Gold is seeing some profit-taking today with the yellow metal down $6 an ounce as of 8:15 am Pacific to $1,227…Gold has traded within a range of $1,221 to $1,234 so far today…the U.S. Dollar is up sharply this morning which has contributed to some of Gold’s weakness but the two have shown they can move in tandem…the CDNX is down 3 points to 1,470, in sympathy with losses in the broader markets and in Gold and Oil…Gold Bullion Development (GBB, TSX-V) is unchanged at 51 cents…it’s interesting to note that Jordan Capital, a key player to track in GBB, bought 196,500 of the first 211,200 shares that traded in the first hour this morning…they were on the buy side in 10 of the first 18 trades, a very positive sign…on the Gold Bullion chart, which BMR’s technical analyst updated last night, the second symmetrical triangle that has formed right now is very similar to the pattern we saw in January and February prior to the March breakout…Sidon International (SD, TSX-V) is down another penny this morning to 12 cents on nearly 2 million shares…Sidon’s Morogoro East Property in Tanzania has tremendous potential – it’s certainly a hot area right now with Canaco (CAN, TSX-V) delivering such great results from Handeni – but the “news release” Sidon disseminated after the close Wednesday (which hasn’t yet been carried on Stockwatch) disappointed us…there was certainly some good news to report, which is encouraging, but we’re not sure Sidon put that news across in the most effective way…perhaps a few others picked up on that, too, as Sidon retreated from an early high of 15.5 cents yesterday on heavy volume…Excel Gold Mining (EGM, TSX-V) is up half a penny to 15.5 cents…Excel has strong technical support at 15 cents and we’re looking forward to an upcoming visit to the company’s Montauban Mining Camp Project, 120 kilometres west of Quebec City…
August 20, 2010
5 Comments
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Press "Reload" for fresh quote
Ditto on the NR…very amateurish. They will be doing a PP soon I suppose and they need to make a good impression. My suggestion is to hire or contract out for a PR person. We need factual information not storytelling. It reminded me of the VSE days. You have my permission to quote this email to Kamal Alawas if you wish.
Wayne
Comment by Wayne — August 20, 2010 @ 9:12 am
I do agree with you on the Sidon release,…. but, I do like that they have given us some insight into the fact that they have people there and that they are readying samples for evaluation. The news of another find of visible gold and the interest it has sparked,….. is it not good to know as an investor that they have people on sight and that they will be further investigating this new possible lode to add to what investers are already banking on?
Keep up the good work!! Mike
Comment by mike — August 20, 2010 @ 10:51 am
What happened to Seafield these days? Still have to wait for a few weeks getting the drill results? zzZZZZZ
Comment by Theodore — August 20, 2010 @ 4:20 pm
I, too, originally wanted to invest a little bit in Seafield to see how it does. However as everyone plainly sees, there’s just so little activity with this stock. I cannot decide whether that is a good thing or not. On the bright side it may mean current shareholders are all just holding their breath with anticipation of good things. On the darker side it may simply mean that there is no interest in the stock.
Comment by Muiz — August 21, 2010 @ 2:25 am
Are u still going at Granada?
Comment by Marc — August 24, 2010 @ 5:05 am