BullMarketRun.ca

Gold continues to shine and is up $3 an ounce to $1,130 as of 8:55 am Pacific time…the CDNX is closing in on its 52-week high…the Index is up 19 more points this morning to 1621 after a 26-point gain on Friday…that puts the CDNX just 8 points shy of its January high of 1629…the strength we’ve seen in the Venture Exchange recently is convincing evidence that gold is likely going to make a very powerful run…Sidon International Resources (SD, TSX-V) is up half a cent to 6.5 cents on over 2.5 million shares…BullMarketRun readers have been accumulating Sidon between 5 and 7 cents since last week…the company has a letter of intent for an option to purchase 80% of a highly prospective gold property in eastern Tanzania, a region that we believe has excellent potential to develop into a major new gold camp…more money has come out of the ground from that area in gold than has gone into it in terms of exploration dollars…in otherwords this is a very underexplored region with considerable upside potential…the high grade showings and what local miners have pulled out of the ground at Sidon’s proposed Morogoro East acquisition is stunning…over the last decade Tanzania has gone from a million ounces of gold reserves to over 50 million ounces as it revamped its Mining Act and turned friendly to foreign investment…gold is now a significant contributer to that African country’s annual GDP…Gold Bullion Development (GBB, TSX-V) continues to show strength and is currently unchanged at 29.5 cents…the market barely flinched when 240,000 shares were offered at 30 cents just prior to the opening bell…we expect GBB to announce the closing of its private placement by the end of the week…Noront Resources (NOT, TSX-V) is not in our portfolio but we’ve covered it here before and it’s a stock we really like…NOT‘s chart is looking very good with the stock breaking through its 200-day moving average this morning…Noront is currently up 18 cents to $1.85…great stock to hold for the long term…