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Latest News

SYME
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The Supply@ME Capital FRAUD – 2 more developments that make no sense at all, go ask Alice

This is all batshit crazy and any sane investor would run a mile as a result. First up there are those EFH style loans I discussed less than a week ago.
GELN
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Gelion – interims argue “confident… well positioned to continue developing relevant energy storage solutions”. Is it though?…

Describing itself as an “Anglo-Australian battery innovator”, Gelion (GELN) today states that it “is pleased to announce its interim results for the six months ended 31 December 2023” and emphasises “the progress that is being made every day organically by both our Lithium Sulfur and Zinc Hybrid teams to bring the pieces together and establish Gelion's unique proposition”. However, why are the shares then at 15.25p comparing to an even start-of-2024 above 24p?
Bearcast
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Tom Winnifrith Bearcast: Kerboom, GOTCHA!

In today's bearcast I look at Ben's Creek (BEN), BSF Enterprises (BSFA), our own PL and Skinbiotherapeutics (SBTX), Cavendish Financial (CAV) where surely a profits warning is on the way, S4 Capital (SFOR) and then in great detail Technology Minerals (TM1) which appears to have broken a string of rules on disclosure, accounting and worse. It really is a zero in waiting. GOTCHA!
TM1
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GOTCHA! Technology Minerals – why interims and year accounts need to be restated to consolidate Recyclus Group, shares must be suspended NOW

Technology Minerals (TM1) published its interim results for the six months ended 31 December 2023 today which showed a loss of £1,476,000 and net assets of £20,639,000. They are erroneous and need to be restated as do last year's finals and that throws its plans to get the FCA to approve an RTO prospectus into disarray. I shall be reporting Technology to the FCA and FRC today. So here is why this company co-founded by disgraced Chris Cleverly has breached the rules and why its shares should be suspended which, given its reliance on death spiral funding, could well trigger bankruptcy...
SOLI
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Solid State – results “expected to be ahead of consensus expectations”, but how sustainably?…

Electronics products for specialist and harsh environments company Solid State (SOLI) today commences a “trading update” with that it is “pleased to report a record year in FY24 with a strong trading performance towards the end of the year”. So why a current share price response towards 1300p, down more than 6%?
BMS

Braemar – full-year “in line with market expectations”, remains a value BUY

Shipping and energy markets services company Braemar (BMS) has issued a trading update commencing that it “is pleased to report that the group has achieved another strong performance, with revenue and underlying operating profit for FY24 in line with market expectations”. So how good is this news from a now up to 257p to buy the shares?
SYME
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The fraud Supply@ME issues another 1.5 billion worthless shares to Zamboni: more smoke and mirrors vicar?

The long running farce continues with more shares being issued, no more cash being raised and Supply@ME Capital (SYME) still a fraud, generating SFA in revenues and technically insolvent. What is not to like? If only we had a world leading regulator looking at the Standard List where these worthless bits of confetti are traded.
CEY
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Centamin – positive 2023 results and a better outlook, Buy

Gold miner in Egypt, Centamin (CEY) has announced results for the 2023 calendar year emphasising that it was the third consecutive year of delivery into production guidance while beating all-in sustaining cost and capex forecasts, and reiterating 2024 gold production guidance of 470,000-500,000 ounces. This sounds like good news and the shares are currently up to 107p.
BSFA
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BSF Enterprises: time for a statement re bailout fundraise

The share price suggests that an element of panic is setting in. Is bucket shop Shard readying its client BSF Enterprises (BSFA) for the deeply discounted placing that it has already explicitly warned is on the cards.
KEFI
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Kefi Gold & Copper – General Meeting statement, “material milestones” ahead

Kefi Gold & Copper (KEFI) has issued a General Meeting statement emphasising projects progress in Ethiopia and Saudi Arabia, with a clear roadmap and to report material milestones along the way.
KETL
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Put the kettle on, it’s another disastrous trading statement from Strix containing a blatant porky

In August 2021 shares in the company claiming to be revolutionising the world of kettles, Strix (KETL) were 375p. Today they are 62.5p after yet another disastrous statement. Old father time, Malcolm Stacey, was a fan but Steve and I warned you time and time again. Let’s start with the dividend. It’s been axed.
AAU
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Ariana Resources – Resource And Reserves Update Which Poses Me Questions, But Still A Buy

AIM-listed Ariana Resources (AAU) this morning announced a resource and reserves update regarding its Kiziltepe mine and the forthcoming new plant at Tavsan. At one level, this morning’s news underlines just how cheap the shares are. But on another, it has confused me and as an uber-loyal shareholder, if I’m worried about clarity then others will be too.
CML
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CML Microsystems – profit warning, how loudly did it previously ‘sound a note of caution’ really?…

December-announced half year results from “semiconductors for global communications markets” company CML Microsystems (CML) emphasised “the financial and operational progress made during the period has been pleasing and gives the board a great deal of confidence as we continue to deliver value to our shareholders”. That was with the shares then at above 380p, but the HotStockRockets website noted in February industrial markets conditions concern and the shares were sold from the portfolio there at 394p. They most recently closed at 373p… and what of today a “trading update” currently seeing them down to 320p?
Bearcast
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Tom Winnifrith Bearcast: Mr Market's mood swings, Caracal nonsense and I just can't get excited about Fevertree

I discuss Mr Market and Optibiotix (OPTI), why you need zero exposure to hospitality stocks, Caracal Gold (GCAT), and Fevertree (FEVR).
OPTI
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OptiBiotix Health – discounted EIS placing, target price cut but still 85p

OptiBiotix Health (OPTI) has announced a £1.35 million placing with CEO Steve O’Hara arguing “given the scale of the opportunities, the board has decided to raise additional capital to capitalise on these growth opportunities and build shareholder value”. It hasn’t got off to a very good start – the news sending the shares more than 11.5% down to 21p. But this is an EIS raise, the last OptiBiotix will be able to do, so suggestions of flipping are just wrong.
SBTX
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Skinbiotherapeutics – no I cannot explain the shares spike but, caveat emptor, CLG effectively has the cuffs off

Why on earth are shares in Skinbiotherapeutics (SBTX) up by 32% at 11.25p today I am asked. Do not get me wrong, I am not complaining. My breakeven on this one is c16p and I’d be over the moon if all comes good and I can start deciding which goats to buy as I explained HERE. But….
BEN
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Ben’s Creek: Further debt drawdown, credit card now maxxed out, when will the shares be suspended?

On February 9 Ben’s Creek (BEN), already drowning in c$40 million of debt and liabilities, announced that it needed an emergency loan of $5 million from its 29.9% shareholder Avani just to keep the lights on. Five quickly became ten and today it was announced that the final $1.25 million of that enlarged facility had been drawn down. Ben’s now has c$50 million of debt and liabilities and still seems to be burning cash. But the Avani credit card is now maxxed out.
NGHT
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Revolution Bars v NightCap a quick comparison

Revolution Bars (RBG) looks to be pretty screwed, as I noted earlier. But Sarah Willingham’s Nightcap (NGHT) is also a great bet to gig with the Fat Lady though it is still in denial. But the comparative valuation metrics here will be touted by some.
CEL
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Celadon: this CULS malarky smells all wrong, a £53m short!

I have been a bear of Celadon Pharmaceuticals (CEL) since last March when the shares were c 150p. My scepticism caused much consternation for its PR bird Sarah McLeod who called to complain bitterly that I had ruined some feminazi lunch she’d been attending with what she termed my “daily hit job.” Or put another way, an article she had not actually read. The shares are now 85p but something still does not stack up. I do hope there is no FemiNazi lunch planned for today…
ZOO
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Zoo Digital – now expects to beat full-year market guidance, but how much of an achievement is that?…

Previously writing on group describing itself as “a leading provider of end-to-end cloud-based localisation and media services to the global entertainment industry” Zoo Digital (ZOO), in July with the shares falling below 75p I concluded that slashed forecasts and the outlook uncertainty still weren’t fully reflected in the valuation and to certainly continue to avoid. The shares most recently closed at 22p, but what of them currently bouncing to above 28p on the back of a latest “Trading Update”?

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