Ptarmigan Property Ltd (PPL) - A Property Flyer?

The Ptarmigan is that white bird that's so hard to spot in the Arctic

Equally quiet and hitherto almost undetected is Ptarmigan Property Limited - based in sunny Guernsey - which started trading on AIM in May 2005 It says it wants to "offer investors indirect access to the property trading market, including land development. Its objective is to provide Shareholders with a high level of capital appreciation."

If you missed the original float -and the shares keep on climbing out of your reach you could try the Equity Warrants PPLW - which only started trading on AIM on February 7th 2006 These entitle you to buy PPL shares at 125p (the shares are currently at, or over that, as I write). They don't expire until 31 December 2007.

There's also a raft of deals in the pipeline which could get Ptarmigan flying
even higher.