Letters to the Editor Handbook – fountain of information

I have been a subscriber to The Northern Miner for more than 45 years and, in addition, have a copy of every issue of the Canadian Mines Handbook since 1934. True, the cmh made its debut in 1931, but it was not until later on that I became interested in the mining industry and its importance to the Canadian economy. Soon after, I learned about the stock market and what a fountain of information I found in the pages of this small book.

When I got more knowledgeable I decided it was time to make my first plunge in the stock market. This decision was not made until I read several progress reports on the company I had in mind. These were found in The Northern Miner, but for the most important basic fundamentals I referred to the latest issue of the Handbook.

I contacted management for some other answers and felt I was ready to make my first stock purchase. It was just around the time when the price of gold was increased from $20.67 per oz to $35.

That sure was the forerunner of a booming gold market. Gold shares were the darlings of the time just as they are today. The gold price is around $455(US) per oz and even though operating expenses have increased substantially over the years gold producers are reporting good earnings and share prices have escalated to unheard-of levels.

I made a good short-term profit (no capital gains tax then) and, just like the kids today, I wanted wheels. My first car was a 1932 Pontiac Cabrolet with fold-down windshield and complete with rumble seat. It wasn’t exactly new and it cost me $350. The year 1936 was a good year, I remember. First car and first steady girl friend, to whom I am still married today.

I have made many stock trades since — some winners, some losers — and I am still using the same tools — The Northern Miner and the Canadian Mines Handbook. To me they are the bible of the industry.

I just received my 1987-88 issue of the cmh and, as usual, new innovations, up-dates and revisions are easily spotted throughout its 500-plus easy-to-read pages. Anyone interested in the mining business, let it be professional, investment, marketing or even market speculation, would be well advised to add the Canadian Mines Handbook to their personal reference library. I did and it paid off. “Investigate before you invest” is as true today as it was when I made my first stock purchase many years ago. Paul Munger North York, Ont.