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The perfect storm for Gold has moved the yellow metal above the $1,500 mark…as of 8:20 am Pacific, Gold is $9 higher at $1,504 while Silver has jumped $1.07 to $45.03 as it inches ever closer to an all-time high…crude oil is stronger, up nearly $2 a barrel to $110.19 while the U.S. Dollar Index has tumbled to 74.41, about half a point above critical support…the mix of inflation, low interest rates, currency debasement, debt issues from the euro zone to the United States, geopolitical tension, flat mine supply, demand from emerging markets and other factors are all blending together to provide an incredible underpinning for Gold…if investors get comfortable with Gold at $1,500, look out…John’s January prediction of $1,650 by June is looking very achievable…after seven consecutive days on the downside – a pullback of 179 points or 7.5% given the 2400 high April 11 and yesterday’s low of 2221 – the volatile CDNX is now pushing higher in the first sign that a reversal could now be at hand and that the 2200 level may hold as support…the Index is up 34 points to 2267 as of 8:20 am Pacific…Gold Canyon Resources (GCU, TSX-V) has announced a bought deal private placement of approximately $10 million (flow-through at $3.65, hard cash at $3.05) with a syndicate of underwriters led by Cormark Securities Inc. and Fraser Mackenzie Limited…closing of the offering is expected on or about May 11…GCU is developing a potentially world class Gold deposit with its Springpole Project just over 100 kilometres northeast of the Red Lake mining camp…Fraser MacKenzie’s mining analyst already sees at least 5.5 million ounces at Springpole and Gold Canyon will be releasing an updated 43-101 sometime during the second half of the year…GCU is a “keeper” and it’s currently 21 cents higher at $3.43…Abcourt Mines (ABI, TSX-V) could close a major financing as early as tomorrow at 18 cents and the stock is sitting at 16.5 cents this morning, only a penny and a bit above its rising 200-day moving average (SMA) which provides excellent support…ABI is simply a no-brainer opportunity at 16.5 cents with this company sitting on two highly attractive projects with proven 43-101 resources at Elder-Tagami (Gold) and Abcourt-Barvue (Silver and zinc)…Levon Resources (LVN, TSX-V), which recently announced a $40 million bought deal at $1.95, has hit a new all-time high of $2.30…this is a highly attractive situation worth extensive due diligence…Orko Silver (OK, TSX-V) is a company we haven’t mentioned before that’s also worth a serious look at…Orko is developing one of the world’s largest primary Silver deposits in Durango, Mexico…Spanish Mountain (SPA, TSX-V) is looking very attractive technically and fundamentally…a recent reversal in the stock’s 50 and 100-day moving averages (SMA’s) suggests SPA may take a serious run in the near future at its 2010 high of 83 cents…near-record volume came into the stock last Thursday when SPA got a buy recommendation from an analyst on CNBC…SPA’s current market cap of $90 million is indeed cheap based on the Preliminary Economic Assessment released late last year for this advanced stage, multi-million ounce deposit in south central British Columbia…Gold Bullion Development (GBB, TSX-V) has an even lower market cap than Spanish Mountain but GBB’s initial 43-101 for Granada will be coming out sometime this summer and we’re expecting some robust numbers…GBB’s rising 20-day moving average at 48 cents is providing technical support with the stock currently off half a penny at 48.5 cents…as we’ve stated repeatedly, there is exceptional long-term value with GBB and the LONG Bars Zone…the proposed Castle spin-off is an added bonus…the next rising star along the Cadillac Trend, in our view, is Visible Gold Mines (VGD, TSX-V) which the masses have not discovered yet (it’s always best of course to get in before they do)…there are several reasons why we are so bullish on VGD…Robert Sansfacon, the company’s senior geologist, is highly respected in the industry and played a key role in the discovery of Osisko’s (OSK, TSX) Canadian Malartic deposit…Martin Dallaire, VGD’s President and CEO, is a very successful entrepreneur in Rouyn-Noranda who is extremely well-versed in the mining industry…he has a strong financial background and a clear strategy to build shareholder value…he has assembled an exceptional team and a land package that offers high potential for a significant discovery…we’ll have more on VGD later today in a separate report…the stock is currently up a penny-and-a-half at 37 cents…GoldQuest Mining (GQC, TSX-V) is up half a penny at 26.5 cents on light volume after yesterday’s sell-off that dropped the stock as low as 25 cents….initial results from La Escandalosa yesterday disappointed the speculators but were were strong enough to support continued expansion of this deposit in the Dominican Republic…GQC’s goal is to outline at least 1 million ounces at La Escandalosa and that possibility is still very much intact given yesterday’s news…the fact a possible southern extension to La Escandalosa is now doubtful is not a major issue as the ground going north has always been regarded as more prospective…a lot more work is required at La Escandalosa but this remains a very intriguing project…this company has a lot going for it in both the Dominican Republic and Spain while the stock has shown strong support at 25 cents…for patient investors we see huge potential from here for GQC…the 500-day moving average (SMA) is rising and at 20 cents which shows that the downside potential from current levels is very limited…a reader commented yesterday that Seafield Resources (SFF, TSX-V) is a “dog”…we remember hearing similar comments last year when the stock was struggling under 20 cents and then all of a sudden of course it exploded to nearly 80 cents in December…Seafield is trading at 30 cents this morning and it’s still very early in the game for its Quinchia Project in Colombia where two rigs are currently operating, one at Dos Quebradas and the other at the nearby Santa Sofia target…we’re convinced that both properties will reveal Quinchia’s blue sky potential…results from only three holes have been received from DQ (one was outstanding and confirmed an historical hole) while drilling has just started at Santa Sofia…the company is also sitting on $15 million in cash…bargain hunters who are patient could see this “dog” perform some amazing feats in the not-too-distant future…