We’ve been very carefully watching the action in Gold Bullion Development (GBB, TSX-V) recently and we can’t help but conclude this stock wants to go higher. The clues are all there – Jordan’s heavy buying, the resiliency of GBB during the market pullback, and the 20,000 metre drill program that is now well underway. With Gold continuing to power higher, and the clear possibility of a 5 million+ ounce deposit at Granada, there is only one direction for Gold Bullion to go and that is up.
Following this story so closely as we have for over half a year now, we’ve been fortunate to develop a really good “feel” for this stock. Not only do we have a strong grasp of the fundamentals driving Gold Bullion, but our “intuition” with this stock has proven to be very accurate and helpful. For what it’s worth, our intuition right now is that GBB is poised to finally bust through resistance in the low 40’s.
We’ll have more on Gold Bullion over the weekend.
