Gold finished the week at $1751, down a notch from last week’s $1771 but still well up on recent lows, having put in a high point of $1785 on Wednesday. US economic data offered little to cheer about, and the US treasury market continues to ring all manner of alarm bells. Despite that, US equity markets finished the week on a bit of a high – but for how long?

This graphic from Visual Capitalist is wild – it illustrated the depth of the fraud at crypto company FTX.

Apparently the 92 year old chain needs an emergency refinance this week. If it gets it it is a slow death in 2023. If not it is a quick death before Christmas and 16,000 P45s. I look at the red flags in this case over the past year and why I own no retail or no property stocks - there are lessons for both sectors here.  Then I ask if Dave Richards of Wandisco (WAND) has gone mad or simply stuck his own moral compass where the sun don't shine?

Here are five long reads that have nothing to do with shares. Put the kettle on, find a comfy chair. You have the time, don’t you? 
 

Honestly, considering the tech issues we’ve had for the past month, if this quiz appears on Sunday, give yourself an extra point. Also, a reader pointed out that last week’s question about self-driving cars talked about 202 legislation instead of 2022. He said since he can safely say there were no self driving cars in the year 202, he’s talking a point. I suppose that you can, too. But’s that’s it! The sweet shop is closed! Put the kettle on, put your score in the comments, and No Googling!

The most-read non-quiz non Tom article this week is a brand new voice, Steve Brown of Orcadian Energy, with  ‘EXCLUSIVE: North Sea Tigers: We are all up in arms’ at No 6 or No 11 including Bearcasts.

You find me making sweet chilli jam as Christmas is near. Photos later. For some companies such as nanosynth (NNN) and Versarien (VRS) time is thus running out. I look at that but start with Malcolm and his deviation from every year I have known him. Then I look at how crime does pay - Elizabeth Holmes and Theranos and, I fear,  FTX.  Then a few words on the budget, a statement of "managed decline."

Danielle DiMartino Booth, the CEO and Chief Strategist for Quill Intelligence, a research and analytics firm is a top banana, bang on the money on the subject of economics and crypto scams.

Technology managed services group AdEPT (ADT) has announced its results for its half-year ended 30^th September 2022 and that “whilst headwinds remain… the group has made good strategic progress and there remains a strong pipeline of opportunities”. This follows a half-year adjusted profit of £3 million and earnings per share of 12.1p on revenue slightly down to £34.2 million.

Centamin (CEY) has announced what it emphasises as “a significant step towards delivering on our commitment to consistently produce 500,000 ounces per annum from the Sukari Gold Mine”.

Hello, Share Twiddlers. We’re now in recession. So how can share-shifters like us negotiate these alligator-infested waters? To save being bitten and even make some dough along the way? 

A week ago I wrote on a half-year trading update from arts and crafts, stationery, toys and books retailer TheWorks (WRKS), reviewing how “resilient” is its performance?. That, of course, included noting its cash flow – with it emphasising that its “financial position remains strong with net cash of £11.0m at the period end” and also noting that it “fully reflects the build of stock prior to the peak trading season”. Now a “Correction: Half-Year Trading Update” announcement.

Another tax rise, it won’t go away if oil prices fall, it will last until 2028, the sky is falling, the oil and gas business has suffered yet another blow, it’s finished, our day in the sun has gone. Or maybe not. 

In March this year Everyman Media Group (EMAN) was “pleased to announce the appointment of Jeremy Summerfield to the board as Chief Financial Officer, on or before 1 July”. Towards the end of June though it announced that he “will no longer be joining” and promoted finance director who joined in early May, Will Worsdell. Now it has announced Executive Chairman Paul Wise is “to step down from the board to pursue other interests”. So what’s the overall situation here?

I start by referencing a podcast on public schools HERE and saying why I am at a funeral today. Gone are the days when the BSD at ShareSoc offered to help out those chaps at Globo (GBO) get the show back on the road. In new hands there is a suggestion of odd share dealings at N4 Pharma (N4P). I look at that and then the fundamental case against this stock. I also look at Parsley Box (MEAL) and CEO spoofing and at Eco Atlantic (ECO) and the dangers of punting on an E&P play ahead of a well.

About six weeks ago I chatted about the future prospects for Essentra (ESNT), which is shifting from being a diversified Filters, Packaging and Components operator to “a unique business model, combining manufacturing and distribution, operating in a highly fragmented market” in just the Components area. And its ambition is “to be the world’s leading responsible hassle-free supplier of essential industrial components” and “to double revenue and triple operating profit”. It all sounds good, but does it mean the stock is still a buy or not?

Fungai Ndoro who runs Aquis listed Oscillate (MUSH) is not a bad girl but any company that invests its shareholders cash in Dev Clever (DEV) warrants must – for reasons explained HERE – be run by someone who is smoking something.  Today Oscillate has announced an RTO which makes no sense at all.

Aeorema Communications (AEO) has announced results for its year ended 30^th June 2022, noting “record revenue and profits” and that it is confident in its strengthened market position with a pipeline of event activity that sees it “solidly into 2023”.

Oh dear, oh dear. My old friend the champagne socialist Fleet Street Legend Brian Basham is a director of Net Zero Infrastructure (NZI) and was so hopeful when it listed on the (sub) Standard list at 3p last September 15^th. I warned him... and now a year later almost two thirds of the money has gone….

We’ve recently noted we’re looking for depressed precious and related metals sector sentiment to turn as the production returns still being generated at current prices become clearer and US dollar strength and interest rate hikes expectations prospectively ease. Meanwhile, Anglo Asian Mining (AAZ) recently announced “production figures remain robust, with total production of 14,309 gold equivalent ounces in the quarter” and that it “is making excellent progress on the development of its future new mines”. We see significant further recovery potential, more than 33%, from a current 88p offer price.