October 17, 2010
The BMR Portfolio
Gold Bullion Development (GBB, TSX-V)
Gold Bullion is likely on the verge of closing its $8 million private placement…our best guess is that this will occur during the upcoming week…the stock finished ahead 1 penny last week at 58 cents and has held at or above its rising 100-day moving average over the past month…technically, one could make a strong case that GBB is getting very close to starting a new uptrend…volume has tapered off considerably over the past couple of weeks, typical of the late stages of a consolidation, and the 20-day moving average (SMA) appears ready now to reverse to the upside…more drill results from the LONG Bars Zone can’t be far off…it makes sense that we should expect a very steady flow of results through November and December….
