BullMarketRun.com

Gold is slightly weaker this morning, down $3 an ounce to $1,193 as of 8:20 am Pacific…the CDNX, which has been up 10 of the last 11 sessions, is off 2 points to 1452…a slight pullback to around 1425 to test the 50-day moving average is certainly possible, but this is a strong market that should only get stronger in the weeks ahead…the overhead resistance at 1500 and slightly above is significant but the market should be able to overcome this by sometime in September if not a little sooner…we’re so bullish on the CDNX based on a number of technical and fundamental factors, and the 2010 chart is so strikingly similar to that of 2004 when the CDNX also bottomed in July and moved 25% higher by year-end…Gold Bullion Development (GBB, TSX-V) is up a penny to 58 cents…the shares from the April financing that officially become free trading Monday are not a big concern for us…the market soaked up the 7 cent private placement stock from December like a sponge in April and May with little downside effect…realistically, some investors will certainly sell their 21.5 cent stock (some may have done so already through a short selling technique) and “ride” the 30-cent warrant…but there will be plenty of buyers around with assays from the eastern zone expected soon…we have every reason to believe, as pointed out yesterday, that Gold Bullion may indeed pull out a few “monster holes” in the east that will take this very compelling geological story to a whole new level…those who are trading their positions need to understand the possibility exists that they could wake up one morning soon to a halted stock and a serious gap-up if GBB indeed hits a “sweet spot” in the east…out of 27 holes in the east that were described in general terms in the last news release, there’s a strong chance that at least some of them are outstanding based on the visuals and what we know so far about the geology in that area…North Arrow Minerals (NAR, TSX-V) has acquired a 100% interest in mineral claims in the north-central Yukon Territory…the target is carbonate-hosted gold mineralization similar to the newly discovered Rau (Tiger Zone) deposit of ATAC Resources (ATC, TSX-V), up 25 cents this morning on very good drill results, 70 kilometres to the east…North Arrow will immediately proceed with a program of silt sampling, prospecting and contour soil sampling…the company has also increased its recently announced private placement financing to just over $700,000…there’s a lot going on with this company, and of course North Arrow is also gearing up for a planned drill program at its flagship Lac de Gras diamond property in early September…Richfield Ventures (RVC, TSX-V) is up 2 pennies to $1.55 this morning…we’ll be posting an updated chart on RVC later today…this stock has performed very well over the past month after taking a beating in May and June…Richfield is developing the Blackwater Project in central British Columbia as a potential world class bulk tonnage gold deposit with silver and copper credits as well…Seafield Resources (SFF, TSX-V) is firming up a little bit…it’s ahead half a penny to 17.5 cents with a very strong bid at 17 cents…initial assay results from Miraflores are expected by about mid-month…we’ve pointed this out before many times, but we see a situation developing where Seafield is going to be able to add considerable ounces in the ground at its Quinchia Project by year-end…the company’s goal is to prove up a million ounces at Miraflores and another million at Dos Quebradas by year-end…a 43-101 inferred resource of 800,000 currently exists for Miraflores while there’s a non-compliant in-house estimate of 800,000 ounces for Dos Quebradas…