BullMarketRun.ca

Gold has rocketed to a new all-time high this morning, hitting $1,375…as of 8:45 am Pacific time, Gold is up $19 an ounce to $1,369…Silver has climbed 46 cents to $23.77…the U.S. Dollar’s weakness continues with the Dollar Index down a quarter of a cent and trading just above 77…technically, the TSX Gold Index is by no means overbought and appears as if it could accelerate dramatically, confirming that Gold is likely going even higher in the immediate future…the CDNX confirms this is as well and our near term technical target of 1900 – 2000 on the Venture – very possibly this month – is looking  quite achievable…the CDNX has jumped 26 points to 1830…Excel Gold Mining (EGM, TSX-V), which we added last week to the BMR Portfolio, has come out with news this morning…3 significant pieces of information …the company will be releasing a report very soon (later this month) on “the most extensive compilation of historical data ever assembled pertaining to the Montauban Mine, a former producer of Gold, silver, zinc, lead and copper“…Excel is also preparing to launch a drill program at Montauban, aided by a soon-to-be-received 3-D Gemcom geological model of the Montauban mineralized structures…the company has also arranged a small financing of $750,000 at 20 cents (3.75 million flow through shares)…we are hugely bullish on this play based on what we’ve learned about the former Montauban Mine – a large structure approximately 3 kilometres in length – and the potential as well of the surrounding area as Excel has assembled a total land package of approximately 130 square kilometres…this company has reorganized itself and has brought in new blood including Frank Basa and Jacques F. Monette from Gold Bullion Development (GBB, TSX-V) to advance the Montauban Project as quickly and efficiently as possible…Excel is exactly the type of junior exploration company we love to uncover at BMR – overlooked with an undervalued property and a great turnaround story…there is also strong community and political support for Excel’s Montauban Project which we believe can be quickly put into commercial production, starting with the North Gold Zone…Excel is currently unchanged at 17 cents…GoldQuest Mining (GQC, TSX-V) took a strange and sudden drop over a 10-minute period this morning as it fell from a high of 32 cents to a low of 25 cents before rebounding…GQC is currently at 28 cents, down 2 pennies for the day…we can’t contribute the drop to anything but someone’s foolishness…GoldQuest has so much going for it and this company should be a tremendous performer as the bull market in junior golds intensifies in the coming months…Greencastle Resources (VGN, TSX-V), a company we have followed at BMR, came out with interesting news this morning as it’s getting back into the Gold exploration business after a 3-year absense from that space…Greencastle has nearly $6 million in cash on hand (its current market cap is only $7 million) and has entered into an option agreement to acquire a 100-percent interest in a property covering approximately 13,000 hectares (28 claims) in the Nechako Plateau region of British Columbia, on trend with Richfield Ventures‘ (RVC, TSX-V) Blackwater Project…there are work commitments attached to this option and Greencastle is immediately initiating a Fugro airborne magnetic and electromagnetic geophysical survey over the property to define targets for follow-up exploration…with this move by Greencastle, it’s probably safe to assume the company is also about to unlock the value of its Nevada gold assets…it has 2 promising properties (Jewel Ridge and Indian Creek) on the Battle Mountain Trend…Greencastle’s chart has recently turned quite bullish with a reversal in its 100-day moving average and increased volume…the stock is currently off half a penny to 15.5 cents…Richfield, meanwhile, is up a penny to $2.77 …more drill results from Blackwater are expected next week…Richfield is showing signs of a potential new breakout as detailed in John’s chart analysis posted earlier today…