3:30 pm Pacific

Gold Bullion Development (GBB, TSX-V) has pulled the trigger on its largest financing ever, $6 million to advance the Granada Gold Property. The financing was announced after the market closed this afternoon and was set at 54 cents, four pennies below today’s closing price.

Not all market participants will be happy with a 54-cent financing, especially since this stock was trading as high as 79 cents a couple of weeks ago, but today’s news does show how far this company has progressed in a very short period of time. Frank Basa nearly had to beg for money last December but was able to scrape together a million dollars with the help of Jordan Capital in order to get the ball rolling at Granada. Now it’s rolling faster and faster and the future is very bright for this once-fledgling junior mining company.

The $6 million injection will boost Gold Bullion’s bank account to approximately $9 million. That’s more than enough for GBB to carry out all of its exploration plans in the LONG Bars Zone through at least the spring of next year with no need for additional financing in the interim. At some point down the road, if this project delivers the results we expect it will, the company will have to consider a much larger financing – perhaps three, four or five times what was announced today – but that would likely be at significantly higher prices. The dilution factor on $6 million at 54 cents is rather minimal (under 10%).

What today’s announced financing shows is that the “big boys” with the money believe in what Gold Bullion is doing at Granada and they like what they see so far. A cynic could make a strong case that the “big boys” sold a bunch of free trading stock recently and drove the price down to the level they wanted to do a financing at. If that’s what actually happened, so be it. We’re looking ahead, not behind. The bottom line is that Gold Bullion is in very strong shape now financially and in a better position than ever to make a lot of exciting things happen at Granada and build shareholder value in the process.

The goal of a massive near-surface gold deposit at Granada is very achievable – we’re even more optimistic about that today than we were six months ago based on GENIVAR’s current analysis of the Phase 2 program (Sept. 9 news release). When big money steps into a play, good things happen. Just ask shareholders of another BMR favorite, Richfield Ventures (RVC, TSX-V). Richfield announced a large financing at $1.95 September 3. The financing closed September 17 and CDNX approval has not even be received yet. The stock closed today at $2.95. Richfield, like Gold Bullion, is cashed up and ramping up its exploration plans which translates into a higher stock price.

The potential rewards are truly incredible for those who are patient and can see what’s developing at Granada. Christmas is just three months away, and we have every reason to believe it’s going to be a very, very merry Christmas for Gold Bullion shareholders.