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Latest News

CGS
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Castings plc – a value and income Buy

Shares in Castings plc (CGS) have recently recovered to above 350p after positive trading and results statements towards the end of last year. However, they remain well down on levels achieved in prior years despite a positive outlook and look to be a value and income Buy at current levels.
ZYT
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Zytronic – AGM trading update, still a value recovery Buy?

Touch sensors company Zytronic (ZYT) has announced that the average monthly order intake is at levels similar to the second half of the prior year and that “business development and the opportunities pipeline continue to progress positively”. So what of its current valuation?
COPL
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Canadian Overseas Petroleum – deliberately confusing release as death spiral shares issued at just 7.3p

I cannot remember the last time that I saw such a duplicitous dishonest company, this has to be one of the easiest shorts out there at the moment!” says Evil Banksta of Canadian Overseas Petroleum (COPL). He is not alone, Lucian Miers has also called in from the grim North today, outraged as to how the FCA allows Canadian to publish the sort of misleading piffle it has today.
GoldfishShark

Video: The Fed is Creating a Perfect Setup for New Gold Investors

Keith Weiner runs gold investment firm Gold Standard Institute USA so he is talking his own book.
PURP
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Told y’all Purplebricks – another lack of profits warning and the dreaded words “strategic review”

Oh dear. Oh dear. The words “strategic review” are always bad news. What they mean is “we are screwed will anybody buy us.” But let’s start with a lack of profits warning from Purplebricks (PURP) and, as ever, it is what it does not say that should worry the muppets who still own the shares.
BOOM
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Audioboom: almost certainly another Robert Bonnier spoof

The release below, from Eliot & Luther purports to show the Asia based advisory firm speaking for folks owning more than 10% of Audioboom (BOOM) who now want a seat on the board. Oddly Audioboom has not responded with an RNS. Perhaps because this is another spoof from disgraced ramper & market abuser Robert Bonnier.
SGRO
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I was correctly bearish about SEGRO shares a year ago. What do I think now?

A year ago, I was negative about the property investment and development company SEGRO (SGRO), since when its share price has fallen from just over 1200p to 835p this morning. So, what are my updated views about the FTSE 100 name?

TPX
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TPXimpact – having admitted it’s ‘engaged with its bankers’ as debt covenants breach looms, now management LTIP and retention awards (natch)!

I wrote on TPXimpact (TPX) at the end of last month; I having stated ‘good luck’ on even its previously-downgraded outlook, now another trading warning (and worse!). That “worse” was it having to ‘actively engage with its bankers’ with it “unlikely to satisfy its debt covenants at 31 March 2023” and I concluded that despite a slump to a below 30p share price still avoid / sell. The shares last closed at 24.25p and now… a “LTIP, PDMR Dealings & Retention Award”-titled announcement!

CKT

Checkit – “ahead of market expectations”… but how creditable is this?

‘Deskless workforce’ technology company Checkit (CKT) has issued a trading update emphasising “Annual Recurring Revenue increased by 28% to £11.5m, vs. consensus market expectations of £10.8m (+20%). Net cash at 31 January 2023 of £15.6m vs. consensus market expectations of £15.2m… we expect the positive sales momentum to continue”. What then of a share price of 30p, down from around 45p a year ago?
Bearcast
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Tom Winnifrith Bearcast: the importance of bears

I am on the mend but very slowly and still in pain so a shorter than normal bearcast covering Home Reit (HOME), Tintra (TNT - target price 0p - and Caracal Gold (GCAT) also a zero despite today's deceptive RNS with Andrew Monk's VSA Capital's name at the bottom. Now back to bed.
TNT
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BREAKING EXPOSE Tintra – minimal development spend on IT in period to 31 July 2022: this makes no sense at all!

We continue the series of exposes which any sensible regulator would have acted on already. Luckily for Tintra (TNT) it is listed on the AIM sewer so the Oxymorons at AIM Regulation appear happy to do nothing. Tintra 3.0 Limited accounts for the period ended 31 May 2022 have now been filed at Companies House and were stated as being signed by Abdul Sajid, the Tintra CFO, on 3 February 2023. As described in extracts from Tintra RNS announcements of 24 November 2021 which announced the joint venture, Tintra 3.0 is a crucial part of Tintra Plc’s future business plan:
HOME
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BREAKING: Fraser Perring of Viceroy threatens defamation proceedings as Home Reit ‘fesses up & considers dodgy sale

It is ouzo time for Fraser Perring of Viceroy and for Boatman Capital. The bears look to be wholly vindicated as Home REIT (HOME) has fessed up to a collapsing business model and has put its rag bag assets up for sale. Indeed it has had one offer but that looks to be related party and shareholders should not expect to get much. This is a scandal and exactly why bear raiders are so needed. Shares in this company were almost 80p when Fraser published his dossier last November. The shares are now suspended at 38p and shareholders will be lucky to get pennies.
CNA
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Thank you, Centrica (and I was silly not to buy your shares in late 2021)

Whilst the world of Scottish politics dominated yesterday’s news, it will not be the lead story today as Centrica (CNA) has announced a big FY22 profit number and that has made a lot of people very grumpy. And there is no doubt that £3.2 billion of “upstream” gas, nuclear, storage and other energy actions akin to a Shell (SHEL) or a BP (BP.) is a good amount of money (and will be heavily taxed). Meanwhile, its British Gas, Dyno and Hive part of the business - which I am sure many of you use in your own home - made £94 million, a tiny return from a company with many millions of home users. But apparently Centrica has gone horribly wrong. I even saw somebody said today that it should be renationalised. Of course, this is all utter madness.
BOO
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Boohoo – industrial scale management greed or a spoof? Either one is ( again) the unacceptable face of capitalism

There is no evidence at all that management incentive plans actually incentivise management to work even harder or take even better decisions that reward shareholders. They are just a free one way bet for the fat cats. If you want a case study look at the 2019 and 2020 plans for Boohoo (BOO) bosses. Had the shares roofed it they would have coined it in without risking a penny. As it happens, despite all that “incentivisation” the shares, 408p back in 2020, have slumped to 49p today. So management need even more incentivisation right?
CHLL
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Chill Brands: Mad yes, Tasty no – pre bailout placing spoof

The last time we had a figure for the, rapidly falling, cash position at Chill Brands (CHLL) was 30 September when cash was £1.8 million after a £2.2 million loss in the six months prior. There were one offs in that period but you can do the maths. By the March 31 year end the cash will largely be gone and so yet another placing is on the way. So today a prize spoof.
CREO
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Creo Medical – proposed equity raise “to maintain momentum in the business”, well I suppose being able to continue trading is required for that!

“Medical device company focused on the emerging field of surgical endoscopy” Creo Medical (CREO) states that it “is pleased to announce a proposed fundraising by way of an accelerated bookbuild to raise a minimum of £25.0 million (net of expenses) via a conditional placing and subscription of new ordinary shares”. The share price has currently responded more than 18% lower, so how ‘pleased’ should the company be?
JWNG

Jaywing – argues “the pipeline of new business remains encouraging”, but what about its conversion?

‘Data science-powered’ marketing agency Jaywing (JWNG) commences a trading update today with that it “has continued to successfully implement cost saving measures” and “the pipeline of new business remains encouraging”. So what of a current 5.375p share price, down more than 20%?
SHG
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Shanta Gold – Singida construction on schedule for first production next month, Buy

Shanta Gold (SHG) has announced continued construction progress at the Singida project in Tanzania, with the mine, which is set to see the company become a 100,000 ounces per annum gold producer, on schedule for first production next month.
PIER
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Brighton Pier Group – trading statement, economic pressures biting?

Previously writing on Brighton Palace pier, Lightwater Valley adventure park, mini-golf and bars business Brighton Pier Group (PIER) in September I noted strong full-year results, but economic pressures now to bite?. So what of a latest trading statement?

Bearcast
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Tom Winnifrith Bearcast: Dicked around by the NHS, in real pain and going back to bed

Gosh I hate the incompetence of the overpaid poltroons at the NHS. I explain my latest setback and why I am going back to bed and am in pain. I apologise for a brief bearcast, normal service will, I hope, resume Thursday
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