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Latest News

Bearcast
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Tom Winnifrith Bearcast: after 27 fecking miles in the sun I must have sun stroke - defending a PR firm ( St Brides) & also Jim Mellon

I feel like shite, hence the late bearcast. I managed it! 27 miles in the heat today has taken its toll. I am in real pain in all sorts of places. Enjoy that pain TW haters, revel in it and make a donation HERE I could have walked 32 miles today but did not - that treat awaits me and Brokerman Dan on July 28. He is training hard too. Enjoy his pain and please donate HERE. In the podcast I pass on market intelligence on Optibiotix (OPTI), discuss Cynical's massive expose on Kibo (KIBO) HERE and then leap to the defence of both a PR firm and the asset stripper Jim Mellon. It must be the sun...

KOOV

Koovs burns cash at an alarming rate but fails to translate it into significant growth - sell

Indian online fashion retailer Koovs (KOOV) is a company that I have kept an eye on as some were tipping it to be the next Asos, but I have always been far more bearish on the chances of that actually happening!

CNEL
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Filthy Forty China New Energy FY17 numbers: Red Flags for breakfast?

ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) put out its full year numbers for 2017 at 7am on deadline day, last Friday. It boasted significantly increased revenues and profits, so all’s well? Er…

PURP
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Purplebricks, with results next Thursday remains a strong sell at 329p

Purplebricks (PURP) is due to report its results for the year to April 30th next Thursday and has promised more detailed guidance than that which was given at the time of the Axel Springer investment in March.

SIA
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The market will eventually wake up to the true value of SOCO International - buy

At times in the lower end of the natural resources sector it seems as though the worse the company is, the more money private investors are prepared to put into it.

KIBO
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Kibo Mining – Is this securities fraud or just plain old shoddy AIM behaviour?

I’ve been following the Kibo Mining (KIBO) story for a while now watching Louis Coetzee continuing to fail to deliver the PPA at its flagship Mbeya power project but Friday’s announcement raised my eyebrows slightly higher than normal. In my view, it is either securities fraud or merely epitomises all that is wrong about disclosures and announcements and the roles of the various advisers at the lower end of the market.

Bear

Five slam-dunk sells for 2018 – June update

I wondered last weekend whether we might see a casualty amongst my portfolio of five slam-dunk sells for 2018 as the reporting deadline on Friday approached. Sadly all outstanding numbers were forthcoming, so no ouzo for me. But the reported numbers were staggeringly awful.

Pot_Stocks

Notes from Underground: Celebrate legal pot stocks

I'm certain that all of you have today risen your morning tea in a toast to my homeland, Canada, on its 151st anniversary of existance.

PURP
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Eight is the Magic Number for Purplebricks but it ain’t getting close

Another day and another expose of the failing Australian business of Purplebricks (PURP) appears. Remember that bulls need Purplebricks Oz to switch from heavy losses to profit if forecasts are to be met. It just does not look likely. In the latest expose from the AFR we learn:

SLE

San Leon Energy – results from a ‘challenging’ 2017… but outlook now promising - BUY

San Leon Energy (SLE) has announced results from the 2017 calendar year, “when the company faced significant challenges” – but emphasising it’s now able to focus further on yielding value from “a world-class asset with substantial reserves and a CPR target gross production rate of over 100,000 bopd” – (it’s indirect economic interest in) OML 18, onshore Nigeria…

Bearcast
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Tom Winnifrith Bearcast: Radio 4 misguided, ShareSoc Pompous & wrong, Amigo revolting

Tomorrow is my longest training walk yet for the Woodlarks 32 mile charity walk with Brokerman Dan. I plan to set off at 5 AM on a 26 mile trek. Think of my utter pain in this awful heat and please give £10 to a great cause HERE. I then look at the recent Radio 4 programme on shorting which was sprinkled with pompous and half-witted comments from ShareSoc. They are naive and have it all wrong and I explain why. Then I look at whether share dealing should be ethical - ref Dave Lenigas  and his ramping of UK Oil & Gas (UKOG)  - should we all get on board? Finally I look at the IPO of Amigo which I find revolting at every level. 

IQE
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Bombshell: IQE Photonics - Fading fast?

Last week I wrote about how IQE’s (IQE) latest annual filing revealed that were it not for one major customer, IQE’s business would have gone pretty much nowhere. Therefore all the excitement and value increase appears heavily reliant on that one major new customer. Today we highlight how at its recent AGM, on 4 June, IQE provided guidance of a 40:60 revenue split for H1:H2 2018, indicating either a slowdown or (as some may hope) merely a deferring of growth.

TUNG
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Tungsten: beer and popcorn time as GM requisition to boot out the board is received

Steve Moore commented HERE on press reports of potential boardroom strife at AIM-listed Tungsten (TUNG). It now looks as though the gloves are off, as last night at no-one-is watching o’clock (4.32pm) on a Friday evening the company announced it had received a General Meeting requisition with proposals to boot out the Chairman, CEO and two NEDs. I reckon we could be in for a treat on the entertainment front!

PURP

Table of shorted AIM shares - week to 29/06/2018

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...

OPP
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Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

Bull

Why I Think Shares Will Stay Sunny As the Scorching Footsie Puts the Heat on.

Hello Share Flingers. Against the flow, and my learned friend David Scott, I think shares will continue to rise. I’ve recently said that we should always be prepared for a crash because common sense says there will be one eventually. But sense is rarer than budgie teeth in Shareland where one philosophy over-reaches all others.

Bearcast
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Tom Winnifrith Bearcast: happy birthday Olaf although I know you will not be listening

I start by wishing my daughter Olaf a happy 17th although she will not be listening and indeed wants me to retire so I stop embarrassing her by expressing my support for Trump, reservations about abortion or other crimes against the new world of 2018. It was Olaf's birth all those year ago at 1lb 4oz that got me involved with Woodlarks as I explain. This weekend my training walk will be 26 miles in this scorching heat. Think of me and if Olaf can spare a tenner so can you - donate HERE. In the podcast I explain why Julie Meyer must be stopped it is not just investors that need protecting. I cover FastJet (FJET), Action Hotels (ACHG), Akers Biosciences (AKR), Management Consulting (MMC), UK Oil & Gas (UKOG), Angus Energy (ANGS) and Amur Minerals (AMC).

MMC

Management Consulting Group – a proposed placing and open offer, but not ‘pleased to announce’

I’ve previously noted on Management Consulting Group (MMC) it an ‘operational improvement implementer’ which needs some of its own medicine! and most recently in November ‘below expectations’ trading warning less than 3 months after “well placed” interims. The latter saw the shares heading down towards 6p, though I concluded that 'it remains that I’d want much more than the likes of “positive progress” and level of proposals “has now started to improve” here to be convinced of a turnaround. Currently still a bargepole stock'. Now a Proposed Placing and Open Offer announcement…

UKOG
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David Lenigas ramps UK Oil & Gas shamelessly on twitter - the master pumper is back

You would have thought that after being caught ramping UK Oil & Gas (UKOG) where he is a paid consultant in the most shameless fashion and with statements he could not verify as a bailout placing got underway, as exposed here, Big Dave would STFU. But now...he has no shame and is tweeting like a dervish once again as you can see below. In the US this sort of behaviour by "consultants" would be dealt with very firmly indeed but this is the AIM Casino.

FRR
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Frontera gets out dismal results and an operational update that tells us nothing – Show Me The Money!

As I write, the whore blogger Malcolm “Fat Bastard” Graham Wood is taking dictation from his master Zaza as to why today’s results from Frontera Resources (FRR) point to a bright future. Yes Zaza, whatever you say sir, I shall write up my “Independent” commentary now. And sir, I notice that my invoices for February onwards have not been paid: perhaps you might put some brown envelopes in the post? Of course calendar 2017 numbers, snuck out on the last day possible, were shite.

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