Will we see similar valuations today compared to those witnessed in the early 80's?

Gold is no longer a commodity. Gold is a currency...the only currency on the planet that cannot be debased.

Gold is currently < .6% of Global Financial Assets ($194.1 trillion) - this according to a recent Goldcorp presentation. If you bump up golds role to a mere 1%......that's going to have a HUGE impact on gold prices and demand.

Economic gold deposits are becoming exceedingly rare. As Brent Cook pointed out recently: we are facing a "Peak Economically Viable Gold Discovery" problem.

Companies with economic ounces in the ground are rare co's indeed - those that have not been taken out by senior producers will see their market-caps grow dramatically. Companies that have locked up entire 'new gold districts' will see their market-caps grow exponentially.

The junior mining sector is tiny. The average investor is barely even aware that gold exists today, let alone that there are companies actively exploring for, and dilineating gold deposits. When the average investor wakes up and decides they want a piece of this tiny sector; and in the backdrop of a rising gold price.....the market will become manic; and valuations in this tiny sector will explode. Valuations may become difficult to comprehend....as they were 3 decades ago.

A famous Casey quote, "The power behind the coming Mania phase will drive these stocks like the contents of Hoover Dam trying to fit through a garden hose".