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The BMR Portfolio

Gold Bullion Development (GBB, TSX-V)

Gold Bullion continues to ride its 100-day moving average and was off a penny for the week at 57 cents on relatively low volume (3 million CDNX shares) as it completes its $8 million financing…word on the street is that the closing of the financing is imminent, within a matter of days…after exhaustive research and 3 visits to the Granada Property over the last 8 months, our faith in this project is absolutely unshakeable and there is not a better time in our view to be a Gold Bullion shareholder…armed with a $10 million+ bank account upon the closing of the financing, and supported by the geological expertise of GENIVAR as well as a rising Gold market, we fully expect Gold Bullion to finish 2010 in very strong fashion…the visuals reported last month give us a high degree of confidence that the next sets of assays, when they come, will be positive with excellent potential for some breakthrough results from the Eastern Extension…mineralization has been encountered over a very wide area at Granada so far and our understanding of the geology of this property is that it is truly a major structure…this deposit will be all about volume, all about tonnage, so all Gold Bullion needs to do is drill, drill, and drill some more which is Frank Basa’s strategy…the consolidation pattern we’ve seen over the last several weeks is typically indicative of a stock that is about to break to the upside…this is supported by the fundamentals which, based on the latest news, confirm more than ever the blue sky potential of Granada….GBB is up 714% since we first uncovered it for BMR readers last December…

GoldQuest Mining (GQC, TSX-V)

GoldQuest has corrected significantly from its recent 32.5 cent high but the stock is still up 18% since we introduced it to BMR readers in late September…the stock closed Friday at 23 cents, down 2.5 cents for the week…earlier this month GoldQuest exploded just beyond the 30 cent level after breaking out of a 2-year base…this is a classic pullback from a technical perspective and presents a major opportunity, especially with the bullish outlook for the CDNX over the next several months at least…GoldQuest has a tremendous portfolio of properties in the Dominican Republic including advanced staged projects (Gold, silver and base metals) such as Las Tres Palmas and Las Animas…in northwest Spain, GoldQuest holds the Toral zinc-lead-silver deposit along with a second polymetallic project (Lago) under application with many similarities to Toral…Toral covers a 6 km strike length of the prospective Lower Cambrian Vegadeo Limestone Formation…this geological structure is regionally mineralized along more than 40 km of its extent and includes the Rubiales zinc-lead-silver deposit located 30 km northwest of Toral…Rubiales reportedly contained an estimated 18.6 million tonne mineral resource grading 7.3 % Zn, 1.3 % Pb and 13 g/t Ag and was mined by Cominco from 1976 to 1991…sulphide mineralization at Toral closely resembles the coarse-grained sphalerite and galena mineralization at Rubiales but Toral contains significantly more silver…a 43-101 resource estimate for Toral is currently being prepared (historical non-compliant resources were reported as 5.4 million tonnes grading 9% zinc, 6% lead and 45 g/t Ag)…

Richfield Ventures (RVC, TSX-V)

Gradually and methodically, Richfield continues to develop its Blackwater Project in central British Columbia as a potential multi-million ounce Gold deposit with some silver and copper mixed in as well…Richfield came out with more positive results last week which were in line with market expectations…BW-81 was the best intersection out of 6 new holes reported…it extended the zone southeastward, returning 171 metres grading 1.04 g/t Au and 8.5 g/t Ag…Richfield is operating with 2 rigs in a fully winterized camp…the company is armed with $16 million in cash and will continue to drill over the next several months…the stock closed the week at $2.69 for a loss of 11 cents…the rising 50-day moving average at $2.40 provides rock-solid technical support…Richfield has jumped 124% since we added it to the BMR Portfolio last December…

Sidon International Resources (SD, TSX-V)

Sidon’s weakness since early August in the face of a very powerful CDNX move has been frustrating for shareholders, some of whom abandoned ship and moved on to other plays…the stock probably got a little ahead of itself last summer when it more than tripled in value in a month’s time…the bottom line, however, is that Sidon continues to have all the blue sky potential we wrote about when we first uncovered this fledgling company last March at a nickel…the fact so many artesinal miners (1500 at one point) would descend upon part of Sidon’s Morogoro East Property in Tanzania clearly illustrates the Gold potential that exists there…Sidon’s team is busy on the ground at Morogoro, preparing for an upcoming drill program, and we have every reason to believe the company is also actively searching for additional land in the general area…Sidon, which improved its balance sheet last month by raising $1.7 million, closed unchanged for the week at 10 cents…

Seafield Resources (SFF, TSX-V)

Seafield had a good week, jumping 3 pennies to 24.5 cents on decent volume…technically, the stock needs to overcome resistance at 25 cents on high volume in order to re-capture some major momentum…we strongly believe in the potential of the company’s Quinchia District properties in Colombia but the pace of exploration there has been a concern…we’re currently arranging an interview with President and CEO Tony Roodenburg which we hope to conduct by Wednesday or Thursday…

Excel Gold Mining (EGM, TSX-V)

Excel finalized a $763,000 flow-through financing last week and also announced that a 4,000 metre drill program will begin at its Montauban Mining Camp Project, 120 kilometres west of Quebec City, by the end of the month…drill targets were selected based on information provided by the most extensive historical compilation of geological data (including over 900 drill holes) ever assembled on Montauban which is a former Gold, silver and base metals producer…the stock closed unchanged for the week at 16 cents…

Colombian Mines (CMJ, TSX-V)

Colombian was off 4 cents for the week at 77 cents, closing exactly at its 100-day moving average…for more than a month now the stock has traded in a tight range between its 100-day SMA and its 200-day SMA…our expectation, based on technical and fundamental factors, is that CMJ will ultimately overcome resistance at 95 cents and break out to the upside…traders should be watching this one closely for if and when CMJ gets through 95 cents, its move will likely accelerate rapidly just based on technical factors…on October 13 the company reported assay results for 7 more holes at its Yarumalito Property with the best result being a 151 metre section in porphyry from YAR-24 grading 0.64 g/t Au…YAR-14 returned 95.5 metres of 0.70 g/t Au…Yarumalito continues to show promise but these are still early days and much more drilling is required…CMJ is one of the best positioned companies in Colombia with a history in that country and a large package of properties…the stock is up 28% since our introduction of it late last year (it was up as much as 170% at $1.62 in March)…

Editor’s Note: North Arrow Minerals (NAR, TSX-V) has been deleted from the BMR Portfolio… more on this Monday.