With money practically gushing from every hole dug in Western Australia, even the suggestion of a possibility of the act of mining can be enough to lure investors to part with their dough.

Well, there’s a new sheriff in town: independent analyst Peter Strachan , who has set his sights on miners who latch onto whatever trend will allow them to raise “just enough new equity to keep petrol in the managing director’s Porsche". Exhibit A, says Perth-based Strachan, is Korab Resources . In the mining company equivalent of the dance of 1000 veils, Korab has variously revealed itself as involved in gold, phosphate, uranium, cobalt, and – swish – a rare-earths company.