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July 9, 2010

BMR Morning Market Musings…

Gold is showing some strength this morning…as of 7:50 am Pacific time, Gold is up $10 an ounce to $1,209 after yesterday’s dip below $1,190…the CDNX, which seems to have found good support at 1345, is up 10 points to 1363 this morning and appears poised for a rally (if it hasn’t already hit bottom) as our technical analyst suggested the other day…Gold Bullion Development (GBB, TSX-V) is firmer this morning, ahead half a penny to 48.5 cents…down 30% from its high less than 2 weeks ago, NOW is clearly the time to be aggressive again with this stock just like when Osisko pulled back 30% from an 80 cent high in September, 2005…the LONG Bars Zone with its multi-million ounce potential has far too much going for it for Gold Bullion to remain at 50 cents much longer…based on the 100+ page 1994 Granada Eastern Extension report we obtained from the Quebec Ministry of Mines, we have every reason to believe Gold Bullion is going to make a series of significant discoveries east of the Preliminary Block Model in Phase 2 drilling and in additional drilling after that…we’ll be reporting more on Gold Bullion over the weekend with an updated chart and our thoughts regarding the potential magnitude of the LONG Bars Zone…Gold Bullion became technically overbought a couple of weeks ago at 70 cents but that overbought condition has now cleansed itself, paving the way for a fresh move to the upside…Richfield Ventures (RVC, TSX-V) is looking stronger these days and found important support at 90 cents recently…RVC is ahead 4 pennies to $1.10 this morning…like Gold Bullion, Richfield is attempting to define a world class bulk tonnage deposit at its Blackwater Project in central British Columbia…we prefer Gold Bullion’s location (Quebec) but Blackwater has a lot going for it…keep a close eye on Richfield along with North Arrow Minerals (NAR, TSX-V) which should be drilling its Lac de Gras diamond property by next month…North Arrow has been in a tight range between 15 and 18 cents for the past month…

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