Loading ...Absolutely Incredibull
This Stock was $2 at the beginning of 2016 when all heel broke loose in the PM space and everything went nuckin Futz
KL went to $8
Nice move
Then ALL other PMs “corrected” in a mind numbing drift ever lower until just recently
BUT KL…did not “correct”
amazing
Yes, Fully… this one is a keeper!
I remember another gold company stock who’s share rose from under $3 in 1998 to over $100 about 10 years later.
The company was Randgold Resources (ticker symbol GOLD). I almost bought some shares when it was $3, but I decided to go with GFI instead. Oh well.
Randgold was taken over by Barrick Gold Corporation recently, and then Barrick had the nerve to hijack their ticker symbol.
I never liked Barrick, and I still don’t like them.
I hope that I am not stepping too far out of line here. 🙂
Back in the day Barrick was easy to hate. They had a bunch of ex politicians on the board and were hedging thier production at LOW prices.
Darth Barrick !
Incidentally, one very bad business decision that really hurt Gold Fields (GFI) was the purchase of the South Deep Mine from Barrick Gold Corporation (ABX).
I think they paid way too much, and they are still paying the price for that move today. Mining at extreme depths and extreme operating temperatures, frequent seismic events, accidents, strikes, etc.
At the time, I thought that this move was akin to taking a poison pill (perhaps so no company would try to buy them out). I should have sold my shares way back then. Oh well. Live and learn.
Simply amazing!!!
But it’s too late to jump on this wagon now….it would be good to find other 20 baggers like this and it would be interesting also to find what gold and silver stocks are the probable candidates to the title of “10 and 20 baggers ” for the goldtenters.
I have had a few 10-baggers and 20-baggers over the years. Typically I had purchased shares for around $1 or less and held on for a very long time (many years).
One of these was Richmont which was taken over by Alamos Gold (AGI). I bought all of my shares in the range of 50 cents to 90 cents. I think they were purchase for around $10 in the takeover.
We may see a few 50-baggers at some point. I think that Kirkland Lake Gold is a good candidate for that.
Up until now, we have experienced a stealth bull market with the most attractive gold mining companies being bid up the most.
Now it appears that a rising tide is starting to lift all boats. Even our friend, Bob, is catching a bid.
For the long run, I think that quality PM exploration companies will increase the most on a percentage basis. However, it may take awhile before they catch on fire.
I remember in the late 1970s when the shares of small PM exploration shares were wildly bid up… 40-baggers and 50-baggers were common. Then they quickly flamed out.
Two simple ways to play this theme are GOEX and UNWPX. Note that GOEX is an exchange traded fund with very low trading volume at this point in time.
UNWPX is a mutual fund with a concentration of very small PM exploration companies.
However, it is difficult to predict the future, and anything can happen or not happen.
So, do your own research, and don’t bet the farm on any one company or investment theme.
JMHO
Many more will take off now.