BullMarketRun.ca

Gold reversed course this morning, retreating from $1,139 into a zone of strong support…gold is off $9 to $1,125 as of 8:05 am Pacific time…the CDNX is up 5 points to 1,563 as it continues to head higher despite gold’s weakness this morning…Gold Bullion Development (GBB, TSX-V) is having another strong day, hitting a new 52-week high of .275…GBB is currently up 2.5 cents to 26 cents on nearly 2 million shares…given what Gold Bullion has discovered so far at Granada on the drilling of just 3,000 or so metres (25 holes, with 13 still to report), one can only imagine what could happen when they soon launch a large third phase of drilling…the gold mineralization appears to be near-surface and widespread over this property which stretches 2 kilometres north-south and 7 kilometres east-west…what the market hasn’t also really taken into account yet is that Gold Bullion has also encountered some copper and nickel values at Granada…to the best of our knowledge nickel has never been recovered in that area before, so the source of that nickel is interesting indeed and could be determined as drilling expands…the appetite for this stock is understandable given the potential here, and we see no reason why GBB should be trading at a market cap below that of its northern neighbor Yorbeau Resources (YRB.A, TSX)…while gold is off this morning, the TSX Gold Index is down just slightly at 332…the Index is looking strong technically right now…combined with how the CDNX is performing, there’s little doubt in our mind that gold is going to charge ahead forcefully…