Curious trading activity in Gold Bullion Development (GBB, TSX-V) late in today’s session suggested to us the company had closed its private placement – we’ve seen this kind of thing before – and sure enough, not only did GBB release news this afternoon confirming the closing of its financing but TSX Venture Exchange approval was received as well. This, in effect, “lifts the reigns” on GBB’s stock price – experienced investors know what this means.
In another interesting development, Gold Bullion announced the hiring of a respected American IR firm based in San Diego. Expect dramatic increased exposure for GBB south of the border.
All factors considered – closing and approval of the PP, a “cleansing” of GBB’s recent overbought condition, pending assay results and release of a preliminary block model resource for the LONG Bars Zone, and a new audience for GBB in the United States – Gold Bullion is ready and primed in our view for an immediate and major new upleg that could quite possibly take this stock to fresh all-time highs in the current bullish gold environment.
GBB is ready to jump over $0.30 …. believe it or not. Investors are having a huge buy between 23 – 25 cents. Those sold at 24 cents will jump back to buy on Friday ….
Comment by Theodore — April 8, 2010 @ 3:29 pm