Breaking: Central Bank of Ireland calling in witnesses in Conroy Gold Enquiry this week as ESM quote surrendered
It is bad enough that Conroy Gold & Natural Resources (CGNR) faces a potentially massive stock overhang as it tries to arrange a placing to pay the bills but it is now facing an upping of the regulatory ante. Perhaps that is why Conroy has today announced it is surrendering its joint quote on the ESM and being listed on AIM. Or maybe that is just to save cash?
- By Tom Winnifrith |
- 10 October 2017, 06:46 |
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Breaking: AllAgents.co.uk sets up crowdfunding site to fight for free speech against fascist lawyers letters from PurpleBricks - I've donated, will you?
Leading independent estate agents review website AllAgents.co.uk is taking on Purplebricks (PURP) after it tried to stop it publishing genuine but negative reviews, as we revealed HERE. AllAgents has now launched a £50,000 crowdfunding appeal. I have donated - will you?
- By Tom Winnifrith, The Sheriff of AIM |
- 10 October 2017, 06:14 |
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Tom Winnifrith Bearcast - Savannah Resources you are so fecking transparent
Some companies are so transparent. I look at the RNS from Savannah Resources (SAV), do the maths and predict a placing within weeks. I then crow about one I called earlier, Applied Graphene Materials (AGM). Then it is onto Interquest (ITQ) which is back on the AIM casino thanks to Nomad Allenby, a firm that I take to task for being morally bankrupt. I look at Johnston Press (JPR) which is nothing to do with Luke Johnson who is also mentioned. I then look at Advanced Oncotherapy (AVO) and i3 Energy (i3E) as well as the dog Haydale (HAYD)
- By Tom Winnifrith |
- 10 October 2017, 06:01 |
Strat Aero - as GM looms will a refinancing be possible at all?
On 17th October long suffering shareholders in Strat Aero (AERO) will be asked to approve a 1 for 10 subdivision of their shares in order to get a refinancing away. But the maths now look so bleak that one asks if the fat lady should pitch up to the GM as she could well be called on to sing very soon indeed. As a reminder...
- By Tom Winnifrith, The Sheriff of AIM |
- 10 October 2017, 04:32 |
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Totally: Oh – so the CFO did leave then…..but wasted a chunk of money first!
Unbelievably, just as the welts on my back are just about healing from my Totally (TLY) related self- birching a few months ago (HERE), it transpires that the CFO, Don “Two Jobs” Baladasan is leaving after all, although he did find time to spend £11m before he left on a business that appears to be in a bit of bother – perfect!
- By Cynical Bear |
- 10 October 2017, 04:31 |
FreeAgent – “pleased to report” trading statement, so why are the shares more than 8% lower?
FreeAgent Holdings (FREE), a provider of cloud-based accounting software and mobile applications designed specifically for UK micro-businesses, “is pleased to report continued strong revenue growth with an evolving channel mix”. The shares have currently responded more than 8% lower, to 83p. Hmmm…
- By Steve Moore |
- 10 October 2017, 04:25 |
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Applied Graphene - the proven liars undertake £10 million fund raise at just 36p - bear call at 120p 4 weeks ago vindicated
On September 15 2017 I explained why the folks who run Applied Graphene Materials (AGM) were slam dunk proven liars and predicted a bailout placing. Hey ho. Vindication did not take long. Today we are told that there is a book build on a placing to raise £9 million + at a minimum of just 36p with a £1 million open offer also planned. The shares have crashed by 23p to just 40p bid. Another win for the Sheriff.
- By Tom Winnifrith, The Sheriff of AIM |
- 10 October 2017, 03:24 |
Berkeley Energia – short-term sentiment obscuring long-term value?
Recent results from Berkeley Energia (BKY) emphasised it’s “focussed on developing Europe's largest uranium project, the Salamanca mine” and a “US$120 million sovereign wealth fund strategic investment to bring Salamanca into production”. The end August announcement of the latter helped the shares return above 50p, but they have currently slid back to 47p…
- By Steve Moore |
- 10 October 2017, 02:55 |
Conroy Gold : Just how little cash is left: potential 28% stock overhang and its placing ahoy (again)
I forgot to ask one big question at the Conroy Gold & Natural Resources (CGNR) GM on Friday - when is the next placing? But before we come to that - and the answer must be soon - there is a little matter of possibly the biggest stock overhang on AIM. The TR1's are flying thick and fast.
- By Tom Winnifrith |
- 10 October 2017, 02:39 |
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When is stealing $2.4 million not a sackable offence? When you are chairman of an AIM company of course!
Well it is now official. It is perfectly acceptable for the chairman of an AIM listed company to take $2.4 million of a company's cash without permission. You and I would call taking someone else's (that is to say shareholder's) money theft or stealing. But on AIM it is simply an unauthorised loan. Pas de probleme mes amis!
- By Tom Winnifrith, The Sheriff of AIM |
- 10 October 2017, 01:29 |
Digital Barriers – Video business sale to enable focus on “rapid, organic and profitable growth of Thruvision”. Really?
Previously writing on Digital Barriers (DGB), I concluded bearishly despite a “Framework Contract and Trading Update” announcement attempting to emphasise positives. Now there is an announcement of a conditionally agreed sale of its video business, noting “uncertain nature and timing” of growth and “to continue as it is would stretch the resources available to the existing group within its current structure”. Hmmm, not a great combination…
- By Steve Moore |
- 10 October 2017, 01:19 |
On You Marks? Ready to Spark? Perhaps Not if you Heed a German Bank
Hello, Share Puzzlers. What do you think might be the results of Marks & Spencer (MKS) for the second quarter of its year? If you are a long-time holder, you will not be very excited. I first bought this share at least 20 years ago. It was 300p a throw, quite a lot of money, then. Yet despite a huge devaluation of the pound and inflation the share is still only 349p today.
- By Malcolm Stacey |
- 10 October 2017, 01:02 |
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Tom Winnifrith Bearcast - what is the difference between Warren Buffett and Neil "nomates" Woodford?
Answers on a postcard. But for starters, one Hathaway, One had a way but lost it. I start with a detailed look at the Woodford Patient Capital Trust (WPCT) then run some numbers by you on LPE's and Purplebricks (PURP). I mention UK Oil & Gas (UKOG) en passant, Jersey Oil & Gas (JOG), Columbus Energy (CERP), Mirada (MIRA) and finally Conroy Gold & Natural Resources (CGNR)
- By Tom Winnifrith |
- 9 October 2017, 08:10 |
DX Group – bailout fundraising & new management ahoy
Towards the end of last month I noted on DX Group (DX.) forget the planned investment, the repayment of HSBC clearly means it has been, and remains, a scramble to prevent cash crunch ahoy. There’s now a “£24m Fundraising, CEO Appointment & Board Changes” announcement…
- By Steve Moore |
- 9 October 2017, 07:55 |
City PR bigwig Julian Bosdet's drink driving battle - his day in court postponed
There was I thinking that I had missed the day in court of Abchurch PR supremo Julian Bosdet as he battled charges that he was driving his Range Rover back to his country pile while under the influence. Oh no...
- By Tom Winnifrith |
- 9 October 2017, 05:04 |
Strong and Stable to Weak and Wobbly!
It’s the start of the fourth quarter and October, always the most volatile month of the year, has started with shock and surprise. Just a few years ago it would have been inconceivable Spain’s vibrant democracy might stumble towards the verge of dismemberment as it is now. With the S&P 500 recently breaking above 2500, there seems to be nothing to dampen the bullish exuberance. The recent run, which has largely been focused on areas in the market with the most sensitivity to tax cuts, has exploded over the last two weeks to record highs. That explosion has also lead to a surge in the Market Greed/Fear Gauge which comprises different measures of market complacency and bullishness and whilst the “Dumb Money” is continuing to pile into markets the “Smart Money” is willing to sell positions to them.
- By David Scott |
- 9 October 2017, 04:00 |
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Cowboys and Injuns- A UK Oil & Gas groupie fully rebutted by cynical expert
Injuneer is a man claiming to be a drilling engineer but whose "analysis" of Horse Hill and UK Oil & Gas (UKOG) suggests otherwise and demonstrates once again that a (very) little knowledge is a dangerous thing. His "critique" of the analysis of Professor David Smythe is today rebutted by the good Prof in a way that shows again how utterly overvalued UK Oil & Gas (UKOG) shares are today at just under 7p. The Prof writes:
- By Tom Winnifrith |
- 9 October 2017, 02:15 |
Zac The Knife - a waspish sting for Magnolia dog
Lifestyle company Magnolia Petroleum (MAGP) has started the ramp ahead of its next bailout placing with news of a share consolidation. It may fool some fools but not the City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel who is at his waspish best and opines:
- By Tom Winnifrith |
- 9 October 2017, 02:14 |
Buy Obtala at 17.75p, target 37.5p - new 60 page report
Okay Beaufort is house broker to Obtala (OBT) and so is biased. As we own the shares so am I! But this 60 page report is detailed and so worth a read. Beaufort writes:
- By Tom Winnifrith |
- 9 October 2017, 02:06 |
Saffron Energy: The ramp is on already – it’s all in the name
I’ve been on holiday for a week in Italy (funnily enough) and am just catching up on a few interesting pieces of news and thought I would comment on the Saffron Energy (SRON) deal with Sound Energy (SOU) that was announced last week. Makes a lot of sense in many ways but I am disappointed by the scale of the James Parsons-led ramp that has started already supported in all the usual places.
- By Cynical Bear |
- 9 October 2017, 01:58 |