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Latest News

AAU

Ariana – Q4 gold production numbers see FY target beaten by 12%. Now, what about that corporate action?

AIM-listed Turkish gold producer Ariana Resources (AAU) continues to follow the under-promise and over-deliver formula in some style. This morning saw Q4 production numbers from its joint venture Kiziltepe mine showing 7,318 ounces of gold produced to bring the total for the year to 27,985 ounces – against a forecast of just 25,000 ounces. And the good news did not stop there.

INCE
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Ince Group – now argues its private investor screwing “an unfortunate feature of the current market conditions”. Er!...

Legal and professional services group Ince (INCE) has updated that “it has successfully completed the Bookbuild which is now closed”, with CEO Adrian Biles stating “the funds raised will ensure that the group can continue to capitalise on market opportunities, including new lateral hires. The group has recently been joined by a number of very high calibre partners and fee earners and we are on track to deliver outstanding growth. I am very pleased that so many of our existing investors and some new institutional shareholders have supported this fundraise albeit at a significant discount to the market price of the company's shares, which is an unfortunate feature of the current market conditions”. Er!…

ITV

The march of Better Television could put a Gloss on ITV Shares

Hello, Share Players. It’s becoming clearer that we are becoming a nation of heavy goggle box watchers. We always have been, but it’s getting worse. This could be to do with the disproportionate number of older people, many of whom are no longer fit enough to leave the sofa for very long. There is also the benefit that television programmes are improving. Compare the average crime drama of a few years ago to the whizz bang, better written, better acted and more lavishly staged shows that we enjoy now...

MNO

Maestrano – “wins Advanced AI Rail Project in Japan”… but how significant?

“Maestrano wins Advanced AI Rail Project in Japan” announcement from Maestrano Group plc (MNO) – and the shares currently more than 20% higher in response, to 3.20p. Exciting news then?...

Bearcast
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Tom Winnifrith Bearcast: Now another CEO wants my critical voice silenced

In today's podcast I discuss Mark Slater, his pay and his views on the pay of others. I look at a row between Justin the Clown and Gary Newman. Suffice to say the Clown is acting like a total tit and is 100% wrong. I discuss Kier (KIE), something missing in the Sheikh on the Make scandal at Oracle Coalfields (ORCP) - not just brain cells in the case of those buying the shares, and at Plutus Powergen (PPG) and its free speech-denying boss.

QUIZ

Quiz plc – having been look forward to building upon ‘pleasing’ Black Friday week sales...

Previously writing on “occasion wear and dressy casual wear”-specialising Quiz plc (QUIZ), last month I concluded the overall update doesn’t provide great confidence… little to change my prior bearish view here. Now a “Christmas Trading Update”

INCE
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Ince Group – a private investor screwing… and it’s “pleased to announce”!

“The Ince Group plc (AIM: INCE), the international legal and professional services company, is pleased to announce a proposed placing by way of an accelerated bookbuild to raise a minimum of £12 million (before expenses)… In particular, the group wishes to continue with its programme of partner recruitment, especially in the overseas offices to bolster and enhance their existing practices. Opportunities to make lateral and team hires are coming to the group”. So growth capital then – and the shares last closing at 89p, so with 37,326,730 in issue, a £33.2 million market cap. Not too bad a fundraising price then?...

ORPH
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Open Orphan share tip of the year update, I don't want to appear too smug but....

At the time of the tip on January 1 the shares were 4.6p to buy. They are now 6.2p to sell.  Not bad but there is a stack more to come at Open Orphan (ORPH) and I expect to be able to sell my shares at 10p+ within months. The boss, Cathal Friel, has just recorded an interview (below) with the investment whores at Proactive which is not as explicit as I am about forecasts but makes some critical points.

ASHM
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Ashmore – emerging markets love discounted

I read somewhere in the last few days that the 2020s is going to be the 'decade of Asia' and you do not need an advanced degree in financial forecasting to work out why. Emerging markets investment is a common preference in the start of year strategic calls but, as I talked about here back in September, 'you buy (fund manager) Ashmore (ASHM) when emerging markets are out of favour...or you just buy emerging market assets for the very long haul'. Today's trading update from the company looks rather good…

RDT

Rosslyn Data Technologies – argues “a clear path” forward… but not shown in H1 trading & what if there’s not?

Although still down from above 7p as recently as November, shares in Rosslyn Data Technologies (RDT) are currently up approaching 25%, towards 6p, on the back of a “Half-year Report” and “Contract Win”

CEY
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Centamin – Endeavour deal off, ups dividend, shares down. BUY

Fully-listed Egyptian gold miner Centamin (CEY) - my tip of the year at 117p or so - has announced that the proposed possible offer from Canadian-listed Endeavour is off, after the two sides failed to reach agreement over valuation. Shares in Centamin are off by 8% on the news, to 117p, though we also now know that Centamin’s final dividend will be a tasty 6 US cents, above the previous stated target of at least 4 cents as I had suggested was on the cards. Added to the interim of 4 cents, that makes 10 cents – around 7.7p. At the current share price, that comes out at a yield of 6.58%...

Mark-Slater
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Top fund manager Mark Slater letter to all companies he's invested in - a major stand against executive greed

At last a top fund manager has stood up against executive greed. My friend Mark Slater has written to the boards of all companies where his funds are invested making it clear as to what he finds acceptable and that he will lead a vote against any unacceptable practises. Three cheers for Mark Slater. The letter is below.

BT

BT Shares Worth Hanging On To as Pension Burden starts to Decrease

Hello Share Munchers. One of my biggest disappointments in shareland has been the poor showing of BT (BT.A) shares. At one stage my holding was up by 100%. But that was in the heady days when BT started buying sports concessions and many folks thought viewers would pay through the nose for BT TV. There were a few critics who doubted that and they seem to have been proved right...

FLO

Flowtech Fluidpower – indeed it wasn’t set for “another year of solid progress”!

Previously writing on technical fluid power products company Flowtech Fluidpower (FLO), despite house broker finnCap looking for a full-year underlying pre-tax profit rising above £12 million, generating earnings per share of 16.5p – up from 2018’s 14.7p, I noted concern regarding the ability to deliver “another year of solid progress”. Now “Trading Update - for the year to 31 December 2019” commencing; “Market conditions in the second half of 2019, in particular the final quarter, have been challenging”. Uh oh…

AFN

The 10 most followed stocks on ADVFN – proof of where the morons roam

The only shock here is that Versarien (VRS) and Bidstack (BIDS) don’t make the list. But I kind of bet they are in the top 20. However the top 10 are in order:

MCB

McBride – trading update & having expected ‘Household’ revenues to be flat for the year…

Previously writing on cleaning and hygiene products manufacturer McBride (MCB), in July I concluded with the shares then down a further more than 10%, below 70p, that my stance remains bargepole / sell. The company “today provides a trading update for the six months ended 31 December 2019”. Uh oh – not ‘is pleased to provide’?...

MPH
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Former Woodford favourite Mereo Biopharma: they marched it up to the top of the hill……

……And they marched it down again. Woodford dog-pick extraordinaire, Aim- and Nasdaq- listed  Mereo Biopharma (AIM: MPH, Nasdaq: MREO) announced what appeared to be good news yesterday, sending the AIM-listed shares up from 33p as high as 45.5p before they fell back down to 38p at the close yesterday. Meanwhile the Nasdaq stock put on around 48% at the peak, before giving up almost the entire gain to close up just 7%. The news was not so good after all!...

Bearcast
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Tom Winnifrith Bearcast: its all about cash cash cash you fecking morons

In today's podcast I discuss four companies: Shareprophets Ltd which is not insolvent (whatever the morons say), Lekoil (LEK) which might be, Eden Research (EDEN) which could be and should be and Telit (TCM) which is not but is still grossly overvalued.

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