BullMarketRun.ca

The markets are taking a breather this morning although gold continues to show strength…it was down as much as $9 overnight but has reversed to the upside and is now ahead $6 an ounce to $1,136 as of 7:50 am Pacific time…the CDNX hit a new 52-week high yesterday, confirming our recent prediction, and is up three more points this morning to 1635…it seems quite certain to us that the Venture is going to take a run to at least the 1700 level…BullMarketRun readers have been accumulating Sidon International Resources (SD, TSX-V) between 5 and 7 cents over the past week…the stock has traded between 5.5 and 6 cents this morning on 2 million shares…the accumulation opportunity here with the heavy volume is extremely attractive as we believe the company’s proposed acquisition of the Morogoro East gold property in eastern Tanzania will move ahead quickly and will add very significant value to Sidon…this situation has some similarities to Seafield Resources (SFF, TSX-V) which was also a great accumulation target between 5 and 7 cents last summer…we expect things to move more quickly with Sidon, however…Morogoro also has a significant high grade component which adds a nice dimension to that play…Gold Bullion Development (GBB, TSX-V) is down slightly again this morning to 28 cents…we expect the company’s private placement to close within the next few days…we’ll be adding a very interesting 8th company to the BMR portfolio very shortly…if you haven’t already subscribed to the BMR eAlert system, simply send us an email ([email protected]) with eAlert in the subject line and your first name…