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May 17, 2010

BMR Morning Market Musings…

Gold is holding steady and is trading up $2 an ounce to $1,233 as of 7:35 am Pacific time…the CDNX is off 9 points to 1584…Richfield Ventures (RVC, TSX-V) is in the $1.50’s this morning – a very attractive buying zone – where it makes sense to accumulate…Richfield is developing the Blackwater Project in central British Columbia that could host a multi-million ounce bulk tonnage gold deposit…the company is in the midst of a 25,000 metre drill program at Blackwater where mineralization starts near the surface…Gold Bullion Development (GBB, TSX-V) is relatively quiet and unchanged at 38 cents…Sidon International (SD, TSX-V) has apparently closed its recently announced private placement, putting it one step closer to acquiring the highly prospective Morogoro East Gold Property in Tanzania…Sidon, Gold Bullion and Seafield are the only stocks at BMR we’ve introduced under a dime and of course GBB and SFF both exploded…Morogoro gives Sidon smiliar potential…Sidon is at 6.5 cents this morning, down half a penny…the stock has been under very heavy accumulation over the past couple of months…we’re expecting news this week from Kent Exploration regarding its spin-off…assay results are also imminent from its Turnberry Prospect which was drilled earlier this spring…Turnberry is part of the large Gnaweeda Gold Project which is being vended into Archean Star ResourcesKent closed at 19 cents Friday and has been fairly quiet over the last week or so…North Arrow Minerals (NAR, TSX) is up a penny to 21 cents…NAR is strongly supported by a rising 100-day moving average at 19 cents…the company is currently drilling its Beaverdam Lithium Project in North Carolina which holds excellent potential, but its 100,000 acre position at Lac de Gras is what really gives the company its huge blue sky appeal…diamond legends Gren Thomas and Dr. Chris Jennings are teaming up once again to see if they can repeat their Diavik success through North Arrow…Jennings has identified 70 high priority kimberlite targets on North Arrow’s landholdings and a major drill program will commence this summer…Seafield Resources (SFF, TSX-V) is unchanged at 20.5 cents…Seafield ended a deep correction last week and some consolidation at current levels can be expected before it pushes higher…we expect Seafield to commence drilling in Colombia later this month…

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