Gold Bullion certainly suffered some chart damage February 15 when the stock sold off into the 50′s. Some technical selling took over again late yesterday and early today when GBB fell below 50 cents and traded all the way down to a low of 43 cents. However, those who are focused on the fundamentals went bargain-hunting today and Gold Bullion recovered to close at 48 cents in a turnaround that may even inspire some of the technicians who have been bearish lately.

The bottom line is this: Gold Bullion is sitting on a significant near-surface Gold deposit in one of the best areas in the world for exploration and mining. Just how big that deposit is (and could yet become) will be better known later this year after more drilling, more results, and an initial 43-101 resource estimate. Gold Bullion’s current market cap is $76 million. Richfield Ventures (RVC, TSX-V), which just recently released a 43-101 resource estimate for its Blackwater open-pit deposit in central British Columbia, has a current market cap of $254 million with 1.83 million ounces of Gold in the indicated category and 2.34 million ounces in the inferred category. A LONG Bars Zone with four million or more ounces is certainly within the realm of possibility. Mineralization appears to be over a wider area at Granada though Blackwater’s grades are generally higher. Granada is in a better jurisdiction and potential mining costs should be low. Investors who are focused on the fundamentals are seeing real value with GBB at the moment which is why buyers stepped up to the plate today when the stock hit levels not seen in eight months.

Below we highlight what we consider to be the top 24 holes so far from Granada – a dozen from the Eastern Extension and a dozen from the Preliminary Block Model. These results show continuity between the two areas. Assay results have been received on only about one-third of all the Phase 2 and Phase 3 holes drilled to date.