Gold’s intra-day reversal yesterday is being followed up this morning with more gains…Gold is up $8 an ounce as of 7:10 am Pacific time to $1,184…after a three-day slide, the CDNX is rebounding this morning and is back above 1600 at 1602, a 5-point gain…Gold Bullion Development (GBB, TSX-V) showed a “hammer” reversal yesterday and is showing strength again this morning…it’s currently up half a penny to 37 cents…yesterday’s action looked very similar to what we saw April 8 which was followed by an immediate major upside move…we expect new drilling at the LONG Bars Zone to begin soon, based on Gold Bullion’s April 22 news release…Richfield Ventures (RVC, TSX-V) came out with news this morning, delivering some quick assay results on the deepening of Discovery Hole BW-59…they extended that hole a further 36 metres for a total intersection of 361 metres grading 1.03 g/t Au…a 25,000 metre drill program continues at Blackwater…Richfield is currently at $1.70, a 24-cent drop on the day but above the low of $1.57 where the stock has very strong support…Blackwater has an excellent chance of developing into a world class bulk tonnage, open-pit deposit, so we view any weakness in Richfield as an attractive buying opportunity…Kent Exploration (KEX, TSX-V) and Sidon International (SD, TSX-V) are both quiet so far this morning…we expect more news soon from Kent regarding its spinoff…Seafield Resources (SFF, TSX-V) continues to show weakness, trading at 17 cents, but the stock has become very oversold on the charts…in situations like this, a “capitulation” day at some point occurs which marks a reversal…that’s something we are looking for with Seafield…
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