Gold is off its high of the day…it’s now up just $2 an ounce to $1,181 as of 7:55 am Pacific time…the CDNX jumped as high as 1687 this morning but has also pulled back and rather sharply…the Venture is now down 3 points to 1671…a move through 1700 is important for the CDNX this month from a technical standpoint…it would also give a very bullish signal as far as gold and commodities are concerned…BMR is putting its money where its mouth is…we were a buyer this morning of North Arrow Minerals (NAR, TSX-V) as we continue to accumulate a position in a company led by mining legend Gren Thomas…North Arrow is currently drilling its highly prospective Beaverdam Lithium Property in North Carolina which holds excellent potential as a possible producer in an area where all the infrastructure is in place for a lithium mine…that alone is enough to propel North Arrow to significantly higher levels, but its diamond properties at Lac de Gras (100,000 acres in total) are incredibly interesting and could ultimately send this stock much, much higher…North Arrow President/CEO Gren Thomas has been working closely again with another industry icon, Dr. Chris Jennings – the two of them discovered the Diavik deposit at Lac de Gras and the richest kimberlite pipe in the world in the early 1990’s…using his proprietary technology, Jennings has identified a large number of high priority kimberlite targets over North Arrow’s holdings which the company is going to aggressively pursue in a major drill program…after reviewing maps and spending considerable time with Thomas last week, we believe North Arrow has an excellent chance of making a major new discovery at Lac de Gras…the diamond market is heating up as Chinese buying is eating significantly into supply…North Arrow is off a penny this morning to 23.5 cents…this is clearly an undervalued situation relative to its enormous potential and a major home run opportunity for investors at current levels…Gold Bullion Development (GBB, TSX-V) is up a penny to 41 cents…the company has strengthened its board with news this morning of the appointment of Brian E. Robertson to its board of directors…Robertson brings more than 35 years of extensive operations experience in both large scale open-pit and underground mines in Canada and offshore…Sidon International Resources (SD, TSX-V) is ahead another half penny to 8.5 cents on over a million shares in the first hour of trading…we’ll have more on Sidon very soon as this is another company we’re very excited about right now…the mystery of Seafield Resources (SFF, TSX-V) continues…Seafield has dropped below its 200-day moving average, trading at 17.5 cents, and is now in technical trouble with the looming possibility of a soon-to-be declining 100-day moving average…we see no explanation for the current weakness in Seafield other than perhaps a reduced level of investor interest in exploration plays in Colombia after new environmental legislation pertaining to mining was introduced there just recently…the new regulations, however, only apply to operations above 3,200 metres which excludes Seafield’s properties…
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