Tasminex (the company)

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JimmyEyebrow

1,361 Posts.

23

02/09/15

14:46

Post #: 15921105
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Folks,

Please note the cautionary tale told in the following article. It relates to a company named Tasminex that engaged in some reasonably unsavoury activities back in the day. Interestingly, the site where all this skulduggery took place was eventually taken over by... GXN.

This makes fascinating reading and it may pique your interest about people posting here ramping Condor.

Happy reading.

http://www.pierpont.com.au/article.php?WA-s-Mt-Venn-makes-a-Comeback-279

EXTRACT

He doesn't look much like Marlon Brando, but a few weeks ago Helix Resources chairman Robert Mosig made an offer Pierpont could not refuse.

Robert sauntered up to your correspondent at the South Australian Resources Conference and asked: "How would you like to see Mount Venn? We're about to do the first drilling program there in 30 years."

The invitation was irresistible. Mt Venn may have been lying dormant for one-third of a century, but its name is still etched in letters of fire into the memories of veteran share traders. On January 27, 1970 a day that shall live in infamy on the stockmarkets shares in a company called Tasminex No Liability rocketed from $3 to $96 on the basis of a false report that it had struck nickel at Mt Venn.

The share price declined slowly, even though the board helped by selling several of their own shares into the overheated market. Punters who bought the stock at stupid prices burned their fingers badly, particularly those who bought on the overnight market in London.

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Also from our very own Hot Copper
http://hotcopper.com.au/threads/remember-tasminex.335590/#.VeZ98_mqpBc

CDB Price at posting: 3.2¢ Sentiment: None Disclosure: Not Held
4 Upvote

0 Great analysis

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Tasminex (the company)

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