technicals are off the chart, page-5

I don't ever remember Poseidon at 1c. I bought 500 at 75c and sold at $1 about mid 1968, The big run started in 1969 when the company placed stock to finance the initial drilling. This first drilling was after taking some rock samples from works to put a cutting through a hill. It was later drilled and the results sent the stock up though $2. It pulled back and then started rising on drilling at Windarra. My diary from the time (Oct 11th 1969 records) "Poseidon recorded 3.6% nickel plus copper credits at a depth of about 250'. The market went wild & the stock rocketed to just over $30 in two weeks". The report was based on a guess by directors and a much later inquiry showed that the report was less than accurate. One director who was also a member of the Adelaide Stock Exchange was suspended from member ship of the exchange for a period of time. Poseidon only had around one million shares on issue and was thus very tightly held. From memory it went to about $298 but within a couple of years the skyrocket sputtered and went out. It was placed in receivership, was re-capitalised and directed it's attention to gold as it had bought the old Lake View & Star company, one of the old Kalgoorlie gold miners.