Golden Valley Mines Ltd GLVMF

Gzz

[arh0070]

Abitibi released an update following the reporting of the quarterly results from yamana and agnico .The malartic mine continues to perform well and is very profitable .Unfortunately no drilling results from the ongoing drilling at malartic were released .The new drilling that has been done is on the edge of the abitibi royalty zone .Abitibi continues to buy back small numbers of shares with its limited cash flow so the total number of shares out remains around the same when you take into account grants to officers of abitibi .The abitibi float is very low so buying back around 100,000 shares has kept the stock price up relative to other golds including gzz .There is no question right now that the best way to buy abitibi at a discount is by  buying gzz .In one of the quarterly reports there was a mention of proceeding to start on relocating the highway which will take two years .There is no mention of recieving the final permitting for this yet ,but it must be coming soon .So it is going to be 2 years before the full abitibi royalty stream will kick in .The value of abitibis stock holdings in yamana and agnico has fallen by about a third due to thier declining stock price some of this decline has been hedged by the covered call writing .It does appear that the gold mining sector especially in quebec is on the verge of an upward breakout .There is all kind of termoil in developing countries trying to capture more of the revenue from mining so this is a positive for quebec mining .I expect within 6 months that gzz stock price will be back up to its all time high around 50 cents .Sentiment on stockhouse is very bad with very few notes being generated .All together for those with money great time to buy gzz .