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November 22, 2010

BMR Morning Market Musings…

Gold has traded in a range of $1,348 to $1,366 so far today…as of 8:35 am Pacific, the yellow metal is down $2 at $1,352…Silver is off 6 cents to $27.29 while the U.S. Dollar Index is up more than half a point to 78.80…the CDNX has followed up on strength late last week by climbing back above 2000 to 2005, a 9-point increase over Friday…the minor 8% correction that ended last Tuesday was exactly what the CDNX needed to unwind overbought conditions and start a fresh advance…Richfield Ventures (RVC, TSX-V) jumped 36 cents to a new all-time high of $3.60 this morning…the stock has now tripled since BMR picked up on this story just under a year ago…Richfield is developing the Blackwater Gold Project in central British Columbia where a multi-million ounce deposit appears to be in the making…Richfield came out with metallurgical test results this morning showing excellent conventional cyanidation recoveries averaging 92%… Richfield also got high recoveries (up to 94%) of Gold and silver into a bulk sulphide flotation concentrate…this project continues to impress and we continue to wait for the day when a major steps in…Richfield’s market cap is now $126 million with the stock currently up 27 cents to $3.51…at the other end of the country, Gold Bullion Development (GBB, TSX-V) – which also reported metallurgical results recently with recoveries as high as 97% – continues to make consistent progress developing the LONG Bars Zone at the Granada Gold Property, 65 kilometres west of Osisko’s (OSK, TSX) massive Canadian Malartic Deposit…results released Friday by GBB confirm the Eastern Extension is widening from north to south…it remains open in all directions with several kilometres of highly prospective strike length to the east yet to be explored…Hole #108 in the far north of the Eastern Extension returned an interval of 142 metres grading 0.70 g/t Au…this hole was collared 30 metres north of GR-10-55 which included 99 metres of 1.85 g/t Au…nearly 500 metres directly south, Hole #86 intersected 84.6 metres grading 1.00 g/t Au within a near-surface total interval of 128 metres of 0.76 g/t Au…this new north-south dynamic at Granada raises the strong possibility that the Preliminary Block Model (2.4 to 2.6 million potential ounces, non-43-101 compliant) could at least double in width by expanding considerably to the north and quite possibly to the south as well…the updated drill map on the GBB web site shows GENIVAR following a trail of mineralization east to west (outside the Block Model) and south to north (within the Block Model) with holes drilled directly north of the northeastern quadrant of the Preliminary Block Model…a substantial widening of the Preliminary Block Model appears to be in the works which would have major tonnage implications…by our calculations, assay results are pending on approximately 3 dozen Phase 2 holes drilled in the northeastern quadrant of the Preliminary Block Model, directly north of the Block Model and through the northern portion of the Eastern Extension…GENIVAR reported strong visuals on a number of those holes and they were bang-on with Hole #86 and the northern portion of the Eastern Extension…GBB is currently off a penny at 62 cents…Currie Rose Resources (CUI, TSX-V) is strong this morning as it threatens to start a new up-leg…initial drill results from Sisu River are pending – they could literally come at any time now…we’re very bullish on this property which forms part of Currie Rose’s Mabale Hills Project in northwest Tanzania…the company reported last Wednesday that 14 holes have already been completed at Sisu River and “good source rocks” have been intersected…we like the odds here and Sisu River is just part of a large package Currie Rose has assembled that offers tremendous upside exploration potential…we’re very excited with its Sekenke Project, a 300 square kilometre property that runs in between and surrounds two former producing high grade mines…CUI is currently up a penny at 23.5 cents…Colombian Mines (CMJ, TSX-V) is showing new technical strength…the stock is up 3 pennies to 86 cents…a move on strong volume through 95 cents would confirm the start of a major new move for CMJ

2 Comments

  1. Hello Jon,

    Any Updates on SFF and SD……It’s been long time no any news?….Thanks

    Comment by Eric Benson — November 22, 2010 @ 9:06 am

  2. Hi Jon,

    Sd have released a video on youtube showing their operations in Morogoro. I think its fairly impressive and it highlights that the samples they have released so far are just the leftovers that the locals didn’t bother with. Very impressive footage of the 1500mt vein and when we get some grades from this along with the drill program we should get moving with our share price. This will probably be added to the new website…

    Comment by patrick — November 22, 2010 @ 1:24 pm

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