BullMarketRun.ca

Gold is rebounding this morning after a sharp sell-off yesterday…as of 8:35 am Pacific time, Gold is up $8 an ounce to $1,241…the CDNX is off 3 points to 1470…Gold Bullion Development (GBB, TSX-V) is unchanged at 57 cents…an intra-day reversal yesterday took GBB from a low of 53 cents back up to the high of the day at 57 cents…buyers have shown a strong tendency to swoop in on even any minor weakness in GBB…the first set of Phase 2 drill results from Granada are likely just around the corner as drilling began 7 weeks ago…there’s every reason to believe that in general the Phase 2 results from Granada should be even better than Phase 1 given the fact GENIVAR has a much enhanced understanding of the overall geological system at Granada after the 2,800 metres of shallow drilling last December and January…what will also be very interesting to see in the Phase 2 results is the mineralization below 100 metres vertical depth where very few holes have ever been drilled at the property...Fire River Gold (FAU, TSX-V), developing the Nixon gold mine project in Alaska, is up 4 pennies to 60 cents…the company just finished raising $4 million and has proposed another $3 million financing at 50 cents…due to the financing Fire River is likely “range bound” for a short time until that is completed, but this is an attractive and interesting situation that deserves attention…Fire River has the potential to be a very strong performer over the summer as they’ll be starting a major drill program shortly at Nixon…Sidon International (SD, TSX-V) remains unchanged at 6 cents…the company is anxiously waiting for approvals from the CDNX regarding its private placement and letter of intent for an option to acquire the Morogoro East Gold Property in Tanzania…Seafield Resources (SFF, TSX-V) is quiet with no trades so far today after closing at 17.5 cents yesterday…Seafield is in a strong cash position and the company is getting set to start a major exploration program at its Quinchia properties in Colombia…it has been a frustrating few months for Seafield investors with the stock dropping in half from its late February high and seemingly stuck in the mud at current levels…patience is critical with the market…Seafield remains a very strong play and a sharp turnaround in the stock is close at hand in our view…