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VOD
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Vodafone – “Sale of Vodafone Italy and capital return”… and a halved future dividend!

“Sale of Vodafone Italy and capital return”-titled announcement from Vodafone Group (VOD) today, which describes this as “the final step of the portfolio right-sizing announced in May 2023”, and what about the shares currently over 6.5% higher in response?
HZM
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As per normal, Horizonte’s bad news is saved for nobody is watching O’Clock

When, not if, Horizonte (HZM) shareholders are finally wiped out I bet that the good news is saved until after the market is closed. That is its wont. And thus at 4.40 PM yesterday after most folks had switched off their screens, the company served up another piece of bad news.
WSBN
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Richard Poulden: how can you make these claims?

Getting a kick out of financial masochism I am still a shareholder not only in Red Rock Resources (RRR) but also in Richard Poulden’s Wishbone Gold (WSBN). I expect nothing but further pain from both. Whack. Whack. Mistress Red Rock beats me again. Today it is the turn of Domanatrix Wishbone to have a go with a drilling release about its Cottesloe project in the land of High Culture, where two thirds of the population are not descended from convicts.
BIOM
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Biome Technologies – “Contract win for Stanelco RF Division”. Er, how tight is the balance sheet position though?

Describing itself as “a leading bioplastics and radio frequency technology business”, Biome Technologies (BIOM) has issued an announcement today commencing that it “is pleased to announce that its RF Technologies division has been awarded a further contract win” and including that “this important order results from the division's ongoing strategy of diversification beyond its traditional strength into new high-value medical market areas”. How “important” does the order look from the valuation from a current 107.5p share price?
Bearcast
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Tom Winnifrith Bearcast: Come on you 'tabs

This is recorded early as I am off to Cambridge for the Ladies Varsity Football match to cheer on daughter 2. When Darren uploads this is a different matter. I discuss liquidity and a small cap rerate, the laudable career of Michael Carvill at Kenmare (KMR), Chill Brands (CHLL), Zephyr Energy (ZPHR) and, in detail, the shenanigans at Alien Metals (UFO).
GPL
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The curse of Roby Zomer strikes again – the man with the reverse Midas touch

The downfall of MGC Pharmaceuticals (MXC) has been well documented on this website since I published a detailed dossier 18 months ago when it was valued at £70million. Those who backed its founder Roby Zomer rather than my analysis have lost 99% of their moolah. But MGC looks like a great British success compared to Zomer’s other effort, Graft Polymer (GPL), floated at 21.5p less than two years ago, its shares are just 0.16p after another disaster today.
IQE
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Thank the wretched Mail on Sunday for giving you an IQE short entry point

The market did not really care that Richard Griffiths had increased his stake in IQE (IQE) to 7.6% on Friday. The shares were marked down a tad. Griffiths is a smart operator, but like all of us he is not infallible. But the Mail on Sunday bigged this up at the weekend.
MAX
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Boardroom merry go round at MaxRets Ventures more red flags vicar?

I have already highlighted the appalling financials at MaxRets Ventures (MAX) one part of the empire of worthless companies or outright frauds created by the Dominic White/Carrado Coen/Allesandro Zamboni gang. Now vicar it is time for some boardroom red flags hoisted today.
MTL
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Metals Exploration – recent very strong share price performance, bank more than 95% gains?

We most recently wrote on gold producer from the Philippines Metals Exploration (MTL) towards the end of January, noting with the shares at a 2.8p offer price, approx. $75 million market cap, that the more than $10 million net debt reduction for even the latest quarter and the $19.9 million remaining net debt suggested value and a 4p+ near-term share price quite possible here.
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Brilliant new Dominic Frisby video "Let's Synergise" for anyone who has ever endured Corporate Life

If you have ever worked as a corporate dude in the era before WFH you will love the latest video from my pal Dominic Frisby, out just last night. Let's Synergise. It is superb.
  • 15 March 2024, 08:25 |
SMRT
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SmartSpace Software – recommended offer, a deal it should be “pleased to announce”?

SmartSpace Software (SMRT) is “pleased to announce” that it has agreed a cash offer for 90p per share from Florida-headquartered ‘workplace enablement’ software and analytics company Sign In Solutions Inc., stating that it “believes that the cash offer would provide SmartSpace shareholders with an immediate realisation of this future value potential in cash at an attractive premium to the undisturbed share price”. How “attractive” does the recommended offer look?
Bearcast
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Tom Winnifrith Bearcast: screwed by Trainline

In today's podcast I discuss Trainline (TRN), Versarien (VRS), Optibiotix (OPTI), Red Rock Resources (RRR) and its Aussie shitshow, ECR Minerals (ECR) and Skinbiotherapeutics (SBTX)
MMAG
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Letter to AIM Regulation: Surely musicMagpie must come clean?

Yesterday musicMagpie (MMAG) released dismal results showing debt increasing alarmingly and it on the brink of breaching one of its key banking covenants. But there was no mention of the supposed process of finding a bidder. It is spoofing, its silence speaks volumes but it should be forced into making a formal statement. I have written to the Oxymorons at AIM Regulation
MGAM
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Morgan Advanced Materials – 2023 results, recovery and income BUY

Carbon and ceramic materials manufacturer Morgan Advanced Materials (MGAM) has announced its results for the 2023 calendar year headlined “Results in line, business simplification announced, higher growth outlook”. How good is this news from a 266p share price, £759 million market cap?
OPTI
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Optibiotix: Its biggest contract ever! STRONG BUY to more than double in 2024 and quadruple in 3 years

This contract should not be a complete surprise as it was alluded to in the recent Steve O’Hara & Tom Winnifrith video HERE. At that point O’Hara was 90% sure it would be signed. Now it has. It is amazing that shares in Optibiotix (OPTI) are not racing ahead on this news. They should be. At 24.75p they are a STRONG BUY.

CPX
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CAP-XX – “Update on litigation”, does it even have “the coming weeks” to negotiate a settlement?

Describing itself as “a world leader in the design and manufacture of supercapacitors and energy management systems” (despite a recent half-year increased loss on revenue of just Australian$2.3 million!), CAP-XX (CPX) has now announced that “Maxwell will be applying to the Court for a further extension of time to lodge an application for a claim of costs against CAP-XX before the end of the current week” though adding that “to emphasise, this filing is purely procedural and does not substantively impact CAP-XX”. What about that and shares in CAP-XX currently further down below 0.07p in response?
WCAT
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Wildcat Petroleum: with hindsight does it regard the October 16 2023 statement as “true and accurate”

Having dealt with its bogus profits and inaccurate interims earlier, I now turn to the RNS issued on 16 October 2023 by Wildcat Petroleum (WCAT), a company that lied in its very first RNS as a listed company. With hindsight was the statement of 16 October also a lie or, at best, misleading?
ETP
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Eneraqua Technologies – year “started in line with its expectations”, but what happened last year? And CFO “stepping down”

Previously writing on energy and water efficiency provider Eneraqua Technologies (ETP), in December I noted energy project delays and concluded with the shares down to 47.5p still an avoid/sell. So what about a “Year End Trading Update and Directorate Change” announcement from the company today helping the shares currently approaching 13% higher back towards 45p?

WCAT
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BREAKING: Wildcat Petroleum – Reports a made up profit and other schoolboy accounting blunders

In the six months ended 31 December 2023 Wildcat Petroleum (WCAT) reported a profit of £131,000. I suggest that it did so by breaking accounting rules and that was not the only schoolboy error in today’s interims.
VRS
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Versarien: mug punters going nuts in Brazil

Versarien (VRS) has signed a licensing deal in Brazil for its graphene products and its shares have raced ahead by 23%. But this deal is not Brazil nuts it is peanuts in monetary terms and does SFA to stop the headlong rush to insolvency.
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