Gold got as high as $1,353 this morning before pulling back…as of 7:30 am Pacific, the yellow metal is up $3 an ounce to $1,347 after a strong upside move yesterday…Silver is ahead 24 cents to $24.27 while the U.S. Dollar Index is now unchanged at 77.21, well off its high of the day…U.S. economic growth edged up as expected in Q-3 (GDP growth of 2%) but not enough to reduce unemployment or change perceptions of more monetary easing from the Federal Reserve next week…the American economic recovery is still very fragile…the CDNX is up another 9 points to 1935 as it continues to close in on the psychologically and technically important 2000 mark…Gold Bullion Development (GBB, TSX-V) has announced this morning that it has closed its $8 million financing…the stock has turned around technically and is currently up 3 cents to 63 cents…after a relatively quiet October due in large part to the financing, chances are November will be much more exciting for GBB with more drill results expected and a general ramping up of exploration efforts now that the company is armed with over $10 million in its treasury…Adventure Gold (AGE, TSX-V), GBB’s new neighbor at Granada, has been added to the BMR Portfolio and has hit a new all-time high of 41 cents this morning…more on AGE over the weekend…we encourage readers to take 20 minutes to listen to our interview with Currie Rose Resources’ (CUI, TSX-V) President and CEO Harold Smith…this is a situation we’re extremely bullish about as CUI is sitting on ground in northwest Tanzania that is much more prospective than we originally thought…we will summarize the interview and our new thoughts in a special BMR Alert this weekend…the current drill program at Currie Rose’s Sisu River Property holds excellent potential for a discovery (the first 2 holes are already complete, reaching their intended depths) and the company’s Sekenke Project is undervalued and the “sleeper” in CUI’s large overall Tanzanian land package…BMR has added Currie Rose to its Portfolio at 16 cents…Greencastle Resources (VGN, TSX-V), which has decided to become aggressive in the Gold exploration space for the first time in several years, is showing good strength again today…the stock blasted through resistance at 16 cents yesterday on its best volume day of the year, and it gapped up this morning…VGN’s 200-day moving average is now very close to reversing to the upside…Greencastle is currently up a penny at 18 cents with nearly half a million shares trading in the first hour…GoldQuest Mining (GQC, TSX-V) appears to have bottomed out in the low 20’s after pulling back from a new 52-week high of 32.5 cents earlier this month…BMR’s Technical Analyst is preparing an updated chart for GQC which holds some outstanding Gold properties in the Dominican Republic…an aggressive new exploration program for GQC in the DR is currently being planned…GQC is up half a cent to 22.5 cents after the first hour of trading…
October 29, 2010
11 Comments
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Where is the interview with Tony about SFF?
Thanks
Comment by Hugh — October 29, 2010 @ 7:12 am
Seafield interview is in production and should be uploaded to the site by this evening.
Comment by Jon - BMR — October 29, 2010 @ 8:51 am
Hi BMR, will there be another interview with GBB by u in the near feature?
Comment by Forb — October 29, 2010 @ 9:57 am
Yes, Frank has agreed to an interview in the very near future.
Comment by Jon - BMR — October 29, 2010 @ 10:22 am
Thanks…..
Comment by Forb — October 29, 2010 @ 10:25 am
not impressed with GBB way. Nice video, news alert on clsing, yet nothing whats inside the cake. Just icing. No assay results? In 4 mths up 10% , whereas AGE whom purchased a small parcel of land adjacent to GBB 1 mth ago, up near 60% ?? Duh? Can anyone make some sense of this to me.
Comment by nikolay — October 29, 2010 @ 11:30 am
So what u are trying to say is that, GBB ia an undervalued stock?
Comment by Forb — October 29, 2010 @ 12:33 pm
well i’ll agree on that, however I think it’s no fault of its own, GBB needs to step up on its assay reporting, I’m sure since the last report, (9/9/10), they must have had some results back, and Basa commented , again long ago, that they’d hired another lab to expedite results quicker, with none forthcoming any sooner?
So if more cake than icing was served, investors would eat up this stock and it wouldn’t be undervalued.
Keep up the EXCELLENT work guys, it certainly keeps us investors well informed on all the Jr. Miners.
Comment by Nikolay — October 29, 2010 @ 1:06 pm
That is excatly how I feel about it, its time to move this stock to where it should be.
Comment by Forb — October 29, 2010 @ 1:12 pm
Although patience is important here (as BMR has pointed out numerous times), I do find some sense in what Nikolay said. Those assay results truly have taken their time and there seems to be no rush on GBB’s part to keep their investors excited. For the record, I am still being very patient with the stock, as I understand that everyone is looking to GBB like it is going to be the second coming of Osisko, who in turn took several years to get to where they are.
Actually, now that I think about it, would BMR be interested in doing a comparison between the charts of GBB and when OSK first started out? It may illustrate to us where our current position is within the long run, and what we have to hope for ahead of us.
One last thing that I’d like to mention is my discovery that GBB does like to kind of pick and choose when to release their news. Take today’s closing of the private placement, for example. As BMR had reported, there had been a rumour that PP had closed ever since the beginning of the week. Now, I believe that the rumour was true. Yet, GBB only announced this news today, which, if you look at their chart (@stockcharts.com) shows that their price has JUST begun on another hike up, along with the RSI and MACD indicators.
In the end, I guess my point is not to think of GBB as if they will release their news whenever the sun rises. They DO pick and choose their time when it’s the most beneficial. I believe that it is the same with the assay results
Comment by Muiz — October 29, 2010 @ 6:35 pm
OSK vs GBB:
OSK at the end of October 2005:
Date Open High Low Close
10/28/2005 0.710 0.730 0.670 0.730
OSK at the end of March 2006:
Date Open High Low Close
03/29/2006 3.510 3.510 3.300 3.400
Gold Price :29/03/2006: $565.00 per Ounce.
Comment by Forb — October 30, 2010 @ 6:06 am