September 5, 2010
The BMR Portfolio (Week in Review Part 2 of 3)
Gold Bullion Development (GBB, TSX-V)
It was a stellar week for Gold Bullion as it blasted through resistance between 59 and 64 cents and came within a penny of touching its all-time high of 71 cents back in June…the stock closed the week at 67 cents, up 12 cents, on CDNX volume of 8.5 million shares (plus more on the ALPHA system where GBB volume is significant)…the reason for the move, of course, was the company’s announcement that it expects to release additional assay results sometime next week from its 20,000 metre Phase 2 drill program at the Granada Gold Property (nice timing)…Gold Bullion also announced it had finalized some mining lease and claim agreements for Granada…so what should we expect next week?…the trend with GBB throughout the year has been very clear – steadily improving exploration results, and we see no reason why that trend should change now…what we hope Gold Bullion will also do is give a more detailed geological overview of what’s happening at Granada, what’s driving the mineralization, and has GENIVAR come to a better understanding of the “plumbing system”, so to speak, after 4 months of intense drilling?…for us, that’s what we’re most interested in seeing…no doubt there will be some good drill results, but a deeper understanding geologically of what’s going on will be immensely helpful…there does seem to be something different happening in the LONG Bars Zone east-northeast extension…a significant amount of porphyry is being intersected there which is interesting and it does seem to be carrying mineralization…a narrow quartz vein deposit this is not…something bigger is taking shape and we hope Gold Bullion can paint that picture for us next week…we’ve been successful with Gold Bullion because we’ve done our homework and we’ve had our boots on the ground there three times already…we know this property well and we believe 100% in its potential as a multi-million ounce open-pit deposit…we’re going into next week with complete faith, and we believe there’s an excellent chance a new and exciting chapter in Gold Bullion’s history will be written this month…
