BullMarketRun.ca

Markets are quiet across the board this morning…Gold is off $1 an ounce to $1,233 as of 8:20 am Pacific time while the CDNX is down 1 point to 1461…there’s a little profit taking in the major markets after yesterday’s 200+ point moves…Gold Bullion Development (GBB, TSX-V), which hit another new all-time high yesterday, has pulled back slightly this morning which is certainly healthy from a technical point of view…the stock has advanced sharply over the last 8 trading days from a low of 41 cents June 3…GBB is off 2 cents this morning to 55 cents…Sidon International Resources (SD, TSX-V) is up another half penny to 6.5 cents after announcing yesterday they’ve filed a NI-43-101 technical report on the Morogoro East Gold Property in Tanzania…Sidon has signed a letter of intent with a private company for an option to acquire that highly prospective property…Sidon is now waiting for approvals from the CDNX on its recently completed private placement and the paperwork it has filed with the Exchange regarding Morogoro…the stock has been under very heavy accumulation since March…Kent Exploration (KEX, TSX-V) has stabilized following the recent announcement of its proposed $600,000 private placement…Kent is currently off half a penny to 11.5 cents but has clearly found a strong area of technical support…we’d like to see the closing of the PP as soon as possible before commenting further on Kent…Richfield Ventures (RVC, TSX-V), interestingly, has just touched its rising 300-day moving average at just below $1…the stock is technically heavily oversold and due for a rebound…we remain very bullish on the prospects for Richfield’s Blackwater Gold Project…drilling has been slow at Blackwater and early Phase 2 drill results have not been “stellar” which helps explain the stock’s sharp fall recently but the selling appears to have been overdone…