Hello, Share Tweakers. The Iron Man contest, which involves people going to the giddy limit in cycling, running and swimming was called off in our Welsh town because of covid. But it still didn’t stop an army of serious-looking cyclists descending on us this month to go through the motions, anyway. And there’s no getting away from it that pedal-pushing is becoming more popular. Cycle tracks are appearing all over our towns and cities as commuters and shoppers move away from smelly old petrol.

I wrote about WH Smith (SMWH) back here  at the start of the month, concluding that I would continue to avoid the stock but look forward to itsnext set of numbers in November to help justify whether both its Travel and High Street businesses were set to make any progress or not. 

As folks close to the fraud Umuthi (UHS) start to play the man not the ball I set the record straight. I have agonised about the ethics of this as a journalist but feel I have no choice and then to MyHealthChecked (MHC) where we shareholders have to accept that facts changed today.

It will not be different this time

I sometimes feel I am being mean and nasty about Powerhouse Energy (PHE) which must have some good aspects on the investment case somewhere, but it does have an incredible ability to serve up questionable aspects of the investment case with regularity. The latest amusement is the communications from Hydrogen Utopia International (HUI) – the new start up licensee backed by Howard White, the Powerhouse major shareholder. Tom Winnifrith called out the HUI statement issued on 5^th September which the company responded to on 6^th September here. HUI has been at it again putting questionable information in the public domain and I rather think a Powerhouse statement is required.

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? 
 

It has been a long year since the correction in Gold and Gold stocks set in. Back in August 2020, the yellow metal peaked at $2063, AIM-listed Ariana Resources (AAU) at 6.4p, fully-listed Centamin (CEY) at 232p, Golden Prospect at 72.5p and my minnow explorer, Standard-Listed Panther Metals (PALM) reached a then peak of 13.75. Now their prices at $1787, 4.7p (plus a dividend of 0.35p on the way), 91.4p (plus two dividends totalling 7 US cents), 48.5p and 12.875p. Ouch!

I had hoped that Gold might push through resistance at $1830-50 last week, but it did not – and the price slipped more-or-less all week to close at $1787 per oz, down from $1828 a week ago. The apparent resistance tells me that there is some way to go before there is enough market strength to push on higher to $1900 and beyond.

Sit back, get your tea and post your scores in the comments for bouquets and brickbats. No prizes and no Googling!

The top non-Tom article this week is EXPOSE: Powerhouse Energy – What is its tech all about? This really is all hot air, smoke & mirrors by Peter Brailey at number 5 or number 10 if you include the Bearcast.

So far you have met the fraudster Queen, the other South Africans on the board who are mired in this fraud and an enabler, broker Pello and its boss Andy Frangos who are also deeply implicated in  the Umuthi (UHS) bezzle and the patsy UK NED Colin Bloom. Then we established that nobody actually knows how many shares there are in issue. Now for a real killer. Does Umuthi actually have a  business? 

I start with a few reflections on that dreadful day 20 years ago. Then look at Oxford Nanopore and Central Copper and the advantages as an investor of having been around the block a few times as greed right now is all around us. Finaly a few more words on Umuthi (UHS) after today’s shocking exposes and what the FCA needs to do asap about this scandal.

Thanks to a reader who points out that Colim Bloom, the patsy English NED at the fraud Umuthi (UHS), is a leading and well connected Tory as well as a devout Christian. For £3,000 a month he seems happy to remain a director afraid of no comeback. Perhaps that is because, like the fraudster Chris Cleverly who amazingly enough is linked into this story too, he is well connected to leading Tories.  Or maybe, like Julie “lingerie on expenses” Meyer (Praise be the Lord), he is doing God’s work?  Here is a news release from our beloved Government. Pass the sick bag.

Central Copper was meant to list on AIM in early August, it even issued an RNS to that effect. But the revelation of the shocking track record of tax evasion and shareholder value destruction by the same management team just two years ago at their prior car crash, HERE, put a spanner in the works.

So far you have met the fraudster Queen, the other South Africans on the board who are mired in  this fraud and an enabler, broker Pello and its boss Andy Frangos who are also deeply implicated in  the Umuthi (UHS) bezzle and the patsy NED Colin Bloom. Now for a simple question? How many  shares were in issue when this company floated?

Events have moved apace since this appeared.These shares are not a buy as explained HERE. MyHealthchecked (MHC)  has flagged up what we loyal shareholders can all expect to hear about over the next month or so.  First up on September 29 when we will get the interim results to June 30 and a Q3 trading update.

So far you have met the fraudster Queen, the other South Africans on the board who are mired in this fraud and an enabler, broker Pello and its boss Andy Frangos who are also deeply implicated in the Umuthi (UHS) bezzle. Now to the useful idiot, the patsy Brit on the board. A man in denial….for  three grand a month, the man grinning at you below,Mr Colin Bloom. 

Hello, Share Monkeys. In this weekend’s lesson I look at the possibilities when finding yourself with a share where the price is rising rapidly. Should we sell, hold or buy more? It could depend on the qualities or failings of the individual share. But more likely it’s the momentum, timing and your own personality which are the more important considerations.

Describing itself as an “oil and gas exploration and production company with a focus on Nigeria and West Africa” despite having admitted principal subsidiary, Lekoil Nigeria, “has stated it will no longer fund any of the costs of the company from the cash flow generated from its producing asset, Otakikpo”, Lekoil (LEK) has now made a “Director Loan – Update”-titled announcement. Now why don’t I think this is going to be good news?…

Today has been dominated by exposing the Umuthi fraud. There is a stack more to come on this over the weekend but I hope you have enjoyed it so far. I discuss another couple of aspects of this case and lessons we should alllearn. Then it is onto Audioboom (BOOM) and All Active Asset Management (AAA).