Mining shares down 63%-78%! What to do …

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As the founder of Weiss Research, I feel it’s only fair that we give credit where credit is due:

If you were impressed with Larry Edelson’s spot-on calls for silver and gold bullion over the past decade, wait till you see his calls for silver and gold mining shares!

In the fall of 2011, for instance, he practically begged his readers to dump their mining shares. Those who heeded his warnings should have been able to book historic profits and then put that money away in a safe place as mining shares plunged.

But among those who failed to follow his recommendation, the losses must have been huge.

You can see those losses very clearly in the above chart of the Market Vectors Gold Miners ETF. Larry issued his now-famous “sell” signal just days after gold hit $1,920 an ounce and most mining companies also hit their record highs.

In the months that followed, the AVERAGE mining company lost 63% of its value, wiping out $243 billion of shareholder wealth.

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But the carnage among smaller mining stocks was even worse: The average small mining company lost 78% of its value …

Some juniors, like Allied Nevada Gold Corp., lost as much as 87% of their value …

And dozens more — like Patagonia Gold, Mariana Resources, and Gryphon Gold Corp. — were delisted, are in danger of outright bankruptcy, and could cause 100% wipeout losses for investors.

But it’s from these kinds of ashes that you get the greatest opportunities. As Larry explains,

“With this massive decline in mining shares, we are now at or close to one of the greatest buying opportunities in this cycle, perhaps in this century.”

Stay tuned. This is getting more exciting with every passing day.

Good luck and God bless!

Martin