Gold hit another record high this morning of $1,352.10…as of 9:45 am Pacific time, the yellow metal is up $7 an ounce to $1,348…Silver is ahead 18 cents to $23.05…the U.S. Dollar continues to drop and is now at 77.38, off a third of a cent…the CDNX continues to charge higher…the Index is up 8 points to 1776…Gold Bullion Development (GBB, TSX-V), not surprisingly, has increased its non-brokered private placement…strong demand has obviously come in for the 54-cent financing which will now be to a maximum of $8 million as opposed to $6 million…the company will have over $10 million in its treasury, a significant war chest to embark on an even larger Phase 3 drill program at Granada…GBB is currently down 2 pennies at 57 cents…Seafield Resources (SFF, TSX-V) has significantly expanded the potential of its Dos Quebradas Property at Quinchia in Colombia with three new major areas of interest…one of those is Santa Sofia where a soil anomaly has a surface expression more than twice the size of the company’s current known deposit at Miraflores…we have always viewed Dos Quebradas as an outstanding target – Seafield’s best at Quinchia – and this morning’s news from Seafield on the geochemical soil survey throughout the Dos Quebradas area confirms that…AngloGold Ashanti, after its limited previous work at Dos Quebradas, outlined the potential for a multi-million ounce deposit at that property…Seafield is now discovering new porphyry targets at Dos Quebradas that Anglo overlooked…drilling is expected to commence soon at Dos Quebradas…6 holes have been completed at Miraflores with assays pending…Seafield is hoping to expand the current 43-101 Miraflores inferred resource from nearly 800,000 to 1 million or more ounces…SFF is currently down a penny at 23.5 cents…GoldQuest Mining (GQC, TSX-V) hit a new 52-week high of 30 cents yesterday…the stock has backed off this morning and is currently down 1.5 cents to 26.5 cents…we are extremely bullish on this company and its prospects in the Dominican Republic and Spain…any pullbacks in GoldQuest over the last couple of weeks have been very minor and short in duration…there is huge potential with GQC…Sidon International (SD, TSX-V) is beginning to rebound after dropping as low as 9.5 cents Monday…we updated Sidon in an article we posted earlier this morning…we continue to believe strongly in the potential of the company’s Morogoro East Gold Property in Tanzania…Sidon has now completed its $1.3 million financing at 10 cents and also recently raised another $400,000 through the exercise of stock options…Sidon is up 2 cents to 12.5 cents on CDNX volume of 1.5 million shares…
October 6, 2010
14 Comments
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GOLD BULLION INCREASES PRIVATE PLACEMENT, GRANTS STOCK OPTIONS
Frank Basa’s Dog & Pony show continues!
Comment by max — October 6, 2010 @ 10:43 am
I am very dissapointed that they now increase the pp to över 15 million stocks with the directors 900.000 stocks at 0.48. They are ripping us of.. Who is the director that was given these stocks at that undervalued price? Very angry small stock owner with only 308.000 stocks bought on the right and fair way at 0.51.
Comment by Joakim — October 6, 2010 @ 11:57 am
Hey Basa, GBB stock dropped again after your last NR. where are the promised assay results?
Comment by max — October 6, 2010 @ 12:03 pm
Joakim, keep in mind there are good reasons companies have a stock option incentive plan. Also, this is only an option and comes with a 4-month hold as all options do. With regard to the financing, the company you have invested in has just been given another $2 million to put into its treasury. That will go a long way toward doing what needs to be done to further develop the property and move the share price higher. An additional 3 million shares makes little difference in the big scheme of things are far as dilution is concerned IMHO. Thank u for your feedback.
Comment by Jon - BMR — October 6, 2010 @ 12:27 pm
Hey Jon, with gold prices at almost $1350, GBB is stuck in the $0.50s. What do have to say about that?
Comment by max — October 6, 2010 @ 12:38 pm
That is what I thought, u have no answer for my question
Comment by max — October 6, 2010 @ 12:46 pm
Been visiting this site for about a month and I have been very impressed by the generosity and patience shown by the authors. I just wanted to thank all of you for your contributions.
Max, is there any answer that will appease your distress? I do not think so, please sell your shares and move on.
Comment by Paul — October 6, 2010 @ 2:31 pm
SFF new release is not really attractive … it probably will not hit 26 cents mark … probably I will sell now and come back later…
Comment by Theodore — October 6, 2010 @ 4:05 pm
Paul,what u dont understand is that I bought these stocks at almost $0.70 /share, since then the gold has gone up by atleast %25 and I have been sitting and hoping that GBB would start moving in the same direction. But all I have seen so far has been hype, hype and more hype with no real substance.
Comment by max — October 6, 2010 @ 5:05 pm
Max, it’s your fault for not doing homework and realizing that gbb was at it’s high point just asking for a pull back.
Comment by marc — October 6, 2010 @ 5:43 pm
what do u mean a pull back, GBB has gone no where in the past five months.
Comment by max — October 6, 2010 @ 5:56 pm
A reminder for everyone……let’s please keep things civil here…we encourage and welcome all opinions and feedback but personal attacks and insults will be deleted….this will not be allowed to become another SH.
Comment by Terry - BMR — October 6, 2010 @ 7:00 pm
Sorry Terry and everyone else. Let’s just all sit back, relax, keep focused and make some money!
Comment by Muiz — October 6, 2010 @ 9:59 pm
Max I understand your frustration, we all buy on the hype sometimes hoping for another great run to a buck, just look at NTR, and GNH both took off on very soft news and have since pulled back. I prefer the slow and steady climbs with CEO that take the right amount of time to get the stock where it should be when it should be there. You mentioned that the stock ahs done nothing for 5 months, not true if you notice this stock is a text book technical trade with almost predictable swings to make some short term gains while waiting for the next major move. The people at BMR are not pumpers nor are they fortune tellers, they simply provide a service (for free for that matter) that helps you to make your own informed desicion and so far there track record is outstanding.
Jon we emailed each other around Easter this year on a personal note the word we exchanged helped me alot I just want to say Thank you and for all out there that don’t like what they see here at BMR its simple don’t come back.
Wish everyone all the best and God Bless
Comment by Bruno — October 7, 2010 @ 4:42 am