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UPDATED FOLLOWING MENACING LAWYERS LETTER: Yourgene at 13p worth 20p: Stifel initiates coverage
Finally the research powerhouse that is Stifel has initiated its coverage of its corporate client Yourgene (YGEN) with a detailed note which is below. A senior officer at Yourgene supplied the note to me. In the past on every occassion this has happened. On this occassion Stifel has demanded that I withdraw the note and pay it £750 or it will throw the book at me. I have taken the note down. If it wants the £750 it can ask Yourgene directly. What is the point, I wonder, of hiring a big name broker to produce research and then trying to reduce the number of folks who read that research? Whatever.
- By Tom Winnifrith |
- 10 July 2019, 11:40 |
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Redx Pharma – great news, but…..
AIM-listed Redx Pharma (REDX) has released great news in that it has sold one of its products for $3.5 million upfront plus up to $203 million in milestone and royalty payments, plus a cut of any sales. That’s a lot of cash – or it may be, if all the hurdles are passed successfully – but of course, those hurdles may not be quite so easy to clear, and it certainly won’t be any time soon. The shares are up heavily by 124% at 14p on the news, but I just wonder if the market is suffering from over-enthusiasm.
- By Nigel Somerville, the Deputy Sheriff of AIM |
- 10 July 2019, 11:02 |
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No surprises at PageGroup or Superdry for worse...or for worse
Lots of interesting numbers out today but let me concentrate on two. First, recruiter PageGroup (PAGE) has a share price shocker (down 14% at the time of writing) after apparently enjoying 'a record quarter'…
- By Chris Bailey |
- 10 July 2019, 10:40 |
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#BoycottWetherspoon not working, heroic Tim Martin weighs in on Brexit again
The silly campaign by whining remoaners to boycott JD Wetherspoon (JDW) is not working. Ha! For the 10 weeks to 7 July 2019 like-for-like sales increased by 6.9% and total sales increased by 6.6%. Year-to-date like-for-like sales have increased by 6.7% and total sales increased by 7.4%.. In bringing us this good news, chairman Tim Martin is again our hero of the day for some sane words on Brexit Tired of Project Fear from the BBC, the Quislings at the CBI, The Guardian, the pink comic that is the FT and our own Malcolm Stacey? Over to Tim who writes:
- By Tom Winnifrith |
- 10 July 2019, 09:12 |
Redemption Watch: Neil Woodford’s Income Focus Fund heads further south as Kier nose-dives
Kier Group (KIE) fell a further 10% yesterday. Given that it was the fifth largest holding in Neil Woodford’s Income Focus Fund (WIFF) – despite offering no income – at the end of May, that’s not a good start and according to Morningstar the fund dropped 0.8% in terms of NAV per share.
- By Nigel Somerville |
- 10 July 2019, 09:12 |
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AVZ Minerals: The Proceeds of Corruption? Boatman Capital rides again
Boatman Capital has been the scourge of Babcock (BAB) but now shows it is not a one trick pony. Its next target is AVZ Minerals. It is Oz listed but the report is a fascinating insight into the seedy world of mining. We thus bring it to you in full below.
- By Tom Winnifrith |
- 10 July 2019, 09:11 |
Vela Technologies – further blockchain exposure
Vela Technologies (VELA) has noted an announcement by BlockchainK2 Corp (TSXV - BITK) in which it currently has 272,000 shares; a 1.81% stake…
- By HotStockRockets |
- 10 July 2019, 09:11 |
Can Bovis the Builder Fix It For Shareholders? Well, Yes - It Could
Hello, Share Campers. When supply falls short of demand, or even likely demand, the happy supplier should be able to keep prices high and still make a tasty profit. That should go without saying. But those who criticise my current support for housebuilders rarely take into consideration this basic rule of o-level economics...
- By Malcolm Stacey |
- 10 July 2019, 09:10 |
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Kier – Statement Needed ASAP, shares tumbling and uninvestable amid silence
Yesterday shares in Kier (KIE) fell by 8%. Today they are off by 14% at just 83.5p. There are three possible explanations:
- By Tom Winnifrith |
- 9 July 2019, 15:02 |
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Renold – an indicated “intentional mis-statement of the financial reports” missed for years. Uh oh…
Previously writing on industrial chains and related power transmission products supplier Renold (RNO), I questioned last year another profit warning, house broker right to ‘remain positive’?. Now a “Postponement of Annual General Meeting” announcement. Sounds ominous…
- By Steve Moore |
- 9 July 2019, 13:53 |
OptiBiotix – deal momentum continues: now Japan
OptiBiotix (OPTI) has announced another license agreement to we loyal shareholders. This one is for the use of its ProBiotix’s LPLDL ingredient in cardiovascular food supplements in Japan and is set to mean a first LPLDL finished product placement on the Japanese market…
- By Tom Winnifrith & Steve Moore |
- 9 July 2019, 13:45 |
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Trafalgar Property: Oh Dear, £230k down the swannee, when’s the placing (or worse)?
As discussed HERE AIM-listed Trafalgar Property (TRAF) today confirmed that it has lost its £230,000 deposit on a site in Camberley after discussions with its banks and other lending institutions failed to deliver the mullah to complete the transaction. What on earth was it doing exchanging contracts for this (and handing over £230,000) when it didn’t have the cash to complete?
- By Nigel Somerville |
- 9 July 2019, 10:51 |
Union Jack Oil at 0.21p worth 0.55p?
Caveat 1: SP Angel which produced this note is house broker to Union Jack Oil (UJO) so is biased. Caveat 2: Zac Phillips no longer works at SP Angel and the new analyst is not fit to lick Zac's boots. Caveat 3: Chris Oil owns stacks of these shares and will sell into any spike while urging others to buy like the dirty little spiv he is. Having said all iof that I can't fault the logic of this detailed note.
- By Tom Winnifrith |
- 9 July 2019, 10:41 |
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Tom Winnifrith Bearcast: If you are in America go buy a hammer at Home Depot for me today
#BoycottHomeDepot is trending on twitter in the US. If you are in the land of the free I urge you to do the reverse. In fact go buy an extra hammer for me today. Then I look at Thomas Cook (TCG), Sound Energy (SOU), Eve Sleep (EVE), the woes of my old friend Jim Mellon's SalvaRx (SALV), Union Jack Oil (UJO) and, in detail, at FinnCap (FCAP) whose results are out today. Mea culpa on Eve, it is actually worse...
- By Tom Winnifrith |
- 9 July 2019, 10:39 |
Redemption Watch: Neil Woodford’s Income Focus Fund down as Kier falls again
This morning’s figures from Morningstar show that Neil Woodford’s Income Focus Fund has headed south again, and notched up another new low point yesterday. NAV per unit dropped 0.59% which should have dropped the fund from Friday’s figure of £291.6 million to £289.9 million, but redemptions nibbled away at that.
- By Nigel Somerville |
- 9 July 2019, 09:32 |
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Expose: TrakM8 needs to restate results announced yesterday thanks to PWC Screw-up
The critical point about yesterday’s full year numbers from TrakM8 (TRAK) is that they show a company with zero earnings visibility, burning cash and with a drowning in debt balance sheet which is thinner than an Ethiopian super model when it comes to tangible net asset backing. I do not wish to sound like an accosting pedant and geek but there is another issue: auditors PWC Southampton have screwed up and the numbers need to be corrected and re-issued. Let me explain:
- By Tom Winnifrith, The Sheriff of AIM |
- 9 July 2019, 09:30 |
SDX Energy– Morocco is about Exploration drills - thanks for the confirmation!
I reviewed SDX Energy (SDX) Morocco and Egypt operations last Friday. I was not expecting the company to respond so quickly with updated information, but I’m sure it’s just a coincidence.
- By Peter Brailey |
- 9 July 2019, 09:29 |
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Are the wheels about to come off Neil Woodford’s Proton Partners valuation?
A stack of TR-1 RNSs yesterday afternoon detailed the transfer of stocks by Neil Woodford, who was sacked by the Omnis Income and Growth fund, to its new manager, Jupiter. Among them was one from Proton Partners (NEX:PPI), which Neil offered a funding commitment to in order to see its joke NEX-listing complete and now can claim an instant profit every time the company calls on him for more money. But there could be a fly in the ointment….
- By Nigel Somerville |
- 9 July 2019, 09:29 |
MediaZest – “an update on current trading”… Er, what about revenue, profit, cash flow etc. then?
Previously writing on MediaZest (MDZ), I noted there looks little to argue with that with its latest rubbish, financial position and track record, still a prime bargepole stock. Now though “the AIM quoted creative audio-visual company, is pleased to provide shareholders with an update on current trading”…
- By Steve Moore |
- 9 July 2019, 09:20 |
As the Oil Price Spouts, Take a Peek at this Expert Operator in Australia and Vietnam
Hello Share Twiddlers. While I still have my biggest investment in giant oilers, I've got a sneaking suspicion that I ought to put more cash into a few tiddlers. This is not an easy thing for me to say, as my past small oil plays have nearly always ended in tears including a few dallies with the Falkland Islands...
- By Malcolm Stacey |
- 9 July 2019, 09:15 |