Sidon International Resources (SD, TSX-V) is up 270% since we introduced it to our readers at a nickel last spring. Sidon has matured considerably as a junior exploration company over the last six months and is currently drilling its Morogoro East Gold Property in east central Tanzania. Sidon is also enjoying some early success as it tries to develop a placer resource (and a revenue stream) at Morogoro East, and the company recently secured a 5,000 hectare land package near Canaco’s (CAN, TSX-V) Magambazi discovery. This has been a year of major accomplishments for Sidon. The stock has a lot of liquidity which investors like. Given how this company keeps moving forward, we have every reason to believe that 2011 could be a real “breakout” year for Sidon. John provides a brief technical analysis in the chart below.
