Excerpt
He switched over to the local news: a serious accident on the road
down to the Second Narrows Bridge. He had better take Lions Gate
Bridge this morning. The pileup on the approach to Second Narrows
would make it impossible for traffic to resume for at least two hours,
according to the news anchor.
The phone rang. It was Herb on the other end. After the briefest
of greetings, he brought up today’s buy order. He told him that a man
he knew, someone who seemed to have good connections in Europe
and other places, had assured him this was a good one, Platinum
Properties Inc, to play with for the next few months. Eteo listened to
Herbert Swanson attentively, but when he expressed some skepticism,
Herb said he would pass by the office around ten to talk about
it. He smiled. Herb always had a link to someone with information,
and in the Vancouver Stock Exchange in those days, with its mining
fliers and dubious promoters, information was of great value. Even
if the information was often questionable at best, decisions were
based on it, and today’s bet that Herb had placed on this new company,
Platinum Properties, wasn’t any different from many others. For
years, Herb had worked his way around each and every regulation in
order to survive the debacle called investing in V.S.E. listed companies.
In most cases, they lacked anything of substance, yet they could
fly high for a few days, even a few months, before sinking into nothingness
or simply going out of fashion. Sometimes they were still at
the reorganizing stage, a lengthy process that provided a second
chance for companies that had been unsuccessful in proving the
value of their first mining asset and raising funds on that basis. This
involved a reverse split of their shares, or consolidation, in other
words, issuing new shares to raise new capital. It was usually an opportunity
to turn their focus to a new asset, sometimes even to
change course and concentrate on a new line of business. When a
company was in that reorganizing stage, it wasn’t unusual for it to
take a good twelve months to achieve its goal, and investors who
didn’t like to wait that long rarely invested in such a company.
Manolis Aligizakis 