"There were market rumours about Tasminex undertaking drilling at Mt Venn that saw its price rise from $A2.30 to $A18.50. When Tasminex's chairman and key shareholder, Tasmanian businessman Bill Singline, mentioned to journalist Trevor Sykes that the company had struck massive sulphides and the prospect could be bigger than Poseidon (Poseidon Ltd had been the catalyst for the sharemarket rage with its Mt Windarra nickel find).
Sykes filed the story that evening, too late for most Australian deadlines, but on its release in time for the London market, with the share price rising as high as $A75.
From that point it was all downhill, ending with a Tasmanian Government investigation disclosing that Singline sold shares in this peak period to realise $1 million, a massive sum in those days."
