“The purpose of this article is to attempt to determine how much the current gold bull market has left to offer, both in chronological and dollar terms.”

Ed Note: This article identifies the phase of the Gold Bull we are in now, and notes that if this bull were to replicate the 1980 bull Gold would top out at $5,820.

Click HERE to view Larger Chart and read the excellent analysis

Step-out Drilling Expands Central Zone at Magellan’s Cuiu Cuiu Deposit

Dundee’s Trading Call June 20th/2010: The results announced this week continue to support the belief that Cuiu Cuiu has size potential. Although Magellan’s Coringa project is more advanced, Cuiu Cuiu is the largest and likely the most important project in Magellan’s portfolio. We continue to like the exploration potential of this project.

The News: Drilling steps out to the northwest at Cuiu Cuiu Central Zone. On June 8, Magellan reported drilling results from its Cuiu Cuiu gold project in Brazil.

The results are from three holes stepping out to the northwest from past drilling in the Central Zone, one of several targets identified on the property. Figure 3 shows a map of the project with drill hole locations. Highlights include 0.91 g/t gold over 136.2m in hole CC_55_10 and 0.96 g/t gold over 73.2m (including 18.75 g/t gold over 3m) in hole CC_56_10.

Implications: These are significant positive results that greatly increase the size of the Central Zone. These holes increase the strike length of mineralization by about 230m (to a total of 530m). The zone remains open to the northwest and at depth. Although there have been a few higher-grade holes in the Central Zone, the gold grades in these new holes are generally in-line with past drilling, with long intersections of gold mineralization from close to surface.

What’s Next: Drilling continues at Cuiu Cuiu. Assays are pending for additional drill holes targeting expansion of the Central Zone to the northwest, and drilling continues on the Central Zone and the Moreira Gomes Zone, two of several zones identified on this large property.

DundeeWealth Inc. is a Canadian-owned, independent wealth management company that provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. The company is listed on the Toronto Stock Exchange under the symbol DW.

DundeeWealth operates in three businesses: investment management, financial advisory and capital markets. Our investment management division relies in large part on the success of our award-winning portfolio managers and the Dynamic fund family for which the company has become so widely recognized. It offers a variety of managed solutions developed for a full range of investment goals and is informed by our unwavering focus on stable, long-term growth.

Sean Brodrick sees silver reasserting itself as a monetary, investment and industrial metal. South of the border, some of the Mexican miners have an “embarrassment of riches”—which have largely escaped the attention of Wall Street.

“I’ve been to Endeavour Silver Corp. (NYSE:EXK; DBF:EJD; TSX:EDR) and seen their projects in Guanajuato and Guanaceví-they look great. I expect they’ll be acquiring either a private or a public company. I’m not hearing that from them; just seeing how they’re positioned, sitting on cash, looking around for this deal and that deal. What that would do to the share price depends on the structure of the deal, but it can’t hurt.”

“I think they’ll do extremely well. They had nice revenues last year,  and in the first quarter of this year revenues increased something like 115% over the year prior. That’s not hard to do when the price of  silver is soaring, of course; but the nice thing about each of these  companies I’ve mentioned is they went through the low prices we had in  silver and came out stronger. Each of them had to cut back, really  tighten their belts. That made them much leaner and meaner. Their  growth picture is really good now because they’ve already been through  the bad times. So as the price of silver goes higher, they can have  real growth in their earnings and their revenue. And they’re all ramping up their production. They have new land packages.”

Daily Chart (Click to Enlarge)

Weekly Chart (Click to Enlarge)

A natural resources analyst for Weiss Research, Inc., Sean Brodrick travels far and wide seeking out investment values in the sector, primarily among the small-cap and micro-cap players. He edits Weiss Research’s Crisis Profit Hunter, Red-Hot Canadian Small-Caps, Red-Hot Global Small-Caps and Red-Hot Commodity ETFs, as well as making regular contributions to Uncommon Wisdom Daily. He is also a contributing columnist to Dow Jones MarketWatch and a frequent commentator on one of Canada’s premiere financial websites, HoweStreet.com.