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How High Can Gold and Silver Stocks Go? Hang On!

Commodities / Gold & Silver 2009 Aug 06, 2009 - 06:43 AM GMT

By: Dudley_Baker

Commodities

In December 2003 Edward Gofsky wrote a great article titled, “The 21st Century Gold Rush: How High Can Gold and Silver Stocks Go? Higher Than You Might Think!!”


Being a bull on the precious metals I thought then what a great article. I have recently been in touch with Edward and he has given me permission to use his article in this piece.

What he did was visit the local library looking at old newspapers from the 1970’s for the price of gold and silver stocks and then comparing them to their ultimate peak in share price in 1980. Now it is probably a surprise to no one that gold and silver stocks were on fire as gold and silver peaked in January 1980 but some specific examples that Edward shares with us are just awesome and mind blowing, begging the question can ‘they’ do it again? But to put it in Edwards’s words:

“In the last few months I have started out on a unique quest…to go back in time to the 1970’s and to see what happened to gold and silver stocks when gold hit $500 then $600 then $700 all they way to the $850+ price and $50 silver….”  

“…I started my research by going to my local library to look at old newspapers from the 1970’s, and wow did I find some amazing things!! My library had the financial post newspapers on microfilm all the way back to 1972 the very beginning of the last gold and silver bull market. I quickly went to work spending hours poring over the old papers looking for articles and stories on gold and silver to see if there were any similarities between now and the 1970’s….” 

“…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 of 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."

“…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 warrants available on these mining shares?

We now make available a FREE Warrant Database for visitors to our website,

www.PreciousMetalsWarrants.com. This basic database includes all warrants trading on the natural resource shares with complete details and terms of each warrant. For subscribers, we also furnish a table of all options and LEAPS available on the sector.

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?

Well, personally I follow many different analysts and newsletter writers to assist me and my subscribers at PreciousMetalsWarrants 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. We see a peak in gold as early as January 2011 and as late as February 2012. Can you be patient and wait that long?

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.

We appreciate Edward allowing us to share his original article and may make refer to it in some of our future articles.

 

For those readers unfamiliar with our services:

  • PreciousMetalsWarrants.com provides an online database for all warrants trading on the natural resource companies in the United States and Canada.
  • InsidersInsights.com tracks the buying and selling of corporate insiders with a focus on the junior mining and natural resource sectors. Buy and Sell Alerts are issued as deemed relevant based upon our analysis.

We encourage all readers to sign up for our free weekly email.

Dudley Pierce Baker
Guadalajara/Ajijic, Mexico
Email: support@preciousmetalswarrants.com
Website: PreciousMetalsWarrants
Website: InsidersInsights

Dudley Pierce Baker is the owner and editor of Precious Metals Warrants and Insiders Insights. Articles are written by Dudley Baker along with contributing editors, Arnold Bock of Mendoza, Argentina and Lorimer Wilson of Toronto, Canada. PreciousMetalsWarrants provides an online subscription database for all warrants trading on junior mining and natural resource companies in the United States and Canada and a free weekly newsletter. InsidersInsights alerts subscribers when corporate insiders of a limited number of junior mining and natural resource companies are buying and selling.

Disclaimer/Disclosure Statement:PreciousMetalsWarrants.com is not an investment advisor and any reference to specific securities does not constitute a recommendation thereof. The opinions expressed herein are the express personal opinions of Dudley Baker. Neither the information, nor the opinions expressed should be construed as a solicitation to buy any securities mentioned in this Service. Examples given are only intended to make investors aware of the potential rewards of investing in Warrants. Investors are recommended to obtain the advice of a qualified investment advisor before entering into any transactions involving stocks or Warrants.

Dudley Pierce Baker Archive

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