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BREAKING Scandal: The 16 other Innovate UK grants to Versarien exposed - what return has the taxpayer had on them? Nil!
As things stand, Versarien (VRS) has drawn down the first 40% of a £5 million low interest loan from taxpayer-funded Innovate UK despite demonstrably being ineligible for what is the body’s biggest ever loan - indeed admitting in its own annual report that it breaches the eligibility criteria. That is a scandal. But I can now show why this scandal is far worse and suggests that Innovate UK hands out cash to favoured companies on an utterly indiscriminate and un-monitored manner which no assessment of whether its funding delivers any return or benefits for taxpayers. What follows is shocking. A co-conspirator has raised the issue of the illegitimate loan with Innovate UK and has this response from a Matthew Oswin:
- By Tom Winnifrith, The Sheriff of AIM |
- 28 August 2020, 10:22 |
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Hummingbird Resources – “no current impact on Hummingbird's operations”, but bank our gains?...
Shares in Hummingbird Resources (HUM) have recovered some of previous gains having been hit by the military coup in Mali…
- By HotStockRockets |
- 28 August 2020, 10:20 |
Why the Dettol King's Share Price Should Keep Rising on the Virus Effect
Hello, Share Takers. I’m beginning to feel like a hygiene nut, but here’s another company that should do well out of fighting the virus. And this time it’s one of the bigger British companies. Reckitt Benckiser (RB.), the Dettol king, is working hard to maximise its involvement with sanitation. For example, it’s set up a special department for helping big clients, like hotels and transport terminals, work out ways of cleaning out the virus from their premises.
- By Malcolm Stacey |
- 28 August 2020, 09:15 |
DFS Furniture – Sofa Workshop, a bad case of ‘sofaeconomics’
DFS Furniture (DFS) has updated that “after careful consideration, we have decided to sell Sofa Workshop to Halo… Following the disposal, the group will benefit from the reduction in the cash costs of funding Sofa Workshop’s operating losses, elimination of the potential volatility in the profitability generated and it will allow the group to focus on executing the significant value creation opportunities in its core activities”…
- By Steve Moore |
- 27 August 2020, 17:02 |
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Tom Winnifrith Bearcast: A sincere and heartfelt apology to that brilliant analyst Mr David Lenigas
It is now only four days till my 7th wedding anniversary. Given my track record, I reckon that merits a round of applause. After you have finished the applause, I will apologise to Mr David Lenigas. If I have ever given the impression that he is a shameless ramper of worthless penny stocks, having considered his recent tweets on Wishbone Gold (WSBN) where my losses are now down to a mere £27,500, I would like to apologise. I now accept that Mr Lenigas provides quite brilliant and clear analysis of undervalued gold juniors and we should be profoundly grateful for his services. Elsewhere, I look at Avacta (AVCT), Novacyt (NCYT), Scancell (SCLP), Rurelec (RUR), and Amigo (AMGO).
- By Tom Winnifrith |
- 27 August 2020, 17:01 |
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DISGRACEFUL SHOCKER: Tern – Debunking a gross deception over new CEO for investee InVMA
You have to hand it to AIM-listed jam-tomorrow, sometime, never investment company Tern (TERN) – or, rather, its PR firm Newgate Communications – for today’s RNS which has polished a turd so well it looks like a multi-million pound diamond. But the deception is utterly shocking.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 27 August 2020, 14:02 |
M&C Saatchi – argues ‘trading profitably’, but further results delay...
Marketing company M&C Saatchi (SAA) has updated commencing that it is “pleased to announce that the group has continued to trade well and profitably in the opening few weeks of the second half of 2020. New business remains strong” – and the shares are currently at 64.4p, more than 5.5% higher…
- By Steve Moore |
- 27 August 2020, 12:58 |
URU Metals – Ramptastic pre-placing RNS: you have been warned!
AIM-listed but BVI-registered URU Metals (URU), which as Cynical Bear put it, seems more interested in drilling shareholders’ pockets than the ground, has announced a ramptastic pre-placing RNS this morning. Of course, we all knew it was coming as by my maths this John Zorbas POS is still technically insolvent and the clue is hidden in today’s announcement.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 27 August 2020, 11:27 |
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How lucky are you feeling? The Rolls-Royce edition
In the last fifty days I have written about aerospace name Rolls-Royce (RR.) twice already before today. The first was to ask the question ‘when the money raising was coming?’ and the second was to appraise whether a selling activist shareholder was bonkers or rational. So finally – as previewed in both articles – what did the formal first half numbers say?…
- By Chris Bailey |
- 27 August 2020, 10:42 |
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Ariana – Cracking Q2 numbers from Kiziltepe - 10p share price within months?
AIM-listed Turkish gold-producer Ariana Resources (AAU) has released Q2 results from its first Turkish gold mine at Kiziltepe this morning, and the numbers look excellent. Of course, the real news I am awaiting is progress on the proposed corporate action to bring in Ozaltin and sell off chunks of its Turkish assets for $30 million, but this morning’s news does no harm to the proposition.
- By Nigel Somerville |
- 27 August 2020, 10:01 |
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Inspirit Energy – Let's solve a problem (that does not exist)
I note the comments from my colleagues on this site – Nigel Somerville most recently yesterday and Tom Winnifrith in bearcast yesterday on Inspirit Energy (INSP). I concur with the general thrust of the views expressed – crap management and sod all progress over many years. I also note the rebel shareholder and his background. I wish him well. But I suspect the whole idea is bonkers based on technicalities and politics…
- By Peter Brailey |
- 27 August 2020, 09:34 |
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Nostrum Oil and Gas – here we go again!
I have commented on main market listed Nostrum Oil and Gas (NOG) back in October 2019 and it was a core holding in my Vomit list at the start of the year. I have been expecting a financial restructuring, most likely in the form of a debt for equity deal for some time. Yesterday’s RNS confirming the company is in default on its bond interest payments has come as no surprise. What has amused me is the line-up of advisers on each side. This is a re-run of the Afren refinancing in 2015 with much the same runners and riders!…
- By Peter Brailey |
- 27 August 2020, 09:30 |
Hand-Washing is the Name of the Game and this Mighty Minnow Looks Set to Grow on it
Hello, Share Trudgers. I’ve recently been commending Creightons (CRL) for its exposure to the burgeoning hand sanitiser market. That share seems to have stalled for the time being, as the company has delayed publishing its numbers. So let’s have a look at another outfit in this promising market…
- By Malcolm Stacey |
- 27 August 2020, 09:10 |
Jaywing – “well positioned to benefit as economic activity recovers”?
Marketing and consulting company specialising in data science, Jaywing (JWNG) has updated including that it “is pleased to announce that it has appointed Caroline Ackroyd as Chief Financial Officer with effect from 7th September” and “has also continued to win new business and the April to June quarter has been profitable at EBITDA level” – and the shares have currently responded lower to 2.65p…
- By Steve Moore |
- 26 August 2020, 17:46 |
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Tom Winnifrith Bearcast: Nilesh Jagathia is not only a thief but a limpet too
My main podcast today was a history lesson for the loathsome BBC HERE. In terms of bearcast, I am not so inspired today. I promise I shall be more on fire tomorrow but do comment on why Harry Adams of Kefi Gold & Copper (KEFI) is share dealing like a dervish. I also look at the rebel at Inspirit (INSP) and explain why I think he is doomed to fail and why anyone buying the shares needs their head examined.
- By Tom Winnifrith |
- 26 August 2020, 17:45 |
Vianet – ahead of its forecasts… but what does that mean financially?
“Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things platform, today provides an update on trading and the group’s current status regarding COVID-19” – and the shares have currently responded up to 96.5p…
- By Steve Moore |
- 26 August 2020, 16:41 |
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Trouble at t’ Mill brewing in Inspirit's boiler room as 6.5% holder launches blistering attack
AIM-listed boiler-room Inspirit Energy (INSP) has been a long-term non-performer on the Casino ever since the reversal of its technology (having failed as a private company) was reversed into Kleenair Systems in 2013. Almost anyone who has had the misfortune of investing here will be nursing very heavy losses, and the company seems to have little or nothing to show for the last 7 years as an AIM Casino chip. But now the company is under attack from 6.5% holder Chris Heminway, who launched a scathing attack late on Monday via the RNS system.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 26 August 2020, 14:49 |
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Jubilee Metals – ore supply and processing agreement continues expansion...
Jubilee Metals (JLP) has announced an ore supply and processing agreement which “not only significantly extends the life of the existing PGM resource but also offers the potential for Jubilee to significantly expand its Inyoni Operations”…
- By Tom Winnifrith & Steve Moore |
- 26 August 2020, 14:37 |
Tern – Pathetic Q&A "News": Still a SELL
AIM-listed jam-tomorrow, some day, never investment company Tern (TERN) issued a very odd release this morning through the RNS system via the EQS Corporate News service, an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only/non-regulatory news releases such as marketing messages, corporate and product information into the public domain. We are further told that Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on EQS Corporate News. In other words, it is the equivalent of an RNS Reach – and was not even signed off by Tern’s current Nomad, Allenby.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 26 August 2020, 13:50 |
Video: We are in the Early Stages of the Largest Bull Market in the History of Precious Metals
Analyst Nick Giambruno explains which assets are “hard assets” and so will fly when fiat is, as now, being debauched. There are key characteristics that make gold the best money, and other assets like silver and bitcoin share many of those features. Bitcoin fits this definition because it’s scarce, and its supply growth is similar to that of gold (gradually declining).
- By Tom Winnifrith |
- 26 August 2020, 13:10 |