Lest We Forget: Giant Yellowknife Mines's Share Price was $39 in 1980.
posted on
Nov 17, 2009 12:03AM
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Flashback: The Time is 1980, Inflation is soaring worldwide, Interest rates are exploding, a huge Recession is underway, and Gold is soaring—the only investment asset class most investors care about. On Channel 22 – KWHY-TV, the only all business station in the United States, quotations appear every 15 minutes on a long list of Mining Companies. South African Gold Mines, known for their high dividends are favorites with US Investors and a quick glance at the TV screen shows quotes flashing on names like Western Deep Levels, Kloof, Vaal Reefs, Dreifontein, Buffelsfontein, St. Helena, Harmony, Western Areas, Freestate, Durban Deep and Minorco, Another click of the screen brings up the list of North American majors with names like Campbell Redlake, Dome Mines, Homestake Mining, Campbell Resources, Coeur D’Alene Mines, Sunshine Mining, Northgate Exploration, Hecla Mining, Callahan Mining, and Giant Yellowknife Mines. Active nearly every passing day, names like Dome, Homestake and Campbell dominate the most actives list. In the table below, we show some of these stocks at the tail end of the final “blow off” stage advance and the huge gains which accrued to some of the senior miners of the day.
Producers |
Share prices Dec. 1978 |
Price at peak |
% Gains |
Dome Mines |
$92.50 |
$154.00 |
66% |
Campbell Red Lake |
$35.50 |
$94.75 |
167% |
Dickinson Mines |
$6.88 |
$27.50 |
300% |
Sigma Mines |
$36.00 |
$57.00 |
58% |
Giant Yellowknife Mines |
$11.13 |
$39.00 |
251% |