BullMarketRun.ca

Gold is off $8 an ounce at $1,219 as of 9 am Pacific time this morning but the CDNX continues to build on its momentum from late last week…on much stronger volume today the Venture is up 4 points to 1464 in sympathy with the major markets which are enjoying a good day…Gold Bullion Development (GBB, TSX-V) hit a new all-time high this morning of 54 cents…as of 9 am the stock is ahead four pennies at 53 cents on just over 700,000 shares…the chart for GBB, as outlined by our technical analyst over the weekend, continues to look very powerful…Sidon International Resources (SD, TSX-V) is showing renewed strength this morning…Sidon is up a penny to a nickel on nearly a million shares…the company continues to wait for approval from the CDNX on a recently announced proposed private placement and a letter of intent regarding an option on the highly prospective Morogoro East Gold Property in Tanzania…a company we’re watching closely that is not yet in the BMR Portfolio is Manitou Gold (MTU, TSX-V) which was listed on the Venture Exchange just a few months ago…Manitou has raised over $5 million (a flow-through PP at 75 cents for nearly $3 million was approved by the CDNX Friday) for exploration of its properties in the Gold Rock mining camp in northwestern Ontario…they are currently drilling the former Big Master Mine which has many high grade showings and was a small producer for brief periods in the early 20th century…Manitou holds a large land package in that area which we believe is very attractive…armed with $5 million in its treasury, this company has a very aggressive exploration program lined up…Goldcorp Inc. (G, TSX) holds slightly more than 10% of Manitou’s nearly 27 million outstanding shares…Manitou is trading at 41 cents this morning…there’s not a lot of liquidity in this stock at the moment but that could certainly change in a hurry as drill results are released and more people become aware of this recently listed company…Seafield Resources (SFF, TSX-V), whose Elora Gold Property is immediately adjacent to Manitou’s Big Master Mine, announced the completion of an over-subscribed $3 million private placement Friday…Seafield should have a very active summer with a substantial drill program underway shortly at its gold properties in the Quinchia District of Colombia…Seafield has consolidated nicely just below 20 cents and technically appears ready to start climbing higher again after dropping from a yearly high of 35.5 cents in February to a low last month of 16 cents…Seafield is unchanged at 17.5 cents this morning…oversold Richfield Ventures (RVC, TSX-V) is down 2 more cents to exactly $1…Kent Exploration (KEX, TSX-V) is unchanged at 11 cents with a strong bid at 10.5…Kent is also technically oversold and should strengthen if it’s able to close its recently announced proposed private placement which would raise $600,000 at 10 cents…