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John: On Friday, July 15, the spot price for Silver closed at $39.07 an ounce, just a few cents off its monthly high of $39.35.  This morning it has moved higher again, just slightly above $40 as of 4:30 am Pacific. In the last decade Silver has risen from a low of $4.01 in 2001 to a high of $49.82 in 2011, a massive move of 1,142%.

This morning we look at a 10-year monthly chart to analyze how Silver has traveled this journey to get so high in such a relatively short time.

Looking at the 10-year monthly chart we see that late in 2001, Silver reached a low of $4.01. It then continued to move sideways in a trading range between $4 and $5 until mid-2003 when it started a major move to the upside. In early 2004 it reached a high of $8.35. The move from $4.01 to $8.35 constituted Wave #1 of the Elliott Motive Phase #1.

Almost immediately, Silver retraced from the 100% Fibonacci level to the 38.2% level. Silver then traded sideways until mid-2005, forming the down Wave #2. Then Wave #3  of Phase #1 took Silver to a high of $15.20 early in 2006. Prices then retraced to the 61.8% level to form Wave #4. Wave #5 was formed when Silver rose steadily to a high of $21.44 in March 2008. Then the Crash came, taking the price down to $8.40 in October 2008 which formed the downward Corrective Phase #1.

The $8.40 level marked the start of the 5 Wave Motive Phase #2 with Wave #5 being completed when Silver reached its high of $49.82. Note that Wave #4 is very short (red candle at $30). The Corrective Phase has been completed with a retrace down to $32.30 and Wave #1 of Motive Phase #3 has just started.

On the chart I have placed 5 consecutive Fibonacci sets with each set showing its 161.8% target level. Notice how various Fibonacci levels coincide with wave pivot points. Also the target of  Fibonacci set #5 on the right hand side agrees exactly with the high point of of $49.82. The Fibonacci set is a great tool for analyzing charts.

Looking at the indicators:

The RSI is now below the overbought region and pointing up. There is room for it to allow Silver a good move to the upside. Note how the RSI is above the 50% level except for the Crash period. This shows the inherent strength of the primary trend.

The Slow Stochastics (SS), a momentum indicator like the RSI, displays similar characteristics. The %K and the %D are approaching the 50% support level. The CMF shows buying pressure has been increasing since the beginning of 2010 – looks very bullish.

Outlook: The outlook for Silver is extremely bullish. The chart shows it is starting a new 5 Wave Motive Phase and is well supported by strong buying pressure, a powerful primary trend and well-positioned momentum indicators.

Welcome to our site, or at least the initial version of it!  BMR has been online for nearly two years and strictly through word-of-mouth we have built a 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.  While we focus a lot on the Gold market and trends in the global economy, and of course the technical health of the TSX Venture Exchange (CDNX), 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.  However, investors must understand that these are still highly speculative situations and entail considerable risk, volatility and unpredictability.  Our stock coverage is for informational purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. Always perform your own due diligence and please read our disclaimer at the bottom.

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

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction.  It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.

Visible Gold Mines (VGD, TSX-V)

Visible Gold Mines managed to hold most of its gains from a 40% jump the previous week and closed Friday at 29 cents, a loss of two-and-a-half pennies over the five sessions…stronger bids are showing up in VGD…technically, the stock is looking healthier than it has for quite some time…the 10 and 20-day moving averages are advancing sharply together for the first time this year while the 50-day SMA has flattened out and is showing signs of a potential imminent reversal…sentiment toward VGD has clearly changed and momentum now appears to be in its favor…so why the sudden turnaround for a stock that had become so unloved and oversold through May and June?…the market seems to be waking up to the fact that VGD has strong discovery potential with its 20,000+ hectare land package in northwest Quebec…this perception has been aided by the fact the company has put its Joutel Project front and centre and will be drilling it this summer…Joutel, 150 kilometres north of Rouyn-Noranda, covers a wide area stretching 25 kilometres west to east and includes three former deposits…in addition, Visible Gold Mines is aggressively drilling the wild frontier along the Cadillac Trend west of Rouyn – the Cadillac/Lucky Break Projects are vast and include claims in the immediate vicinity of Richmont Mines’ (RIC, TSX) growing Wasamac deposit…we added VGD to the BMR model portfolio a few months ago when it was trading around 40 cents in part because of the quality of this company’s projects, its aggressive approach to exploration, and the team of people it has on the ground and in the front office…VGD is in the process of drilling 40,000 meters in one of the best places in the world for mining and exploration – northwest Quebec – and the company’s senior geologist is Robert Sansfacon who’s a genius at understanding structure…he honed his skills for many years in the exploration division of Lac Minerals and was involved in the discovery of Osisko’s (OSK, TSX) Canadian Malartic deposit, now the largest Gold mine in the country…Sansfacon is determined to make a discovery for VGD and if anyone can, it’s him…he sees great potential with the company’s projects along a 2o+ kilometre stretch of the Cadillac Break west of Rouyn-Noranda, where drilling continues, but he’s particularly anxious to start drilling the Joutel Project, a joint venture between VGD and Agnico-Eagle Mines (AEM, TSX) with VGD acting as the operator…several high priority drill targets are being finalized, work begins on the ground shortly and the property will be drilled aggressively through the balance of the year…a geologist from another company we spoke to recently called this a “fabulous” project…Joutel is a significant former producer that Agnico-Eagle mined from three zones between 1974 and 1993…the operation was closed prematurely as AEM turned its attention to its huge LaRonde Mine…the theory is that there are additional potential undiscovered deposits on this 500+ claim land package, and the area we believe VGD will be targeting initially is the eastern portion of Joutel which has not been fully explored and has “similar geological signatures” to the previously mined deposits to the west, according to the company’s latest Fact Sheet on its web site…Joutel is a geologist’s dream with a great story…”When we picked up all the Joutel boxes and maps from the Agnico-Eagle exploration offices, it took us two pick-up trucks for all the data,” VGD President and CEO Martin Dallaire told us in a recent interview…”We were flooded with data but we love it because we have the capacity to analyze all of it and bring some fresh ideas to the project…the trend is very large and there’s a lot of potential for many new mines in the area”…Dallaire, an engineer and entrepreneur from Rouyn-Noranda, understands the mining industry and what an exploration company needs to do to succeed and build shareholder value…he’s 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 Sansfacon…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 value…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 he’s targeting under-explored areas and past producing mines where major new extensions are possible…armed with $6.5 million in the bank, Visible Gold Mines is well positioned to make things happen in northwest Quebec…

Cadillac Mining (CQX, TSX-V)

Cadillac got as high as 15.5 cents last week but never closed above resistance at 15 cents…volume came back down Friday and the stock finished the week off a penny at 13.5 cents…Wednesday’s volume of 245,700 shares (190,700 on the CDNX) was the highest since March…this continues to be a company with tremendous potential given its property packages but we don’t see a game plan yet for moving Cadillac forward in an effective and sustainable manner – when we do, we’ll let our readers know it’s time to pile back in…we are frustrated but remain patient for now because the possibilities with CQX are still incredible, especially considering the current market cap which is just $3.6 million…not often does a company get the kind of opportunity that Cadillac was handed (and still has)…CQX holds a 100% interest in a very strategic piece of property that adjoins Richmont Mines‘ (RIC, TSX) Wasamac deposit, 15 kilometres west of Rouyn-Noranda…the principal Gold structure hosting mineralization at Wasamac dips northerly onto the seven claims held by Cadillac…Richmont started drilling Wasamac a year ago and steadily ramped up its drilling due to excellent results…in February of this year, Richmont reported a nearly five-fold increase in all-category 43-101 resources (from 285,000 to 1.4 million ounces) at Wasamac…as a result RIC has been one of the best performing Gold stocks on the TSX this year…BMR brought the Wasamac situation to the attention of its readers in December…investors got excited about the story and the potential of Cadillac’s “Wasa” claims…the stock ran to 50 cents by early January and the market was clearly eager to see Cadillac pursue this project as quickly as possible…management’s delay in doing so has been frustrating and has led to a substantial drop in CQX’s share value…the company is also cash poor and needs to raise some money…we give CQX credit for securing an excellent project (Goldstrike) in Utah on fabulous terms but several million dollars is going to be required to tackle Goldstrike in the right way…the best solution in our view is for Cadillac to cut a deal with another company for exploration at Wasamac and the natural partner for that appears to be Visible Gold Mines (VGD, TSX-V) which last December entered into a JV with CQX on its other Rouyn-Noranda area properties…VGD has all the money and expertise necessary to unlock the value of Cadillac’s Wasa claims…Cadillac could let others do the heavy lifting at Wasa and then focus its energies on developing the Goldstrike Project…talk is cheap – the onus right now is on Cadillac to show investors that it can “walk the walk” and make things happen, however they decide to proceed…

Abcourt Mines (ABI, TSX-V)

Abcourt is showing some renewed signs of life though it remained unchanged last week at 13 cents…ABI enjoyed its highest volume day in two months Wednesday when 1.6 million shares traded on the CDNX and other markets…the stock got as high as 14 cents…ABI is looking healthier technically but still faces stiff overhead resistance with the 100-day moving average (SMA) at 15 cents and the 200-day SMA at 15.5…both SMA’s are declining…if you’re bullish on Silver and Zinc prices, however, which we are, you have to love this play as the current market cap ($19.5 million) really doesn’t take into account the value of the company’s Abcourt-Barvue Silver-Zinc deposit…ABI is ripe for a takeover given the value of its assets and management’s apparent inability to unlock that value which is why we still view this company with considerable interest…ABI’s decline from a 52-week high of 25.5 cents in late March was brought on by the closing of a financing (35 million units at 18 cents), a sharp drop in Silver, overall CDNX weakness, and selling by MineralFields Group…the company released more results from Abcourt-Barvue June 13 including 20 metres grading 108.33 g/t Ag and 1.49% Zn  in hole #31…drill results to date should significantly upgrade and increase all-category reserves and resources, most of which can be mined by open-pit…four years ago, GENIVAR produced a very positive feasibility report for the project which showed robust economics…more drilling will take place at the property later this year…the rig was just recently moved to the Vendome Property (Gold, Silver, Copper, Zinc) approximately 13 kilometres south of Abcourt-Barvue…more results came out last week from the company’s Elder-Tagami Gold Property near Rouyn-Noranda including 8.50 metres grading 3.71 g/t Au…that was from the Tagami area to the north which has untapped potential including some higher grades…the latest NI-43-101 resource estimate of 216,000 ounces was released in the summer of 2009…the possibility of Abcourt expanding that resource beyond 500,000 ounces certainly exists given the encouraging results to date (look what Richmont has done at Wasamac)…the heavy accumulation that began in Abcourt in December was no fluke in our view…this is a company with significant assets that could justify a substantially higher valuation…nearly 60 million shares of ABI changed hands on the CDNX in December and January – record volume for this stock, accompanied by a price jump from 14.5 cents…while the stock price is now slightly below that level, the record volume in ABI since late last year (take a look at a 10-year chart) is still a very bullish sign…Abcourt has been under significant accumulation and our best guess is that some savvy players like the assets in the ground…continued drilling success and higher prices for Gold, Silver and zinc would be exciting developments for this stock which has a history of major moves…from mid-2005 to early 2006, Abcourt rocketed from 15 cents to nearly $1.40…

Greencastle Resources (VGN, TSX-V)

Greencastle continues to edge up slowly and closed Friday at 20 cents for a gain of another penny-and-a-half for the week, albeit on continued low volume…as far as the fundamentals go, our gut feeling is that something is cooking here – President and CEO Tony Roodenburg has been quiet for too long…with the correction over in the CDNX and a new uptrend just getting underway, Roodenburg likely won’t waste too much time getting Greencastle back on track…technically, the Slow Stochastics and RSI(14) show the stock is in overbought territory at the moment and this condition needs to unwind which could take a couple of weeks…the company released its Q1 financials June 9 which show working capital of 16.4 cents per share ($7.5 million)…oil royalties have declined significantly – just $212,000 for the first three months of 2011 vs. $355,000 over the same period a year ago which underscores the need for VGN to make some major changes as Primate just isn’t the cash cow it used to be…the fact Roodenburg is no longer at the helm of Seafield Resources (SFF, TSX-V) is a positive development in our view for Greencastle…Roodenburg had been trying to ease his way out of Seafield since 2009 without much success until a couple of months ago…he’s now able to focus almost exclusively on Greencastle which has been a favorite project of his for many years…we suspect he’s going to take a serious look at spinning out the oil assets or the Gold assets into a separate company…something needs to happen here to move VGN forward and boost shareholder value, but we’re confident Roodenburg will do it – sooner or later…Greencastle’s market cap of $9.3 million means the stock is now trading just 3.5 cents above its cash value…history shows that whenever VGN is near cash value, a terrific buying opportunity has opened up though investors must be patient…Greencastle tripled 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 definitely required with VGN or one shouldn’t invest in it…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 $7.5 million in working capital, three Gold properties (including land near the Blackwater Project) and monthly (albeit declining) cash flow from an oil royalty, it doesn’t take a rocket scientist to figure out that Greencastle does offer excellent value at current levels…the long-term chart remains encouraging with rising 200 and 300-day SMA’s that are in no danger of reversing at the moment (the 200-day could start declining however if something doesn’t develop by the end of August)…it’s also important to note that Roodenburg, a large shareholder in VGN, refrained from selling any of his holdings during the late 2010 run-up in the share price…this is different from past bullish 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 during the last half of this year…Pinetree Capital also accumulated more shares in Greencastle late last year, so there’s every reason to be very optimistic regarding this company’s prospects…Greencastle is up 43% since we added it back in to the BMR model portfolio last October…

Sidon International (SD, TSX-V)

We’re all entitled to have one dog in our portfolio and Sidon is that dog for us at the moment though it did increase five-fold for us last year…things are still very quiet on the Sidon front with the stock down half a penny last week at 3.5 cents…the company hasn’t been able to recover yet from its fall in March, one day after the CDNX correction began, on poor drill results from its Morogoro East Gold Property in Tanzani…there has been no news from the company since March 14 – they effectively “sat out” the correction in the CDNX – when it announced a proposed private placement at 8 cents and an option to acquire an 80% interest in a 50-square kilometre property adjacent to Canaco’s (CAN, TSX-V) Handeni discovery in Tanzania…the 6 shallow holes drilled in December at Morogoro East failed to produce significant results, the best hole showing 3 metres grading 1.7 g/t Au…the company has drilled 4 deeper holes with results for those still pending…what the initial 6 holes have given Sidon, however, is a better understanding of the Morogoro geological structure which would aid in any 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…there is certainly the possibility of better days ahead for Sidon but the lack of news is not encouraging…the climb back up won’t be easy and the company potentially may have to look at a consolidation of its capital…Sidon ran as high as 26.5 cents last winter but is now off a penny-and-a-half since we introduced it to BMR readers just over a year ago at a nickel…the company currently has approximately 140 million shares outstanding for a market cap of $4.9 million…

Gold Bullion Development (GBB, TSX-V)

It was a quiet week for GBB despite drill results that came out Wednesday…the market shrugged off the results which showed more of the same and no major breakthroughs…the stock closed Friday at 42 cents, a drop of 4 pennies for the week and a 50% retracement of the previous week’s strong gains…nothing spectacular in the results but Hole #165, collared approximately 50 metres northeast of hole #108, offers encouragement with regard to the very promising northern portion of the Eastern Extension…#165 returned 141.50 metres grading 0.31 g/t Au (from 155 to 296.50 metres) with no high-grade spikes, showing an apparent consistency of mineralization…it included a 20.5-metre section grading 1.20 g/t Au…assays have yet to be reported on 8 more important holes drilled in this general area (168, 178, 183, 241, 243, 246, 254, 257) according to GBB’s most recent drill map…along with additional results, GBB’s 43-101 resource estimate is going to be critical along with the Castle spin-off and potential discoveries in LONG Bars Zone 2…infill drilling is GBB’s focus at the moment with drill hole spacing tightening (which could help to improve grade) in preparation for a resource calculation…a helicopter pilot we know informed us Friday that GBB’s drill rigs were spotted within the Preliminary Block Model, one on the eastern side of the waste pile and the other on the western side near Pit #1…this is the infill drilling referred to by GBB…technically, the stock is looking fine at the moment…RSI(14) has dropped back down to the 50 level where it should find support…there have been a series of higher highs and higher lows on the RSI(14) since March…the 50-day moving average (SMA) is beginning to reverse to the upside but for now the stock remains confined to a trading range between the 500-day SMA at 40 cents and the 300-day SMA at 56 cents…a move through the mid-50’s would obviously be a very bullish development…GBB’s initial 43-101 resource estimate for the LONG Bars Zone, expected during the third quarter, has the potential of re-energizing this play significantly…the market is a forward-looking machine, however, and those who follow GBB won’t be waiting until after the 43-101 comes out before getting positioned appropriately in the stock…the company’s current market cap of $70  million puts a value of just $23 an ounce on Gold in the ground at Granada if one were to assume the 43-101 will outline approximately 3 million ounces in the measured, indicated and inferred categories…that’s just a hypothetical number on our part at the moment but whatever number GENIVAR comes up with, we believe it should exceed the 2.4 to 2.6 million ounce conceptual figure that Gold Bullion gave in April of last year…based on all the drill results to date, this appears to be shaping up as a half-gram deposit with a higher grade starter pit and massive volume…it’s all about volume at Granada which is why the drills have to keep turning and why we want to see more than just two rigs in the LONG Bars Zone which has such incredible potential…the company provided an update on its Castle Silver Mine Project June 8…the 6,000 metre Phase 1 drill program is nearing completion and a strong new vein structure was intersected at the first IP target…a 43-101 technical report on the property has also been released…assay results from the 10 holes drilled so far are still pending…GBB plans to spin-off this asset into a separate publicly traded entity…GBB is up 500% since we introduced it to BMR readers in late December, 2009…

Currie Rose Resources (CUI, TSX-V)

It was an unusually quiet week for CUI which traded just half a million shares on all Canadian exchanges, closing down a penny for the week at 17 cents…this should be considered the lull before the storm…the Currie Rose drill is turning in Tanzania, so a summer of interesting action in CUI can be expected…three properties are being drilled at Mabale Hills (Mwamazengo, Dhahabu and Sisu River) before the rig shifts to the flagship Sekenke Project…CUI‘s first-ever drill program at Sisu River late last year gave reason for encouragement but this time around the plan is to push the holes a little deeper (150 metres or more) in hopes of cutting wider intersections and higher grade…reading between the lines of the July 5 news release, it’s possible the geologists liked what they saw in the first three holes as 506 samples were delivered to a nearby lab for assaying and drilling continued…after more holes are completed at Sisu River, the rig will test targets at Dhahabu and Mwamaznego…geochemical analysis has outlined a continuous anomaly over a few hundred metres that runs parallel to the west of a previously reported discovery at Mwamazengo where drill results included notable high-grade intercepts such as 34 metres grading 3.60 grams per tonne gold, 12 metres grading 9.11 g/t Au, 63 metres grading 2.59 g/t Au and 31 metres grading 5.97 g/t Au…we’re most excited, however, about the Sekenke Project which has “blue sky” written all over it…Sekenke is why we decided to start following CUI when it was trading around a dime last fall…results from satellite imagery provide additional evidence that Sekenke is a highly intriguing geological target and part of the same northwest trending structure that hosts Canaco’s (CAN, TSX-V) Handeni Project…satellite imagery has also shown that the structures at Sekenke are coincident with a strong alteration envelope…what’s unique about this project is that it surrounds and runs in between two former high grade Gold mines including Tanzania’s original producer…this greatly increases the chances of a discovery as it’s unlikely the former mines were fully exploited or explored as techniques a century ago in this industry obviously weren’t what they are today…CUI has a terrific chance to hit it big at Sekenke and we also wouldn’t be surprised if the company takes a shot at acquiring the former Sekenke Mine…that’s speculation on our part but it makes sense from a strategic point of view…pre-drilling exploration work continues at Sekenke to pinpoint the best targets…technically, the stock’s rising 300-day moving average (SMA), currently at 16 cents, has provided rock-solid support throughout the year…CUI’s chart is quite favorable in our view and suggests a breakout above resistance in the low 20′s is only a question of when, not if…the 100-day SMA has flattened out since late May and the sure sign of a major reversal is when this turns decisively to the upside…while its Tanzanian properties are the market’s major focus, Currie Rose could also benefit over the summer from continued good exploration news out of Trueclaim Exploration (TRM, TSX-V) which is currently conducting an 8,000 metre drill program at the Scadding Gold Property near Sudbury…Trueclaim, which continues to release encouraging assay results, has earned a 51% interest in Scadding and can acquire a full 100% interest by completing a feasibility study, paying $2 million to Currie Rose, and giving Currie Rose a 3% net smelter royalty…CUI announced a joint-venture deal January 25 with Australian-based Liontown Resources for Currie’s Jubilee Reef Gold Project in Tanzania…CUI’s focus is on the Sekenke and Mabale Hills Projects, so finding a partner for Jubilee Reef made sense…the deal commits Liontown to at least 5,000 metres of drilling at the property this year which will give Currie Rose a minimum of 23,000 metres of drilling at all of its properties in 2011…while Currie Rose has had its market cap shaved by more than half, from a high of nearly $40 million late last year to the current $15 million, what hasn’t changed is the quality of this company’s project portfolio which remains as high as ever…Currie Rose has all the cash it needs ($2 million) to complete an initial major round of drilling (10,000 metres) in Tanzania this summer, so there will not be any dilution of the stock at current levels as confirmed by President and CEO Harold Smith…

Adventure Gold (AGE, TSX-V)

Adventure Gold remains one of our favorites this summer with several exciting projects on the go…chances are that at least one of those projects will “hit” and our prediction is that it will be the Pascalis-Colombiere Gold Property near Val d’Or…AGE was off 4 pennies last week at 56 cents cents…since May, the stock has traded almost entirely within a narrow range between its 100 and 200-day moving averages (SMA)…the 200-day is the supporting SMA at 52 cents while the 100-day at 59 cents is resistance…we ultimately expect a breakout through 60 cents and a surge to a new all-time high beyond 80 cents is very possible given the quality and extent of this company’s projects…we recently interviewed President and CEO Marco Gagnon and we’re continuing to perform some additional research on AGE in advance of some postings in the near future…Gagnon is a sharp operator who knows how to maximize every dollar spent…he also has the strong backing of Montreal investment firm Windermere Capital which holds just under 20% of AGE as disclosed January 21…the company has five active key projects, two of which are in the hands of joint venture partners Lake Shore Gold (LSG, TSX) and Agnico-Eagle Mines (AEM, TSX)…AGE is currently drilling its very promising Pascalis-Colombiere Property and its Lapaska Property as well, both near Val d’Or…the Granada Extension Property will be worked on later this year…on June 16, Adventure Gold gave the market a pleasant surprise when it reported results from the first 2 holes of a drill program at Lapaska…AGE is the operator of this project which Mazarro Resources (MZO, TSX-V) can earn a 70% interest in (30% to AGE) under which we consider to be quite favorable terms for Adventure Gold…the Lapaska Property is located along the Cadillac-Larder Lake Gold Break and the first holes returned solid results at shallow depths…LP-11-16 cut an interval of 1 g/t Au over 103.4 metres (from 45.3 to 148.7 metres), including 10.3 g/t Au over 3.8 metres, while LP-11-17 returned 1.2 g/t Au over a 156.9-metre interval (25.2 to 182.1 metres)…LP-11-16 included a Gold halo of 564.1 metres grading 0.3 g/t while LP-11-17 featured a Gold halo of 245.5 metres grading 0.8 g/t, providing evidence of a potentially strong Gold system…both holes were drilled perpendicular to the strike of the vein system in the Lapaska Central zone and are therefore close to true thickness…this will be interesting to watch and the market will be eagerly awaiting additional results to size up the potential of this play…at the end of May the company reported significant news regarding Pascalis-Colombiere…AGE is in the middle of a 5,000 metre Phase 2 drill program at the property after releasing more highly encouraging drill results including 4.8 g/t Au over 33.1 metres in hole #20 (plus lower grade halos over significant widths)…the intent of this program is to further define the Gold system, leading to a resource calculation which is already being worked on…Pascalis-Colombiere encompasses the past producing L.C. Beliveau Mine (Richmont’s Beaufor Mine is just a few kilomeres away)…we found a comment from Gagnon in the June 2 news release quite interesting…“Following positive drill results and the permitting process, an open-pit or an underground operation could be producing in the near future“…we believe Richmont Mines (RIC, TSX) may have interest in this project…earlier this year we met with AGE’s Jules Riopel, VP Exploration, regarding the company’s strong portfolio of properties…he was very keen at that time on Pascalis-Colombiere and given the drill results, his bullishness on this property appears to have been justified…the former L.C. Beliveau Mine was a very profitable operation between 1989 and 1993, producing nearly 170,000 ounces of Gold for Cambior…we believe a lot of Gold was overlooked in that area…meanwhile, Agnico-Eagle has likely completed its 4,000 metre drill program at AGE’s Dubuisson Property near Val d’or…Dubuisson is contiguous to the Goldex mine property and also straddles a 5-kilometre segment of the prolific Cadillac-Larder Lake Gold break…also of immediate interest is AGE’s partnership with Lake Shore Gold 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 has reached a core length of 2500 metres with another 500 metres to go…if a discovery is made, AGE will instantly explode higher…AGE’s latest financials, released April 1, show the company with $3 million in working capital at the end of January…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…AGE is clearly a keeper for the long haul and we wouldn’t be surprised to see a major breakout in this play over the summer…

GoldQuest Mining (GQX, TSX-V)

GoldQuest was up half a penny for the week, closing at 20 cents…the 300-day moving average (SMA), which continues to rise which is a good sign, has been providing resistance for the past few months (currently it’s at 25 cents) while support for the stock has held right around the rising 500-day SMA at 20 cents…there’s no question in our view that GQC presents a great opportunity for patient and long-term investors…Chairman Bill Fisher continues to buy stock on the open market, his latest purchase being 20,000 shares July 12…he has bought nearly 250,000 shares over the past couple of months between 18 and 20.5 cents according to insider trading reports…GQC’s prospects remain solid as the company has an outstanding portfolio of projects in the Dominican Republic and Spain…the substantial drop in the share price from a high of 48.5 cents in early February was due to general market weakness and selling from speculators whose expectations may have been too high regarding initial drill results from the company’s La Escandalosa Project in the Dominican Republic…in addition, the company has stopped all drilling in the DR for the time being in order to conduct extensive IP surveys over Escandalosa and other properties…overall assay results from Escandalosa were decent though far from spectacular…the final set of assays for 7 holes came out May 16…the best intersection from Escandalosa Sur, where an initial 43-101 inferred resource of 400,000 ounces was outlined last fall, was 20 meters grading 1.32 g/t Au…results from this area overall (21 holes) were somewhat disappointing though more drilling is required and will take place later this year…however, the company drilled three holes at the Hondo Valle target 1.6 kilometres to the north (outside the resource area) and all three intersected significant mineralization including 29 metres grading 2.18 g/t Au in hole #65…that’s the thickest and highest grade mineralized section drilled to date at Hondo Valle…the theory is that mineralization trends north from Escandalosa Sur to Hondo Valle…GoldQuest is in the midst of carrying out a 16-square kilometre IP survey and magnetic ground geophysical survey from 2 kilometres north of Hondo Valle to 2.2 kilometres south of Escandalosa Sur…this should be completed by the end of the month and GQC will then use the data to pinpoint key targets for an additional 3,000 metres of drilling…GoldQuest also has other promising projects in the DR (in particular, Loma Oculta – formerly Las Animas – where an exploration program aimed at identifying new drill targets is now underway) in addition to its lead-zinc-silver deposit in Spain…GoldQuest’s potential has not diminished whatsoever yet the share price has dropped by about 60% from its early February high…the company 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…GQC is up half a penny since we introduced it to BMR readers last fall…

Seafield Resources (SFF, TSX-V)

For the third time since the beginning of May, Seafield challenged its 200-day moving average (SMA) last week, only to get turned back…it went from a high of 35 cents to a low of 27.5 cents before closing at 29 cents, off 3.5 pennies for the week…note that the now rising 50-day SMA provided support at Friday’s 27.5-cent low…SFF is looking very, very interesting from a technical point of view, especially with its strong volume during a market period when overall liquidity has dropped significantly…SFF could be a major mover during this second half of the year…SFF warrants, which expire in December 2012, also look attractive and closed Friday at 7 cents…the company announced July 5 that it has hired SRK Consulting for a preliminary economic assessment or scoping level study on the Miraflores Property which is expected to be completed during the first quarter of next year…SRK will evaluate the potential positive economics of developing an open-pit and underground mining operation at Miraflores…it will also provide recommendations to advance the project to prefeasibility…Seafield announced the closing of a $3 million private placement at 30 cents May 24 with a “strategic” long-term investor and also released an updated 43-101 resource estimate for Miraflores…the project has gone from an inferred resource of 776,000 ounces (at a cut-off grade of 0.5 g/t Au) to a measured and indicated resource of 1.2 million ounces and an inferred resource of 354,000 ounces (at a cut-off grade of 0.3 g/t Au)…another round of drilling will begin shortly at Miraflores…there was big news out of Seafield May 9 with a change in management which has to be considered a bullish development…Cesar Lopez, who has a strong background in South American exploration management and development, is the company’s new Chief Executive Officer…he replaces Tony Roodenburg who remains as a director…insider trading reports show Lopez has bought 750,000 SFF shares on the open market between 25 and 32 cents per share… Tom Henricksen, meanwhile, has taken over as Vice-President, Exploration, from James Pirie who also has stayed on as a director…Henricksen has over 35 years of mineral exploration experience and has spent the last 15 years on projects in South America…Seafield exploded from the low 20′s to an all-time high of 77 cents in just one day last December but then proceeded to give up all of those gains…the company’s Quinchia land package in Colombia has a great deal of untapped potential and Seafield is also sitting on nearly $20 million in cash…the company announced April 5 that drilling has commenced at Santa Sofia, about 1 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 3 holes completed at Dos Quebradas with hole #2 intersecting 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…significant intercepts well outside areas of historical drilling at Dos Quebradas 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…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…we have confidence the new management group will unlock value by bringing fresh insight and new energy to this play along with a more aggressive exploration approach…Seafield has gained 383% since we made it the first company in the BMR model portfolio in the summer of 2009…its current market cap is $48 million…

TSX Venture Exchange and Gold

It was another solid week for the CDNX which has enjoyed 10 winning sessions out of the last 12 after ending a long correction that bottomed out at 1862 June 28.  Since then the CDNX has climbed 145 points or 8% and is now above 2000 for the first time since June 6.  The Index closed at 2007 Friday for a 22-point weekly gain.  It out-performed the Dow (down 177 points), the Nasdaq (down 70 points) and the TSX (down 72 points).

The current strength of the CDNX was clearly on display last Tuesday when the Index staged an important intra-day turnaround.  Over Monday and Tuesday the CDNX fell 55 points in one last “fake out” to the downside which also successfully tested the rising 10-and-20 day moving averages (SMA).  The Index touched a weekly low of 1930 Tuesday morning, closed the day up 7 points at 1952 and rocketed higher on Wednesday.

So where to immediately from here?  The CDNX will probably test strong resistance around 2050 in the near future but pushing through that area on the first attempt seems unlikely.  So investors have to be patient.  We could be looking at a trading range between the 50-day moving average in the mid-1980’s and 2050 for the next couple of weeks before another strong push to the upside next month on increased volume as more players step into the market (look for any pullbacks to find support near the 10 or 20-day SMA).  Of course the longer-term “Big Picture” is John’s latest Fibonacci level, 2853 (no timeline as yet).  As we stated in this space a week ago, the CDNX has started a powerful new uptrend within the overall bull market phase it has been in for two-and-a-half years.

Whole Gold’s move to a new record high just below $1,600 per ounce has clearly been a significant factor in the CDNX’s recovery since the end of last month, the behavior of the Index at the moment is nonetheless inconsistent with the view, peddled by many pundits, that markets are about to crash and the global economy is going to come to a screeching halt over debt issues and other concerns.  In fact, what the CDNX is telling us with its very bullish-looking chart is just the opposite – the U.S. will escape a default but won’t seriously tackle its debt problems until after the 2012 elections, the U.S. economy will come out of a slow patch perhaps in part through innovative new stimulus measures from the Fed, the White House and/or Congress, continued strong growth in emerging markets like China and India will help fuel the global economy, and the euro zone will find a way to kick the can down the road a little further with regard to sovereign debt problems of some of its member states.  Yes, much of the public is cowering in fear right now (aided by the Internet and 24-hour news channels) with everything they see happening in the world, and as a result they’re under-invested in the market.  That’s about to change, we believe, and the final half of the year is going to be a lot better than most pundits are predicting.

Back in March, a sharp drop in the CDNX was a warning of some trouble ahead for the markets and that’s exactly what occurred though it wasn’t easy to see at the time.  The opposite is occurring now, and a 20% jump in the CDNX from current levels is not out of the question by the end of September. The CDNX remains in a long-term bull market, confirmed in part by rising 200, 300 and 500-day moving averages, and the recent 24% correction was merely a normal and healthy pullback from a very powerful eight-month run.  The bullish action in Copper, another highly reliable leading indicator, confirms this view.

The CDNX should ride the wave of higher Gold and commodity prices in the coming months.  Goldman Sachs, which has been making some accurate calls recently, just wrote in a report that it expects global economic growth to be “generally supportive of rising commodity demand” and “this demand growth will be sufficient to tighten key commodity markets over the next six to 12 months”.

Gold

Gold eked out a 10th straight daily gain Friday, matching a record wining streak set four decades ago.  The yellow metal closed at $1,594, a gain of $50 for the week.  It’s now up over $100 since July 1.  Silver enjoyed a great week, climbing $2.56 an ounce to close at $39.27.  Crude Oil was up $1.04 a barrel, Copper gained 3 pennies to finish at $4.39 a pound while the U.S. Dollar Index was essentially unchanged at 75.13.

John’s 2-year weekly Gold chart, which we posted Wednesday night, is our favorite chart of the week as it clearly shows how Gold is in such a powerful upsloping channel.  While it likely needs to pause for a bit and catch its breath, the next major target is the $1,675 area as outlined below.  Keep in mind that the current Gold price is still 30% below its 1980 inflation-adjusted peak of $2,400 an ounce – a level we believe is possible within as little as a year.

The battle in Washington over raising the debt ceiling is benefiting Gold which increasingly is being viewed as an alternative currency.  The Americans will likely find a way to avoid a default by early next month, but political dynamics will prevent any major deal to tackle the deficit and the debt until after the 2012 elections.  One should not underestimate the United States and its ability to rebound from any mess it gets itself into.  However, President Obama resembles Jimmy Carter a lot more than Ronald Reagan.  The next “transformational” presidency won’t come until at least 2012 when Republicans have a chance to regain the White House and sweep Congress.  Who that President could be remains to be seen but fighting the country’s debt and re-energizing the economy will be the central themes of the 2012 race.

Federal Reserve Chairman Bernanke told Congress last week that the central bank is prepared to take additional action, including buying more government bonds, if the economy appears to be in danger of stalling from here.  Gold bugs liked what they heard from Bernanke, and a Moody’s warning that the U.S. may lose its top-notch credit rating was a boost for the yellow metal as well.

We’re now about to enter the time of year when physical demand for Gold, which is already strong particularly in China and India, traditionally begins to ramp up.  Gold jewelers typically do their biggest business in the third and fourth quarters.  The kick-off is the Muslim holy month of Ramadan which starts next month and ends with generous gift-giving in September.   Physical demand should drive Gold prices even higher and support any dips over the next few months.

Strong Numbers Out Of China – Positive For Gold & Commodities

Commodities generally rallied last week on economic data out of China. China’s GDP rose 9.5% in the second quarter (higher than the consensus estimate of 9.3%) after a 9.7% gain in the previous three months.  Industrial output advanced 15.1% in June. Fixed-asset investment, excluding rural households, rose 25.6% year-over-year in the first half.

China retail sales grew 16.8% year-over-year for the first half of the year. Retail sales were up 17.7% in June, 1.38% than in May. Urban per capita income was up 13.2% year-over-year for the the first half of 2011, beating inflation by 8%.

The fundamental case for Gold remains incredibly strong – currency instability and an overall lack of confidence in fiat currencies and governments in general, an environment of historically low interest rates and negative real interest rates (inflation is greater than the nominal interest rate even in parts of the world where rates are increasing), massive government debt from the United States to Europe, central bank buying, flat mine supply, physical demand, investment demand, emerging market growth, geopolitical unrest and conflicts, and inflation concerns…the list goes on.  It’s hard to imagine Gold not performing well in this environment.  The Middle East is being turned on its head and that could ultimately have major positive consequences for Gold.

This is an early pre-market version of BMR’s Morning Market Musings as Jon is on a special research assignment today…Gold overnight (through 3:00 am Pacific) has dipped as low as $1,575…a Reuters poll yesterday showed some leading analysts are lifting their 2012 Gold price forecasts…Central banks have bought more Gold in the first half of this year than in all of 2010 as a long-anticipated reversal in so-called “official sector” sales gathers pace, according to a report just issued by the World Gold Council…the CDNX climbed a few points above 2000 yesterday before being pushed back to 1990, just slightly above its 50-day moving average (SMA) which appears poised to reverse to the upside within the next week or two…that of course would be another bullish technical development for this market…in case you missed it, Republican representative Ron Paul and Fed Chairman Ben Bernanke had a short but fascinating discussion regarding Gold and what qualifies as money during a congressional hearing in D.C. Wednesday…“Do you think Gold is money?” asked Paul, the libertarian-leaning presidential candidate, to which Bernanke, obviously a bit bewildered, replied, “No…it’s not money, it’s a precious metal”…Paul refused to let up and asked Bernanke why, if people for 6,000 years have considered gold a monetary commodity and banks still hold it as if it is money, the Chairman can say that Gold is not money…Bernanke had no choice but to cite “tradition”…

MR. PAUL: But very quickly, if you could answer another question, because I’m curious about this – you know, the price of Gold today is $1,580…the dollar during these last three years was devalued almost 50%…when you wake up in the morning, do you care about the price of Gold?…

MR. BERNANKE: Well, I pay attention to the price of Gold, but I think it reflects a lot of things…it reflects global uncertainties…I think people are – the reason people hold Gold is as a protection against what we call tail risk, really, really bad outcomes…and to the extent that the last few years have made people more worried about potential of a major crisis, then they have Gold as a protection…

MR. PAUL: Do you think Gold is money?

(Pause.)

MR. BERNANKE: No…it’s not money, it’s a precious metal…

MR. PAUL: Even if it has been money for 6,000 years, somebody reversed that and eliminated that economic law?…

MR. BERNANKE: Well, it’s – you know, it’s an asset…I mean, it’s the same – would you say Treasury bills are money?…I don’t think they’re money either, but they’re a financial asset…

MR. PAUL: Well, why do – why do – why do central banks hold it if it’s not…

MR. BERNANKE: Well, it’s a form of reserves…it’s a form…

MR. PAUL: Why don’t they hold diamonds?

MR. BERNANKE: Well, it’s tradition, long-term tradition…

MR. PAUL: (Chuckles)…Well, some people still think it’s money…I yield back…my time is up…

Ron Paul could have grilled Bernanke even more and asked him if he didn’t think Gold was money, then why are Gold and Silver once again considered legal tender in at least one part of the United States – Utah…the state last spring passed the “Utah Legal Tender Act” which “recognizes Gold and Silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability”…the law, signed by Governor Gary Herbert on March 25, does not obligate individuals to pay or accept payment in precious metals, but rather provides an alternative to the fiat-based Federal Reserve note that central bankers have been recklessly creating out of thin air in unprecedented proportions in recent years…the Utah Legal Tender Act also eliminates state taxes on the exchange of Gold and silver coins, and instructs the legislature to study an “alternative form of legal tender”…the most significant change from a practical perspective is that the Utah’s state tax code now considers Gold and silver coins issued by the U.S. Mint as currency rather than an asset, which means that capital gains or other state taxes cannot be levied when the coins are exchanged…however, federal taxes still apply on these transactions…

John has two interesting charts this morning – Pacific Ridge Exploration (PEX, TSX-V), which is exploring in the Yukon, and Goldex Resources Corp. (GDX, TSX-V) which was the Venture’s volume leader yesterday…Pacific Ridge, which had $4.5 million in working capital at the end of March, is in the midst of a 4,000 metre drill program at its Mariposa Property in the White Gold District…the program is testing the Skookum Jim and Hackly zones, two of five gold-in-soils geochemical anomalies defined last year within the 262-square-kilometre property…PEX closed at 37.5 cents yesterday and is certainly worthy of our readers’ due diligence…

Goldex is exploring its promising El Pato Gold Property in Guatemala and a 5,000-metre drill program was launched in May in order to confirm significant historical inferences and determine whether there is a continuation of mineralization extending along strike as far as the El Sauce sector where high-grade Gold mineralization has been shown…we’ve actually been watching this stock closely since it broke out at the beginning of the year…the company raised over $2 million in January from a 5-cent private placement which became free trading in early June…the market has been digesting some of that stock since then and volume is obviously the key…GDX definitely has liquidity and record volumes have come into the stock this year which is a very positive sign…GDX closed at 7.5 cents yesterday, giving the company a market cap of approximately $7.2 million which certainly provides for some upside potential…we like the fact there has been considerable historical work conducted at El Pato with very encouraging results…the company also holds a 3,400 hectare property, El Arco, in Mexico’s Central Plateau Gold-Silver belt…

Note: Jon, John and Terry do not hold positions in Pacific Ridge Exploration…Jon and John each hold a position in Goldex Resources…

Gold has hit another record high this morning, $1,596, and is currently up $6 an ounce at $1,589 as of 7:00 am Pacific…another Perfect Storm seems to have arrived for the yellow metal…strong hints of more stimulus measures from the Federal Reserve and a Moody’s warning that the United States may lose its top-notch credit rating hurt the greenback yesterday and triggered fresh buying of precious metals…concerns over euro zone debt levels of course are also front and centre…as John’s 2-year weekly Gold charted illustrated last night, $1,675 appears to be the next major target area…Silver had a big day yesterday and is up another 98 cents this morning to $39.21…Crude Oil is 64 cents higher at $98.69 while the U.S. Dollar Index has recovered one-fifth of a point to 74.89…the CDNX has hit the 2000 level, a gain of 11 points through the first 30 minutes of trading…last weekend, we issued an alert regarding the CDNX that the March 7 to June 28 correction was over and that a major new uptrend had started…momentum should continue to build over the summer with the 10 and 20-day moving averages (SMA) providing support on any dips as witnessed early this week…we suggest investors stay focused at the moment on the advanced plays, specifically those companies with strong cash positions, favorable charts, and aggressive exploration programs…small to mid-sized producers on the TSX should perform exceptionally well in this environment – Richmont Mines (RIC, TSX) being a classic example, and others like it…Richmont’s chart, as John shows below, is a textbook case of technical indicators to look for…RIC gapped up this morning and is currently 24 cents higher at $8.28..

Northwest Quebec is hot and we’ll be visiting that area again next month with detailed updates and fresh opportunities for our readers…we see potential breakouts over the summer not just in Richmont Mines but also in Adventure Gold (AGE, TSX-V), Visible Gold Mines (VGD, TSX-V), Gold Bullion Development (GBB, TSX-V), Focus Metals (FMS, TSX-V), Mazorro Resources (MZO, TSX-V), Azimut Exploration (AZM, TSX-V) and others, while Abcourt Mines (ABI, TSX-V) is looking healthier now from a technical standpoint…readers should perform fresh due diligence on all of the above situations…the Yukon is going to continue to be hot and we have our ears to the ground up there with research going into some undiscovered opportunities in that region…ATAC Resources (ATC, TSX-V), of course, is the leader of the pack which also means it has big expectations to meet…ATC broke out to a new all-time high of $9.15 yesterday…Golden Predator (GPD, TSX-V), with its Brewery Creek Project, is on the move while we also remain extremely bullish on Silver Quest Resources (SQI, TSX-V)…not only is SQI active in the White Gold District but it holds a strategic and valuable 25% interest in the northern portion of New Gold’s (NGD, TSX) Blackwater deposit in central British Columbia, and NGD is drilling that area aggressively over the summer…Kaminak Gold (KAM, TSX-V) and Ethos Capital (ECC, TSX-V) are both looking very strong…exploration is also intense in central and northern British Columbia and Romios Gold (RG, TSX-V), which we’ve mentioned before, is a quality opportunity worthy of consideration…the company announced this morning that it has added a third drill rig at its highly prospective properties in the Galore Creek area…Spanish Mountain Gold (SPA) is an exciting opportunity and the company announced yesterday the closing of a $20 million financing…SPA has a substantial low-grade deposit which in central B.C. which is all the more attractive at current Gold prices…the stock is down a penny at 62 cents through the first half hour of trading…on another part of the planet, Canaco Resources (CAN, TSX-V) has a world class deposit shaping up at its Handeni Project in Tanzania…CAN released more drill results yesterday including 20.3 metres grading 6.93 g/t Au…a total of 56,000 metres of diamond drilling has now been completed at Magambazi from 240 holes…Canaco is well off from its $6.45 all-time high and seems to have found support in the vicinity of its rising 300-day moving average (SMA)…John updates the Canaco chart below…CAN is up 2 pennies as of 7:00 am Pacific at $3.57…

Also in Tanzania, we’re keeping a close eye on Currie Rose Resources (CUI, TSX-V) which is in the midst of its most aggressive exploration program ever with the stock trading at 17.5 cents…drilling continues at the company’s Mabale Hills Project (three major properties) in the prolific Lake Victoria Greenstone Belt…drill targets are still being finalized for the company’s flagship Sekenke Project, 200 kilometres to the southeast and along the same structure as Handeni…Sekenke is of particular interest to us as parts of that large land package run in between and surround two former high-grade mines…Currie Rose will be drilling Sekenke for the first time ever this summer and that should prove interesting…from a technical standpoint, Currie Rose remains in a long-term uptrend and a breakout through resistance in the low 20’s anytime over the next month or so is possible…the company is cashed up and can complete all of its exploration this summer and fall without having to do a dilutive financing…

Welcome to our site, or at least the initial version of it!  BMR has been online for nearly two years and strictly through word-of-mouth we have built a 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.  While we focus a lot on the Gold market and trends in the global economy, and of course the technical health of the TSX Venture Exchange (CDNX), 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.  However, investors must understand that these are still highly speculative situations and entail considerable risk, volatility and unpredictability.  Our stock coverage is for informational purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. Always perform your own due diligence and please read our disclaimer at the bottom.

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

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction.  It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.