RE: Value creation20 Feb 2022 10:51
Who remembers Poseidon who owned mining rights in W Australia and discovered nickel in summer 1969, and lots of it?
Their shares at the time stood at a pre-decimal 4 shillings.
In September, when the size of the find became known, the share began its meteoric rise and, helped by rumours within a couple of months topped out at £120 before common sense kicked in, the bubble burst and the price slid back down to £10.
I'm not purposefully drawing any parallels with PRD except to say that massively opportunistic events do occur, markets and practices have greatly changed over the last 50 years but investors' appetites to mount a winning steed, albeit temporarily, will never tire. We're still at the starting line, chomping the bit.