Prices of 1970’s gold stocks https://juniorminingnews.com/?p=260815
I posted this article before but I feel it's important to not forget history. As the old saying goes "History does tend to repeat itself" and it certainly looks like the 1970's all over again. The price of energy is starting to soar again and the prices of most things are going along with it and you have global political unrest. All the right ingredients to cause the price of gold and gold stocks to soar. Some of the higher quality gold stocks back in the 70's peaked in 1980 well into the hundreds of dollars per share it can happen again folks.
There were a few articles about gold from 1972 to 1975 but the real big stories didn’t really get published until around 1978-79 and especially in January of 1980 the final blow off top in both gold and silver. What I really wanted to uncover from the old financial papers were old stock tables so I could see how high most gold and silver stocks got to in January of 1980 and from what level a few years earlier…”
“…What I found was absolutely shocking. In 1975 most or all of the gold and silver stocks were trading under $2 most were penny stocks under $0.50…”
Sound familiar? Today most of the junior mining shares are selling for pennies. Are we set up once again for a mania phase in resource shares?
Edward shares with us some examples of his findings, i.e., “Lion Mines – 1975 price $.07 / 1980 price $380 YES that’s right it’s not a misprint you could have bought 1000 shares of lion mines in 1975 for around $50 dollars at 7 cents per share and held on for 5 years riding the wild gold and silver bull until 1980 where you then sold those same shares for $380 each for a total profit of around $380,000. Not bad hey!!!!! This is only one of many more examples.”
Need some more examples of names you have probably never heard of and are no longer in existence?
Bankeno
1975 Price $1.25 / 1980 Price $430
Wharf Resources
1975 Price $.40 / 1980 Price $560
Steep Rock
1975 Price $.93 / 1980 Price $440
Mineral Resources
1975 Price $.60 / 1980 Price $415
Azure Resources
1975 Price $.05 / 1980 Price $109
“These are only a handful of gold and silver stocks that participated in what I consider one of the biggest financial opportunities in the history of human civilization. I don’t know of any other time except maybe the .com bubble where in only a 5 year time span you could have tuned so little into so much wealth…”
Imagine buying in 1975 a handful of gold and silver stocks for under a dollar and selling them in 5 years for $100, $200, or even $500 per share as gold fever ripped through Wall Street.
This one decision in 1975 to buy just a handful of gold and silver stocks and sell them near the all time high’s of hundreds of dollars per share could have set you up financially for the rest of you life!!!!”
“…in January 1980 most gold and silver stocks were trading over $50 per share and lots were trading over $100 – $200 some even as high as $500 per share when only a few years earlier you could have bought the same stocks quietly for under 1 dollar…”
While these numbers are staggering, can you imagine if there had been call options, LEAPS or long-term stock warrants available on these mining shares?
Thru the years as I go back and re-visit Edward’s article, I get goose bumps to think we may see this manic one more time. Could we? If so, when?
Folks, it sure seems that we are there once again in history with a similar opportunity to make a killing with gold and silver stocks. This long bear market in the miners has hurt or destroyed many investors and professionals alike and it now time for history to repeat itself with only the names of the companies (the big winners) left in question over the next few years.
Personally I follow many different analysts and newsletter writers to assist me and my subscribers in navigating the overall trend of the markets and I must confess I am convinced that the next monster mania phase is coming and coming very soon.
I encourage each of you to read Edward Gofsky’s complete article on his website. You will never forget this read and your timing could never be better than today.