Gold Bullion Development (GBB, TSX-V)

Gold Bullion enjoyed a strong day Friday and what we found particularly encouraging was Jordan Capital’s renewed foray into the market…Jordan, of course, was first on the scene with Gold Bullion late last year and was the force behind the financing at 7 cents that got the ball rolling with this company and allowed it to begin drilling Granada…Jordan has been a huge buyer of GBB all year and their activity in the Gold Bullion market is important to watch…in the opening hour of Friday’s trading, they purchased 196,500 of the 211,200 shares that traded (93%)…they finished the day with 439,500 shares on the buy side and sold nothing…also interesting to note with Gold Bullion is the second symmetrical triangle of the year that has formed on the charts – very similar to the one we saw in January and February prior to the March 1 breakout (check John’s updated TA on GBB August 19)…Gold Bullion closed the week at 53 cents, a drop of just 1 penny…there is obviously very strong technical support around current levels as investors wait for more news from Granada…