Gold traded as high as $1,255 this morning but has retreated on better than expected U.S. jobs data…as of 7:50 am Pacific, the yellow metal is off $10 an ounce to $1,241 after hitting a low of $1,237…the TSX Gold Index is down almost 2% but the CDNX has shrugged off the drop in Gold which is a very positive sign that further illustrates just how strong this market is right now (this action also tells us new highs in Gold are likely on the way)…the CDNX is up 16 more points to 1547 and is now within the resistance band between 1546 and 1550 that John identified in his chart analysis this morning…if the CDNX manages to quickly and decisively bust through this resistance, John says the next near-term targets are 1575 and 1625…Gold Bullion Development (GBB, TSX-V) is unchanged at 68 cents…not surprisingly, the stock found some resistance this morning near the June all-time high of 71 cents but the bulls appear to be firmly in control of GBB at the moment…an exploration update with additional drill results are expected from Gold Bullion sometime next week…we got an email an hour ago from our technical analyst (John) that the GBB chart is on the front page of the latest Resource World Magazine…Richfield Ventures (RVC, TSX-V) has announced it has arranged a non-brokered private placement financing of nearly $15 million at $1.95 a share…this comes a day after the company released some more outstanding results from its Blackwater Project in central British Columbia…we see this as a positive move as Richfield will now have almost $20 million in the bank to aggressively develop Blackwater as a potential world class gold deposit…our thinking is that this could be the last financing Richfield will need to do prior to a potential takeover…Peter Bernier’s strategy, we think, is to move Blackwater along far enough to interest a major to step in…RVC is another exciting play that we introduced to our readers last December when it was trading at $1.20…Richfield is currently off 9 cents to $1.99…Sidon International (SD, TSX-V) is up 1.5 cents to 13.5 cents…with Canaco’s (CAN, TSX-V) recent success, interest in Tanzania is very high at the moment so Sidon has an incredible opportunity on its hands with its Morogoro East Property which is approximately 60 miles south of Canaco’s Handeni Project…we’re not ready to give up on North Arrow Minerals (NAR, TSX-V) just yet…a decision on NAR’s Lac de Gras drill permit is expected next week and we believe there’s a possibility NAR may seize the moment and do something with its recently acquired claims 70 kilometres east of Atac Resources’ (ATC, TSX-V) red-hot Rau gold discovery in the central Yukon…North Arrow is unchanged at 15 cents this morning…
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