|
Posiedon Bubble
The Poseidon bubble was a stock market bubble in which the price of Australian mining stock, shares soared in late 1969, then crashed in early 1970. It was triggered by the discovery by Poseidon Nickel of the early indications of a promising nickel Ore#Ore deposits, deposit in September 1969. In the late 1960s, nickel was in high demand due to the Vietnam War, but there was a shortage of supply due to industrial action against the major Canada, Canadian supplier CVRD Inco, Inco. These factors pushed the price of nickel to record levels, peaking at around £7,000/ton (£113,000 in 2018 adjusted for inflation) on the London market early in November 1969. In September 1969, the mineral exploration company Poseidon NL made a major nickel discovery at Mount Windarra northwest of Laverton, Western Australia. In early September its shares, which had been trading at $0.80, began rising on insider trading (which was not illegal at the time). On 1 October, Poseidon announced that drill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, smaller islands. With an area of , Australia is the largest country by area in Oceania and the world's List of countries and dependencies by area, sixth-largest country. Australia is the oldest, flattest, and driest inhabited continent, with the least fertile soils. It is a Megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and climates, with Deserts of Australia, deserts in the centre, tropical Forests of Australia, rainforests in the north-east, and List of mountains in Australia, mountain ranges in the south-east. The ancestors of Aboriginal Australians began arriving from south east Asia approximately Early human migrations#Nearby Oceania, 65,000 years ago, during the Last Glacial Period, last i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |