From Rouyn-Noranda, Quebec, 6:40 am eastern
Gold has traded within a range of $1,234 to $1,238 so far today…as of 6:40 am eastern, the yellow metal is up $1 at $1,237…Silver, which this week has broken out of the triangle it has been stuck in since May, is up 7 cents at $19…Silver’s out-performance vs. Gold recently is certainly an encouraging sign…as an industrial metal, in addition to a precious metal, a strong Silver market is a valuable leading indicator…many eyes will be on Fed Chairman Ben Bernanke today as he speaks on the U.S. economy and Fed policy at a morning address in Jackson Hole, Wyoming…revisions to U.S. second quarter GDP also come out at 8:30 eastern time…the CDNX, which is in a powerful new uptrend that bodes very well for September, out-performed the major markets again yesterday, inching up 6 more points to 1469…as we’ve stated here repeatedly recently, the CDNX has been giving consistent indications since last month that it could explode to the upside in the coming weeks…we’re embracing any pullbacks in anticipation of a convincing move through 1500 very soon…today is our last day in Rouyn-Noranda and we are capping it off with another visit to the Granada Gold Property this morning, something we were not expecting, as we’ll be interviewing Gold Bullion Development (GBB, TSX-V) President and CEO Frank Basa…Basa had promised an interview with us a while ago but we weren’t sure if that would be over the phone or in person or even exactly when it would be…for reasons he would not confirm – it certainly wasn’t just to accomodate us – Basa rushed from Montreal to the Granada Property yesterday…he then committed to an interview with us this morning at the Property…we expect to have the interview ready to be uploaded to our site by late this afternoon eastern time…while we are leaving Rouyn-Noranda later today, we have more to report over the weekend on Gold Bullion from our visit…Richfield Ventures (RVC, TSX-V), which we first introduced to BMR readers at $1.20 last December, had another powerful day yesterday as it jumped 21 cents to $1.95 on CDNX volume of nearly 600,000 shares…that was just the 7th time in its short history (since 2007) that Richfield has traded more than half a million shares in a single day…we expect a strong final 4 months of the year for Richfield as drilling intensifies and a steadier stream of results starts flowing in from the company’s highly prospective Blackwater Project in central British Columbia…Richfield stated recently it expects to release assays on five more holes sometime next week…Blackwater holds multi-million potential (also has silver and copper values) with Richfield having reported some outstanding intersections over the last year…they’re in the midst of a 25,000 metre drill program with operations set up to run year-round, even through a potentially cold and snowy winter…Sidon International (SD, TSX-V) came out with news yesterday from its Morogoro East Gold Property in Tanzania and also announced a small ($1.2 million) proposed private placement at 10 cents where the stock has very strong technical support…Sidon is gearing up to drill Morogoro (many local miners have descended on the area, digging for Gold and finding it) which is situated about 100 kilometres south of Canaco’s (CAN, TSX-V) Handeni Project…
