Post by
specialist9 on Jan 07, 2002 4:57pm
I am watching
I borrowed this from another board because it bares repeating here.
For a long time a stock traded on the London venture exchange called AIM. It had a property at
Esquel in the Argentinian Andes, quite remote from the rest of the world. One day they were
drilling and discovered some gold with silver mixed in. Now the price of gold was very low as was
silver so nobody took too much notice. They drilled some more and hit some more gold and silver
, nothing too incredible as far as grades go and still there was no interest and the stock
lanquished at 11 pence and would not budge, not even a tad.Well, a year went by and the
following season they drilled a little further on and discovered that the drill results were consistant
here as well as there.Soon they had outlined over a million oz of gold and some silver to boot.
Well, the little stock moved a bit and went on to 17 pence which was a remarkable move in
percentage terms.So they drilled some more and continued to increase the resource. Then one
day,some body decided to write about this little stock in a UK national paper, just mentioning
some of the stocks that could be good investments on the venture exchange. Then others got
interested and investors started to noitce this little stock that appeared to have assets in the
ground far greater than the capitalisation of the stock. This was regarded as highly irregular and
some got their calculators out and wondered why the stock was selling for such a small sum. All
of a sudden this stock started to head for the moon and it amazed the dotcom and
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