BullMarketRun.ca

Gold is strong this morning and as of 7:30 am Pacific time is up $9 to $1,225 per ounce…the CDNX is off 7 points to 1507 in sympathy with early weakness on the TSX…it’s a good day to accumulate as we believe June will be a strong month with the CDNX moving considerably higher… Gold Bullion Development (GBB, TSX-V) continues to motor along…GBB has been in a range of 43 to 44.5 cents this morning and after one hour of trading is off half a penny to 43.5 cents…BMR departs today for Rouyn-Noranda and the Granada Gold Property…our first full day in Rouyn will be tomorrow and we’ll be there through Saturday for our second on-site visit of this developing and potential world class bulk tonnage, open-pit deposit…Seafield Resources (SFF, TSX-V) is showing strength this morning…Seafield is up half a penny to 18.5 cents on nearly 1 million shares…Seafield’s proposed $2.5 million private placement is expected to close by Friday…we believe some fireworks will start with this stock shortly after that…now is the time for positioning…another excellent opportunity at the moment is Richfield Ventures (RVC, TSX-V) which has dropped all the way into the $1.20’s…in April this stock was trading over $2 and there’s no fundamental reason for such a large decline…RVC is technically very oversold and it’s important to note the drop in the share price has been on low volume and the stock is supported by a rising 200-day moving average…we expect continued good results this summer from Richfield’s Blackwater Gold Project in central British Columbia which has world class bulk tonnage potential, similar to Granada…we’re keeping a close eye on a company called Manitou Gold (MTU, TSX-V)…we suggest investors do their due diligence on this situation…Manitou is a new issue – it came on the Venture Exchange in March – and holds a dominant land position in the Gold Rock mining camp in northwestern Ontario where it’s currently drilling its Kenwest Property, very close to Seafield’s Elora Property…Manitou has 22 million shares outstanding, nearly $2 million cash in the bank, and is raising another $3 million on a flow-through private placement at 75 cents…the stock closed yesterday at 45 cents…MTU has been a fairly thin trader but we believe liquidity will improve once more investors get familiar with this company…Goldcorp holds a 15% stake in Manitou and we like the company’s properties, strong cash position and aggressive exploration approach…