Gold has traded between $1,369 and $1,382 so far today…as of 8:55 am Pacific, the yellow metal is off $3 an ounce at $1,373…tensions between North and South Korea are likely to limit any potential pullback in Gold…Silver is down 4 cents at $27.47 while the U.S. Dollar Index is up one-tenth of a point at 79.72…the CDNX continues to hold above 2000 which is positive…the Venture is ahead 7 points at 2009…markets are up significantly in Toronto and New York…on the day before American Thanksgiving, the Dow is posting a triple digit gain…there were some positive economic reports out of the U.S. this morning…consumer sentiment rose to its highest level since June on tentative signs of improved job conditions and early discounts for retailers…new U.S. single-family home sales fell unexpectedly in October, however, and prices dropped to a 7-year low…Gold Bullion Development (GBB, TSX-V) is unchanged at 65 cents after staging a strong rally from the 60-cent level yesterday…GBB got a boost from a Jay Taylor interview with Frank Basa…Taylor has a solid reputation and we’re glad to see he may finally be picking up on the story…BMR will be doing its own interview with Basa in the near future…Basa confirmed in the Taylor interview what we’ve been reporting the last several days since the release of more drill results last Friday from Granada…the LONG Bars Zone is indeed widening (north to south) with several kilometres of very prospective strike length to the east still to explore…volume on GBB is actually higher on the ALPHA market today (424,000) than the CDNX (299,000)…Basa made an indirect reference to Adventure Gold (AGE, TSX-V) on the Taylor show, saying other companies are getting good results in the general area around Granada…we spoke with Marco Gagnon from Adventure Gold last night and he’s very excited about what’s developing at Granada…investors should take a close look at AGE’s chart which is extremely impressive as John pointed out in his article last night…AGE is currently unchanged at 45 cents…Currie Rose Resources (CUI, TSX-V), one of our favorites at the moment, has hit a new 52-week high of 28 cents…this is an exciting, pure Gold exploration play with serious potential to uncover another discovery at its Mabale Hills Project in northwest Tanzania where drilling continues at Sisu River…initial drill results are pending – this is one to watch very, very closely…Richfield Ventures (RVC, TSX-V) is taking a breather after a big move yesterday when it jumped 98 cents on new drill results from Blackwater…we’ve been extremely bullish on Blackwater since December last year when we brought RVC to our readers’ attention when it was trading at $1.20…the stock is currently off 6 cents to $4.47…Seafield Resources (SFF, TSX-V) is firming up again after touching a recent low of 17 cents…the weakness in the stock lately has been frustrating given the potential of its Quinchia property package in Columbia…Seafield is up 2.5 cents at 21.5 cents on over 1 million shares…
November 24, 2010
9 Comments
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Things over at Sidon seem to be stalled. Have you heard anything worth reporting from them or is it just a matter of being patient? Thank you in advance.
David
Comment by David — November 24, 2010 @ 9:06 am
The chart looks really good…..SD is underpinned by very strong support at current levels. It is a matter of being patient – I don’t think it’ll be long before things start to fly. The stock price may have stalled but activity on the ground at Morogoro certainly hasn’t stalled. This continues to look very good. Just a waiting game at this point. These things can turn suddenly.
Comment by Jon - BMR — November 24, 2010 @ 9:40 am
any opinion on the sudden interest/hike for SFF?
Comment by M. — November 24, 2010 @ 10:25 am
AGE is overvalued and overbought @$0.50. Market cap: 24000000. WOW
Comment by Max — November 24, 2010 @ 11:22 am
Interesting. Same comment “blueeagle” made at AGE SH forum. I won’t comment further – our readers can figure this one out.
Comment by Jon - BMR — November 24, 2010 @ 1:07 pm
SFF off to the races. Whole new gold district. Patience wins yet again.
Comment by patrick — November 24, 2010 @ 1:24 pm
Hey Jon, If you are suggesting that I am blueeagle, you are wrong, but I still think that AGE is overbought with 24000000 market cap, just my opinion, what do u think?
Comment by Max — November 24, 2010 @ 2:03 pm
Max, we’re in the midst of the greatest bull market of your lifetime and mine (I’m 46 years old). AGE is a project driven company with partnerships with Agnico-Eagle and Lake Shore Gold…..and to top if off, if there’s going to be a large open-pit deposit at Granada as we believe is highly possible, that deposit will run right through the slice of ground that AGE has (they’re also to the south and west of GBB). Adventure Gold is a pure gold company with some outstanding properties, a nice share structure, and $4 million in cash and securities. Is the stock technically overbought? NO. Is the company fundamentally overvalued in the context of the market we’re currently in? NO. I do hold a position in AGE so you can argue I’m biased, but I hold that position because I believe this has “opportunity” written all over it. I wouldn’t even think of selling at the current price. Just my opinion!
Comment by Jon - BMR — November 24, 2010 @ 2:50 pm
Jon, I appreciate you comment but, Obviously we have different views on AGE, however, I still think BMR is an excellent site and I am thankful of course, for the great job u do here.
Comment by Max — November 24, 2010 @ 3:23 pm