Sunday 18 March 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Two Pauls and a Nigel - learn value investing from the masters at UK Investor on April 21- today's offer
The February 2018 edition of the UK Investor Show Magazine is now live: Nine share tips, giving in a tax-efficient way, don't count Trump out
Tom Winnifrith Bearcast - Capitalism in crisis and shamed at Conviviality, Deutsche Bank and across the board
Master Investor - the photos of a washout that asset stripper Jim Mellon is desperate you do not see
I have often grumbled about the inadequacies of the AIM NOMAD system which has always seemed to me to be an inherent conflict of interest. That is to say that NOMADs are expected to ensure that their client companies adhere to the AIM rules and given that they are paid by these companies, the temptation to ignore transgressions is irresistible, particularly given the reputation for inaction by the regulatory authorities.
I revealed yesterday how the ramptastic boss at uber-pump Harvest Minerals (HMI), Mr Brian McMaster, had branded Lucian Miers as an "internet troll" for having the temerity to (rightly) call the shares as a sell at 21.5p. The outrageous behaviour of this spivvy promoter makes me look at the shares, now 17.25p to sell, and I have to say that it is "red flags ahoy" - Lucian is 100% correct.
In an article just before Christmas Lucian Miers explained very clearly why at 21.5p shares in uber-ramped harvest Minerals (HMI) were a slam dunk sell. He makes hard and valid points - including that a placement is looming - HERE. The shares are now 17.5p to sell. And so a loon has emailed Brian McMaster who runs Harvest and posted his reply on the LSE Asylum. Brian the ramper fails to answer Lucian's points, fails to deny that it is placing ahoy but instead brands Lucian an "internet troll." McMaster writes:
On the face of it, Harvest Minerals (HMI), whose shares have quadrupled since they switched horses from the ASX to the AIM Casino a year ago, seem like a cracking good investment.
We do like to provide balance here on ShareProphets and in that vein we bring you yesterday’s morning note from Beaufort Securities, house broker to Harvest Minerals. As exclusively revealed HERE by Tom Winnifrith with his Sheriff’s hat on, the company pulled a placing at 8p last week, in the hope of getting one away at a higher price. But that appears to have triggered a short squeeze as forward-sellers were forced to cover their positions. But it now seems that it is full rampety-ramp steam ahead for a second attempt.
Its a ramp based in Australia which in the current climate of fevered bulishness is perhaps ideal. Shares in Harvest Minerals (HMI) started August at c5p - they are 21p today. The word from a reliable source is that Beaufort Securities - appointed as joint broker last month - was trying to do a placing at 8p. But...
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