead and zinc (4.44% lead, 5.4% zinc), 32 g/t Ag and 0.14 Cu…Toral has significant exploration and development upside as a majority of the historical drilling (40,000+ metres) was conducted over one relatively small part of the property…the zone of sulphide mineralization is open along strike to the northwest toward a known lead deposit as well as along strike to the southeast and downdip…the project is also an ideal candidate for a fast-track to production…the deposit is close to a power line, highway and rail line…a large smelter is located just 300 kilometers away by rail…GoldQuest is up 64% since we introduced it to BMR readers last fall at 19.5 cents…

Greencastle Resources (VGN, TSX-V)

Greencastle gained another penny last week to close at 24 cents and is starting to show some bullish new technical signs…the 10 and 20-day moving averages have each reversed to the upside and the 50-day SMA has now flattened out…the stock is also now trading above its 50-day SMA for the first time since January…volume is still light but buying pressure has been steadily increasing as revealed by the CMF…VGN’s strong underlying fundamental value is clearly shown in the latest financials which were released March 24…as of December 31, Greencastle held $5.1 million in cash and $2.6 million in marketable securities…some of those securities are likely shares in Seafield Resources (SFF, TSX-V) while the company disclosed it held 1,148,000 shares of Evrim Resources Corp. (EVM, TSX-V), formerly Avaranta, which started trading on the Venture Exchange January 25…at 24 cents, Greencastle’s market cap ($11 million) exceeds its working capital by just $3 million…the potential of higher oil prices in the coming months could bolster Greencastle’s monthly cash flow of approximately $130,000 as it receives royalties from heavy crude production at Primate in Saskatchewan…Greencastle tripled in value over a six-week period from late October to early December…since the beginning of January, though, the stock has struggled due mostly to impatient investors frustrated with the lack of news…patience is required here…over the years the successful strategy with Greencastle has been to accumulate on weakness when the stock is near cash value and then sell into strength when something develops…with $8 million in working capital, three Gold properties (including land near Richfield’s Blackwater Project) and monthly cash flow from an oil royalty, it doesn’t take a rocket scientist to figure out that Greencastle offers excellent value at current levels…the long-term chart remains very encouraging with rising 200 and 300-day SMA’s that are in no danger of reversing…it’s also interesting to note that President and CEO Tony Roodenburg, a large shareholder in VGN, has refrained from selling any of his holdings in recent months despite the fact the stock price more than tripled in value on high volume…this is different from past runs in the stock and adds further credence to our view that we haven’t seen the highs in this cycle yet from Greencastle – it’s poised for what we believe could be a massive breakout sometime this year…Pinetree Capital has also accumulated more shares in Greencastle, so there’s every reason to be very optimistic regarding this company’s prospects…investors need to be patient, however, as they often do with Roodenburg’s plays…Greencastle is up 71% since we added it back in to the BMR model portfolio six months ago…

Adventure Gold (AGE, TSX-V)

Adventure Gold enjoyed a strong week, gaining 7 cents…it climbed as high as 73 cents Thursday before closing Friday at 68 cents…the AGE chart is a picture of beauty and shows a nice and steady uptrend…the company released good results from two more holes Thursday from its recently completed Phase 1 drill program at the Pascalis Colombiere Gold Property near Val d’Or…hole #17 intersected four separate zones of mineralization at depths ranging from 6 metres to 187 metres (5.7 g/t Au over 4.3 metres, 4.6 g/t Au over 5.7 metres, 12.9 g/t Au over 8 metres, and 5 g/t Au over 6.1 metres)…hole #16 intersected 5.5 g/t Au over 5.9 metres…results from five more holes are pending…follow-up drilling will commence once all assays have been received and reviewed…a NI-43-101 resource calculation is planned for later this year…AGE’s latest financials, released April 1, show the company with $3 million in working capital at the end of January…AGE runs an efficient operation and knows where to direct its energies…the stock remains in an overall long-term uptrend with the supporting 50-day SMA at 60 cents and the 100-day (SMA) at 53 cents…we expect AGE will begin drilling its Granada Extension Property in the near future…results from Gold Bullion reveal exciting potential over the far western portion of GBB’s Preliminary Block Model which supports Adventure Gold’s geological interpretation that it holds part of the western extension of the LONG Bars Zone…we first mentioned Adventure Gold to our readers in an article September 29, just a couple of days following the company’s announcement that it had acquired land at Granada, when the stock was trading in the low 20′s…we officially added AGE to the BMR model portfolio at just 34 cents October 28…Adventure Gold has been around only since late 2007 and we are impressed by the company’s solid portfolio of properties (19 in six strategic areas in Quebec and Ontario)…also of immediate interest is AGE’s partnership with Lake Shore Gold (LSG, TSX) on the Meunier 144 Property where deep drilling is still testing the down plunge extension of Gold zones located at the Timmins and Thunder Creek deposits…the current initial deep drill hole onto the Meunier JV property is continuing and is on track to reach the 2,400 metre target level by the end of next month…if a discovery is made, AGE could explode…

Sidon International (SD, TSX-V)

Sidon continues to form a base around the 7-cent level after a sharp drop early last month following disappointing assay results from its Morogoro East Gold Property in Tanzania…volume has tapered off and the stock closed Friday at 7 cents for a loss of half a penny for the week…on March 14 the company announced it has arranged a private placement of up to $2 million at 8 cents…Sidon also announced that day it has signed an option to acquire 80% of a property adjacent to Canaco’s (CAN, TSX-V) Handeni Project…initial drill results from Morogoro, announced March 8, fell short of market expectations…the six shallow holes that were drilled in December did not produce significant results, the best hole showing 3 metres grading 1.7 g/t Au…the company has drilled four deeper holes with results for those still pending…what the initial six holes have given Sidon, however, is a better understanding of the Morogoro geological structure which should help in future drilling…exploration, especially at such an early stage, is never easy and disappointing early results don’t necessarily mean a property doesn’t hold excellent potential…the company is also trying to develop a placer operation at Morogoro…acquiring ground near Canaco’s discovery also helps…there is certainly hope here for better days ahead…from a technical standpoint, previous support between 9 and 10 cents will now provide resistance over the short term…Sidon is up 40% since we introduced it to BMR readers a year ago at a nickel…the company currently has approximately 140 million shares outstanding for a market cap of $10 million…

Seafield Resources (SFF, TSX-V)

Seafield gained 3.5 cents last week to close Friday at 35.5 cents, its highest close since March 21…volume also continues to pick up…the 1.4 million shares traded Friday was the highest single-day volume for SFF on the CDNX in 23 sessions…the company announced last Tuesday that drilling has commenced at Santa Sofia, about one kilometre north of Dos Quebradas where drilling continues…Seafield geologists have identified a promising porphyry target measuring 1,050 metres in length and 850 metres in width at Santa Sofia with soil values up to 2.3 g/t Au…on March 7, assays were reported from the first three holes completed at Dos Quebradas with hole #2 intersecting a whopping 511 metres grading 0.58 g/t Au…the hole ended in mineralization…hole #1 delivered 269 metres grading 0.37 g/t Au while hole #3 was drilled to define the eastern limit of mineralization and returned no significant results…a total of 10 holes have now been completed at Dos Quebradas…significant intercepts well outside areas of historical drilling would start to get the market excited…the geological case for Seafield’s Quinchia land package is compelling and we’re looking forward to more results from Dos Quebradas as well as initial assays from Santa Sofia…the company has already outlined a NI-43-101 inferred resource of nearly 800,000 ounces at its Miraflores Property, a number that’s expected to increase following the 12-hole, 4,000 metre program completed late last year…patient investors have an opportunity to do extremely well with this play given the geological merits of Quinchia and the real potential for 5 million+ ounces from several potential deposits…the company is sitting on approximately $15 million in cash and has a very modest market cap of $54 million…Seafield has gained 492% since we made it the first company in the BMR model portfolio in the summer of 2009…it’s encouraging to see that Anglo-Ashanti Ltd., the world’s third largest Gold producer, plans to spend $300 million over the next three years on further exploration in Colombia…