Leigh Creek Energy... Now there's a name I didn't expect to pop up on LeoFinance.
I have a funny story about this mob.
They used to be called Marathon Resources and were a uranium miner sitting on the 3rd largest deposit in the world somewhere in the South Australian desert.
I had just opened a CommSec account and they looked like my ticket to riches so I got straight in.
Pretty happy with my purchase, I come into work the next day and the big news item is the Fukushima disaster... Yep, I bought shares in a fucking uranium miner the day before the biggest nuclear disaster since fucking Chernobyl.
Obviously prices dropped and to an explorer like Marathon, political will all but dried up. To the point that the state premier at the time, Mike Rann, made it his last act in government to ban uranium mining in the entire region, all but rendering Marathon worthless.
I'm still burning ;)
Posted Using LeoFinance Beta
Oh man. That timing couldn’t have been worse... not that you had any hope of predicting that.
And that uranium ban was the worst. What a terrible decision. The SA government has been rubbish at encouraging mining. And we have a massive amount of resources in the state...
Posted Using LeoFinance Beta