Monday 20 February 2017 The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares


Tom Winnifrith late Bearcast: Blame Bill frigging Gates, bloody Walsall, Bodie, Doyle & Cowley

By Tom Winnifrith | Monday 18 April 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


This bearcast and your newsletter are late for a range of reasons including my sickness; taking the Mrs to start a 3 AM journey to fill impressionable young minds in Finland with lefty nonsense; dealing with Bill Bloody Gates; morons from the Walsall Shit Hole and also Bodie, Doyle & Cowley, The Professionals. In the podcast itself I cover Watchstone (WTG), Rosslyn Data (RDT), Fitbug (FITB), Rose Petroleum (ROSE), SeaEnergy (SEA), UK Oil & Gas (UKOG) and in great detail LGO Energy (LGO). I urge you to read the piece today on SP Angel. Read it carefully my friends!


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Comments

7 comments

  1. Sounds like you had a few snifters before recording that ( purely medicinal I am sure ) making it even more hilarious than usual . Feeling a bit better are we ? ……….. deffo was man flu then . Proper flue test is :- a £500 note blows past your window but you cant be arsed to get off the couch to retrieve it, prefering instead to watch 2010 year “Loose women” boxed set . Always worries me a bit when you say your “ going to bed with Oakley the 3 legged obese cat “ although as Oakley is not the office cat I suppose that he must be safe on the grounds of “ differing rules engagement “ for treasured family pets .

    get well soon ( but not so soon you can lambast LGO yet again )


  2. Daniel Victor

    Non- cash purchase of Watchstone assets by a private company ? Sounds very odd indeed.No wonder the Watchstone board considered it to be ‘unworkable’.


  3. Rec0very Stock

    Tom,

    The fever is clearly causing delirium. Firstly Keras is not an oiler it is a mining stock that delivered its first load of gold ore to the milling plant a couple of weeks ago and will see its first revenues from that in a few weeks. The Walsall conspiracy theories where stocks are manipulated in the bar after a presentation to about 10 people are also rather far fetched.

    KRS shares rerated as it went from being nowhere to being the only Aussie Gold producer on AIM in 4 months – 3 Bagger from New Year. The company took advantage of the rerating to get the capital needed to advance more lucrative projects and did the usual ramp ahead of the placing to get as good a price as possible. The shares were already beginning a retrace before the presentation – most shares that 3 bag do retrace, especially when warrants have been exercised at a third of the prevailing price. No doubt there was also some forward selling of the placing shares which contributed to the decline, but Dave Reeves did not go to the bar after the presentation and say by the way we are in the process of doing a discounted placing.

  4. RS

    The highest trade Friday pre Walsall was 1.8p, a week later placing at 1.1p. Are you a) a shareholder b) sure what Mr Reeves said to all the ten folks in Walsall. All of them? How? Why would Dave go to Walsall to present to 10 people?

    t


  5. Stuart Kaplan

    “…the only Aussie Gold producer on AIM…”

    Immediate red flag. Why not list on ASX? If you are the CEO, it has an immediate positive by product. You need never have to face going to bloody Walsall ever again.

    “…the usual ramp ahead of the placing…”

    You see, that’s why ‘the world’s most successful growth market’ will never be taken seriously other than by Bulletin Board Morons. That is slam dunk market abuse. Everyone knows it, but nobody who should be regulating to ensure a more orderly, fairer, more efficient market, cares enough to act. Trading patterns should be looked into. A few regular abusers should have the book thrown at them. It would stop it in its tracks.

    I don’t bother ‘investing’ down this stagnant end of the capitalist gene pool any more. True, I haven’t had a share multibag in years, but where I do trade I’m fairly sure the market is pretty level, rather than loaded – stacked – against me.


  6. Rec0very Stock

    Tom,

    Yes I am a significant shareholder and have been for a long time. I missed the AGM this year but have been to the previous 2.

    The highest price paid on Fri was indeed 1.8p, but it closed down on the previous days opening price. The retrace had already started before the presentation on Sat.

    If you want to do a live investor presentation you go to where one is being organised. KRS was not the only company presenting. For some reason LSE sharetalk arrange presentations in bizarre places like Walsall – you will have to ask them why, but a lot of things they do do not make a lot of logical sense. However it does not matter how many people turn up because they videoed it and the company put a link to it on its website and RNSed to say it had. I reckon there were 10 people who were interested in KRS, given the number of different people who asked questions and Dave knew all their names. However a lot more people watched the presentation thanks to the video which is hosted on LSE so maybe the fewer people who attend, the more people who watch and LSE gets more clicks, who knows.

    Dave was very cagy about a lot of things that could be material info not in the public domain – the Nomad was in the room. So he hardly retired to the bar and said psst we are doing a placing.

    Stuart the company listed on AIM several years ago as Ferrex with Iron Ore and Manganese exploration assets in Gabon, Togo and South Africa (bongo bongo land). With the bottom falling out of the price of both and the government in Togo dragging its heels on granting a licence the company was going nowhere, but still burning cash. They did a strategic review and, thanks to the connections of Dave Reeves, got some tribute gold mines in Oz. They have brought the first of these on stream ahead of schedule and are now the only Aussie Gold producer on AIM. The share price had gone from under 0.5p to over 1.5p and if cashflow targets are met has a lot further to go. The placing made entire sense, it is just a shame that being at the bottom end of AIM the only way to do it was the same way a load of other truly Turkish companies do it. The difference is the money is not going to keep the lights on – the cashflow they already have in the pipe line does that and more. The money goes to where it should go on CAPEX to bring 2 underground mines with much higher grades back into production.

    All this is explained in the presentation and the Q&A which you can find here:

    http://www.lsesharetalk.com/share-news/dave-reeves-keras-resources-plc-krs/

    Nowhere does he give away any material info that is not in the public domain, like we are doing a placing right now at a significant discount. however the rest of the story is true and it is worth listening to. It is not worth buying right now though as the placing shares are still being flipped into the market.


  7. Rec0very Stock

    A few other interesting facts about KRS.

    The board owns over 25% not from freebies but by putting in their own money at much higher prices than today.

    Rather than dilute when the share price was in the shitter, in order to fund the Aussie gold the directors put up a large part of the loan.

    KRS gets A$350 per Oz gross profit and will produce 15KOz in the year to 31 Mar 17. Going underground now they have the CAPEX means they produce 40KOz in the year to 31 Mar 18. Not bad for a company with a market cap of £14.5M. They still have the other assets and the Togo Manganese could in time be throwing off as much cash as the Gold.

    Shame Hotstock rockets never spotted it before it 3 bagged. It is still well over 2 bag now and once the placing shares have been flipped it will be on the rise again, especially if the predictions about PoG made on this site are correct.


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