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Latest News

CEY
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Centamin – 150p target hit so time to top-slice

It wasn’t a formal tip from me but having mentioned fully-listed Centamin (CEY) a good few times saying I had a target of 150p to top-slice, it seems only fair  that I flag up that the mark has been reached so a further handful of my shares are going into the shop window.

Newsboy
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Late August classic: travel (WH Smith) and...flooring (Headlam)

No doubt a few of you are reading this either on holiday or having just returned from one. And little doubt quite a few of you popped into a branch of WH Smith (SMWH) during your travels – certainly more of you than has popped into your local High Street equivalent. The last time I wrote about the share I concluded 'I think I would still be interested on a clear sub £20/share fall'

Collapsing-Reactor

Redemptions Watch: bad news keeps rolling in for Neil Woodford

The wall of bad news for Neil Woodford shows no sign of abating. Last week saw Eddie Stobart (ESL) suspended, his investment into laws of physics-bending Industrial Heat heavily marked down in a revaluation and two further biotech outfits written down to near zeroYesterday the FD at Rutherford Health (RUTH) - the former Proton Partners - exited stage left on the eve of his reappointment at the AGM which kind of suggests to me there is a problem, Muddy Waters continued its attack on Burford (BUR) thanks at least in part to the excellent work of Drunken Sailor. And on Friday (no doubt after-hours) we will see the delayed Q2 results from Oslobors-listed Thin Film (THIN) which has been trying (and failing) to raise money, and is running out of cash fast. Where will the next shoe drop?

SCE

Surface Transforms – “pleased to announce” contract agreement, though how’s the cash headroom?

Previously writing on Surface Transforms (SCE), in May I concluded including on recently raised funds forget “to grow and develop”, more like ‘to continue to trade’. The shares are though currently on the rise on a “Contract Agreement with German OEM 5”

LLOY

The Black Horse Gets Too Much Whip as the Numbers Show It's Running Well

Hello, Share Walkers. Horrified I was when I checked on the price of my Lloyds (LLOY) shares and found a hefty slice of my money gone - on paper. There’s little doubt in my mind that these shares are being cruelly treated by the City. The numbers support this view and the best reason I can think why Lloyds is not more buoyant is the uncertainty of Brexit...

WPCT
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BREAKING: Neil Woodford Dog Rutherford Health (ex- Proton Partners) announces immediate departure of CFO. Rats, sinking ship?

Following my weekend comments when I suggested readers have beer and popcorn to hand as Rutherford Health (RUTH), the ex- Proton Partners (PPI), has called its AGM for tomorrow as investors are asked to approve the share issuance required to take Neil Woodford’s £45 million of other peoples’ committed money, today the CFO has resigned!

RNO
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Renold – accounting over-statements “broadly consistent with the guidance”. Or are they?

Renold (RNO) describes itself as “a global leader in the manufacture of industrial chains and also manufactures a range of torque transmission products which are sold throughout the world to a broad range of original equipment manufacturers and distributors. The company has a well-deserved reputation for quality that is recognised worldwide”. Certainly, that has not proven the case with its financials at least – it last month postponing its AGM after “the identification of historical accounting issues over the three years ending 31 March 2017, 2018 and 2019… immediately initiated an independent investigation”. Now “Completion of investigation”

WPCT

WPCT – Oopsadaisie Neil, what’s today's disaster?

Woodford Patient Capital Trust (WPCT), which is considering Neil Woodford’s future as manager, announced its NAV as at the close of play of Friday this morning (just) at 11.57am. We had been warned that Link was marking down the value of investee Industrial Heat by the equivalent of 3.4p per WPCT share. But it seems this was not the only bad news….

Bearcast
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Tom Winnifrith Bearcast: Wasting 20 minutes of my life trying to help thicko journalist Mark Shapland

The Evening Standard man is not very bright and still does not understand the import of today's Muddy Waters Burford (BUR). Look at the tweet exchange below. Would you believe I wasted 20 minutes of my life answering questions about the dossier from this ungrateful knobhead today?. It is not the first time I've helped him but with no grace to credit, it will be the last.  I also look at First Derivatives (FDP), discuss the very low grade lawyer's letter I received today, look at ADM Energy (ADME) and at the comedy show that is Providence Resources (PVR)

Trump

Collapsing the US economy on Trump’s head...

Collapsing the US economy on Trump’s head is one sure way to prevent his re-election...

LVCG

Live Company – after Friday attempted no one watching o’clock announcement, “Operational Update”...

An “Operational Update” from Live Company (LVCG) commencing; “The group is pleased to announce it has now contracted 60 BRICKLIVE shows and events across the world for 2019, achieving a key milestone for the company. This was the original target set by the company for the year ending the 31 December 2019. The group will continue to work with new and existing partners to deliver further shows and events in the remaining four months of 2019.” Sounds good – but then on Friday it was intra-day (2pm) RNS. Attempted no one watching o’clock?

RAV
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Neil Woodford – the dash for cash: Raven Property

Today Raven Property Group Ltd, (RAV) a Russian Property Investment Group, announced strong results with an increase in diluted net asset value per share of 40% to 67p (31 December 2018: 48p).  The company also announced a proposed distribution of “1.25p per ordinary share by way of a tender offer buy back of 1 in 44 shares at 55p.”

PURP
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BREAKING: New Purplebricks boss Vic Darvey hints at wholesale changes in UK business model

Right now the UK operations of Purplebricks (PURP) are booking a small profit. So if it ain’t broke don’t fix it, right? Er new boss Vic Darvey has given an interview to the Press Association hinting very much otherwise.

Newsboy
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Motels, gold and the stock no active investor should buy

As a self-confessed investment sad-o, I really like statistics such as when the guys who started the US discount hotel chain Motel 6 opened their first roadside inn in 1962, an ounce of gold would have apparently bought you a six night stay. Now (at today's prices) it buys you a twenty one night stay. Now we can debate whether you want to spend three weeks in a Motel 6 or not...but you get the point I am trying to make. A bit of gold goes a long way to improve the performance of the characteristics of your portfolio in times of strife…

BUR
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Muddy Waters credits ShareProphets and Drunken Sailor as publishes new Burford dossier

To his credit, Carson Block has credited us fully in his new dossier covering the Napo scandal. The contents will be familiar to our readers having been published here 2 weeks ago. But it has aroused the deadwood press. I have already had one hack on the trombone seeking further clarification. The citical point is that without a Napo win fee, Burford (BUR) would have reported a 2013 loss, not a profit, shortly before getting away a big bond issue. As I noted in a letter to the Nomad Johnny Allison ten days ago "name that case!"  Burford's failure to do so is telling. The new Muddy Waters dossier is below:  

Malcolm

The PPI Obsession and Why I'll be So Glad When This Week's Deadline Passes

Hello, Share Scrapers. Nobody has any idea how the bank holiday tumbles in Asian markets will affect the Footsie this week. And as this gorgeous website is dedicated to showing you how to make money, let me turn to an area which is now’t to do with shares but which could still put thousands in your pocket...

ADME
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Letter to Nomad Cairn Financial re ADM Energy: why were you party to deception and are you contacting the FCA

Shares in ADM Energy (ADME) are almost certainly, more or less worthless, as Gary Newman explained here. Those who paid c20p at peak “Sheikh on the Make hype”  for the shares must be spitting nails. The object of their anger should be Nomad Cairn Financial, of Cloudtag infamy, to whom I have written today cc’ing in AIM Regulation and the FCA. The letter follows.

Bearcast
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Tom Winnifrith Bearcast: Hey whistleblowers don't go to the FCA, it's proven to be useless, come to me & here's why

Prompted by two phone calls today which could yield explosive results against an old adversary I reflect on why more and more whistleblowers come to me and why they are safe in doing so. Then, prompted by something very exciting I should be able to reveal  in September, I look at why going to the FCA is such a waste of time and what it needs to do to change its ways.

GTC

Getech – half-year trading update, results detail to highlight the value?

Provider of geoscience and geospatial products and services, Getech (GTC) has updated including “although H1 2019 revenue was lower than in H1 2018, new sales have strengthened Getech's forward earnings path”

GRIT
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BREAKING: GRIT – will you or Peterhouse be asking the FCA to investigate boss David “Sam” Hutchins? If not why not?

Oh dear. Oh dear. I have been made aware of certain actions by David “Sam” Hutchins the soon to depart boss of main market listed  Global Resources Investment Trust (GRIT). I know his fellow board members are aware of them and to them, and to new adviser Peterhouse, I ask “have you requested the FCA investigate and if not why not?” The allegations against City Grandee Hutchins are severe and if proven should be career ending.

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Bearcast issue update: all should be well

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