BullMarketRun.ca

Gold has bounced around so far today in a range between $1,340 and $1,354…as of 8:30 am Pacific, the yellow metal is off $7 an ounce at $1,347…Silver has declined 8 cents to $23.20…the U.S. Dollar recovered very modestly after hitting a fresh 9-month low yesterday…the Dollar Index is now at 77.59 but well off its high of the day just below 78…despite the drop in precious metals and commodities in general this morning, the CDNX is 7 points higher at 1792…it hit a new 52-week high this morning of 1796…the CDNX is telling us that we’re likely to see Gold hit a new high in the very near future…Excel Gold Mining (EGM, TSX-V) is the newest stock in the BMR Portfolio and we’re expecting big things out of Excel beginning rather quickly…what excites us about Excel is the Gold and silver potential, not to mention the base metal possibilities, of its Montauban Mining Camp Project approximately 100 kilometres west of Quebec City…we visited the property in late August and since then we’ve done an exhaustive amount of research on this former producer…Montauban is a large structure that was intermittently mined for zinc, lead, copper, Gold and silver (nearly 4 million tonnes of ore in total) last century…geologists are now taking a fresh look at Montauban and discovering that there is an immense amount of untapped potential with this property and the surrounding area…Excel has tied up a large land package and the company’s geological consultants are also in the process of compiling an impressive amount of historical data related to Montauban, including assays from approximately 900 drill holes, in advance of a major drill program starting this fall…just one example of Montauban’s untapped potential is that Muscocho mined the North Gold Zone in the 1980’s to a depth of only 80 metres with average grades of approximately 7 grams per tonne…this zone, which also includes silver and base metal values, was traced for a length of 800 metres at the time and remains open at depth and along strike…the theory is that Muscocho only scratched the surface of what actually may exist at the North Gold Zone and overlooked mineralization extending further north…there is also a South Gold Zone which has received limited historical attention with the main base metal sulphide deposit (open at depth, historical non-compliant reserves, Gold and silver values as well) in the middle of the North and South Gold Zones…Excel has been trading in a tight range between 17 and 17.5 cents this morning…the stock has excellent liquidity and a very bullish chart…we see Excel as an exciting turnaround story fueled by a highly prospective property in one of the best areas of the world for mining and exploration…GoldQuest Mining (GQC, TSX-V), which has jumped more than 60% since we added it to the BMR Portfolio late last month, has hit a new 52-week high of 32.5 cents…GQC is uniquely positioned for success in the Dominican Republic where it has been active for nearly a decade and has several advanced-stage exploration projects…the company also has a major asset in the Toral zinc-lead-silver deposit in northwest Spain…Gold Bullion Development (GBB, TSX-V) is unchanged at 57 cents…we’re anticipating that GBB will close its $8 million financing by sometime next week with more news from Granada by month-end…Richfield Ventures (RVC, TSX-V) came out with news this morning, announcing it has acquired nearly 4,000 hectares immediately west of its Blackwater Project in central British Columbia…Richfield also stated that assay results on 4 more holes are expected next week, so some speculation may soon kick in here…Richfield is currently unchanged at its 20-day rising moving average of $2.75…RVC has consistently found support at its SMA-20 since early July, so the technicals and fundamentals both suggest this could be a strong week for Richfield with the potential for a new 52-week high…