BMR musings!Any weakness right now in Gold Bullion Development is a gift…
Gold is taking a slight breathertoday after marching to a new all-time high Friday…Goldis essentially unchanged at $1,255.90 as of 7:50 am Pacific time…the CDNXis up 7 points to 1495…the Venture is clearly in a new uptrend and thefirst major area of resistance is 1560, right around the 50 and 100-daymoving averages…if the CDNX is able to clear thathurdle, look out…we expect a powerful week for Gold BullionDevelopment (GBB, TSX-V) as the market beginsto anticipate the first results from Phase 2 drilling at the GranadaGold Property…as outlined in our Week In Review And A Look Aheadyesterday, GBB’s Phase 2 results in theory and ingeneral should even be better than Phase 1 as GENIVAR learned so muchfrom that first 2,800 metres of shallow drilling in December andJanuary…given the impressive Aukeko and Austin-Rouyn showings andhistorical workings to the east (approximately 2.2 and 3.5 kilometresrespectively), and the favorable geology that runs right out to thoseareas on strike from GR-10-17, the LONG Bars Zone has become a massivetarget that clearly has the potential to host far more than the 2.4 to2.6 million ounces already projected (non-43-101 compliant) within justthe Preliminary Block Model…there are few opportunities like this, as wesee it, in the market today…location is also a key aspect of this playas Granada is surrounded by all the necessary infrastructure for a giantopen-pit operation…it’s also in a politically safe and favorablejurisdiction (ranked #1 in the world) for mining and exploration –Quebec…Gold Bullion is down a penny at 56 cents as of7:45 am…