BullMarketRun.com

Gold Bullion Development (GBB, TSX-V)

Gold Bullion held its ground last week and staged a potentially bullish reversal Friday after dropping to a post-news low of 51 cents…the stock closed at its high of the day Friday at 56 cents for a weekly loss of just 2 pennies…in this type of situation, following the technical damage that was recently inflicted on the stock, a recovery could take a few weeks to really gain traction so investors need to be patient…a significant turnaround sometime in March is likely based on technicals and fundamentals…it’s very encouraging that GBB is now bouncing off previous RSI, Stochastics and CMF support levels…we’re continuing to review the latest drill results (56 holes in total) in preparation for a major write-up but our faith in the Granada Gold Property remains as strong as ever…for long-term investors, the sell-off should be viewed as a gift as the results do not diminish Granada’s multi-million ounce potential in our view…in fact, they strongly support that potential…this deposit will be all about volume, so it’s absolutely critical that Gold Bullion does whatever it takes to accelerate the pace of drilling…for 10 months now, just two rigs have been operating at Granada and that’s not following the Osisko model…we’re very comfortable with the results but the pace of exploration needs to pick up at Granada (Osisko discovered this in its early days as well) as that is what will drive shareholder value…the LONG Bars Zone truly presents an incredible opportunity for Gold Bullion…

Cadillac Mining (CQX, TSX-V)

It was an eventful week for Cadillac as news came out regarding its properties in northwestern Quebec and Utah…of particular significance, Cadillac announced it’s going to proceed with an exploration program consisting of geophysics and diamond drilling at its 100%-owned Wasa Property which adjoins Richmont’s (RIC, TSX) Wasamac deposit that now boasts current 43-101 resources of 1.4 million ounces…Richmont has started a new 35,000 metre drill program of its own to upgrade and further expand resources…in addition, Visible Gold (VGD, TSX-V) has announced it’s ready to initiate a 9,000 metre drill program covering CQX ground elsewhere along the Cadillac Trend as part of their exploration deal that was completed in December…as far as Wasamac is concerned, the principal structure hosting Gold mineralization at that deposit plunges north at a dip between 50 and 55 degrees toward Cadillac’s claims…while there’s no guarantee, of course, there’s certainly the possibility that Cadillac’s Wasa claims could host an extension of Richmont’s deposit…this is what Cadillac will be exploring in addition to some highly prospective VMS targets on the property…the infamous Horne fault runs right through the Wasa claims and Cadillac discovered a zone last year (by deepening the only hole they’ve ever drilled on the property) that’s interpreted to be a feeder system typical of those seen under VMS systems in the Noranda camp…Cadillac’s Wasa clams have great potential and we’re pleased to see they’re going to “seize the moment” and drill for a possible discovery…besides northwestern Quebec, Cadillac has secured an entire former mining camp in Utah near the Nevada border (the “Goldstrike District”) which has Carlin-type potential…Goldstrike produced over 200,000 ounces of Gold and Silver from numerous open pits in the late 1980′s and early 1990′s…the area has never been properly explored and Cadillac is planning a major exploration program in order to unlock the potential value of Goldstrike…the company gave more details on Goldstrike in a news release Thursday…this is a well-run company with high quality projects and a market cap of only $8.25 million…the risk-reward ratio here is incredibly attractive which is why we are following Cadillac so closely…the stock was ahead 1.5 cents for the week at 33 cents…the 20-day moving average (SMA) has reversed to the upside after the recent normal retracement that took CQX from a high of 50 cents to a low of 21 cents…

Abcourt Mines (ABI, TSX-V)

Abcourt was off 1 cent for the week at 19 cents, a penny and a bit above its rising and supporting 50-day moving average (SMA)…given what silver is doing, we believe it’s only a matter of time before this stock has its day in the sun…Abcourt released assay results February 15 from six more holes at its Abcourt-Barvue Silver-Zinc Property near Val d’Or, and results continue to be very encouraging…the holes were all drilled 150 to 200 metres from surface and five of them intersected two zones of high grade silver and zinc…Hole #16 cut 152.26 g/t Ag over 12.7 metres…the heavy accumulation that began in Abcourt in December was no fluke in our view…this is a company with significant assets that could justify a substantially higher valuation…nearly 60 million shares of ABI changed hands on the CDNX in December and January – record volume for this stock, accompanied by a price jump from 14.5 cents…we’ve seen these type of volume surges before and they are always a very positive sign…Abcourt is being accumulated, and our best guess is that some savvy players like the assets in the ground…the 10,000 metre drill program at Abcourt-Barvue continues with the goal of upgrading and augmenting existing 43-101 reserves and resources…the company is also trying to justify an expansion of the proposed mill from 650,000 tonnes to one million tonnes…Abcourt-Barvue is a former producer and one of the best silver assets in the country with nearly 20 million ounces in all-category reserves and resources (plus nearly 300,000 tonnes of zinc)…in addition, the company holds the former producing Elder Gold Mine near Rouyn-Noranda which it hopes to put back into production within 18-24 months (considerable infrastructure is already in place as we saw during our recent site visit)…drilling continues at both Elder and the adjacent Tagami Property where there is strong potential for a significant discovery…Abcourt completed a $4 million financing at the end of December…with 110 million shares outstanding, its market cap currently sits at just $22 million…continued drilling success and even higher prices for Gold, silver and zinc would be exciting developments for this stock which has a history of major moves…from mid-2005 to early 2006, Abcourt rocketed from 15 cents to nearly $1.40…

Currie Rose Resources (CUI, TSX-V)

Currie Rose continues to build an impressive base after its January drop to a low of 15 cents…the key technical event we’ll be looking for in March with CUI is a reversal in the 50-day moving average (SMA) which has been in a sharp decline since January and currently sits at 22.5 cents in a zone of technical resistance…significant accumulation has been taking place in Currie Rose given the CMF indicator which shows steadily increasing buying pressure since early this month…RSI and Stochastics indicators are looking positive as well…Currie Rose was unchanged for the week at 18.5 cents…the company last came out with news January 25, announcing a joint-venture deal with Australian-based Liontown Resources for Currie’s Jubilee Reef Gold Project in Tanzania…CUI’s focus is on the Sekenke and Mabale Hills Projects, so finding a partner for Jubilee Reef made sense…the deal commits Liontown to at least 5,000 metres of drilling at the property this year which will give Currie Rose a minimum of 23,000 metres of drilling at all of its properties in 2011…an 8,000 metre program is in progress at its Scadding Gold Property near Sudbury which was optioned to Trueclaim Exploration (TRM, TSX-V)…this property will be getting some major exposure with a segment on “Today in America” which is expected to air nationally on the FOX Business Network and regionally on CNN Headline News…while Currie Rose has had its market cap shaved considerably, from a high of nearly $40 million to the current $16 million, what hasn’t changed is the quality of this company’s project portfolio which remains as high as it ever was in our view…

Richfield Ventures (RVC, TSX-V)

Richfield hit a new all-time high of $5.50 last Tuesday before pulling back slightly from that resistance area to close the week down a dime at $5.30… everything continues to look very positive with Richfield which has commenced an expanded new drill program at its very exciting Blackwater Project in central British Columbia….on February 8 the company released the final seven holes from its 2010 drilling at Blackwater… a one-kilometre mineralized zone from east to west has now been defined…the latest results included 206 metres grading 1.56 g/t Au in BW-114 and 39 metres of 2.74 g/t Au in BW-112 which was collared 100 metres east of known mineralization…the company will be drilling at least 30,000 more metres this year and is also working on a Preliminary Economic Assessment which should be completed by the fall…given the state of the Gold market and the likelihood of continued exploration success at Blackwater, we don’t believe the stock will be hanging around current levels for very long…we were very pleased to see that Richfield got a well-deserved buy recommendation recently from GMP Securities which has initiated coverage on RVC with a 12-month target price of $11.10 per share…BMR introduced Richfield to its readers in December, 2009, when the stock was trading at only $1.20…GMP sees the potential for at least five million ounces of Gold at Blackwater which is located in central British Columbia…the primary trend remains up with Richfield and there’s every reason to expect more excellent drill results throughout 2011…we believe the company’s ultimate objective is to find a buyer who can put this deposit into production…if good drill results continue as we expect they will, we’re confident that objective will be met and the takeover price could be much higher than the company’s current market cap of approximately $230 million…