And so today, Circle Oil (COP) has admitted what anyone with half a brain cell could have figured, that it is officially toast. The question is which of the drowning in debt oil mid caps or large E&Ps will be next to fess up? There is an RNS from Gulf Keystone (GKP) today saying its bondhoders have given it another 11 days but could it be overtaken by XCite (XEL), whose shares are sliding as the clock ticks? Other oilcos in breach of loans include Trinity Exploration (TRIN) and LGO Energy (LGO) while the yield on IGAS debt suggests it is in the merde. So who will be next to admit it's toast, to use either the word "administration" or the phrase "little or no value for shareholders". Voting deadline is midnight tonight.
Those dreaded phrases "strategic review" and "breach of banking covenant" should have warned you that Circle Oil (COP) was toast and I warned you often enough in bearcasts. But it today Circle has admitted that the game is up yet one broker does not get it and has published the worst note in history or at least since Cenkos & SP Angel told folks to reject the 3p bid for Petroceltic (PCI)
On 22 April 2016 fully listed Goldenport Holdings (GPRT) announced its intention to delist from the London Stock Exchange, stating that the last day of dealings was expected to be 23 May 2016 – Monday of next week. But, as discussed previously, following the disposal of its shipping fleet (in a series of related party deals, all approved by shareholders) it seems clear that there will be nothing left for shareholders at all.
AIM-listed homewares group encompassing the Portmeirion, Spode, Royal Worcester and Pimpernel brands, Portmeirion (PMP) concludes an AGM update that “we expect profit before tax to be in line with market expectations for the full year”. The shares have though responded currently approaching 9% lower, at 1155p. Hmmm…
Though not actually British, Michael O'Leary, the Ryanair (RYA) boss, is now an official ambassador for Project Fear telling us all that we must vote to stay in the EU or else. But back in 2011 he went to Brussels to tell the truth about what he actually thought of the EU, a body he described on that day as "The Evil Empire". Here captured on camera is what the pompous little prick really thinks
Hello Share Followers. You probably know that despite, some opposition from my colleagues, I favour buying shares in property development companies. This is the next best thing to buying property of your own. And given that demand is high and supply is short, I think bricks and mortars are still a good place to put your cash.
Shares in Worthington (WRN) have remaoined suspended for an eternity as we await details of an RTO by bankrupt Danish listed Nuna Minerals post its own refinancing by Green;land Mining, a company without a bank account. While we wait, Worthington has still not published its accounts for the year to September 30 2014 (not a typo). But now surely it is all over, the UKLA must simp;ly boot Worthington off the market ahead of its administration.
Having fallen back towards 3p following a couple of RNS announcements earlier this week, shares in Imaginatik (IMTK) are currently on the rise again. With this coming after the shares had slumped to sub 2p by the start of April before soaring beyond 5p by the commencement of May, the following reviews the goings-on here…
I don't feel like writing today. This is what i want to be doing. But ahead of that I start by clarifying what I think of Matt Lofgran of Nostra Terra (NTOG). Then I look at what happened to Plethora (PLE) and that explains in part why shares in Port Erin (PEBI) have tanked. Then I touch on Thomas Cook (TCG) and prepare for ouzo o'clock when Environmental Recycling (ENRT) goes bust as I explained yesterday. Following that piece the shares are the biggest fallers today. Finally I have a warning for shareholders in African Potash (AFPO). Incoming! That is when I can be arsed.
Newmark Security (NWT) provided the market with a year-end trading update last night. This highly investable company didn’t disappoint, with plenty of colour around its plans for 2017.
Bit of a Super Thursday in terms of the magnitude of results but the one that really caught my attention was Thomas Cook (TCG). 19%+ share price falls – at the time of writing - tend to do this. Of course the reason for this plunge off the diving board is the profits woopsie slipped in a few paragraphs into today’s first half update. And the reason? In a word: ‘Turkey’.
Venture Life (VLG) has a deal with Optibiotix (OPTI) so its management must be good chaps! Here is the head honcho in action at UK Investor Show. Enjoy.
After-hours (natch) yesterday AIM-listed biotech ValiRx (VAL) released an RNS announcing the drawdown of the second £500,000 tranche (of up to eight) of its convertible death spiral funding package with Bracknor. We were also told that half of it had already been converted, with reference made to the terms set out in an RNS of 21 March 2016. But the numbers simply don’t add up – oh, and the company had now admitted that associated warrants will have to be approved by shareholders.
Alliance Pharma (APH) has, relatively, recently completed a transformational acquisition. I know that Nigel Wray remains a big fan as does Mark Slater. Sensible value investors should thus find the presentation by John Dawson of interest
Biotech outfit Summitt (SUMM) may have some interesting IP but it is pretty early stage, years away from generating a cent in revenues, other than the odd grant, and it is munching up cash at an alarming rate. Results came out the other day for the year to January 31 2016 and they really do beg the question: when's the placing? Perhaps that is why the shares have slumped from c150p at the start of the year to just 112p today?
Previously on Ubisense Group (UBI), I reviewed a November profit warning and noted an idea where the “further cost actions” can start – see HERE. That was with the shares then at 66p. With them now at 29p, an announcement from the company begins with “that it is to expand the remit of its chairman, Peter Harverson, to become executive chairman with immediate effect”. Hmmm, why’s that then?
Hello Share Scrimpers. Being a sensible sort of chap I do not have any life insurance. There is no point in an investment in my death, as I will get no benefit from it. True, my family would, but who cares about that? But my death fascinates me a bit. As a Christian I expect to carry on regardless in another life, but that is a different consideration. I’m getting round to looking at investment in Dignity (DTY) a share I’ve avoided researching in the past, probably out of a fear of dying as I approach my three score years and ten.
I start with more news on frigana cutting. I am a sweaty wreck after a day of mega slashing as I "take it out" on various folks in the City. Then I cover Asian Citrus (ACHL), Jiasen (JSI) and Taihua (TAIH) before I move onto Johnny Hon and R4E (R4E) then the scams and scum at Golden Saint Resources (GSR) - why won't PR fecking genius Steffi tell us about her shares? Then it is onto doomed Outsourcery (OUT) and then, as we expect more news tonight on Uramin, I ask a few questions about Port Erin (PEBI) another vehicle of my friend Jim Mellon. Oh and there is bad news for a company trying hard to bring jobs and wealth to the grim Northern welfare safaris, DX Group (DX). Moral of the story, let them rot, stick to doing business in the hard working South.
Highlands Natural Resources (HNR) has enjoyed a great run recently but now looks way over-priced to me and I would expect a return to reality in the near future.
“Since the last trading update… structural changes in the markets in which Crossrider (CROS) operates have negatively impacted on the outlook for future trading”. Uh oh…
The April edition of the UK Investor Show Magazine is live featuring Metal Tiger, BMR, Harley Investments, Action Hotels and much more.
This week's contest is graciously sponsored by African Potash, AIM, NEX, Chris Cleverly vehicle that is bound to hit the stratosphere.*
The A-Grade A'holes at Walbrook PR who charge Optibiotix (OPTI) thousands of quid a month for "news management" probably thought putting out two announcements on one day was part of a clever strategy. Whatever. If Optibiotix wants to save a few quid we have a suggestion....
Given that the company is now producing gold, I’ve been somewhat surprised by the lacklustre response that the market has given Ariana Resources (AAU) since that news came.
Fraud Cloudtag (CTAG) may have been booted off the AIM Casino but in the few months before insolvency the comedy continues. The company has held an AGM the highlight of which was news that the 2 NEDS Tony Reeves and Jerry Bereika have resigned. Lyin' Amit Ben Haim says that the a search for new directors with the requisite skills to match the Company’s future requirements is underway. Hmmm what would that skillset be?
In this video from the storming success that was the 2017 UK Investor Show, Tom Winnifrith interviews Mark Slater. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
Concepta (CPT) wants to know why its shares are nor racing away although having tipped this at an 11p offer we are, at 16.5p, well up.? Simple. It announced last autumn that it was about to sell its MyLotus kits in China and since then it has appointed a country manager and huffed and puffed but there are no sign of those sales. And against that background after calendar 2016 results the shares are just 16.5p mid. But before you sell hang on a second...the shares are actually a stonking buy if yoiu can get them at 16p or underand here is why.
Naughty naughty naughty. On Tuesday night Ve Interactive, the daft money guzzling new media start up into which Concha (CHA) unwisely invested on a £1 billion valuation went into administration and was at once bought ( one assumes for peanuts) by management and certain existing shareholders. Since Concha has not a lot of cash it is hard to see it being involved. But where is the statement? AIM Rules say something about timely disclosure yet we have had 24 hours with no RNS. Nope make that 36 hours...
Caption this very accurate and not at all cropped photo of some nice Tories in the comments below. The deadline is midnight tonight.
Hello Share Monkeys. Quite a few of my more moribund penny shares are in revival mode at the mo. Which is unusual. Because when the Footsie rises, investors are more likely to get income from more reliable outlets. Why risk the huge volatility of the cheaps when you can make money investing in companies with big cash piles and ever growing profits, i.e: most of the Footsie members?
Floated at 33p by Lagos Securities, or Cenkos as it prefers to be known, on the back of a prospectus that forgot to mention critical damaging information, Rosslyn Data (RDT) has been a serial disappointer and was clearly set to run out of cash this year, despite numerous protestations from its discredited management that this was not the case. And so today, the oldest trick in the book - a bailout placing dressed up as an acquisition. The price of the bailout, just 4.5p.
The world's best known resource investors Sprott says that its investment thesis for gold is significantly long-term in scope.It explains clearly why recent gains will continue and that means you all need an exposure to the yellow metal. Over to Sprott:
Kefi Minerals (KEFI) has announced another box has been ticked as it moves towards constructing the Tulu Kapi gold mine in Ethiopia. It has finally agreed with the Government plans to resettle the folks who live around the mine away from operations. And with that done it states "The objective for the Government of Ethiopia and KEFI is for construction to commence in H2-17."
Collagen Solutions (COS) has announced growth “driven by an increase in the number of customers, higher volumes from key customers and an increase in new development agreements”, sparking the shares higher…
Amryt Pharma (AMYT) has announced that the first patient has now been enrolled in its phase three trial of AP101, a potential treatment for the rare, genetic skin disorder, Epidermolysis Bullosa - a market worth £1 billion.
London main-market listed, gold miner in Russia Petropavlovsk (POG) has announced results for the 2016 calendar year, emphasising a return to profitability and a refinancing of bank debt - enabling it not to have to divest part of the value in its core organic growth development project, the POX Hub…
We have long pointed out what a dog Green Dragon (GDG) is. Its failure to answer the questions in the bloody dossier HERE was the biggest red flag. Now the City's top oil analyst, Zac "the Knife" Phillips of SP Angel has gone on the attack, calling for regime change and warning that the company's assets could end up with its creditors, i.e. the equity could be worthless. The Knife writes:
Together Robert Sutherland Smith and Tom Winnifrith have now been working in finance for 71 years - the last ten or so together. Tom wishes to stress that RSS accounts for most of that, the great value investor starting his City career at the Unilever Pension Fund the year before Tom was born. In this book they outline 71 tricks of the trade for making money from shares.
Get the first ShareProphets Pocket Guide ebook, EIS - Buying shares with numerous tax breaks. Want to cut your income tax bill, get loss relief if your AIM listed shares go down, pay no CGT, avoid IHT - EIS could be the way and this book explains how.
Most investment books seem to be large enough to keep the front door open and while some contain gems it is hard to find them amid the verbiage. The aim here is to produce a short guide which simply cuts to the chase. I hope that it will provide food for thought for everyone from beginner to expert but whoever you are it should be quick and easy to read and digest.
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