BullMarketRun.com

The markets we mostly cover at BMR – Gold, Silver and the speculative Venture Exchange – have not performed well or as expected recently, but rest assured there are better days ahead.  Whenever this much pessimism and negativity set in, you know a market bottom and a turnaround are near at hand.  Many Gold stocks have been beaten down to ridiculous valuations.  That will change – make no mistake about it.  That one message of hope.  And we have another.

As exciting as it is to see our favorite stock explode to the upside, or as gut-wrenching as it is to see our portfolios shrink during the most recent weakness, we should never let money or our stocks control our happiness or joy.  And true happiness – lasting joy – can only be found in our view by knowing God and serving Him through His son, Jesus Christ, who died on the cross for us on this day over 2,000 years ago.  Of course, on the third day, He rose from the dead in The Greatest Victory Of All.   Easter is not about the bunny rabbit or chocolates or the Easter egg hunt or enjoying a day off work.   It’s about what Jesus did at Calvary – he suffered for us, and for a reason.

Nothing is more important in our view than one’s relationship with God through Jesus.  He is the creator of all things and has also provided us, through His precious Word, all the guidance we need for our daily lives, even how we should approach the handling of money and investment matters.  God has nothing against the accumulation of great wealth – examine the lives of Abraham, Joseph, King David, Solomon and many others.  Money is not the root of all evil but the love of money is a dangerous and potentially devastating trap.

This Easter weekend is a great opportunity for each of us to put some time aside and reflect on what Easter is really all about and why we celebrate it.

We wish all of our readers a very special and joyous Easter.  Below is Terry’s Easter Message.

By Terry Dyer

Have you ever asked someone a question and then also asked, “Do you want the good news first or do you want the bad news first?”

I took my car into the garage one day to have the brakes done.  When the technician called me with the quote he asked me that very question, “Do you want the good news or the bad news?”  He told me that the brakes were only going to cost me $500 but in the next breath he told me that my ball joints needed replacement.  The good news and the bad news.  This Easter we look at both.

Let us look at the bad news first.  We all have sinned and fallen short in the eyes of the Lord (Romans 3:23, New International Version) and since we have sinned we are destined to die “for the wages of sin is death” (Romans 6:23).  We are all sinners and death is our payment for our sin.

When someone offers employment to an employee he offers him a set amount of money to work for him.  Maybe twenty dollars an hour for every hour that employee works.  It is a contract.  It is also a contract when you break the law.  If you are driving your car and you do not stop at a stop sign a police officer will write you a ticket and you will have to pay a set fine.  It’s a penalty for not stopping at the stop sign.  This is true in God’s world as well.  When we sin we are destined for spiritual death.  It is both the wage and the penalty.  Sin is awarded death.

Some may ask what is spiritual death?  Spiritual death is an eternal separation from God.  In the Gospel of Luke, chapter 13, we are told that there will be weeping and gnashing of teeth.  In the book of Revelation we are told that death and Hades were thrown into the lake of fire.  Spiritual death is a bad place to be in and we are told that we are all destined for this.  The apostle Paul writes, “For all have sinned and fall short of the glory of God” (Romans 3:23, NIV).  That is the bad news.  We are all sinners and by the sin that we commit we are destined for Hell.  It doesn’t get any worse.

But wait – there is still the Good News.  Jesus came to the earth fully man and fully God.  When Jesus willingly went to the cross He carried the sin of the world, past, present and future, so that those that believe in Him will be saved from an eternity of death, pain, anguish, and separation from God.  “For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life.  For God did not send his Son into the world to condemn the world, but to save the world through him.  Whoever believes in him is not condemned, but whoever does not believe stands condemned already because they have not believed in the name of God’s one and only Son”(John 3:16-18, NIV).

Jesus paid the price for your sin, for my sin, and for the sin of the world.  All you have to do is accept Him, put your faith in Him and allow Him to be Lord of your life.  Turn away from the world, your old ways, and toward Jesus.  It doesn’t matter what you have done with your life up until now.  There is no sin too big for Jesus.  All one needs to do is say with a heart of repentance, “I am sorry, Jesus, for what I have done.  Today I ask you into my life. Come and make me whole. I turn toward you.”

This Easter I invite you to accept Jesus into your heart or to renew your commitment to Him.    If you have never prayed to Jesus take a moment now and turn your heart to Him.  If you already know Jesus but want him in your life in a greater way, then by all means pray for that too.  Invite Him into your life in a bigger way.

Let us pray:

Lord Jesus, thank you.  Thank you for this day you have provided.  Jesus, thank you that you willingly went to the cross for my sins, past, present and future.  Jesus, thank you that you paid the price for my sin.  I was destined for a life in eternal punishment and you saved me.  Thank you, Lord Jesus, this Easter Sunday we celebrate your day, the day that you rose again, and the day that you defeated death some two thousand years ago.  Thank you that you love me so much.  You are an awesome God.

“Jesus, I know that I have broken your laws and my sins have separated me from you. I am truly sorry, and now I want to turn away from my past sinful life toward you. Please forgive me, and help me avoid sinning again. I believe that you died for my sins, that you were resurrected from the dead, that you are alive today and that you’re hearing my prayer. I invite you, Jesus, to become the Lord of my life, to rule and reign in my heart from this day forward. Please send your Holy Spirit to help me obey You, and to do Your will for the rest of my life. In Your name I pray, Amen.”

From all of us here at BMR I would like to wish you a very Happy Easter.  May your day be full of love and blessings.  I thank you for your support of BMR as we strive to be of service to you.  From my home to your home, Happy Easter.

Terry Dyer

Publisher/Owner, Langley, BC

BullMarketRun.com

He is Risen Indeed…

Gold recovered slightly today but the action in the Gold stocks suggests the yellow metal has not found a bottom yet, though it can’t be far off.  John’s 6-month daily chart shows that RSI(14) is at previous support.  Expect at least one more test of yesterday’s low of $1,616.  The “big picture” outlook remains unquestionably bullish despite the weakness since the end of February that has sent Gold down nearly $200 an ounce.

Gold is stabilizing after two days of sharp sell-offs…as of 6:10 am Pacific, the yellow metal is up $4 an ounce at $1,625…Silver has gained 7 cents to $31.43…Copper is flat at $3.79…Crude Oil is up 9 cents at $101.56 while the U.S. Dollar Index has climbed another one-third of a point to 80.08…

This is the final trading day of the week with Good Friday tomorrow…important U.S. jobs data still comes out tomorrow, however…BMR will be taking a four-day Easter break and we will return with our regular Morning Musings Tuesday though markets in both Canada and the United States are open Monday…

A fall to just below $1,600 an ounce might be enough to scare all the nervous nellies and allow Gold to put in an important bottom…below is John’s latest Gold chart…

Physical Gold demand from India has picked up this week in response to the sell-off in prices, even though a jewelers’ strike continues in the country, stated Edel Tully, precious-metals strategist with UBS…“Our physical sales to the region were the strongest since March 14,” she said…“The return of this demand source, after a few weeks of being largely absent, is positive for Gold…true, a price floor may be some distance away…but the presence of physical buying shouldn’t be under-estimated”…

A strike, in which Indian shops closed to protest higher taxes, has lasted longer than most expected, Tully said…”But the strong buying Wednesday suggests that many think a resolution may be near”.

Yesterday was a public holiday in India and presumably meant less demand…the upcoming Akshaya Tritiya festival on April 24 may be the catalyst that brings the strike to an early end, Tully said…this and the Dhanteras are two of the biggest Gold buying events on the Hindu calendar…”These are essential buying occasions that jewelers won’t want to miss – particularly after the strike-inflicted drop in revenues in March,” Tully stated…

The Venture Exchange is now off nearly 12% to the 1500 support area since its late February high with Gold declining nearly the same amount…the TSX Gold Index, meanwhile, has fallen from a high of 393 February 23 to a low of 311 yesterday, a loss of 21% in just 30 trading sessions…it’s a drop that’s very comparable to the late 2009-early 2010 sell-off in the Index…this is not the time to be running for the exits…there are some incredible opportunities in this market right now and we’ll be highlighting several of them Tuesday…

We’ll have some additional chart updates from John by tonight followed by Terry’s Easter Message…

Below is a chart update on Huldra Silver (HDA, TSX-V) which pulled back to an area of support after climbing as high as $1.63 March 13…HDA, which is focused on its Treasure Mountain Silver Property in the British Columbia interior, closed down a nickel at $1.35 yesterday…

Note: John, Jon and Terry do not hold positions in HDA.

Commodities and stocks went into retreat yesterday after the Federal Reserve curbed expectations of more monetary stimulus (a good excuse, more than anything, for investors to take money off the table) and weakness continues this morning…Gold has fallen another $23 an ounce to $1,623…it has found support on a closing basis in the low $1,640’s recently, so we’ll see if that trend continues and Gold reverses intra-day….if not, what we’re likely looking at is a test of the $1,600 area which still keeps the bullish inverted head and shoulders pattern intact…the same applies with Silver which is off 86 cents to $31.82…Copper has slid 8 cents to $3.83…Crude Oil is down $1.14 to $102.87 while the U.S. Dollar Index has gained nearly half a point to 79.83…

When the crowd is running in one direction, it’s often wise to go the opposite way…pessimism in the junior resource market right now is quite high and we think that’s a bullish contrarian sign…the mood was similar last December and late last summer/early fall…selling into a market like this out of fear is a losing strategy…now, more than ever, is the time to be searching for opportunities in our view – and there are many of them out there…this market could turnaround very quickly…

The TSX Venture Exchange found support at 1537 yesterday, as shown in John’s chart below, and then closed at 1546, a loss of 24 points…if support doesn’t hold at 1537 today, then a test of 1500 would seem logical…the chart shows a recent increase in buying pressure, so some bargain hunters have definitely been stepping up to the plate…

Argex Mining (RGX, TSX-V)

There continue to be bright spots in the market and Argex Mining (RGX, TSX-V) has certainly been one of those…Argex announced a “technical collaboration agreement” yesterday with PPG, the world’s leading coatings and specialty products company, in order to allow the companies to develop a titanium dioxide product that will meet conventional standards for exterior and interior paint applications…PPG will be able to secure an enhanced supply of titanium dioxide from Argex which closed yesterday at 88 cents on very heavy volume (over 5 million shares) after climbing as high as $1…as positive as the outlook may be for Argex, investors should keep in mind that “chasing” this stock in overbought technical conditions at the moment carries some risk…below is an updated RGX chart from John…

Note: John, Jon and Terry do not hold positions in RGX.

Mart Resources (MMT, TSX-V)

For oil and gas enthusiasts, a company that has been doing exceedingly well is Mart Resources (MMT, TSX-V) which bucked the overall trend yesterday and broke out of a 2-month pennant…as always, perform your own due diligence but this is definitely an interesting chart…

Note: John, Jon and Terry do not hold positions in MMT.

Gold fell as low as $1,670 within the last hour but has clawed its way back to $1,676 as of 6:10 am Pacific for a loss of just $1 an ounce for the day…Silver is 7 cents lower at $32.92…Copper is flat at $3.92…Crude Oil is 60 cents lower at $104.63 while the U.S. Dollar Index is up modestly at 78.91…

Traders will be looking later on today (11 am Pacific) a the minutes of the Federal Reserve’s most recent policy meeting for any guidance about what might be next on the table….as of 6:00 am Pacific, U.S. stock index futures are down slightly after yesterday’s multi-year highs…

We’re seeing positive technical signs in both the TSX Venture Exchange and the TSX Gold Index…the Venture, which has been showing strong support at an important Fibonacci retracement level around 1550, closed up 3 points yesterday to 1570…the TSX Gold Index, meanwhile, is emerging from a significant sell-off and has posted gains in each of the past three sessions…it closed yesterday at 340 with the next immediate target being a resistance band as shown in John’s chart below…recent intense selling pressure is abating with bargain hunters stepping in…

Gold Bullion Development (GBB, TSX-V)

Gold Bullion finally released its first NI-43-101 resource estimate for its Granada Gold Property…the stock responded favorably yesterday with a gain of a penny-and-a-half to 18 cents…the turnaround with GBB likely won’t be swift, especially considering the company has to raise more money, but the recent 11-cent low has got to be considered the bottom, so the recovery phase is underway…only 70% of the holes drilled to date by GBB were used in the resource calculation…given the fact also that the Granada deposit remains open in all directions, laterally and at depth, the possibility of a multi-million ounce deposit remains very much intact with a potential strike length of more than 10 kilometres…whether GBB is the best company to advance this project to the next level is questionable…Granada is all about volume and that means a massive amount of drilling, a large exploration budget and the right personnel to make that happen…if a larger company sees the potential of Granada through this 43-101,  then certainly a takeover would be a distinct possibility…

Spanish Mountain Gold (SPA, TSX-V)

Spanish Mountain is developing a low-grade deposit of its own in British Columbia…the company has been more efficient on the ground than Gold Bullion but it’s never easy developing a Gold deposit…SPA has seen its stock price drop in half from late last year for no obvious reason other than general market sentiment…interestingly, support for SPA appears to be holding at the 1,000-day moving average (SMA) which is beginning to flatten out and could reverse to the upside at some point this year…below is an updated chart from John on SPA which, like GBB, remains on our “Watch List”…RSI(14) appears to have bottomed out on this 2.5-eyar weekly chart produced after last Friday’s close…SPA closed yesterday at 47 cents…

Note: John, Jon and Terry do not hold positions in SPA.

Antioquia Gold (AGD, TSX-V)

Yesterday, we pointed out a promising play in GreenLight Resources (GR, TSX-V)…today, we suggest investors perform their due diligence on Antioquia Gold (AGD, TSX-V) which has a promising Gold project (Cisneros) in Colombia, approximately 55 kilometres northeast of Medelin in the general vicinity of AngloGold Ashanti and B2Gold’s Gramalote Project…Cisneros is a multiple deposit scenario, and AGD holds a unique advantage in the fact that it has a strong financial partner in a privately-held company (Desafio) which is Peru’s second-largest underground producer…Desafio holds 35% of AGD and is the exploration arm of another privately-held Peruvian company, Conscorcio Minero Horizonte…these companies bring many years of experience in the exploration, development and operation of underground vein deposits like Cisneros…Antioquia’s share price suffered during last month’s market weakness and AGD fell to an all-time low of 7.5 cents where their appeared to be capitulation…it closed yesterday at 9.5 cents for a market cap of just under $10 million which makes this very interesting based on the exploration potential…two deposits have already been discovered at Cisneros but no NI-43-101 resource estimate has been provided yet…the company is planning on drilling another 20,000 metres this year in an effort to build on known mineralized zones and identify new potential deposits over the 5,600 hectare land package which contains up to 60 artisnal Gold mines…below is John’s technical perspective on AGD in a 3.5-year weekly chart..this is a great bottom-fishing opportunity in our view…

Note: John, Jon and Terry do not hold positions in AGD.

Wildcat Silver (WS, TSX) and Volta Resources (VTR, TSX) Chart Updates

Wildcat Silver

Note: John, Jon and Terry do not hold positions in WS.

Volta Resources

Note:  John, Jon and Terry do not hold positions in VTR.

Gold has traded in a range between $1,662 and $1,672 so far today…as of 6:00 am Pacific, the yellow metal is up $1 an ounce at $1,670…Silver is up 24 cents at $32.52…Copper is 2 pennies higher at $3.85…Crude Oil is off 32 cents to $102.70 while the U.S. Dollar Index is up slightly at 79.02…

The Dow and the S&P 500 logged their best first quarters in 14 years while the Nasdaq, which climbed over 18%, enjoyed its best first quarter performance since 1991…

The CDNX came out of the gate very strong in January and February but struggled in March as Gold dropped significantly…the Venture was up 5.5% in Q1, essentially mirroring Gold’s performance while the TSX Gold Index lagged behind with a loss of over 6% as many producers are battling cost pressures…below is a first quarter comparative chart from John…Silver snapped out out of a three-quarter losing skid with a strong 2012 Q1 performance…

A Busy & Shortened Trading Week

As well as surveys covering global manufacturing and, later, service sector activity, tomorrow sees the release of the U.S. Federal Reserve policy meeting minutes, while Wednesday and Thursday have the European Central Bank and Bank of England rate decisions, respectively…

But possibly the biggest concern for traders is that crucial U.S. non-farm payrolls data will be released on Good Friday, when most markets will be closed for Easter…liquidity is not being helped, either, by Shanghai being closed for a holiday until Thursday…

China – More Monetary Easing Likely

A stronger reading for a Chinese manufacturing gauge failed to end predictions for policy loosening as analysts described the gain as seasonal and a separate survey showed exporters struggling…a Purchasing Managers’ Index rose to a one-year high of 53.1 in March, China’s logistics federation and the National Bureau of Statistics said yesterday…however, the gauge has a pattern of rising each March…in contrast, a PMI from HSBC and Markit Economics showed manufacturing contracting and export orders falling…the latter report has a greater proportion of smaller companies, but the divergence between it and the official figures raised some eyebrows…China will continue efforts to boost growth as the year progresses, and that’s certainly positive for commodities…

U.S. Dollar Technical Update

The U.S. Dollar Index has been showing some signs of weakness recently…right now it’s at support, but a further drop could be one of the catalysts that sends Gold higher as the second quarter begins…

Greenlight Resources (GR, TSX-V)

We suggest investors do their due diligence on a company called GreenLight Resources (GR, TSX-V) which we’re adding to our Group “A” Watch List…GreenLight is following the “project generator” model and has a plethora of interesting properties in Atlantic Canada, covering everything from Silver and Gold to base metals, rare metals and graphite…its recently acquired Christmas Island Property is a nearly 6,000-acre land package that features multiple near-surface target areas for Gold, copper and graphite…the company has about 33 million shares outstanding for a total market cap of $4 million after Friday’s close of 12 cents…

Below is John’s technical perspective on GreenLight…

Note: John, Jon and Terry do not hold positions in GR…

Rainbow Resources (RBW, TSX-V)

John has another revealing chart regarding Rainbow Resources (RBW, TSX-V) which fell Thursday and Friday but on low volume…investors may still be digesting the deluge of news Thursday which confirmed the deposit potential of the International Property for Silver, lead, zinc and now even Gold, to go along with seven other properties including the past producing Ottawa Property that churned out incredible grades of 60 opt Silver (2,100 g/t) in the 1900’s…what may have been overlooked Thursday is the fact Rainbow has some juicy targets to pursue at the Jewel Ridge Property in Nevada, another former producer (historical open-pits) with an impressive near-surface drill result (2.1 g/t Au over 39.6 metres) that President David Johnston said, at Thursday’s presentation, the company will be following up on as quickly as possible…a repeat of that kind of a drill result could send RBW flying in a hurry…below is another RBW chart from John that shows some very interesting technical patterns in the stock…

Note: John and Jon both hold positions in RBW (Terry does not).

TSX Venture Exchange and Gold

The Venture Exchange snapped a four-week losing skid with a modest 10-point jump to close the first quarter of 2012 up 5.5% to 1566 (Gold was up 6% while the TSX Gold Index was down 6.7%).  Traditionally, a positive first quarter has almost always been a bullish sign for the Venture Exchange.  In fact, the market has posted yearly gains in 8 occasions out of 9 since 2001 when the first quarter has been positive.  Yes, March was a disappointment with a 106-point loss (6.3%) but a turnaround is certainly in the works based on historical patterns. Below is an updated CDNX chart from John (3-month weekly chart) that shows a normal Fibonacci retracement from the gains since December.  The market is now at its 10-day moving average (SMA) which has provided resistance almost the entire month – immediately closing above that level as April begins would help generate some fresh momentum.

Gold

Gold appears to be in the process of developing a very bullish inverted head and shoulders pattern.  For the week, the yellow metal posted a gain of $6 an ounce to $1,699.  Fibonacci support at $1,643 was tested on numerous occasions in March and held (see what could be the right shoulder of the H&S pattern

The latest COT structure for Gold is bullish – commercial short and large spec long positions are at a relatively low level again – similar to the levels that prevailed before the strong rally in Gold and Silver that occurred in January and February.

Silver was down 28 cents for the week and closed at $32.28.  Copper gained 3 pennies to $3.84.  Crude Oil sold off to $103.02 while the U.S. Dollar Index fell one-third of a point to 78.95.

The “Big Picture” View Of Gold

As Frank Holmes so effectively illustrates at www.usfunds.com, Gold is being driven by both the Fear Trade and the Love Trade.  The transfer of wealth from west to east, and the accumulation of wealth particularly in China and India, is having a huge impact on Gold.

The fundamental case for Gold remains incredibly strong – currency instability and an overall lack of confidence in fiat currencies, governments and world leaders in general, an environment of historically low interest rates and negative real interest rates that won’t end anytime soon (inflation is greater than the nominal interest rate even in parts of the world where rates are increasing), money supply growth, massive government debt from the United States to Europe, central bank buying, flat mine supply, physical demand, investment demand, emerging market growth, geopolitical unrest and conflicts, and inflation concerns…the list goes on.  It’s hard to imagine Gold not performing well in this environment.  The Middle East is being turned on its head and that could ultimately have major positive consequences for Gold.

Welcome to our site, or at least the initial version of it!  BMR has been online for more than two years and strictly through word-of-mouth we have built a loyal following. 

We’re continuing with our plans to ultimately build a very unique investment and money-management resource site that goes considerably beyond what we have now.  While we focus very much on the Gold and Silver markets and trends in the global economy, and of course the technical health of the TSX Venture Exchange (CDNX), an important component of this site will always be original research on undiscovered junior exploration companies or small producers, mostly in the Gold and Silver exploration space, that offer very real and significant upside potential. We are extremely selective in the companies we feature and put forward to investors – we prefer quality over quantity.  However, investors must understand that these are still highly speculative situations and entail considerable risk, volatility and unpredictability.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. Always perform your own due diligence and please read our disclaimer at the bottom.

We use a combination of fundamental and technical factors in determining the value and potential of a stock.  In terms of fundamentals we look for a company with a superb project supported by strong management.  Management must possess integrity, solid ethics and a determination to succeed and build shareholder value.

At BullMarketRun (BMR) we approach the handling of money from a biblical perspective and this is an important topic we will be sharing with our readers (and listeners) as the site continues to develop. The Bible teaches so much about money and how to handle it and invest it –  there are literally thousands of verses on how we should handle the money and possessions that God entrusts us with.  By examining the life of Jesus and reading the Word of God, we can all become fully equipped to be successful investors and handle money wisely.  If it’s the other way around –  if you’re a slave to money by being in debt for instance, or if you don’t respect the value of money and spend it foolishly –  you’re in trouble and you’ll never be blessed financially.  We have a God who thinks big – He created the universe – and He wants us to think big  in every area of our lives.  When we handle money from a Biblical perpective (His money that we have been given stewardship of) He will bless our financial decisions and an increase of tenfold or a hundredfold is always possible.  This all begins, of course, with a personal relationship with Jesus Christ by accepting Him as your Lord and Savior and putting Him at the throne of your life.  It is the most important decision you’ll ever make.

God Bless,

Terry Dyer

Owner/Publisher, www.BullMarketRun.com

Disclaimer:

BullMarketRun.com (BMR) is completely independent from any companies it covers.  BMR accepts no compensation of any kind from any groups, individuals or corporations for coverage of any company mentioned on this site.  We accept no advertising either.  Our stock coverage is for informational and entertainment purposes only and must not be viewed or interpreted as “buy”, “sell” or “hold” recommendations. No investment opinion or other advice is being rendered on any stock or company. We strongly recommend that you consult with a qualified investment adviser, one licensed by appropriate regulatory agencies in your legal jurisdiction, and do your own due diligence and research before making any investment decisions. The stocks we cover, by definition, are highly speculative and potentially very volatile. Investors are cautioned that they may lose all or a portion of their investment if they make a purchase or short sale in these speculative stocks.  We are not Registered Securities Advisers. Our opinions can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Adviser operating in accordance with the appropriate regulations in your area of jurisdiction. It should be assumed that BMR personnel, writers and their associates may hold or dispose of or trade in positions in any securities mentioned herein at any time.  Owner/Publisher of BullMarketRun.com is Terry Dyer of Langley, British Columbia.

Forward Looking Statements:

All statements in BMR’s reports, other than statements of historical fact, may be forward-looking statements. These statements relate to future events or future performance. Forward-looking statements are often but not always identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.