There will be few who would disagree that the post June period for Proteome Sciences (PRM) is probably best forgotten. This is because, following the early summer bull trap reversal through 70p, we were treated to a punishing two stage decline.
The U.S. Comex gold futures rallied 0.46% on Wednesday and was flat on Thursday, the day before the U.S. non-farm payrolls report is due. During Friday morning in Asia, the gold futures touched $1,260. The fact that the Chinese are returning from their Lunar New Year holiday may have added to the gold price momentum.
Leyshon Resources (LRL) has updated that cash balances totalled $36.20 million as at the end of 2013, $2.15 million lower than three months prior after particularly $1.79 million of exploration and evaluation spending in the quarter. However, a demerger has subsequently been implemented – with shareholders receiving a share in Leyshon Energy (LEN) for each share held in Leyshon Resources.
Greka Drilling (GDL) today says that there is no reason for its share price movement (down). Really? I would like to offer up several reasons why the shares could continue to fall, on the basis that this company is just not a very good one. I phrase that diplomatically.
Colin Bird, the entrepreneurial small mining company player heading Jubilee Platinum (JLP) and several other concerns, has signalled what he insists will be a rewarding fresh stage in AIM-quoted Galileo Resources’ (GLR) development. He has added gold copper in Nevada to Galileo’s present key asset, the Glenover phosphate and rare earths project in South Africa.
Hello Share Shakers: We've all had a nasty shock in Shareland. Our bag of shares will not be worth nearly as much as it was a month ago. A periodic correction is to blame. Even so, I continue to hold key positions.
No sooner had I submitted my last piece to Share Prophets, which looked at the state of President Energy (PPC) after its awful fall, the company announced the price of its placement. Surprise, surprise it was at a deeper discount to the day’s already calamitous trade; 35p, 24% lower than yesterday’s close.
Why should placements automatically be discounted?
Shareholders in President Energy (PPC) might very well be asking themselves that very question this afternoon. Yesterday, President issued, what I thought was, a pretty bold statement of intent to raise money. Clearly the market disagrees with me and the stock is down 22%, as of writing.
Kerr Anderson, managing director of Irish junior Ormonde Mining (ORM), says he hopes to get the go-ahead from Spain’s Mining Department within two months ‘to develop one of Europe’s largest tungsten mines’ at Barruecopardo in the western province of Salamanca.
Earlier this week, Advanced Computer Software (ASW) announced the £14.5 million acquisition of Compass Computer Consultants Ltd, a provider of business services software, training and support to more than 80% of UK colleges and higher education establishments. Following this Advanced’s Chairman has sold more than £1 million of shares at an average of just under 110p per share.
In many ways, as far as Tullow Oil has been concerned, in the post September, period the price action has actually been “too bad to be true”. On this basis, the type of dead cat bounce rally we were treated to yesterday could be seen as par for the course. I say this, even thought the shares were unable to sustain the sharp January support bear trap rebound from below £8.18.
One of the best things about being a Closet Chartist is the way that the cloak of anonymity allows you to make the kind of calls others may be too fearful to entertain. Such a “where angels fear to tread mentality” is certainly appropriate in the case of GCM Resources where there has been a near vertical rise for the stock through the 200 day moving average at 19p.
We will next week be publishing two new books on Amazon – one an old out of print but updated classic from the grandfather of share blogging Malcom Stacey and the other a new classic from top chartist Zak Mir. But you can obtain an advance copy for free. We also have a special report on unlocking the secret of how to trade Gulf Keystone from Zak.
S&U PLC (SUS), provider of home credit and motor finance throughout Britain, yesterday update the market that its trading was "in line with market expectations". With an improving economy, I had to ask myself whether or not this was discounted in the share price?
I have written some harsh things about Peter Redmond, the chairman of AIM Cesspit listed Leed Resources (LDP) and bought £7.50 worth of shares in his company to attend its AGM today to ask questions and push for his departure. But I guess I am now free to lunch at Maribelle’s instead, because Redmond has this morning announced that he will be standing down as chairman after the AGM with immediate effect. Before I crow, I should say he has, today, acted with honour.
Hello share panners: We are only a couple of months away from the share-shifter's most important date of the year – and we should shart to get ready for it now.
Even hedge fund genius Crispin Odey, who knows a thing or two about the financial markets, is happy to admit that one of his trading / investing triggers is the higher low to go long. Could Serabi Gold, therefore, be an attractive target for the multi billion asset manager’s attention?
Middle aged chartist Zak Mir apparently tweeted out on Tuesday that Amedeo Resources looked to be a buy at 0.82p – the price then. The target was 1.2p. This seemed ambitious, but, of course, with the stock having hit 3p plus within hours of the bull call, the cat is among the pigeons and we are forced to reassess the charting position here.
Unlike some we could mention we have never bought twitter followers nor do we follow folk just to get a follow back. @shareprophets follows no-one, not even @tomwinnifrith – and yet, in eight months, we appear to have accumulated 1,137 folks who follow us on twitter to keep tabs on what we write. Why not join them and win a prize.
In the final part of this week’s Top 6 AIM stocks to buy, the Closet Chartist selects IGas Energy and Victoria Oil & Gas
Nine share tips, giving in a tax-efficient way, don't count Trump out. And much more...
Beaufort clients will get their cash and shares back but it looks as if it may take a while. Special Administrators to the City broker, PWC, has just written to all customers and it looks as if this is an almighty mess. I suspect there are a few connected with Beaufort who will be sweating. PWC writes:
One of my two tips of the year, Berkeley Energia (BKY), has announced half-year results – these for its period ended 31st December 2017…
The short list is Conviviality (SVR), Clear Leisure (CLP) and Graphene Nanochem (GRPH). I discuss all three but also UK Oil & Gas (UKOG) where the deafening silence is a very bad sign. I consider Sir Patrick's Day tomorrow and how Joshua and I will celebrate and I look at Mothercare (MTC), retail gloom, Mitie (MTO) and the double standards of the great and the good. Make sure you get your free ticket to UK Investor on April 21 using the promotional code WINNIFRITH when booking an investor class seat HERE - if only to hear a live 40 minute bearcast with myself & Paul Scott being recorded!
Value investing is how you make money from shares. Any other approach is not investing but speculating and is, by definition, hit and miss. So do you want to know what Britain's leading value investors are thinking and what shares they are buying and selling? Today's special opportunity is.... Three great value investors will be on stage together discussing how they select stocks and what they are buying and selling at the Global Group UK Investor Show in London on April 21. They are: Paul Scott, Britain's top share blogger, Nigel Wray, the man known as Britain's Buffett, and Dr Paul Jourdan the boss at the hugely successful Amati fund management operation.
After recent events if Conviviality (CVR) boss Diana Hunter told me that 2 + 2 =4 I would ask her to provide credible third party verification before accepting her at her word. So today, with the shares suspended pending clarification following the "discovery" that £30 million of tax was due by month end, MS Hunter has updated poor investors and it seems everyone loves the company. What bollocks. Here are Ms Hunter's words with a ShareProphets translation service in bold.
Once again Tim Martin, the boss of JD Wetherspoon (JDW) is my hero of the day using the occasion of half year results to lay into big business and the lying liberal deadwood press for misleading us all about Brexit. The great man opines:
Under promise and over deliver is what every adviser tells every company listing on AIM. One might say that Ariana (AAU) has not kept to that script with perfection since it listed all those years ago back in the black and white era. But as we move though 2018 with the 50% owned Red Rabbit mine now operational Ariana is doing what it should as we saw in a cracking operational update this week.
My second tip of the year, AIM-listed Bowleven (BLVN), announced on Tuesday that major shareholder Crown Ocean has once again been upping its stake – it now holds 29.03% of the equity. I took the cue and did the same (though not 29%!). Crown Ocean is, of course, the shareholder which rocked the boat last year and forced out the old board by calling two EGMs and supported the new fellas as they proposed to turn the company into a holding company with rather lower costs.
Hello, Share Teasers. We are now only a few days away from the latest set of figures from IQE (IQE). And once again I face an irritating quandary on what to do with my remaining holding. This cache of shares isn’t as large as it used to be. That’s because only a fool disregards negative comments on this magnificent website. It probably has the best investigative writers in the City. But even the best shorters get things wrong, so I retain some IQE shares.
I’ve previously cautioned on shares in Zinc Media (ZIN) - most recently HERE, and note they currently approaching 17% lower today, towards 0.60p, on the back of a half-year results announcement…
A 1:30pm “Re: Contract” announcement from transport technology company 21st Century (C21). A cause for concern?...
Previously writing on specialist staffing company SThree (STHR) I concluded it may be relatively well placed, but macro concerns saw me cautious on the shares. Today a Q1 Trading Update…
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
Anyone foolish enough to be a shareholder in AIM-China play Haike Chemical (HAIK) has until 1pm today to accept an offer for their shares at 30p. An EGM on 12 March passed resolutions to delist from the Casino, the execution scheduled for close of play on 19 March.
I’ve been warning on OneView Group (ONEV) since it went from “remains confident” in September 2016 to “likely to be below market expectations” the following month! The shares had then been hit to below 4p… But they’re now circa 12p aren’t they? A September 2017 10-to-1 share consolidation though needs to be factored in - and today there’s a 10:21am Short Term Loan Facility announcement…
Hello, Share Walkers. Anyone not subscribing the measly £5.99 a month to reap all the trading advantages of this beautiful website is probably taking an unacceptable risk. Especially at this time of year, when you still have a chance to sell your losers to cut your capital gains bill.
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