Gold jumped as high as $1,130 overnight but has pulled back this morning and as of 8:25 a.m. Pacific time is down $6 on the day to $1,111…in our weekend report we identified $1,130 as a key technical area for gold to break through…we believe it’s only a matter of time – likely within a week or so – before that happens…the CDNX is unchanged at 1,534…the overall markets are weakening a little bit as we write this…as we stated in our Sunday report, any pullback early this week should be embraced as a buying opportunity…technical patterns suggest a strong finish to the month and a robust March…Gold Bullion Development (GBB, TSX-V) is showing continued strength this morning with firm bids and its bullish chart suggests the news from Granada is only going to get better…the potential for a major discovery at Granada is very real…at BullMarketRun.com, we are tremendously excited and encouraged by the geology of this property which was a former producer in the 1930’s…Gold Bullion President/CEO Frank Basa has a keen understanding of the structural controls at Granada and how this could develop into a very significant bulk tonnage, open-pit deposit or series of deposits…these are early days, of course, but this story could really start to take off in a hurry if upcoming assay results (19 holes are pending) clearly demonstrate the potential we’ve been speculating about…another bulk tonnage situation we’re very excited about is Richfield Ventures (RVC, TSX-V) which is holding steady this morning at $1.54, up a penny…we’ll be reporting more on Richfield in the week ahead…we suggest investors do some due diligence on Happy Creek Minerals Ltd. (HPY, TSX-V) which is currently trading at 30 cents…
February 22, 2010
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