To paraphrase Shakespeare..."My kingdom for some news!".

I haven't been writing very much lately since most of the small cap stocks I follow have been very quiet. I know they've been busy drilling away, but every once-in-a-while it's nice to get an update so that your investing thesis either continues to be verified or needs revising. Anyhow, some interesting news finally came out from a company I have just taken a position in about two weeks ago...

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V.GBB
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Gold Bullion Development Corp. has just announced that they have increased their land package around their Granada Gold Property. These new "earn in's" increase their current land position from 4900ha to 11100ha. The next few months will tell an interesting story. I'm hypothesizing here, but could it be that they've held off releasing drill results until the surrounding land has been purchased? It would certainly be a shrewd strategy.

The deposit, as defined in their block model, has roughly 2.4 million ounces of gold (non 41-101) roughly at a grade around 1g/t. However, as with many old past producing mines, there has been no serious previous modern exploration and from what GBB's consultants have done, it appears that significant mineralization exists beyond the block model. So a relatively low grade deposit could be offset by shear size. The geology of the deposit is different from the Osisko property (both occupy the same 'Cadillac Trend') so I wouldn't want to compare the two too closely, however, the regional geology has produced large amounts of gold so
as GBB's CEO Frank Basa says... "...the address is right...".

I would again caution folks looking to buy in that there is no 41-101 compliant resource yet. This means that GBB is still very early stage here and that entails real risk. We still don't know anything about production costs yet beyond what the adjacent companies pay per ounce ($300-$400...I believe). At this price, the mine would be economic in my estimation, but until feasibility is demonstrated it's all up in the air.

There is always more to any story and I will write a bit more about it later.

Press Release...

http://www.theglobeandmail.com/globe-investor/news-sources/?date=20101129&archive=cnw&slug=C8500

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V.PX, T.SAC
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Pelangio has not released any news lately, but they exemplify a good heads down 'pedal to the metal' approach to mine development, i.e. they aren't wasting any time. Look for new drill results to come out before the new year (just a guess on my part from following their previous time line). Also look for an updated 'fact sheet' on the website as they are attending the '2010 Mines and Money' conference in London.

South American Silver has released their December corporate presentation and should also have some new drill results soon. Be on the lookout for an updated resource estimate.

Upcoming news should be positive for both stocks.

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TAX LOSS SELLING
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Have a dog you've been holding for a while? Remember that this is tax loss selling time. This year there is a twist. If tax rates go up in the US, look for people to hold on to their losers until the new year. If the tax cuts are extended look for the selling to occur before. 


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Disclosure
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I own positions in all stocks except V.CML.

Do your own DD from reliable third party sources.

A.