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At BMR, we have been consistently bullish on Seafield Resources’ (SFF, TSX-V) Quinchia Gold Project in Colombia for more than a year.  The slow start to a 2010 drill program and a long wait for initial assay results were quickly forgotten earlier this month, however, when Seafield released Hole #3 from Miraflores – 449 metres grading 1.3 g/t Au.  The stock skyrocketed from the low 20’s to an all-time high of 77 cents on incredible volume (90 million shares, CDNX and ALPHA, December 3).  Seafield’s goal at Quinchia is to define at least three significant deposits in close proximity to each other – Miraflores, Dos Quebradas and Chuscal – that provide a total resource of five million ounces or more.   Dos Quebradas, rich in porphyry targets over a wide area, has the best potential of the three in our view.  The first three holes have now been completed at Dos Quebradas and Seafield has reported positive visuals.  A total of 12 holes were drilled at Miraflores and results are pending on nine of them.  The trading action in Seafield over the last couple of weeks has been very bullish in the eyes of our technical analyst.  The stock closed today at 54 cents (an 800% increase from when we first introduced Seafield) and the company is in the process of closing a $15 million financing at 50 cents. With a current market cap of only $58 million, this is a very attractive play for 2011 as John outlines in the chart below.

It has been a spectacular year for Richfield Ventures (RVC, TSX-V) which has made huge progress in outlining a potential multi-million ounce Gold deposit (silver and copper credits as well) at its Blackwater Project in central British Columbia.  We introduced Richfield to BMR readers a year ago when the stock was sitting at $1.20.  It got as high as $2.25 in March before dropping briefly below $1 in late June/early July.  That’s when its big run kicked into gear and by mid-September Richfield was trading at all-time high of $3 with very encouraging new drill results coming in from Blackwater.  The company completed a $15 million financing in September, and this was followed by more outstanding results and another new high of $5.10 by late November.  Richfield closed at $4.50 today, a whopping 275% increase from when we added it to the BMR Portfolio.  Richfield will be drilling aggressively throughout the winter at Blackwater and some more exciting results are no doubt on the way.  This company, which has a current market cap of $174 million, is a possible takeover candidate within a year upon completion of a 43-101 resource estimate.  John provides a brief technical analysis in the chart below.

Gold has traded in a range of $1,380 to $1,393 so far today…as of 8:45 am Pacific, the yellow metal is down $2 an ounce at $1,384…Silver is off 4 cents at $29.31 while the U.S. Dollar Index has declined one-tenth of a point to 80.52…barring any dramatic geopolitical developments, Gold is likely to remain relatively quiet in thin trading through the Christmas period and New Year’s…the CDNX got as high as 2151 this morning (the beginning of a resistance band) but is now unchanged at 2147…John is working on a detailed new chart for the CDNX, which we’ll be posting in the next couple of days, and the outlook is extremely positive…we’re also providing brief technical reviews on each of the 11 stocks in the current BMR Portfolio…Sidon International Resources (SD, TSX-V), Greencastle Resources (VGN, TSX-V), Adventure Gold (AGE, TSX-V) and Excel Gold Mining (EGM, TSX-V) were reviewed last night…more companies will be covered this evening…Gold Bullion Development (GBB, TSX-V) surged to a new all-time high yesterday of 93 cents…a chart tells so much about the health and prospects of a company, and GBB’s chart is certainly a picture of beauty…the stock is quieter this morning, off 2 pennies at 85 cents…Cadillac Mining (CQX, TSX-V) has pulled back slightly which opens up an even better opportunities with this gem that we discovered a couple of weeks ago…CQX is down 2 cents to 39 cents which drops its market cap slightly below $10 million…it fell as low as 36.5 cents this morning, just above the supporting 10-day moving average…this is one of our favorite situations for 2011 which we anticipate will be a breakthrough year for Cadillac as we have already outlined…we’ll be announcing details shortly regarding our upcoming trip to Rouyn-Noranda which will include extensive coverage of CQX…GoldQuest Mining (GQC, TSX-V) has started a Phase 2 drill program at its highly prospective La Escandalosa Property (formerly Las Tres Palmas) in the Dominican Republic…30 to 40 holes totaling approximately 2,500 to 3,500 metres will be drilled in this Phase as the company tests potential extensions along strike to the north and south of the Escandalosa Sur deposit…alteration and mineralization have been traced for 2,200 metres at La Escandalosa which holds a lot of exploration upside…GQC has several other high quality targets in the DR, and a 43-101 resource estimate is expected in the near future for the company’s zinc-lead-silver deposit (Toral) in Spain…GoldQuest is up a penny at 39.5 cents…we’re continuing to review Everton Resources (EVR, TSX-V) which came out with initial assay results yesterday from its APV Property in the DR which borders the huge Pueblo Viejo deposit…the numbers certainly weren’t spectacular but they were definitely encouraging and Everton remains on our “watch list”…it’s currently off a penny at 35 cents…

Sidon International Resources (SD, TSX-V) is up 270% since we introduced it to our readers at a nickel last spring.  Sidon has matured considerably as a junior exploration company over the last six months and is currently drilling its Morogoro East Gold Property in east central Tanzania.  Sidon is also enjoying some early success as it tries to develop a placer resource (and a revenue stream) at Morogoro East, and the company recently secured a 5,000 hectare land package near Canaco’s (CAN, TSX-V) Magambazi discovery.  This has been a year of major accomplishments for Sidon.  The stock has a lot of liquidity which investors like.  Given how this company keeps moving forward, we have every reason to believe that 2011 could be a real “breakout” year for Sidon.  John provides a brief technical analysis in the chart below.

Greencastle Resources (VGN, TSX-V), which has become much more active in the Gold exploration space, has jumped 161% since we added it to the BMR Portfolio in mid-October.  Given the fact this company is actively searching to add at least one more Gold project to its portfolio (an “advanced” one), the excitement is likely just beginning with Greencastle which ran from 12 cents to 63 cents in its last big run in mid-2008.  Greencastle has working capital of approximately $6 million, three quality Gold projects currently, and an oil royalty bringing in over $100,000 per month and valued at over $5 million by an engineering firm a year ago.  Today’s close of 36.5 cents gives Greencastle a market cap of only $16.4 million.  There’s strong fundamental value here and the company has signaled it’s going to work hard to get the market to recognize that value.   John provides a brief technical analysis in the chart below.

Adventure Gold (AGE, TSX-V) has several key properties that could help power this stock much higher in 2011.  Drilling is underway at AGE‘s 100% owned Pascalis-Colombiere Gold Property in Val d’Or east where the former L.C. Beliveau Mine will be tested for extensions of structures at depth and near-surface.  The company also has valuable partnerships with Agnico-Eagle (Dubuisson Gold Property, just west of Val d’Or) and Lake Shore Gold (Meunier 144 Gold Property, Timmins West, where deep drilling continues).  And of course, Adventure Gold has acquired some strategic parcels of land at Granada and expects to commence a drill program there early in the New Year.  Technically, AGE is looking very strong.  John provides a brief analysis in the chart below.

Excel Gold Mining (EGM, TSX-V) has struggled the past couple of months but showed some life today as it reversed from a low of 10.5 cents and closed at 13.5 cents, its high of the day.  Excel is down 16% since we introduced it to BMR readers in early October (the only stock in our model Portfolio that has actually declined in value).   We have stuck with this situation, however, as the company is an excellent turnaround candidate and has a valuable asset in its Montauban Mining Camp Project (Gold, silver and base metals) – drilling started last month.  Excel has great potential but it’s obvious that investors are going to have to be patient with it.  John provides a brief technical analysis in the chart below:

Between tonight and Wednesday evening, BMR will be updating the charts for each company in the BMR Portfolio.  We begin this pre-Christmas review later this evening with a look at Sidon International Resources (SD, TSX-V), Adventure Gold (AGE, TSX-V), Greencastle Resources (VGN, TSX-V), and Excel Gold Mining (EGM, TSX-V).