When an announcement that a crosscut has encountered a 52-ft orebody, assaying $11 in gold, fails to stir prices of gold mining shares, traders and the public may be excused for wondering, What’s wrong with the market?
For more than a year, we have witnessed the phenomenon of share prices fluctuating narrowly, with little evidence of a trend in one direction or another while, at the same time, the industry has been strengthening. Good development has succeeded good development and there has been a steady and uninterrupted rise in the tempo of production and the flow of dividends.
Nothing could illustrate the unusual state of affairs in the market more strikingly than recent events in the Little Long Lac area, near Geraldton, Ont. It is with this in mind that traders and speculators have been searching for an answer to the question, What is keeping the public out? Reprinted from The Northern Miner, May, 1938.
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