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Gold is rebounding after dropping as low as $1,412 following the U.S. March jobs report…as of 9:30 am Pacific, the yellow metal is down $8 an ounce at $1,424…Silver fell just above $37 but is now off only 2 cents for the day at $37.65 while the U.S. Dollar Index has reversed sharply…it climbed as high as 76.60 but is now off one-tenth of a point at 75.96…U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8 percent, marking a decisive shift in the labor market that should help to underpin the economic recovery…nonfarm payrolls rose 216,000 last month, the largest increase since May, the Labor Department said this morning…January and February employment figures were revised to show 7,000 more jobs than previously reported…most experts agree the American economy is still facing significant headwinds and it could take several years to get the unemployment rate much lower…massive debts at the municipal, state and federal government levels pose serious risks to the economic recovery while the housing crisis has yet to bottom out…there will be considerable debate in the days and weeks ahead as to when the Fed’s easing cycle will start to come to an end…rate hikes still appear to be a long way off but Bernanke faces the critical decision of whether or not to continue with the Fed’s quantitative easing program beyond mid-year…in other economic news out of the U.S. today, the manufacturing sector grew at a marginally slower pace in March after accelerating at its fastest rate in nearly seven years the month before while construction spending fell more than expected in February to its lowest level since October, 1999…China’s official March purchasing managers’ Index (PMI) data, released this morning morning, showed the country’s manufacturing sector grew for a 25th straight month while factory inflation eased…New York and Toronto are both higher today…the CDNX is off 3 points at 2293 but seems to be strengthening…BMR has added Visible Gold Mines (VGD, TSX-V) to its model portfolio…we’ve mentioned this company quite frequently the past few months in our “Morning Musings” and we’ve researched it thoroughly during that time…the article we just posted outlines the “big picture” with VGD as we see it…this is an aggressive and well-run company with many strengths – not just its properties but its people…the fact Agnico-Eagle Mines (AEM, TSX) would cut a deal with Visible Gold on its Joutel Property (announced yesterday) speaks volumes…we’ll be getting into more detail with Visible Gold Mines in the near future…technically, the stock has shown tremendous support in the mid-to-upper 30’s and the 40-day moving average (SMA), in decline since December, has just swung positive…the 50-day has flattened out and could reverse to the upside as early as next week…the company has a healthy balance sheet with nearly 20 cents per share in cash…VGD is currently down 2 pennies at 40 cents…Abcourt Mines (ABI, TSX-V) is one of the CDNX trading leaders this morning…ABI is unchanged at 17 cents on volume of 2.5 million shares…the company is in the process of completing a financing at 18 cents that could add more than $5 million to its coffers…while the announcement of the financing took the wind out of the stock’s sails recently, it’s a positive move for the longer term as it will give the company the money it needs to possibly ramp up exploration efforts at its two key properties – Elder-Tagami and Abcourt-Barvue…both are former producers and contain significant 43-101 resources, especially the Abcourt-Barvue Silver-zinc deposit, but we’d rather see the company focus on continued and aggressive exploration at both properties rather than worrying about putting either into production…such an approach – making this an exploration play only – would be a much simpler strategy and would set-up ABI as a potential takeover target…Gold Bullion Development (GBB, TSX-V) is off a penny at 42.5 cents on light volume…given 500 holes of historical drilling in addition to initial results from the more than 250 holes GBB has drilled, it’s hard to imagine the 43-101 coming out this summer won’t confirm the company is sitting on a potential deposit of several million ounces or more…we encourage investors to keep focused on the Gold at Granada because we continue to believe there’s lots of it…it’s funny how people get excited about a Wal-Mart Rollback sale but often don’t see the same opportunities in what amounts to a stock rollback sale……Richfield Ventures (RVC, TSX-V) continues to head higher…it’s up another 30 cents this morning to $7.80…Richfield has been a tremendous success story which underscores the importance of staying focused on the fundamentals…sometimes it takes a while for the market to fully catch on to what a company is developing…investors who see the opportunity early and stick with the story can make a fortune…we added RVC to the BMR model portfolio in December, 2009, at $1.20…the stock fell as low as 90 cents in late June/early July of last year even when the fundamentals were improving…Richfield has already outlined 4 million ounces (43-101 indicated and inferred) at its Blackwater Project in central British Columbia and the current round of drilling will upgrade and likely add to those resources…a company with an even potentially bigger deposit on its hands is Gold Canyon Resources (GCU, TSX-V) with its Springpole Project about 100 kilometres northeast of the Red Lake mining area…Gold Canyon has been releasing some terrific results and is about to commence some deeper drilling with a fourth rig…a lot of our readers like stocks that are trading under 50 cents, like we do, but jumping in on a play like Gold Canyon at $3.30 makes a lot of sense if this company has an excellent shot at proving up 5+ million ounces as it does…assuming Springpole does contain at least 5 million ounces, each ounce in the ground is currently valued at only $75 on a fully diluted basis…plenty of upside in this play yet just based on simple math…GCU is currently unchanged at $3.30…