Gold has hit another record high of $1,337.70 as the U.S. Dollar has come under renewed pressure, dropping below 78 on the Index…central banks in Japan and Australia overnight adopted more stimulative monetary policies…the belief is the Fed will soon follow suit with more “quantitative easing”…this scenario is extremely bullish for Gold and negative for the greenback which is in danger of falling below key some key support levels…as of 7:45 am Pacific, Gold is up $21 an ounce to $1,336 while Silver has jumped 59 cents to $22.46…after some profit-taking yesterday the CDNX is again charging higher as expected…the Venture is currently up 24 points to 1764…Gold Bullion Development (GBB, TSX-V) is up 2 pennies to 58 cents…GBB is looking stronger technically…GoldQuest Mining, the newest company in the BMR Portfolio, continues to shine…we love the fundamentals with GoldQuest which tell us this stock should be a star performer for quite some time…GoldQuest is going to be very active in the Dominican Republic where it has several advanced stage exploration projects covering 3 separate districts in that mineralization-rich country (the DR hosts one of the world’s largest gold deposits, Pueblo Viejo, with over 20 million ounces)…GQC has been exploring there for nearly a decade – their chance of a major discovery is significant, and they already have 2 exceptional targets in Las Tres Palmas and Las Animas…in addition, GoldQuest has the Toral zinc-lead-silver deposit in northwestern Spain (Lundin Mining is a partner) which is big enough for production and remains open along strike and downdip…Toral has an historical non-compliant resource in excess of 5 million tonnes grading 9% zinc, 6% lead and 45 g/t Ag…Micon International is currently completing a 43-101 on Toral…GoldQuest has also secured another polymetallic deposit in northwest Spain, about a 20-minute drive from Toral…GoldQuest has a history of sharp, sudden moves and in one day in June, 2006, gapped up from under 40 cents to $1.20…it recently broke out of a 2-year consolidation on high volume which is extremely bullish…the stock has hit a new 52-week high this morning of 25.5 cents…we suggest investors perform immediate due diligence on GQC…we’re keeping a close eye on Bayfield Ventures (BYV, TSX-V) which John featured in “Technically Speaking” yesterday…Bayfield has been getting some very encouraging drill results from its propertly immediately adjacent the Rainy River (RR, TSX-V) deposit in northwestern Ontario…Bayfield has been consolidating recently after hitting an all-time high of $1.38…it’s up 2 pennies this morning to $1.18 and has a bullish looking chart as John detailed yesterday…overlooked in the rush toward the golds is Noront Resources (NOT, TSX-V) which is fundamentally undervalued in our view and has a 100-day moving average that could reverse to the upside very soon…Noront is currently ahead 4 cents to $1.31…
October 5, 2010
3 Comments
Sorry, the comment form is closed at this time.
-
-
-
-
Press "Reload" for fresh quote
Hi Jon,
Great timing on the GQC call..caught the price sweet spot nicely and looks like plenty of upside. There is a report on Stockhouse on the SD AGM and the management were seemingly very impressive. The assays are in a lab in Dar Salem awaiting testing, the drill targets are already picked and ready for action and the money is now available to move ahead. They expect a revenue stream within the next few months from placer mining. I presume that’s from the 50-50% agreement they have in place with the local miners and all SD have to do is supply them with water which the locals can’t access. So we should have impressive results soon and a stream of revenue to support continued drilling. Also management feel there is a modern gold rush going on in Tanzania and they intend to expand their land package through their existing contacts. An IR firm will soon be appointed to keep us investors up to date with developments and all in all they seem to be giving this project a proper go. I hope this helps other shareholders who like myself were getting a bit worried with progress.
Comment by patrick — October 5, 2010 @ 12:30 pm
Hi Jon, looking forward to more comments on SD. Not much from the company lately. Also, I was wondering why GBB is getting less attention lately. Is it because the communication lines from GBB is dwindling, or is it just a case of waiting for the next results and or PP to close.
regards,
Comment by Dan — October 5, 2010 @ 2:29 pm
SFF seems to have a good support at 24 cents. The stock tested a few times at 22.5 cents and quickly bought back at 23-24 cents range. I agree with Jon’s comments and it will move up as soon as the ‘good’ news comes out. It will test the 29 cents mark and how far it can go, it all depends on the drill results. Be patient …
GBB is another stock that we need a lot of patience, currently at 59 cents and it is going up slowing after a good consolidation at 55 cents level.
Comment by Theodore — October 5, 2010 @ 5:26 pm