They really ran the Vengold-cum-Itemus thing to the moon, Telfer and Guistra et Cie ... don't know where to find a chart now, but it was extreme, maybe a fifty-bagger from Vengold's low to the high of Itemus .... this was mainly the principle of selling the people what they wanted, though, nobody had any interest in gold mining at the time, ven's share of Lihir was not a bad asset but nobody cared in 1999 .... so they cashed in the gold, started up a cmgi/icge model, and the share ran bigtime into the bubble peak of spring '00 .... were there huge amounts of cash raised using vigourous promotion? - sure there were, but that's what punters were demanding .... a few of us around here got a five-bagger plus out of old Jordex during the same period, it went tech-VC too, ran up and crashed with the rest ..... so it goes .... i never knew much about Itemus, so could not speak to specific charges against its management [other than that it was, significantly, a Yorkton deal], but this is just my view of the overall situation at the time, it was a frenzy, madness of crowds thing, mostly, imho ...... cheers
'With frenzy like this, who needs enemas!' ... -g- |
