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Jay Taylor has been publishing his Gold & Gold Stocks Newsletter for almost 20 years. As a full time Gold Analyst at a major New York Investment Bank, Mr. Taylor takes his years of experience to subscribers in a monthly newsletter. For the benefit of Silicon Investor readers I will publish a condensed version of his weekly hotline reports to give everyone an opportunity to explore Mr. Taylors analysis on various Gold Companies and hopefully provide a useful forum for additional discussions.
Enjoy the reading.
Jay Taylor's Gold & Gold Stocks
VOL. 16, NO. 1 (Formerly North American Gold Mining Stocks)
JANUARY 13, 1997
1996 In Review
This past year was another very positive year for the portfolio of gold shares covered in this letter. Although the price of gold actually declined 4.88%, we managed a non-annualized gain of 65.07% for the year. No doubt the continuous euphoria in the equities market in general was partly responsible, but our strategy of buying a large portfolio of exploration stocks that add value for shareholders through the discovery of mineral deposits was no doubt also responsible. The best example of the merit of this strategy was with BRE-X Minerals, which was first recommended on our telephone hotline message on February 4, 1995 at $1.77 and then again at $1.64 in our March 14, 1995 letter. We sold out of BRE-X on our November 9, 1996 at the equivalent of $176.90 for a gain of 9,894.35% when politics and greed began to muddy the waters for BRE-X shareholders. With most of the gains on BRE-X taking place during 1995, that stock contributed a gain of 286.24% in 1996 which was our best performer for the second consecutive year. But there were other happy stories too, like AfriOre (+212.96%); Lyon Lake Mines (+235.01%); and Virginia Gold (+226.64%). Also we were fortunate to sell out of Navarre Resources (+243.75%) before that stock hit the skids. In addition to these five stocks that each gained more than 200%, we were fortunate to have fourteen of our issues gain between 100% and 200%; Eleven stocks gained between 50% and 100% and nine increased between 10% and 50%. These are the kind of gains that are possible from a speculative portfolio during a bull market.
Best wishes for a happy, healthy, prosperous and peaceful new year.
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