There are several developing situations which we will be following up in detail later today and over the course of the weekend with analysis and updated charts:
1. GOLD – appears to have overcome resistance around $1,170, up $10 an ounce as of 6:00 am Pacific time to $1,177. Gold is looking extremely bullish and we’re certain it will make an attempt very soon at a new all-time high;
2. Sidon International Resources (SD, TSX-V) – a stock chart tells a thousand words, and the chart for Sidon – including its massive accumulation for over a month now – is one of the best we’ve seen in a long time. Sidon also broke through important resistance at 7 cents yesterday. Fundamentally, the company is changing course with a very attractive gold property in Tanzania (Morogoro East) that could make Sidon the next Canaco (CAN, TSX-V). We’ll be reviewing Sidon in more detail over the weekend with an updated chart and more pictures and information from Morogoro East;
3. Gold Bullion Development (GBB, TSX-V): Gold Bullion made a nice reversal yesterday and with drilling starting up again next week at the LONG Bars Zone, expect action to heat up again in GBB;
4. Kent Exploration (KEX, TSX-V): BMR is expecting news later today from Kent which is holding its AGM today with the shareholder vote as well on its proposed spinoff of Archean Star Resources.