Shares in mining giant Rio Tinto (RIO) have performed well for me ever since I realised back in October here that ‘investors should focus on China not cultural heritage’.  Actually if truth is told, it is more than just China because demand for the iron ore, copper and aluminium exporter is centred on a broader changing world.  Or as Rio Tinto put it on a chart in its second quarter numbers a few days ago, ‘we produce materials essentially for a low-carbon future’.  

There are times when a share continues to defy gravity for far longer than most people would expect, and that certainly looks to be the case with Mongolian oil explorer Petro Matad (MATD).

Petro Matad (MATD) has been one of the worst performing AIM oil companies in recent years, taking into account both its operations and share price.