Word: spinifex
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Dates: during 1960-1969
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...boom was set off by a small but promising nickel find in the sand and spinifex of Western Australia. It attracted particular attention because of the worldwide nickel shortage, made worse this summer when Canadian nickel miners went on strike. A tiny Australian mining company called Poseidon started the speculative mania late in September. A drill on its 1,100-acre lease in desolate Windarra churned up traces of nickel ore. After the company announced assays of 3.5% nickel, its stock, which had sold earlier in the year for 50? a share, jumped to $35. "In sober fact...