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February 16, 2010

BMR Morning Market Musings…

Markets are strong this morning with the CDNX breaking through the 1,500 level, a very bullish development…as of 7:35 am Pacific time, the CDNX is ahead 20 points to 1,519 while gold is up $16 an ounce to $1,115…gold will really start to fly once it breaks through resistance at $1,120…once the Venture Exchange breaks through its 52-week high of 1,629, which certainly could happen by the end of this month, we expect a near-vertical move to our target zone of 1,950-2,350…some of our favorite stocks are quite strong this morning…Kent Exploration (KEX, TSX-V) is up 3 cents to 18 cents…Colombian Mines Corporation (CMJ, TSX-V) has shot up 10 cents to $1.07 and was as high as $1.15 in early trading…Richfield Ventures (RVC, TSX-V) looks poised for a breakout and this one could go crazy over the next few months as Richfield proves up a multi-million ounce bulk tonnage deposit with 25,000 more metres of drilling at Blackwater…we have a $5 per share target for Richfield which appears to be another Canplats in the making…

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