BullMarketRun.ca

From Rouyn-Noranda, Quebec (11:25 am eastern time):

Gold has suddenly turned lower after comments by Federal Reserve Chairman Ben Bernanke…as of 11:25 am eastern time it’s down $10 an ounce to $1,225…the U.S. Dollar is off sharply…the CDNX is up 1 point at 1453…Federal Reserve Chairman Ben Bernanke said this morning the economic recovery appears to be on solid footing but cautioned it could take years before the jobs market recovers from damage sustained during the deep recession…Gold Bullion Development (GBB, TSX-V) is consolidating around the 50 cent level…it opened at 52 cents this morning but has backed off slightly and is currently right at 50 cents, up half a penny on the day…after 2 days of strong gains, it’s not surprising to see GBB take a bit of a breather…we’re continuing to do research on the Abitibi region in Rouyn today…we’ll be visiting the Granada Gold Property for a final time tomorrow before preparing to head home…the BMR Portfolio as a whole is rather quiet today…Kent Exploration (KEX, TSX-V) continues to suffer from the fallout of the Australian mining tax proposal…Kent is off another penny to 11 cents…it should find support at a dime…Seafield is down half a cent to 17.5 cents with investors still waiting for word on the closing of the company’s recently announced proposed private placement…drilling is proceeding slowly at Richfield Ventures‘ (RVC, TSX-V)  Blackwater Project in British Columbia…the company came out with some encouraging drill results yesterday but only 4 holes of a planned 70-hole, 25,000 metre program have been completed during the first 6 weeks…the company has received permitting for a 2nd rig which will help to speed things up…Richfield is down a penny to $1.11…Sidon International (SD, TSX-V) is unchanged at 4.5 cents where bargain hunters will likely be stepping in…