I have always rather liked Ronald Duncan of Cloudbuy (CBUY) because he has the most excellent taste in music and is also a thoroughly decent man. I am sorry he got dragged into the Equities First Holdings mess and I put that down to naiveté and a desire to purchase a nice house not malice. I am thus delighted to report some breaking news which is good news for Ronald and Cloudbuy but opens up a whole new can of worms for EFH and a few other directors.
Hello Share Swallowers. It's that time of year again. We must think about selling enough shares to take advantage of our annual capital gains tax break.
I have a terrible migrane and am off to bed. Before I go a podcast covering the China Norfolks, Sierra Rutile, asylum madness and Teathers Financial and in detail Corero Networks. Oh, there is also a joke from Lucian Miers.
This has been a bad share tip. The macro scene has been unhelpful but whichever management team has been in charge EMED Mining (EMED) has not prospered. The latest revelation prompts us to apologise sincerely but to advise selling at 3.25p. Enough is enough.
It was announced yesterday by Tern plc (TERN) that institutional grandee Hargreave Hale has been offloading yet more of the 9.05m shares it acquired during December of last year. Having paid 3p a share and then topped up at 9p, Hargreave Hale (HH) has been steadily offloading at around the 6p mark since January.
We quite like SP Angel when it comes to research as lead analyst John Meyer is an honest chappie, who produces detailed work and can be critical when needs be. Today's detailed note covers the big stories of the day including Dalridian, Metminco and Sierra Rutile and a detailed macro view on the news that is shaping global mining and the AIM mining pond. We have now agreed to carry the SP Angel note every working day going forward.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details changes to net short positions in the last week (red if short increased, green if reduced)...
Austria-focused AIM dog Noricum Gold (NMG) is seeking for a partner for its flagship Rotgulden gold and copper project, after clinching a deal to buy another prospect in the country, the Walchen polymetallic VMS (volcanogenic massive sulphide) project, for £360,000. The company, whose shares have dropped 95% to 0.21p since floating at 4p five years ago, has raised £478,000 at 0.2p to cover the purchase and meet other expenses, and will spend the coming months mapping, sampling and drilling Walchen.
Yesterday a new video appeared on the website of Worthington (WRN). Then it er..disappeared? This is all rather confusing and must be very confusing for UKLA as it decides whether to allow the shares to relist. Luckily we captured the video and so are happy to bring it to a wider audience. And we have more news.
There is so much to say in today's podcast but to clarify that in yesterday's podcast when I said monogamy I meant celibacy. I start with a tidy up on Motive TV following on from HERE and then onto Rosslyn Data as a follow up to HERE - I shall be contacting the FCA and AIM Regulation about Rosslyn and its loathsome Nomad Cenkos later. And then onto a special from Big Ray Zimmerman at disgraced ZAI Corporate Finance - a true POS that is Zibao Metals Recycling. Guess where it does its business? And we have the China AIM Norfolk poll results for you.
I was somewhat surprised to see the share price of Balfour Beatty (BBY) rise significantly off of the back of its final results yesterday. The UK based construction company had already issued several profit warnings during 2014, so it probably came as no real surprise to investors that it reported a £59 million loss for the year ending December 31 2014.
Obtala Resources (OBT) has been issuing good news after good news release – the latest being a cracking forestry deal. Yet its shares are almost unmoved – at 9.625p today. That is down to one thing alone, the incompetence of Nomad Jefferies.
Last year ShareProphets broke the scandal of AIM company directors taking loans from Equities First Holdings LLP (EFH) and entering into sale-and-repurchase agreements over shares in their companies as collateral. There were various conditions which would trigger a default which required either the transfer of further shares or cash to EFH, or there was the option just to walk away. Within days the first of the AIM companies (Quindell) saw former boss, the insider dealer, Mr Robert Simon Terry walk away under the non-recourse terms – he kept the money. Now a second one is on the hook.
Hello Share Primpers. One of my three 2014 tips on this smashing website has made a one day leap of 75% as I write this.
Jeepers, I am meant to be preparing a romantic meal for two tonight and I have not even started. The Mrs will not be pleased but it is a busy day. On this podcast I cover China frauds -and invite you to vote on which will be the next AIM Casino China Norfolk to see its shares suspended (HERE), Monitise, Eclectic Bars, Coms and more.
I mentioned this in BearCast and it is just a bit of fun. Shares in Naibu remain suspended as the CEO of that fraud Mr Houyan Lin languishes in a China gaol cell. So which will the be the next China AIM stock to be suspended for whatever reason - natch fraud is the most likely reason, Vote now, results tomorrow
Yesterday I recorded a Bearcast special on Rosslyn Data Technologies (RDT) HERE – I have received a number of emails suggesting that my bearishness is bang on the money. It now seems obvious to me that the company was effectively bust pre IPO, that its core UK market is not growing and that a cash call is looming. But it gets worse.
Monitise plc (MONI) has announced that a strategic review has concluded “that the best way of maximising long-term value for all stakeholders is to continue transforming and streamlining the business as an independent company”. With the shares having reacted a current more than 16.5% lower, to 15p, the following reviews…
Last week the Chancellor offered some relief to a North Sea industry suffering from high costs and low oil prices. He didn't do it out of the kindness of his heart but rather to keep new projects coming online and to make investment in old fields that bit more attractive.
We quite like SP Angel when it comes to research as lead analyst John Meyer is an honest chappie, who produces detailed work and can be critical when needs be. Today's detailed note covers the big stories of the day including EMED, Jubilee Platinum, Wolf Minerals and Tr-Star and a detailed macro view on the news that is shaping global mining and the AIM mining pond. We have now agreed to carry the SP Angel note every working day going forward.
What will Father Christmas be putting in the stockings of the writers of ShareProphets, nine share tips, plus what sexism at the BBC
So Carillion (CLLN) has gone tits up. You do rather feel for its 19,500 employees but as folks work out what happens next there is an orgy of recriminations. What lessons do you learn?
It only took 15 days but I have just received my first lawyer's letter of the year, via email. So here is a little quiz. Who sent the letter:
So yesterday saw Joshua go to his first proper football match - Brislington Ladies vs West Ham Ladies. A full photo report will follow later but the language from the Essex Girls in claret and blue was not very lady like. Listeners, I was shocked. On the markets I look in detail at Versarien (VRS), Greatland Gold (GGP), Velocys (VEL), RM2 (RM2) and as well as Nomates Neil Woodford I also have some Julie Meyer news, I fear that "Praise Be the Lord" may be about to send me a letter.
A hat tip to Waseem Shakoor for the graphic below. Carillion (CLLN) went bust today. Greatland Gold (GGP) has seen its shares halve as Newmont has pulled out of a jv. So what else do folks owning these two stocks own? See below.
As you know I got a lawyer's letter from the Ariadne Group run by Julie Meyer yesterday. I explain why the in house lawyer poodle chap is a very confused young man. He has not, as he said he would, got back to me to clarify his confused position. I urge you to read Nigel's AIQ expose today as it is most excellent. I discuss Haike Chemical (HAIK) and why it is by definition a bad company as is - as per today's article here - Purplebricks (PURP). Then it is onto the looming bun fight at Paternoster Resources (PRS) - if any of Nick Lee, Amanda Van Dyke and Melissa Sturgess which to dish dirt on the oppo, I am here and happy to publish it all. You see I am everybody's friend.
Having taken a look at the prospectus for the flotation of AIQ (AIQ) on the Standard list in part 1 we now move on to Mama Captain, Barrel2U, Mama Harbour and iBuddee. These outfits have faced allegations of being ponzi/MLM (multi-level marketing)/pyramid/money game schemes.
Andrew Monk's VSA floated AIQ on the Standard List last week. Its shares soared 1000% and were suspended. As Andrew notes, through the passive investment vehicle RRR I own shares in AIQ (about £10 worth - CORRECTION I am told it is £1841 worth!). I will try to sell the lot as the valuation is insane. But Monk wants to defend his corner so before our writers really go to town - and I am on their side - here is Monkey in his private email to clients today...
North of the Border, www.scottishhousemove.co.uk is going after Purplebricks (PURP) big time. Its homepage boasts that it will undercut Purplebricks by £750 and carries a stream of dismal reviews from allagents.co.uk for its larger rival. Then it really goes on the attack as you can see below.
Investors who believed all the hype surrounding Greatland Gold (GGP) received a nasty shock this week when the share price collapsed, but for many of us who have been around the market for a while it didn’t really come as much of a surprise.
Last week’s flotation of AIQ (AIQ) on the LSE’s standard list raised a lot of questions. For a start there was demand for the stock, but apparently no stock available to buy: it seems the registrar had yet to send out certificates and so the shares rocketed until they were suspended. But after much digging, there appears to be rather more to the story than the listing of a bare Cayman Islands shell. Where to start?
To understand why 2018 will be a catastrophe, imagine a magnificent mansion built with the finest materials and craftsmanship and furnished with the most expensive furniture, carpets and decorated with finest art. Now imagine this mansion is built on quicksand. It will have a brief shining moment and then sink slowly before finally collapsing under its own weight.
There's been an accelerated bookbuild which has seen Adam Reynolds and a number of close allies place out all their stock in React PLC (REAT). The shares we own were not placed out. We will only sell after advising you to do so.
Despite the scepticism previously exhibited on this stunning website, I would not be in a rush to sell shares in Versarien (VRS). Even though yesterday’s leap was approaching 35%. That’s normally a signal for this old punter to trouser the profits. But this is one of those mystery shares which could go either way, and I don’t welcome the pain of maybe selling too quickly.
Clearly, the whole AIQ (AIQ) IPO was a farce the way it has been handled and having also been digging around, there is more to come but I will leave it in the excellent hands of Nigel to report further on the dodginess here. I will just turn my hand to a bit of poetry inspired by Monk’s defence this morning and by recent Twitter hilarity.
Hello, Share Pilers. Even though you must be making dollops of money from shares, given the perky Footsie, some of you are still scrimping a few quid a month, by avoiding a life-saving subscription to this magnificent website. That makes no sense, as it will help you avoid making slips which could put you back to square one again.
Geotechnical engineering contractor Van Elle (VANL) has updated regarding the demise of Carillion plc as it “carries out regular work for Carillion as a specialist lead sub-contractor, principally in respect of rail improvement and maintenance work where Network Rail is the end customer”…
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