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Poseidon Bubble
The Poseidon bubble was a stock market bubble in which the price of Australian mining 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 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 Canadian supplier 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 drilling had struck 40 metres of ore averaging ... [...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] |
Stockbroker
A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks and other investments to financial market participants in return for a commission, markup, or fee, which could be based on a flat rate, percentage of assets, or hourly rate. The term also refers to financial companies, offering such services. Examples of professional designations held by individuals in this field, which affects the types of investments they are permitted to sell and the services they provide include chartered financial consultants, certified financial planners or chartered financial analysts (in the United States and UK), chartered strategic wealth professionals (in Canada), chartered financial planners (in the UK). The Financial Industry Regulatory Authority provides an online tool designed to help understand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Mining In Australia
Mining in Australia has long been a significant primary sector industry and contributor to the Australian economy by providing export income, royalty payments and employment. Historically, mining booms have also encouraged population growth via immigration to Australia, particularly the gold rushes of the 1850s. Many different ores, gems and minerals have been mined in the past and a wide variety are still mined throughout the country. Production overview In 2019, Australia was the world's largest producer of iron ore and bauxite; the second largest of gold, manganese, and lead; the third largest of zinc, cobalt, and uranium; the fifth largest of salt; the sixth largest of copper and nickel; the eighth largest producer of silver and tin; the fourteenth largest of phosphate; and the fifteenth largest of sulfur. The country is also a major producer of precious stones. Australia is the world's largest producer of opal and is one of the largest producers of diamond, ruby, sap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Western Australia
The Western Australian economy is a state economy dominated by its resources and services sector and largely driven by the export of iron-ore, gold, liquefied natural gas and agricultural commodities such as wheat. Covering an area of 2.5 million km2, the state is Australia's largest, accounting for almost one-third of the continent. Western Australia is the nation's fourth most populous state, with 2.6 million inhabitants (11% of the national population). In 2011, Western Australia provided 46% of Australia's merchandising exports. In 2018-19, Western Australia's gross state product was A$260.6 billion (14% of Australia's GDP), making it the nation's most productive state, and one of the most wealthy places on earth with a GDP per capita of A$135,479 (compared with the national average of A$74,605). In 2018-19, Western Australia exported A$147.1 billion worth of goods and imported A$34.1 billion, creating a trade surplus of A$112.95 billion. This is in contrast to the natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Bubbles
An economic bubble (also called a speculative bubble or a financial bubble) is a period when current asset prices greatly exceed their intrinsic valuation, being the valuation that the underlying long-term fundamentals justify. Bubbles can be caused by overly optimistic projections about the scale and sustainability of growth (e.g. dot-com bubble), and/or by the belief that intrinsic valuation is no longer relevant when making an investment (e.g. Tulip mania). They have appeared in most asset classes, including equities (e.g. Roaring Twenties), commodities (e.g. Uranium bubble), real estate (e.g. 2000s US housing bubble), and even esoteric assets (e.g. Cryptocurrency bubble). Bubbles usually form as a result of either excess liquidity in markets, and/or changed investor psychology. Large multi-asset bubbles (e.g. 1980s Japanese asset bubble and the 2020–21 Everything bubble), are attributed to central banking liquidity (e.g. overuse of the Fed put). In the early stages o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1969 In Australia
The following lists events that happened during 1969 in Australia. Incumbents *Monarch – Elizabeth II *Governor-General – Lord Casey (until 30 April), then Sir Paul Hasluck *Prime Minister – John Gorton **Deputy Prime Minister – John McEwen **Opposition Leader – Gough Whitlam * Chief Justice – Sir Garfield Barwick State and Territory Leaders *Premier of New South Wales – Robert Askin **Opposition Leader – Pat Hills *Premier of Queensland – Joh Bjelke-Petersen **Opposition Leader – Jack Houston *Premier of South Australia – Steele Hall **Opposition Leader – Don Dunstan *Premier of Tasmania – Eric Reece (until 26 May), then Angus Bethune **Opposition Leader – Angus Bethune (until 26 May), then Eric Reece *Premier of Victoria – Sir Henry Bolte **Opposition Leader – Clyde Holding *Premier of Western Australia – (Sir) David Brand **Opposition Leader – John Tonkin Governors and Administrators *Governor of New South Wales – Sir R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1960s Economic History
Year 196 ( CXCVI) was a leap year starting on Thursday (link will display the full calendar) of the Julian calendar. At the time, it was known as the Year of the Consulship of Dexter and Messalla (or, less frequently, year 949 ''Ab urbe condita''). The denomination 196 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Emperor Septimius Severus attempts to assassinate Clodius Albinus but fails, causing Albinus to retaliate militarily. * Emperor Septimius Severus captures and sacks Byzantium; the city is rebuilt and regains its previous prosperity. * In order to assure the support of the Roman legion in Germany on his march to Rome, Clodius Albinus is declared Augustus by his army while crossing Gaul. * Hadrian's wall in Britain is partially destroyed. China * First year of the '' Jian'an era of the Chinese Han Dynasty. * Emperor Xian of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Daily News (Perth)
The ''Daily News'', historically a successor of ''The Inquirer'' and ''The Inquirer and Commercial News'', was an afternoon daily English language newspaper published in Perth, Western Australia, from 1882 to 1990, though its origin is traceable from 1840. History One of the early newspapers of the Western Australian colony was ''The Inquirer'', established by Francis Lochee and William Tanner on 5 August 1840. Lochee became sole proprietor and editor in 1843 until May 1847 when he sold the operation to the paper's former compositor Edmund Stirling. In July 1855, ''The Inquirer'' merged with the recently established ''Commercial News and Shipping Gazette'', owned by Robert John Sholl, as ''The Inquirer & Commercial News''. It ran under the joint ownership of Stirling and Sholl. Sholl departed and, from April 1873, the paper was produced by Stirling and his three sons, trading as Stirling & Sons. Edmund Stirling retired five years later and his three sons took control as Stirl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. Size of the market The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020. , there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia. By country, the largest stock markets as of January 202 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulation
Regulation is the management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example: * in biology, gene regulation and metabolic regulation allow living organisms to adapt to their environment and maintain homeostasis; * in government, typically regulation means stipulations of the delegated legislation which is drafted by subject-matter experts to enforce primary legislation; * in business, industry self-regulation occurs through self-regulatory organizations and trade associations which allow industries to set and enforce rules with less government involvement; and, * in psychology, self-regulation theory is the study of how individuals regulate their thoughts and behaviors to reach goals. Social Regulation in the social, political, psychological, and economic domains can take many forms: legal restr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Rae
Peter Elliot Rae AO (born 24 September 1932, Launceston, Tasmania) is an Australian retired politician who represented the Liberal Party for the state of Tasmania in the Australian Senate. He served as a Senator from 1967 until his resignation in January 1986. He was subsequently elected to the division of Bass in the Tasmanian House of Assembly at the February 1986 election, serving until his defeat on 13 May 1989. Rae served as a Shadow Minister with portfolios that included Industry and Commerce, Finance, and Education and Science. Rae led a four-year investigation of the capital markets of Australia, particularly the Stock Exchanges. The "Rae Report" led to the establishment of what is now the Australian Securities and Investments Commission. He was also leader of several of the Australian delegations to European Parliament, the Council of Europe and NATO. Senator Rae worked to amend the Constitution Alteration (Senate Casual Vacancies) Bill 1977 to provide for direct el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WMC Resources
WMC Resources Limited was an Australian diversified mining company. History Western Mining Corporation (WMC) was formed in 1933, when William Robinson, the Australian-born London-based managing director of Broken Hill Associated Smelters, was able to interest several large London-based mining companies into forming syndicates to develop gold mines in Australia. WMC's strategy was to use the newly emerging sciences of mining geology and related geochemistry and geophysics to find new gold deposits. It was a company based on the idea that if they applied good science to exploration, they would be successful. WMC began operations in Western Australia in December 1933 when it commenced an extensive aerial survey of the Eastern Goldfields. It acquired its first profitable mining operation in June 1935 when it took an option over a new gold discovery at Cox's Find, 43 miles northwest of Laverton. WMC pioneered district-scale aerial photography in the 1930s, flying many areas in W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
