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NWG
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Must NatWest boss Alison Rose now resign over the Farage affair at Coutts

I discussed the scandal of the closing of Nigel Farage’s bank account by Coutts on political grounds in a podcast yesterday HERE. Like the heroic Peter Tatchell who has opined on this matter, I really disagree with Farage on many things, but I argue that what Coutts has done is scandalous. But this scandal now looks like it is ratchetting up and very well could cost Dame Alison Rose, the boss of NatWest (NWG) which owns Coutts, her job. Here’s why.
Bearcast
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Tom Winnifrith Bearcast: I hope that Kerim Sener does NOT listen to Nigel Somerville

First, thank you for kind words on my in-laws and yesterday's burglary. Then it is onto Ariana Resources (AAU), Optibiotix (OPTI) and Skinbiotherapeutics (SBTX), Tintra (TNT), Canadian Overseas Petroleum (COPL) and Argo Blockchain (ARB).
PPP
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PennPetro - Lenigas twitter ramp when is next placing for this insolvent POS? And where are the shareholders yachts?

Without mentioning that he is the chairman, shameless David Lenigas is again ramping shares in technically insolvent Pennpetro (PPP) again as you can see below. You might care to note from where Lenigas is tweeting.
ARB
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Argo Blockchain – as predicted discounted placing, clearly far less raised than had been hoped

In the first half of 2022 Argo Blockchain (ARB) burned cash despite the bitcoin price averaging $37,000. With the bitcoin price higher than it was but nowhere near $37,000 let alone a level that would ensure cash neutrality, the company’s shares were ramped up to 17p on the basis of some low grade pumping. After the pump…
WJG
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Watkin Jones – from less than two months ago H2 to “be materially stronger” to now there may not be much improvement and worse!…

Less than two months ago with half-year ended 31st March 2023 results, company describing itself as “the UK's leading developer and manager of residential for rent” Watkin Jones (WJG) stated that it “expected that H2-23 will be materially stronger than H1-23, with forward sales adding to performance from in-build developments”. So good news from a trading update today then? Er, the shares are currently down more than 37% to around 50p in response!
Pound-Sterling
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Financial market fun in Blighty!

Corporate news flow is much more centred on the European and American stock markets for me today. As for Blighty, I was not surprised to see the UK inflation rate drop to its lowest in a year at 7.9% for the 12 months to June, according to the Office for National Statistics. And no surprise then to see UK shares go up and gilt yields go down.
BOOM
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Audioboom Piss Poor Interims: Gary Newman should have listened to the boss part 77

Oh dear. How is stale bull Gary Newman faring this morning? Audioboom (BOOM) about which I warned the complete-angler has served up half calendar year numbers which are, at every level, piss poor and the shares have slumped to just 180p. Please, young Gary, don’t go bottom fishing, for there is worse to come!
WAND
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The Questions that Wandisco refuses to answer as it tries to sweep the £2 million + David Richards scandal under the carpet

Following my three exposes yesterday I put a number of questions to Wandisco (WAND) via its PR firm FTI Consulting. I have also reported Dave Richards to the Charity Commission with whom I had a fruitful conversation. Next up will be the taxman but that is a bit complicated.
AAU
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Ariana – Superb News From Tavsan As Mine Construction Recommences

AIM-listed Ariana Resources (AAU) announced this morning that following Court action in Turkey, it has received the all-clear to resume construction at its second Gold mine in Turkey – Tavsan – and its team has remobilised already. This is great news for loyal shareholders such as myself.
VCT

In the Deep Blue Sea or High in the Sky, this Engineering Powerhouse could Have a Golden Future

Hello Share Sweepers. Occasionally, I come across an engineering manufacturer that isn’t as dull as ditchwater. One such outfit is Victrex (VCT). It helps replace metal thingies in the harshest of places. Whether it’s 10,000 feet below sea level or 40,000 feet above. From -196°C to +260°C. Inside the gearbox of a car or the human body. It helps clients overcome complex design and engineering challenges.
VRS
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BREAKING: Versarien - Neill Ricketts finally leaves the board, 4 months after “resigning”?

Versarien (VRS) has today, after hours natch, announced that it cant find an external chap to act as CEO as it heads towards insolvency so has promoted Stephen Hodge from CTO to CEO to steer the Titanic for its last few yards. It has also announced that Neill Ricketts has finally left the board. as a reminder:
OSI
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Osirium Technologies – reckons it “look forward to the second half with confidence”. It’s first got to be able to reach the year-end!

Describing itself as “a leading vendor of cloud-based cybersecurity and IT automation software”, Osirium Technologies (OSI) commences a trading update with that it “is pleased to report that Osirium's annual recurring revenue has increased by 34% over the 12 months to 30 June 2023 to £2.16 million (30 June 2022 ARR: £1.61 million) and by 20% since the start of the year”. Hmmm – “a leading vendor of cloud-based cybersecurity and IT automation software”? And, with also revenue being vanity, how ‘pleasing’ really is it?
Bearcast
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Tom Winnifrith Bearcast: what a wicked world we live in, I despair

The phone call that was today's person from Porlock was my mother-in-law who had just come home from an appointment to find smashed windows in her house just across the river from here. My 93 year old father-in-law, deaf as a post, had slept while burglars stole everything of value throughout the house. What a world we live in. From that I move onto the scandals of Dave Richards and Wandisco (WAND), Canadian Overseas Petroleum (COPL), Miriad (MIRI), Bidstack (BIDS), Supply@ME Capital (SYME) and Oxford Nanopore (ONT) and dual US listings.
MIRI
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Mirriad Advertising – trading update states “pleased” with revenue increase, it shouldn’t be…

Describing itself as a “leading in-content advertising company”, Mirriad Advertising (MIRI) has issued a trading update stating that it “is pleased that the company has shown an increase in overall H1 revenue compared to 2022” and that “overall, the board is encouraged by the forward sales pipeline in the US”. So what of a current share price response down by 13% to 1.175p?
PTRO
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Pelatro – notes overdue receivables but “expects a positive resolution”. Is there to be though?…

Previously writing on customer engagement software company Pelatro (PTRO), last month with the shares at 8p I noted concern added to by a swing to even adjusted operating loss and the balance sheet. Now a “trading update” announcement commencing that “Pelatro announces that it has recently been informed by a key customer, owing $550K, that it will no longer meet a previously agreed payment deadline of July…”. Uh oh!

OCDO
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Ocado finally starts to mention cash flow and related more than EBITDA!

Regular readers will know that I am not the biggest Ocado (OCDO) shares fan. Yes, a couple of times a year we get one of the company’s electric vehicles to deliver its (and Marks & Spencer (MKS)) food and related products…but it is only a couple of times a year as the J Sainsbury (SBRY) equivalent is almost as good and certainly a lot cheaper. Why then, after a shocking share price performance in 2021 and 2022, are Ocado shares now slightly up year-to-date, with a current this morning 10%+ share price rise?
Boom
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Photo Article: go woke go broke: Bud Light and Waterstones (again)

I was in Chester the other day, at the grittier end of town to pick up my lawnmower. The kids and I decided we needed to do a mini shop so went to the local Asda, a rather down at heel place. The highlight was my two-year-old Jaya insisting she wanted to get the 2 litres of milk and carry it. She promptly dropped it and the plastic container broke spreading milk everywhere. The staff were most understanding. Elsewhere I could not help notice what you see below.
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