beware these ticking time bombs

The Intelligent Investor

Issue 204, 19 July 2006


Also ticking is Australian Mining Investments, which has been in the news lately thanks to some initially impressive drill results at its copper project near Cloncurry in Queensland. The ascent of Australian Mining, soon to be renamed CuDeco, has been even more impressive than Fortescue, with the stock rising from 16.5 cents at the beginning of 2006 to $7.11 before trading was suspended. With quite a bit of secrecy surrounding the project, the ASX requested further clarification of the drill results, resulting in the stock falling 61% to $2.75 on the resumption of trading. With so many speculators on board, we?re willing to bet that Australian Mining?s share price has further to fall.