Hello Share Takers. One wizard ploy when contemplating ways of making money from a falling market is to research companies that should benefit from the various crises now besetting the world. One such issue is the rising price of food. Which leads me to a futuristic outfit called Agronomics (ANIC).
In today's podcast, I discuss Elon Musk and Twitter; Vast Resources (VAST) & associated scumbags; Optibiotix (OPTI); Condor Gold (CNR) and why comrade Jim Mellon must pay up soon; and the complete and utter Irish jackanory spouted by Hydrogen Utopia (HUI) and Powerhouse Resources (PHE): those holding shares in either company are certifiable. We are now just £68 away from £10,000 in the Rogue Bloggers for Woodlarks (plus gift aid) fundraise. On Sunday, I really will do a 20-mile training walk. If you are amongst the 96% of listeners yet to donate, please do so today, HERE.
It is now just 7 weeks away, and I really must start training as soon as I am back in Wales. I hope that my fellow walkers (Miers, Basham, Basham's trainer, Bell, Moore and two readers of this website who seem frighteningly keen and fit) are better prepared. Anyhow, train I will, for it is a great cause. We have now raised 4% of our £50,000 target, but, fear not; I shall be begging almost daily from now onwards.
I start with a few words on some odious remarks made by Ukranian President Zelensky and a few more on Radio 5 Live Rugby commentary which was just so bad it was off the scale. Then it is onto share buying which is a sell signal, referencing two Nigel articles this weekend on UK Oil & Gas (UKOG) and Advanced Oncotherapy(AVO) but bringing in incidents at Amur Minerals (AMC), Nanosynth (NNN) when it was the Strat Aero fraud and Jim Mellon’s Condor Gold (CNR)
Seed Innovations (SEED) has noted an announcement from portfolio company Little Green Pharma (ASX:LGP) emphasising “record quarterly revenue and cash-receipts, with ~$3.7 million revenue (unaudited) and $4.9 million in cash receipts” and that it is looking forward to a positive 2022 from Little Green Pharma with further progress and news flow.
Thursday night sees another back slapping awards ceremony where the crony capitalists who grow rich floating shite on AIM, Aquis and the Standard lLst congratulate themselves on another year of screwing mug punters. This is the Small Cap Network awards now owned by Master Investor, prop. my good pal Jim Mellon. Jim, I am gutted…
Manx Financial (MFX) the AIM listed bank based on the Isle of Man, where my pal Jim Mellon is the second largest shareholder and also the chairman, has announced a raft of board changes. No offence intended Jim, but from a G as in Governance perspective this sucks. Now Manx is very well and conservatively run so this is not suggesting anything is amiss but it is how it looks.
Aquis listed Pioneer Media (PNER) run by serial promoter and related party deal specialist Mike Edwards or, as he now likes to be known, “Mike Edwards”, has put out a release today about the acquisition of CryptoPunk 8869 in Canada. It is pure unadulterated gobbledygook but that is the point. I have asked several very smart folks including the Dark Destroyer and Jim Mellon if they understand it and can explain it but they cannot. Neither can I. But few are brave enough to admit it and so the narrative that this makes sense, that the Emperor’s New Clothes are just splendid goes unchallenged.
The top non-Tom article this week is Castings – profit warning… but only for the near-term?… by Steve Moore at number eight or number 14 if you include the Bearcasts.
You may remember that Rivington Street had the chance to dramaticaly improve its finances by selling the t1ps businesses, including Master Investor, to Nigel Wray for half a million quid back in 2012. A deal was signed and agreed and then poor Jim Mellon was persuaded that this busines,s which had always been profitable with me in charge, would be so much more profitable if left in the hands of Richard “Gollum” Gill and a clown called Mark Robertson rather than useless old TW. Sadly for Jim he believed Gollum et al. It started losing cash at once and that dragged Rivinton over the edge. Nine years later we have the latest accounts for what is now the Master Investor Group which is wholly owned by Jim. Ouch.
FastForward Innovations – now Seed Innovations (SEED) – was a recommendation last year on the N50 website which also features writers here Tom Winnifrith and Steve Moore. That was at a 6.2p offer price, noting the discount to NAV looked severe and looking for operational progress and increased interest particularly in the health area to propel NAV forward again. Little more than two months later the shares had already reached 12p to sell despite the company then stating “it is naturally a more challenging market for fundraising, which could delay the roll-out of future growth plans”. We banked gains, but there has been operational progress, though the shares are currently available at an 8.4p offer price.
I start by flagging up my latest Greek Hovel photo article. In just a few weeks I shall be back and cannot wait. I explain why I write about the place. Then I move to Amigo (AMGO), the fraud Zoetic (ZOE) and the fate of those placing shares, Agronomics (ANIC) and then asking if my mother-in-law is a canary in a coalmine where all sorts of bubbles are set to burst.
This gets more insane by the minute. Wildcat Petroleum (WCAT) shares are up by another 22% at 3.35p today valuing this company which listed with a £2.4 million valuation on December 30 at an astonishing £80 million. The founder, who paid £35,000 for his stake just fifteen months ago now sits on shares valued at £56 million. Move over Nigel Wray, Jim Mellon et al… Mandhir Singh is Britain’s real Buffett!
It’s not that often that the opportunity arises where a retail investor can buy into a revolution. Call my language hyperbolic if you wish but hear me out first.
Agronomics (ANIC) describes itself as “a leading listed investor in alternative proteins with a focus on cellular agriculture and cultivated meat… these technologies are driving a major disruption in agriculture, offering solutions to improve sustainability, as well as addressing human health, animal welfare and environmental damage”. So, very green shite… but very in tune with market sentiment currently, with recent news which suggests this sector is starting to take off…
I have long since stopped blaming Jim Mellon. He is more of a victim of bad advice than I was in this matter. My old company had the chance to sell the Master Investor show and its profitable financial publishing business to Nigel Wray. At the last minute, Jim was persuaded by staff, notably Richard “Gollum” Gill, that it should not sell and investors were told that problems were down to the old management (i.e me) and that new management was turning it around. Wind forward eight years.
This piece comes from management consultants McKinsey. Thanks to comrade Jim Mellon for sending it over. It serves as a simple reminder of keys to successful investment. The section on bad management is something many AIM gamblers might wish to ponder.
The most read non-Tom article this week is Possibly the Most Difficult Decision in Shareland at Present...Avacta by Malcolm Stacey is at a fulfilling number five or number 12 including Bearcasts and Tom's new shareshow.
It was back in 2011 that I helped float Port Erin (PEBI) on Aim and indeed I was a director until 2012 when my stint as a crony capitalist ended in tears and failure. Today that company, now known as Agronomics (ANIC) is to delist with my fellow co-founder, Jim Mellon backing a take private move. Jim is doing the right thing. But is there a trading arb now opening up?
I start with a few words on the hard working, courageous and heroic teachers. Then it is Barry the Tit from Turner Pope who cannot read and insults the professionalism of Gary Newman but raises a wider point about how AIM and brokerages operate. Barry is a tit but I regard his employer as Best of Breed although if I had my way the breed would not exist if the Casino was run according to new rules I suggest. Finally a look at the idea from Eric "snotgobbler" Platt of the Financial Times that the greatest living investor, Mr Warren Buffett, might be past his sell by date. Hat tip on the last point to Jim Mellon.
I start by thanking both Jim Mellon and Nigel Wray who have eached pledged £1000 to Rogue bloggers for Woodlarks, ahead of June 13 when I shall be walking around my fields here in Wales. Woodlarks needs £48,000 to survive the year. We have now raised 17% of that, please can you make a donation, however small, today to get us closer to target. Please give HERE. I then launch into a heartfelt defence of Roger Lawson of Sharesoc over what appears to be an undeclared related party deal at the organisation that campaigns for improved corporate governance and transparency. Then I look at Imperial Brands (IMB) and First Derivatives (FDP), one a stonking long the other a stonking short.
The great show is almost upon us. You can still book tickets HERE and we will be upo all night processing. If you have booked but not received a ticket pester Darren on editorial@shareProphets.com . The videos interviews of 30 CEOs with me, six share tips from each of our writers and two dozen book reviews are up all day. But on the main stages and in the experts room speakers come on one by one so to plan your day, here is the quite amazing schedule. You really want to book a seat if you have not already. Remember all content will be up until Christmas but the chat rooms to engage with speakers are up just for the show itself. so BOOK HERE
I have now created more than 60 hours of video for TOMORROW’S event, what may be the only big investor show in Britain this year, and I cannot tell you how proud of what has emerged. We lead with some of the biggest names in investment presenting and/or facing a grilling from me. But there are also tipsters full of ideas long and short and 30 PLC CEOs facing the same grilling. I was impressed by many of them but one stood out…
If you have not bought a ticket for the greatest ever investor show held in Britain, this Saturday May 9, I suppose the answer is YES!. Congratulations! You are a genius. The best short sellers in the US and the UK have no guidance for you on how to spot disasters to either short or just to avoid, have nothing to teach you and you don’t want to hear any of their ideas as you know better. I bow to your wisdom.
If you have not bought a ticket for the greatest ever investor show held in Britain I suppose the answer is yes. Congratulations! You are a genius
I have been organising investor shows for almost two decade but on Saturday May 9, I have assembled the most amazing line-up of my career and am bringing them direct to you in your living room. Some of the stars will do a formal presentation, most will face me in two way interview.
This is my day of peak recordings - 7 hours of interviews and bearcast underway. I kid you not. apart from bearcast it is all great material for the Shareprophets shares show on May 9. I have just done the Jim Mellon recording which should knock your socks off. Poor man, he is trapped in lockdown in the Isle of Man but seems to be bearing up well. Anyhow, buy your ticket HERE. In this podcast I look at Eurasia Mining (EUA), Scancell (SCLP), 13 Energy (I3E), Arden Partners (ARDN), Petra Diamonds (PDL) and Intu (INTU).
The Coronavirus lockdown has meant the two big investor conferences have been postponed. But as a one-off alternative I have assembled the greatest ever speaker line-up for British Investor Show – welcome to the ShareProphets Shares Conference, a true online extravaganza on May 9. From both the UK and US some of the biggest names in investment will be telling you what they are buying, selling, shorting or avoiding. There are so many stars we need two main stages where you can hear:
Fear not you do not need to break lockdown. The event is online and for £9.99 you get access to a line up of stars of the investment world never seen before at a UK show. It really is all star. Carson Block, Gabriel Grego, Mark Slater, Jim Mellon, Evil Knievil, Vin Murria, Peter Hambro, Sam Antar, Adam Reynolds, Luke Johnson, me, Chris Bailey, Dom Frisby, Paul Jourdan, James Delingpole, Malcolm Burne, Chris Bailey, all the team here at ShareProphets, Matt Earl, Lucian Miers, Peter Hambro, the list goes on. As well as the star speakers there is also the Sith Lord Zak Mir and 30 PLC CEOs will also present. Doors open at 8.30 AM amd there will be chatrooms to engage with many of the speakers and each other open all day. And your ticket will give you access to all the videos right up until Christmas. The booking section of the site is secure ( see the padlock is present) and you can book your seats now & get more show details HERE
Want to placate your investors and even normalised EBITDA (bullshit earnings) still looks bad? Well here is a coffee mug for many FDs flagging up another possible adjustment. With a hat tip to Jim Mellon for this spot...
I had a long chat today with my stockbroker, City veteran A. Laiker Esq on what it is like working from home. He loves it. I sense so do many others. I have loved it for years, being essentially a miserable and anto-social bastard. Companies will also love this new trend in the post Covid era and i discuss its implications. I look at Intu (INTU) and what an awful position it is in. The shares are a zero but discuss the whole sector. I run through the latest rumours on Ascent (AST), reveal that it is Novum Securities that has welshed on a £200,000 commitment but report another (bad news) rumour that Ascent needs to comment on. I look at a good deal for Webis (WEB) but think my old pal Jim Mellon is taking the piss with his view of who qualifies as an "independent" director. Then onto the markets where we have another bad news is good day and finally the prize contest relates to the utterly shite results of Online Blockchain (OBC) snuck out at no-one is watching O'clock yesterday alongside the pretty shite numbers from sister company ADVFN (AFN)
I start with a lecture for Graham Neary. then I look again at Jim Mellon's Agrinomics (ASPI) after today's placing. I explian why I scratch again at the sore that is Versarien (VRS), look at Finablr (FIN), LightwaveRF (LWRF) and the next Chris Akers spoof Dev Clever (DEV)
Dickhead of the decade George Monbiot of the Guradian has a book to plug and is all over the radio. Oh, which decade you ask? Every decade. Anyhow I have swapped emails with Jim Mellon on this as it concerns his company Agronomics (ANIC) which really interests me. I think today;s interims show the shares, at 9.25p are expensive but at a lower level there is a case for buying as I explain. I also look at Oracle (ORCP), correcting an error I made yesterday, Lekoil (LEK), Lamprell (LAM) and urge you to start donating to Rogue Bloggers for Woodlarks HERE.
FFS it is not Season's Greetings but Happy Christmas. Please do not wind me up with any more Godless messages. Thanks to Jim for flagging up what should be a parody, but sadly is not, Neil Woodford's next business venmture. The I look at Bidstack (BIDS), NMC Health (NMC) and Circassia (CIR), two of which are surely good bets for bankruptcy in 2020.
BigDish (DISH) “is pleased to announce that it has reached an agreement with NFS Technology Group to integrate BigDish within its Point of Sale software solution for restaurants” – noting “NFS Technology Group have been operating for over 20 years and has over 1,500 clients”. The shares are though currently more than 4% lower on the day at 3.25p. Hmmm…
In yesterday's Bearcast, Tom talked about some of the outlandish claims in this article covering my favourite company, We Work. WeWork (actually known as the We Company) is attempting to IPO in the US. Let me highllight some of choice bits of the article that Tom didn't get into.
Jim Mellon says he loves listrening to my podcasts and has sent over a very interesting article following the pulled We Work IPO which I discuss at length. The into PureCircle (PURE) which Lucian has called brilliantly, notably here. Yesterday's shock warning tells us so much about the disgraceful apathy of folks like Numis and PWC when evidence of aggressive accounting was there for all to see over many years. I discuss another company shown to be swmming with no trunks. It will not be the last.
I reflect on the annoversary of 9/11. I ponder points raised in today's ShareProphets radio show with Carson Block and Anthony Laiker about bull market complacency to fraud. In that vein I use Tesla (TSLA) and the legal case below as a case study. I look at Neil Woodford's latest £12.5 million woes answering reader feedback. I look at Catennae (CTEA), Riverfort Global Opportunities (RGO) and my pal Jim Mellon's Fast Forward (FFWD). I also comment on the latest Burford (BUR) news.
This week is another chart, from Visual Capitalist, on commodity trends, for what it is worth. Are we in a new Supercycle?
In today's bearcast I touch on the antics of two of the City's brightest lights. First up is Agronomics (ANIC), where my old friend Jim Mellon is the largest shareholder and the price of cultured pork sausages in 2021, then it is onto disgraced Neil Woodford and Woodford Patient Capital Trust (WPCT).
#BoycottHomeDepot is trending on twitter in the US. If you are in the land of the free I urge you to do the reverse. In fact go buy an extra hammer for me today. Then I look at Thomas Cook (TCG), Sound Energy (SOU), Eve Sleep (EVE), the woes of my old friend Jim Mellon's SalvaRx (SALV), Union Jack Oil (UJO) and, in detail, at FinnCap (FCAP) whose results are out today. Mea culpa on Eve, it is actually worse...
A tiny AIM investment company called Agronomics (ANIC) suddenly seems to have become very popular, but I think you’d have to be mad to be paying the current share price. If we look at it under its previous name of Port Erin Biopharma Investments (PEBI), before the recent change to Agronomics, it immediately becomes apparent that its main area of investments is in the pharmaceutical sector, with several listed and non-listed holdings...
Agronomics (ANIC) is an AIM listed firm which knew full well on Friday that it was set to raise £4.5 million at 5p - as against a 5.5p mid. So here is what to do. Leak the story to the fraudsters fave journalist, Ben Harrington, who will give it an utterly misleading write-up in the Mail on Sunday in return for the "scoop." MoS readers fill their boots on Monday and the shares move higher - they are now 6.5p. So Harrington and the Fail on Sunday get another "scoop", the Spiv clients of broker Peterhouse get to flip the stock and thank Peterhouse which earns 5% to pay for the coke and hookers and the company is cashed up. The only folk who get screwed are readers of the Fail on Sunday who are buying shares on the basis of completely fake news.
The deadwood press was fawning as a pack over Neil Woodford until relatively recently. For a long time myself and other other writers here, notably Cynical Bear and Nigel Somerville, were lone voices in the wilderness though our analysis was spot on. But in recent times Neil has lost most of his makes but some still stayed loyal.
The threat of a photo of Dan Levi's Y Fronts post sore bottom training walk remains, so please donate to Rogue Bloggers for Woodlarks HERE. In today's podcast I look at Condor Gold (CNR), the struggling explorer backed so heavily by my good friend Jim Mellon. It looks to be in real trouble. Then good news for Neil Woodford. As of today I am a loyal shareholder in his Patient Capital Trust (WPCT) and looking forward to the AGM greatly. I have a favour to ask of bearcast listeners living close to Oxford who fancy a day out in the City of Lost Causes in late May or early June.
In today's bearcast I discuss I3 Energy (I3E), Redde (REDD) and hapless Neil Woodford, Concepta (CPT), Optibiotix (OPTI), Yourgene (YGEN), Big Sofa (BST), Mirriad (MIRI) and Mothercare (MTC). If you enjoyed this, less than PC, bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In today's bearcast I look at Widecells (WDC), RM2 (RM2), Kier (KIE), Tomco (TOM), Northern Bear (NTBR), Driver (DRV) and Regency Mines (RGM). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
I start with the utterly shite journalism of Jeff Presstrip in the Mail on Sunday which disgraces our profession as I explain HERE. Then it is onto Neil Woodford and two issues. First why HL just cannot tell its dumb clients to sell and, secondly, why the yield on the flasgship EIF will plunge from 4.1% today to something starting with a 2 within a year, if the fund still exists. That is by no means a given. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In today's podcast I look at Neil Woodford's latest disaster Redde (REDD) where i accuse the management led by Avril of recklessness. I believe that she is guilty of the same at BCA Marketplace (BCA) and explain why that is the next car crash for Neil Woodford. Then there is a note on GVC boss Kenny Alexander whose behaviour last week marks him down as a prize shit. And that is me being charitable. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In this bonus bearcast I discuss breaches, intentional and otherwise and all the sorts pf percentages that the FCA will be demanding Neil Woodford provide on, I suspect, a now daily basis as his funds continue to implode. I play our various scenarios but none look good for Neil. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
I trust that you are celebrating this day in a culturaly appropriate manner. I merely commend to you the tweet of the activist Titania McGrath and also commend to you her book "Woke" which out yesterday. I have given copies to the Mrs and daughter Olaf to celebrate IWD with them. I also look at Own Goals Soccer Centres (GOAL), idiot knobs and Big Sofa (BST), Andalas (ADL) and Flybe (FLYB). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In today's bearcast I discuss Neil Woodford's spivvery regarding Provident Financial (PFG), have a smoking rumour on Argo Blockchain (ARB) - which we own - comment on I3 Energy (I3E) as it dissembles and look at Quiz (QUIZ) and Sosandar (SOS) as well as Metals Exploration (MTL). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
Forgive the title. It is the new song by my pal Dominic Frisby which you can see below. It covers Brexit and is, I think, rather funny, no: it is pure genius. In my podcast, I look at Red Emperor (RMP) and the other Winx plays, Mirriad (MIRI), FinnCrap (FCAP), Akers Biosciences (AKR), Independent Oil & Gas (IOG) Nautilus Marine (NAUT), a real dog, and finally I have a hot deeply discounted placing rumour on I3 Energy (I3E). If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
I cover WH Ireland (WHI) and the crisis engulfing the small cap world in a serperate bearcast HERE but touch on its downfall in the main bearcast. I look at Mirriad (MIRI) which needs to fess up as to how much cash has not yet been spunked, Rose Petroleum (ROSE) and insolvent Cabot (CAB) and the panic sells created by the demise of City Financial Investments, the bid for Independent Oil & Gas (IOG) and at Debenhams (DEB) where the worst is yet to come. If you enjoyed this bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
In today's podcast I look at Rightmove (RMV), Cluff Natural Resources (CLNR), Red Emperor (RMP), Pantheon Resources (PANR), 88 Energy (88E) and Gear4Music (G4M). Now I want you to consider Jim Mellon. I am not always that kind to him but he has today pledged a material sum to sponsor the Rogue Bloggers walk for Woodlarks for which I thank him greatly. If Jim can do that so can you, I am sure all listeners can spare a tenner (or more) so please donate HERE
Dan Levi reckons that I was being beastly about Dev Clever PLC to sell it a stand at the UK Investor show. He says so without listening to what I actually said. Maybe I am also trying to flog stands to Telit, Accesso and Westminster Group? Oi fatso Baldry if I mention the 3DM fraud again will you take a stand at a show I don't actually own. Whatever... In this podcast I also cover Telit (TCM), Blue Rock Diamonds (BRD), Jim Mellon's SalvaRX (SALV), Accesso (ACSO) and Windar Photonics (WPHO). It is silliness like this that make me want to call it a day sooner rather than later.
In this podcast I discuss Condor Gold (CNR) where my good pal, the offshore based asset stripper Jim Mellon, now officially has his hat-trick of spoofs, CML Microsystems (CML) - its valuation post warning and what it says about the biggest single threat to your shares - the wankers at the Evening Standard, my breaking news on Daniel Stewart (DAN) and why I again shout #Learntocode at the deadwood press. Finally Cabot (CAB) has postponed death by a month but its statement misleads and I explain why.
In today's bearcast I explian where I was yesterday afternoon with Joshua. Roaarrrr! Then I look at Condor Gold (CNR), Galantas (GAL), Amur (DOG), Flybe (FLYB), Asiamet (ARS), the spoofing by the loathsome & always wrong CBI and at Frontera Resources (FRR) and why it could be a zero within days.
Warning there is plenty of bad language in the podcast - perhaps do not play it in front of the kids. I start with an update on those bastards at Barclays (BARC) who I discussed yesterday. I then look at Victoria (VCP), Jim Mellon's Port Erin (PEBI), two SP Angel dogs MySquar (FRAUD) and BjueJay Mining (JAY) and have new and serious questions for the shamed Nomad to consider. I look at Frontera (FRR) and its looming bailout placing, at Ascent Resources (AST) and at Rainbow Rare Earths (RBW). I also discuss the market sell off commending a reader who notes both my genius and my modesty on this matter.
It is Oxi day here in Greece and I explain the historic context of that which brings me to why the EU has enabled conman Darren Winters to keep cheating the vulnerable and parting them from their money. I then look at Crawshaw (CRAW), Blue Jay Mining (JAY), Great Western Mining (GWMO) which is the ultimate penny dreadful, SalvaRx (SALV) and VR Education (VRE). And I should warn my old pal, the offshore based asset stripper, Jim Mellon that I have more bad news for him over the weekend.
Oh dear, oh dear. After my old offshore based, tax averse, pal Jim Mellon saw guests speaking to a near deserted hall in 2018 you wondered what the next disaster from his Master Investor show would be. Well the old asset stripper has just published calendar 2017 accounts and they are the grimmest yet and come with a stark warning that the game may be almost up.
Our Winnileaks Matt Earl special on First Derivatives (FDP) has set the cat amongst the pigeons. But I have bad news for the men from God's chosen lands of Ulster who run First. I have more and hope to air soon. Ho ho ho. Get the ouzo and ice ready. In this podcast I also cover spoofing at BlueJay (JAY), Fastjet (FJET), Frontera (FRR), the scandal at Indigovision (IND) which is enough to have us all voting for Jeremy Corbyn, Mayan (MYN) and, in some detail, Condor Gold (CNR), the gold dog which has sent so much of the cash of my good pal Jim Mellon to money heaven. I fear Jim will have to get his wallet out again soon.
In today's podcast i look at tweets from Big Dave Lenigas which at every level would, in the US, see him heading for the cell next to the one being prepared for Tesla's Elon Musk. He just cannot substantiate what he is saying. I then look at Pantheon Resources (PANR), have a question about May 25 2019 and the Horse Hill Woodlarks walk, at Condor Gold (CNR), one of Jim Mellon's dogs, at Imaginatik (IMTK) at what price would I buy for Vin Murria? Finally there is a detailed look at Marechale Capital (MAC) a true AIM Casino POS. The goat milking video to which I refer is HERE and the latest Hovel photos are HERE
What I am looking from you this week, dear reader, are blurbs that I can use to promote subscriptions to ShareProphets. If you have found ShareProphets valuable, would you be so kind as to write a one-liner in the comments that I can put on the subscription page to knock over those on the fence?
In today's delayed podcast I look at the lessons for SalvaRx (SALV) from the Plethora (PLE) & Regent Pacific episode and ask what is happening at Regent as its shares continue to slide? I also look at the increasingly confused picture at Online Blockchain (OBC) and then ponder why CEO's should not be a guide to share prices or when to sell, ref Optibiotx (OPTI), noting also today's events at Skinbiotherapeutics (SBTX)
In today's bearcast my mind is a bit elsewhere as I explain HERE. But I cover SalvaRX (SALV), Optibiotix (OPTI), the fraud MySquar (MYSQ) and Falanx (FLX).
Tom covered much of the nonsense surrounding the FastForward Innovations’ (FFWD) placing last week (HERE) but I wanted to look at how Jim Mellon and Lorne Abony got themselves into that particular mess as they seem to have taken a couple of plays straight out of “star fund manager” Neil Woodford’s book.
In this podcast I look at FastForward (FFWD), Optibiotix (OPTI) - ouzo from Cynical on its way - Tern (Nigel will be celebrating with ouzo tonight) and UK Oil & Gas (UKOG). Tomorrow Lucian Miers has the treat of all treats for his godson Joshua so there may be no bearcast or maybe there will be a very early one.
The results which came out in early July made it clear to anyone who could do basic maths that Jim Mellon's FastForward (FFWD) would be passing the hat around shortly. Three ramptastic RNS's followed and today I can reveal that the company is on the road trying to raise £5 million in fresh equity.
Two days before the great Woodlarks walk for charity we reached our £20,000 target thanks to numerous donations big and small. Among those chipping in material amounts this weej were Mark Slater, Jim Mellon and my Mrs, and we thank them and you all. But we continue to ask those who have not donated to chip in as we up our target to £25,000 and here’s why...
Ok, I am back from a 22-24 mile walk which I shall write up tomorrow but if you could smell my feet? I know many of you hav e donated to Woodlarks ahead of next Saturday's 32 mile stroll by myself, Brokerman Dan and Lucian Miers and we have now raised £14,267.88 but to those who have not donated, PLEASE DO SO NOW HERE. In today's podcast I discuss the CBI talking Brexit shite again - it does NOT speak for British industry. I remind you we have no house view, ref Sosandar (SOS). I raise two questions arising out of a Saturday lunch Joshua and I had with Highland Natural Resources (HNR), notably who will back my new goat lending business. And I look at an ex Mellon stock, Okyo Pharma (OKYO), its valuation is a 100% rum and coke and I explain why.
Bearcasts may be sporadic over the next few days as I explain. By Wednesday I shall be mountain walking in Greece for my Woodlarks training. Think of me with the snakes and in 35 degree heat and donate HERE. Today I look at Optibiotix (OPTI), Audioboom (BOOM), Andalas (ADL), Frontera (FRR), Boxhill (BOX) and KPMG and in some detail at Jim Mellon's failing gold play Condor Gold (CNR).
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...
I start with the announcement late last night from FastFoward Innovations (FFWD) the overvalued investment company run by my good friend the offshore based asset stripper Mr Jim Mellon. I move on to the FRC dealing with Russell McBurnie the disgraced ex FD of RSM Tenon and discuss book cookers, fraudsters. Sam Antar theories and crime and punishment generally. I look at Akers Biosciences (AKR) where book cooking ahead of a placing is alleged, at Zenith (ZEN) and at LPA (LPA) where i would not bottom fish after today's warning for a variety of reasons. Then I note MySquar (FRAUD) is down to 1.15p and I ask John Meyer of SP Angel once more if he will act or is he happy to wash his hands and turn a blind eye to crime. Tonight is a 6 mile training walk and Joshua and I will do two miles this morning. With Gift aid my charity walk on July 28 has now raised almost £10,000. I explain exactly what that means to Woodlarks. If you have not donated, please chip in now with a tenner to get us over £10,000 HERE
I explain why the FD and CEO of FootAsylum (FOOT) must be fired at once after today's profits warning. I forgot to say that any company holding and announcing an "analyst teach in" - as Rob Terry used to do - is almost an automatic sell in my book and FootAsylum is an offender in this respect. I also look at FastForward (FFWD) and explain why I think Jim Mellon has sinned, albeit legally. I cover UK Oil & Gas (UKOG), Andalas (ADL) and McCarthy & Stone (MCS). In terms of the walk we are now well over £9,000 with gift aid and ahead of a training walk in the rain tonight I ask again. Most bearcast listeners are enjoying my suffering but are yet to help Woodlarks with a donation. Please, I am sure you can spare a tenner HERE
If anyone thought anything else other that FastForward Innovations was merely the personal investment vehicle for Jim Mellon and Lorne Abony to dip into at will, today’s massive related party deal with Mellon’s Juvenescence Limited puts it beyond any doubt.
Yes, today's training session for my Woodlarks charity walk is down at the gym run by local Tory stalwart Perry. Everyone else there is a muscular body builder. Then there is me. As the muscle men laugh at my pathetic efforts please donate a tenner ( as 95% of you have failed to do) to the 32 mile 28 July charity walk HERE. In the podcast I discuss rescuing junk mail from Oakley's piss and netting £922.77, Audioboom (BOOM) - do the maths, its looking dire even post placing for free speech denying worm Rob Proctor, Feedback (FDBK), Avanti Communications (AVN) and Inmarsat (ISAT), Jim Mellon's Fast Forward (FFWD), LightwaverRF (LWRF), PCGE (PCGE) and AIQ (AIQ).
As old Jim Mellon is such a good friend I thought I'd have a butchers. Is it because of more problems at the Diabetic Boot Company or is it a cash crisis at SalvarX (SALV) or at Regent Pacific? What is it about this related party nest of snakes that is making investors shun shares in Jim's Port Erin (PEBI)? I discuss in detail. I also look at MySquar (MYSQ) as the fraud skids to a new low, Ecsc (ECSC), the cyber junk play, FastJet (FJET) - another bailout placing ahoy - and old Clem's spoof Online BlockChain (OBC) as it tanks again. And then its RIP Conviviality (CVR), formal notice of wipeout for those who punt on the back of a brokers note and for other investors. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
What a great day. Telit (TCM) is under investigation by the FCA and Eqtec (ETQ) has really screwed up although why can't its PRs tell the truth for once and admit that its change of strategy was because I caught them all with their pants down and exposed them? This scandal begs real questions of Nomad Northland - hey chaps have you handed back the £75,000 yet? I also look at Optibiotix (OPTI) where last week's share purchase looks all the more prescient after news today. I look at Mosman Oil & Gas (MSMN) which is a dog whatever Zac Phillips is paid to say. I comment on Quartix (QTX) - insider dealing or bad luck? I comment on cash strapped SalVarx (SALV) - time for Jim Mellon to get his wallet out again methinks. And I look at Quadrise (QFI) where a placing looks inevitable after today's debacle. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
On 6th December I said that a token share purchase by Jim Mellon of shares on Condor Gold (CNR) was a spoof as it was so small for Jim. Moreover Condor was running out of cash and would do a placing within months. Mellon's PR man chewed my ear off. Well hey ho today there was a placing. A pattern of such spoofs and a subsequent placing has continued. Will I get an apology? I also look at lessons from Flybe (FLYB) and the non bid, at Fevertree (FEVR) director share sales, at UK Oil & Gas (UKOG) which is also spoofing, 13 Energy (13E) - "you say it best when you say nothing at all " - R Keating. Then I look at uber dog Golden Saint Resources (GSR) which is leaving AIM and says it wants to go to the Standard List. Lucky Standard List. I also mention our share purchase of more Optibiotix (OPTI). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
Two days, two bull articles on IQE (IQE). It has worked and I have been goaded here is is why Malcolm Stacey is talking bollocks. I also reference the fraud Eden Research (EDEN) in this discussion on profit being a matter of opinion and that is why cash matters. I discuss why being a liar is bad news as a CEO ref Mkango Resources (MKA) then tease Andrew Monk and Richard Jennings about Gulfsands Petroleum (GPX) - their oil analysis as bad as their Syria analysis on this occasion. Then it is onto Flybe (FLYB) and a detailed discussion of the looming cash crisis and joke valuation at Sound Energy (SOU). I suggest SalvaRx (SALV) run by my good friend Jim Mellon faces a bit of a cash issue. Then I explain why I have cut my UK Oil & Gas (UKOG) target price to just 0.25p making it, at 1.125p, still a slam dunk sell. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
If anyone from Jim Mellon's organisation wishes to visit UK Investor Show we give them admittance. But Jim's minions are desperate to stop us from seeing what a shambles and disaster his event yesterday has become. While Mellon's henchmen stopped Darren Atwater from attending we got another photographer in and what she produced shows why Mellon is so desperate to hide the ghastly truth about his heavily loss making event.
I gather from Andrew Monk that ShareProphets is banned in China - what could they possibly not like about this website? I give my views on China and also on the way that poor BMD has been robbed today. News of a shock resignation just days before he faces rows of empty seats sees me enjoy a cup of Schadenfreude at the expense of my old friend Jim Mellon. I look at Andalas Energy (ADL), asking it to comment on new reports of internal woes. I look at Eqtec (EQT) and MySquar (MYSQ) and also at Alumasc (ALU) and Sportech (SPO). 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!
In today's bearcast I start with a reader complaint but then he is a tosser so who cares? Then it is onto looking at the differences between the funding facilities at UK Oil & Gas (UKOG) and MySquar (MYSQ). I am bearish on both but the differences in the two packages are instructive. I look at Nature Group (NGR), Jim Mellon's uber-ramp FastForward (FFWD) and at Purplebricks (PURP) is the Neil Woodford bubble about to burst again, as even former supporters like Paul Scott admit my analysis was right and theirs wrong.
Madness is afoot at FastForward Innovations (FFWD) with the excitement about the impending listing of its cannabis play, Nuuvera, driving the share price up as high as 30p yesterday. This makes no rational sense as I will endeavour to explain but the summary is simple – if you like Nuuvera, buy it in the market for its market value rather than at 4-5 times its value!
I start this bearcast with a tale of Joshua meeting snow for the first time - a photo later maybe. Then it is onto Lyin' Steve Sanderson and today's horror story at UK Oil & Gas (UKOG). The share price collapse is only starting. Today's disaster for Neil "Nomates" Woodford is HaloSource (HALO) which I discuss before posing a question for my old pal Jim Mellon about SalvaRx (SALV). I comment on London Capital (LCG) and promise more on that debacle tomorrow while also noting that it is countdown to results day at Inspirit (INSP). Get your beer and Christmas popcorn ready...
Today's internet delivery for my neighbours which I have taken in is an industrial scale amount of loo paper. That tells you something about the Hammerson (HMSO ) deal which I comment on and also relay the thoughts of Nick Leslau. I ask questions about what has happened to Jim Mellon's Life Science Developments (LDC), look at Saga (SAGA)rare honesty in the resources sector from waste of space Spitfire Oil (SRO) and predictable behaviour at jam tomorrow outfit Tertiary Minerals (TYM)
I start with a look at whether some current assets are really current assets, taking my inspiration from my earlier analysis of Jim Mellon's flagship dog Regent Pacific. I explain why getting this right is so important in endeavouring proper company analysis. Then it is onto Friday's market sell off caused by what even ABC now admits was 100% fake news about Donald Trump. I look at the tax plans of POTUS which are inspirational and compare them with the rhetoric coming out of Jeremy Corbyn's Labour Party. I increasingly think Corbyn will win the next election and explain why that would be such a disaster. Tomorrow there may be no bearcast as I am travelling but I plan to do a double video share tip for paying subscribers only
Apologists for Jim Mellon's Regent Pacific, which thanks to the all share takeover of Plethora (PLE) has many British investors, have reacted fiercely to my article last week on how it was slashing Fortacin prices by 80%. This prompts me into further work and the alarm bells really are now ringing loudly.
The Daily Mail today reports that the price of Fortacin, the Premature Ejaculation treatment, on which Jim Mellon's Regent Pacific has bet the ranch has been slashed by 80% "just in time for an anticipated sales boom at Christmas." Chaps you are pulling my plonker.
The one thing I hate more than being wrong about a share recommendation is being spoofed and falling for it, which is what I think has happened with FastForward Innovations (FFWD). Can’t believe I fell for it but I’m done now – SELL.
At 4.12 PM yesterday it was announced that my old friend Jim Mellon and his associate Gerard Holden had resigned with immediate effect from West African Minerals (WAFM). Old Jim founded the company and was its chairman. It is now almost game over for West African and the scores on the doors are shocking.
The Guardian's coverage of the Paradise Papers has now turned to my old friend the Isle of Man based fugitive from Korean justice, Mr Jim Mellon. The Grauniad's coverage goes far but, sadly, its journalists fall for some slam dunk lies. This all concerns the Hoxton Pony,a fashionable bar in uber hip Shoreditch. I used to live round the corner and know it well.
Tom covered the news of the failed Schoold / Lingo Media merger that FastForward Innovations (FFWD) announced on Friday in his Bearcast (HERE); however, I thought it was worth taking a closer look at the numbers and pondering when the next major write down to FastForward’s portfolio, and Lorne Abony’s reputation, will come.
No I really want to be sick. The day started so well with Joshua, myself and more fit young mums making a paper image of Colin the Dog. But then I just got sick so hence the lack of content from me today. After this podcast goes up it is back to bed. On bear cast today a demolition of minus 99.5% lifestyle company Arian Silver (AGQ), 13 Energy (i3E), today's spoof from Magnolia (MAGP), a "fucked if I know" response from me on R4E (R4E) - a share we own - and a look at today's dire news from one of Jim Mellon's many AIM dogs FastForward (FFWD).
Investors in various Jim Mellon connected companies such as FastForward Innovations (FFWD) and Port Erin Biopharma (PEBI) may be interested in this analysis of Diabetic Boot Company’s latest six-month accounts to 31 December 2016. The bad news is that it is still losing a fortune although the good news is that at least Mr Mellon is now largely funding it himself.
In a wide ranging bearcast I ask whether the demerger of Afratin by Bushveld (BMN) will necessarily create value for shareholders. Then it is onto the read acrosses from Pendragon's (PDG) statement, not least for BCA Marketplace (BCA). Then I look at the scandsalous cash-piss by the evil fake news poll tax funded BBC on Interserve (IRV) and what it means for Interserve. I look at MySquar (MYSQ) and how soon it is a zero, UK Oil & Gas (UKOG), Andalas (ADL) and then onto SalvaRx (SALV) where, the fugitive from justice in South Korea, old Jim Mellon has pumped in more cash but where a real crash crunch clearly looms. Finally a few words on TrakM8 (TRAK)
I’ve been pretty critical of Jim Mellon's FastForward Innovations (FFWD) and its CEO, Lorne Abony, in the past but today’s news is a positive step for one of its investee companies, Nuuvera, and worthy of comment and the only negative relates to the obvious blunder that offends my OCD proof-reading nature.
It is a good job that my old friend Jim Mellon is so rich because it appears that the assets he stripped out of my old company Rivington Street Holdings, that is to say t1ps and the Master Investor Show, seem to be burning £10,000 of his cash every week. Poor Jim. The accounts for 2016 have just been published and are even worse than 2015. One wonders how long will this very poorly attended show be kept going?
Sitting here with my father in Shipston I start with what is my favourite joke from Frazier. Then it is onto the next joke, that is the news from FastForward (FFWD) one of the many joke investment companies linked to my old friend the offshore-based asset stripper Jim Mellon. Then it is onto Amur (AMC) which is so obviously placing ahoy and where the market cap is almost as much of a joke as a FastForward RNS. Then I turn to Jersey Oil & Gas (JOG) and the idea of risk reward before having a butchers at Rose Petroleum (ROSE) where even Stevie Wonder could see that it is placing ahoy. There may be a second bearcast on Nyota (NYO) where it seems there is a mega scandal emerging. Watch this space!
This may be the last bearcast you listen to. I hope not. To ensure you can listen to tommorrow's podcast and read two belting exclusives for just £5.99 sign up HERE. Today cover in detail sheer pointlessness of Starvest (SVE) & Torotrak (TRK). Both need to do placings both should, like flea bitten ageing hounds in pain, go on a one way trip to the vet. Once again I apologise to my old friend the offshore based asset stripper Jim Mellon for intruding on private grief as I look at another dog he has backed, Billing Services (BILL)
UK Oil & Gas (UKOG) nutter Michael Boyle wants to trap me and report me to the FCA. What a prize poltroon. Andrew Bell has been selling lots of UK Oil & Gas shares but - with millions still on the book - tries to argue that they are cheap. Hmmm. I have a second maths lesson for my friend Mr Bell following on from this one yesterday. Then it is onto my old friend the offshore based asset stripper Jim Mellon and one of the many dogs in his stable, the related party snakefest that is FastForward (FFWD). Clearly it is placing ahoy as the company has zero cash and grotesque PLC costs but I explain why the shares, at 9.5p, are monstrously overvalued - fair value is sub 5p. Sorry Jim.
Social Justice campaigners SumofUs have taken on mining giants before and, as Newmont discovered, won. Now the campaigners want perennially cash strapped AIM dog mining minnow Condor Gold (CNR), which is backed by my old friend Jim Mellon, stopped from abusing and bullying Nicaraguan peasants as it tries to develop the low grade La India mine. 64,467 folks (including me, sorry Jim) have already signed the petition. SumofUs does not hold back in its critique...
After months of promises and delays, Jim Mellon's FastForward Innovations (FFWD) finally provided further details of the potential merger of investee company Schoold with Lingo Media this morning. I can see why it was reticent about making the announcement as it doesn’t make pretty reading.
Oh dear, oh dear, it seems as if my old friend Jim Mellon had a bad day at the office on Friday. Hat tip to a reader who has just alerted me to a quite diabolical (lack of) profits warning from Regent Pacific which has many British shareholders thanks to its all share rescue takeover of AIM dog Plethora (PLE).
The sub scale bank Manx Financial (MFX) admitted yesterday morning that it could do with raising some more capital for regulatory purposes. It had considered a placing but, for some reason, that idea had not flown. But luckily its chairman Jim Mellon had a stack of warrants at 6p outstanding with a deadline for exercise of er...yesterday. With the share price at 8p surely this was a nil brainer for my good friend, the offshore based asset stripper, Mellon?
Five days ago someone who you would say had a career death wish, if he had actually got a career, sent me a stern lawyers letter demanding that I pull all articles on him (going back 40 months) pay him damages, never write about him again and publish a grovelling apology dictated by him. I asked you to guess who has been so daft and 92% of you got it wrong.
Tom covered the key headlines on the year-end results of Jim Mellon's FastForward Innovations (FFWD) on Friday but I wanted to focus in on a couple of points, most notably the exorbitant amount Lorne Abony, CEO, gets paid considering the despicable way in which he treats his shareholders and the shocking performance, and non-disclosure, of one of the investments that he brought to the table, namely Vemo.
My attention is drawn to the curious way that Paternoster Resources (PRS) communicates information to its long suffering shareholders and prompted to ask if the shares are as cheap as they look. Of course they are not.
Back in November 2015, Plethora Solutions (PLE) the AIM listed developer of a treatment for premature ejaculation run by offshore based asset stripper Jim Mellon was almost on its uppers, its cash position was critical and its share price had collapsed. Refinancing would have been impossible so it was announced that Regent Pacific, Mellon's Hong Kong based vehicle which already owned 28% of Plethora having chucked good money after bad, was to launch an all share offer worth 12.5p per share. I warned that was too good to be true HERE. And so let's wind forward 20 months...
FastForward (FFWD) the investment company chaired by my old friend, the offshore based asset stripper Mr Jim Mellon, served up results for the year to 31 March today. Cynical Bear will give them the full workover they merit over the weekend but I could not give my old pal Jim a completely free pass. The numbers are shite
Our nominations usually come from LSE.co.uk, ADVFN.co.uk, III.co.uk, and sometimes the FT. But this is the first time that our winner comes from the world of academia. And no, the author is not Tom's sociology lecturing Mrs
We're looking for exemplary examples of sheer stupidity from those founts of brilliance; LSE.co.uk, III.co.uk and ADVFN.co.uk. Perhaps if they need a guiding light they might care to look at life inside the basket case that is Jim Mellon's Diabetic Boot Company, as sponsored by most of the other AIM companies Jim runs as Cynical Bear pointed out HERE. The deadline to post your entries in the comments section below is midnight, Sunday 18 June.
I’ve written a few times on the travails of The Diabetic Boot Company over time, usually after yet another Jim Mellon-related company lends or invests money in this biotech pipedream. Well, its results have finally come out, two months late, and they make interesting reading.
There’s a few short-term challenges ahead for Jim Mellon's FastForward Innovations (FFWD) but for this piece I wanted to focus on the one I find most amusing, namely its most recent investment in the marijuana space, Nuuvera Corp, which reminds me of an episode of Dennis Waterman’s finest work – New Tricks.
Oh dear, this has all the makings of another AIM disaster for my good friend the offshore based asset stripper Jim Mellon. But look on the bright side Jim, you have probably lost far more of your wealth with HK dog Regent Pacific, whose shares continue to tank in an alarming fashion. Anyhow, back to the home grown disaster stories. Shares in Billing Services (BILL) are down again today to 2.875p valuing this company at £8.1 million. that looks awfully generous.
Arron Banks is a big UKIP backer as is his pal Jim Mellon, although the old asset stripper of Uramin infamy is not actually allowed to vote in the UK as he lives offshore in the Isle of Man. Private Eye this week looks at how the two men have not exactly prospered by backing the underperforming, sub scale, IOM-based, AIM-listed, bank Manx Financial (MFX). It also questions whether Banks is as rich as he claims. Enjoy...
I wrote six months ago about the laughable potential RTO deal between Jim Mellon-connected Life Science Developments (LIFE) and Jim’s favourite private investment, The Diabetic Boot Company. Well, surprise, surprise, the deal hasn’t happened and Life Science will be booted off AIM. It’s worth taking a closer look at what has gone on at this farce in the last 18 months.
When reading this morning’s RNS from FastForward Innovation (FFWD), I just had this image of Lorne Abony and Jim Mellon scrabbling around behind the back of the sofas in FastForward Towers looking for some spare change as the cash crunch (detailed HERE) becomes ever more pressing. The announcement related to a change in the lock-in arrangements relating to the sale of the SatoshiPay investment to Blue Star Capital (BLU).
Sorry to rub this in Jim but what goes around comes around. Most of the pictures of an almost deserted Master Investor Show on Saturday appeared HERE but the one of Jim Mellon staring out at empty seats was worthy of a caption contest and it produced many superb entries as you can see HERE. There are, actually, three winners.
Having been put in a bad mood with the disappointing Schoold deal that I covered HERE, I thought I’d dig a bit deeper to see how much cash is left in Jim Mellon backed FastForward (FFWD) business and what I think that means for the future and why it looks overvalued to me.
I’ve been on the edge of my seat for a number of days as was expecting news from Jim Mellon backed FastForward Innovations (FFWD) on its Schoold deal at any moment as the 75 day exclusivity period with a potential strategic acquirer had reached an end. The anticlimactic news arrived on Friday (as covered in Tom’s Bearcast HERE) and I merely felt deflated but today I’ve woken up angry and wonder if FastForward has actually lied to me!
The asset strippers who own Master Investor tried to persuade companies exhibiting at Nigel Wray's UK Investor Show to jump ship, promising them that 5,000 attendees would cram into a hall holding less than 3,000 folks. Well here is a photo below of the asset stripper himself, Jim Mellon, staring out on rows of empty seats. In light of that I invite you to examine the photo and offer up a suitable caption. The deadline for entries to be posted in the comments section below, is midnight tonight, Sunday 26th, the day after Master Investor died. RIP.
Once again the massively loss making Master Investor show - asset stripped by Jim Mellon five years ago - is taking place in Islington today. Once again Pizza Hardman Darren Atwater ordered a legitimate ticket but was once again stopped at the entrance before he even showed his ticket. Burly security guards said "you are on the list". Jim's list.
If you object to bad language do not listen. The madness and corruption of AIM, the willingness of the crony capitalists to deceive investors to get away another placing just got to me. In today's podcast I cover Blur (BLUR) - but would commend young Steve's coverage which is superb HERE, FastForward (FFWD) - the Jim Mellon spoof - Advanced Oncotherapy (DOG), Independent Resources (IRG), Amur Minerals (AMC), Sunrise Resources (SRES) and Zenith Energy (ZEN).
With Cheltenham Festival around the corner, I thought I’d throw caution to the wind this weekend, cast my cynical nature to one side, and come up with a couple of cheeky punts that I think may pay off. What could be more fitting for my first than the gambling business, Webis Holdings (WEB).
FastForward (FFWD), in which my good friend Jim Mellon has a material interest, has announced a disposal today claiming a 112% profit on its trade. It is talking out of its arse as it pumps ahead of a much needed placing as I explain in this bonus podcast.
After the Slater & Gordon (SGH) bearcast earlier you may have thought that I was sleeping off half a bottle of ouzo. Au contraire, I have been touring the Mani with George the Architect, the man who helped me to expose InternetQ last year. We went past Killers Gorge. Why can't you kill unsuitable boyfriends of your daughter or sister any more? As my daughter prepares to turn 16 this year I sadly conclude that this is yet another example of political correctness gone mad. In terms of stocks I offer a couple of corrections on Tracsis (TRCS) after yesterday's bearcast then look at Xtract Resources (XTR), Ascent Resources (AST), FastForward (FFWD), the over ramped hype company with which my good friend Jim Mellon is involved, Cobham (COB), Infrastructure India (IIP) and also the fraud Cloudtag (CTAG). And I refer to a drooling Evil Knievil ref THIS ARTICLE.
Weekend press reports (not in the UK natch as the British press is ignoring this £2 billion City scandal for reasons one can only imagine) suggest that the FBI is now investigating. Already in France there have been arrests including that of the CEO of Areva - Atomic Anne - which bought AIM & TSX listed Uramin for £2 billion and had written all of its assets off as worthless within three years. There is also a major new investigative book out on the scandal due out on Thursday. I am sure my good friend Jim Mellon will be ordering an advance copy. Elsewhere I look at Vislink (VLK), at the train wreck waiting to happen at Advanced Oncotherapy (AVO), at Fitbug (FITB) and Cloudtag (CTAG) and then finally at SalvarX (SALV) - placing ahoy on this related party express train to planet hype.
Sorry if my good friend Jim Mellon feels if I am picking on him today but moving on from Port Erin (PEBI), the old boy (60 in a few weeks) has also been active at Condor Gold (CNR), the dog where he sits as a NED. Hang on tight folks, this related party trail is getting confusing.
Flustered by the shock revelations about Diabetic Boot Company HERE, Jim Mellon's Port Erin (PEBI) published a December 31 NAV. Given that it published full year numbers when no-one was watching on 22 December this whiffs of panic. Unfortunately the statement begs more questions than it answers.
Cynical Bear has twice reported back on the great Jim Mellon Diabetic Boot spoof. This is a private company originally backed by Mellon with his own cash but then backed at ever higher valuations by PLCs controlled by Mellon, i.e with other folk's cash. But something happened before Christmas - surely the listed vehicles need to fess up? The spoof is not funny anymore, it is seriously related party unfunny;.
As discussed HERE and HERE I have been very nervous in the face of the rising tide that is the market of late. Two difficult decisions face the nervous investor – the first, obviously, is what to sell and the second is what to do with the proceeds. I did make a couple of wild plays and promised to keep you posted. So here we go with another update….
I wrote in May of this year that the price of Port Erin Biopharma (PEBI) was trading at a large enough discount to Net Asset Value that it was worth taking a position. At the time, it was trading in the 4-4.5p range; its now at 5.625p in the middle but with a pretty wide spread. But it is time to sell because the facts have changed substantially.
Happy Christmas One and all. This podcast follows on from A-E HERE, F-J HERE, K-O HERE and P to T HERE. Okay I cheat a bit here but with these letters it is tough but, inter alia, I cover: the USM, Uramin - my old pal Jim Mellon's company, United Cacao (CHOC), Worthington (WRN), the three Ex's , Xcite Energy (XEL), Xtract Resources (CTR), Yolo Leisure (YOLO), Zeus Capital and the late lamented Gable (GAH)
As this feature falls on Christmas Day, there is nothing else to write other than Happy Holidays and a Great Winterval to All! TW Note: You are a Godless liberal and Santa will not be rewarding you with anything at all this year.
Two classic Christmas RNS’s from Port Erin Biopharma (PEBI) this week, the second of which came out at 12 yesterday, being the disappointing final results for the year to 30 June 2016; however, it was the one on Thursday relating to a short-term loan to Jim Mellon’s favourite investment, the Diabetic Boot Company (“DBC”) that really raised my eyebrows.
Getting my excuses in early: if I make any errors it is because I cannot see properly for reasons I explain. I then look at Aortech (AOR), Eden (FRAUD), Aurum Mining (AUR) as in David Williams, Karelian Diamonds (KDR), Falanx (FLX), in real detail FastForward (FFWD), another hugely overvalued ramp in which my good friend Jim Mellon is involved and finally Hotel Chocolat (HOTC) where I have misgivings. For photos of chocolate as art taken by me on Monday go HERE
Oh dear. Oh dear. I do really worry that my old friend Jim Mellon is not finding the asset stripping of certain media assets that I created that much fun. He keeps on saying that his, me-too, piss poor investor show is profitable but the numbers speak for themselves. At this rate surely he is going to get bored of blowing half a million quid a year and the Master Investor show, now with morally bankrupt PR disaster zone Steffi running the joke sales effort, must be likely to be closed down very soon indeed. The bad news was snuck out to Companies House so late it attracted a fine for poor Jim, pm 15 December when no-one was watching. Except me.
A latest “Trading update” announcement from recruitment group InterQuest (ITQ) saw the shares fall to to circa 30p although with Jim Mellon upping his stake they are now 35p. We have had a long chat with the company’s Chairman Gary Ashworth.
I must rush. Woodlarks beckons and then it is Greece. But first I look at: Advanced Oncotherapy (AVO) in light of last night's bombshell HERE, TrakM8 (TRAK ) - chatting to Paul Scott - Pantheon Resources (PANR), Bushveld Minerals (BMN), FastForward (FFWD), Jim Mellon's reported comments and Mosman oil & Gas (MSMN).
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Ben Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be candid in his approach. Blog number nineteen....
You know that I always like to keep close tabs on how my good pal Jim Mellon is doing with those businesses he asset stripped from Rivington Street, the firm I set up. History might have been different had RSH accepted large cash offers for them but Jim wanted them for himself. So lets go to what was t1ps.com the owner of a range of websites and the increasingly badly attended and irrelevant Master Investor Show. Its accounts for calendar 2014 were approved on April 24 2015. Its calendar 2015 accounts were due by September 30th but....
I almost spat out my cornflakes with laughter at the ridiculous announcement from Life Science Developments (LIFE) this morning as it entered suspension pending an RTO with The Diabetic Boot Company (“DBC”). Please allow me to explain.
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. Blog number thirteen...
Happy birthday Lucian, it looks as if my son is hanging on to avoid joint parties in the future. Theresa May has a new idea on tackling fraud. Suffice to say what she proposes will damage industry and Britain PLC. I have another suggestion - enforce existing rules. Mrs May fails to understand the psyche of most fraudsters but also how useless the fraud busting agencies of the state are. I then move onto bad news for my good friend Jim Mellon at his latest AIM Disaster, Billing Services (BILL), then I cover XCite Energy (XEL) and read throughs at IGAS and Iofina (IOF). 88 Energy (88E), China fraud Zibao (ZBO) and the smelly business at Feedback (FDBK)
The pizza hardman took a test to see if he can stay in the UK and avoid deportation to the socialist hell hole that is Canada. I give you one of the questions whuch had me stumped since in part it depends on whether you live in the hard working South or the Northern welfare safaris. Then I answer a question on forward selling and another listener question on whether Sirius Minerals (SXX) is cheap. Then it is onto Harvest Minerals, (HMI), Iofina (IOF), Alba (ALBA) and the Jim Mellon joke that is SalvaRx (SALV) which I have covered in full HERE. Finally I am working on exposing an AIM listed company which has been engaging in industrial scale bribery. I hope to run the story tomorrow. Can you guess the company? Suggestions in the comments section below. Ho Ho Ho.
This is my fifth attempt to record a bearcast. I am plagued by idle thieving scousers and that included Doc Holiday today and by a delivery man - is that the Omen Box set or something the Mrs has ordered? I discuss the poisonous legacy of debt Mark Carney leaves everywhere then Nyota (NYO), Trafalgar New Homes (TRAF), Billing Services (BILL) - tough luck my old pal Jim Mellon another debacle - Strat Aero (AER) and XCite Energy (XEL) and than a useless factoid on "The Omen."
How on earth did hapless Nomad Peel Hunt sign off on what Jim Mellon's FastForward Innovations (FFWD) terms a "strategic update" but is in fact nothing more than a shameless pre placing ramp.? My comments are in bold. FastForward's are not.
There were a massive 28 entries for yesterday's Getafix caption contest! I cannot think what aroused such interest but perhaps you might get an idea HERE. Anyway there is a joint winner and today Malcolm has sent us yet another selfie from his hols...do your worst in the comments section below with a suitable caption. Now to yesterday's caption for the photo of Malcolm with the stunning partially clad young lady.
Fifteen years ago today my daughter was born weighing just 1lb 4 oz. Jim Mellon still has the photos on the old t1ps server but for some reason his organisation refused to send them back despite repeated requests. Miserable bastrads the lot of them. Anyhow this bearcast is dedicated to that miracle baby, my daughter. On the agenda, the numerous AIM suspensions today, including the FRAUD Environmental Recycling (ENRT) which is now on a double suspension, plus Fitbug (FITB) and a detailed look at CloudTag (CTAG) and the strange nutjobs ramping the shares which are a storming sell.
Last week I promised you a love letter to new London mayor Sadiq Khan. Actually, I don't have much to say about him other than if he drives Tom so mad, he must have some redeeming qualities. TW Note, I said I was glad Khan won, check your facts beardie,
Tom Winnifrith recently suggested that Port Erin Biopharma (PEBI) has gone limp because of pessimism about Plethora's premature ejaculation treatment. Cynical Bear says be suspicious of sub-scale investment companies on AIM, full of related party transactions and corporate overheads. So… obviously the moronic thing to do is pile in, right? But still, I am long Port Erin, at least when the price is right (sub 4p). Here’s why.
I start with more news on frigana cutting. I am a sweaty wreck after a day of mega slashing as I "take it out" on various folks in the City. Then I cover Asian Citrus (ACHL), Jiasen (JSI) and Taihua (TAIH) before I move onto Johnny Hon and R4E (R4E) then the scams and scum at Golden Saint Resources (GSR) - why won't PR fecking genius Steffi tell us about her shares? Then it is onto doomed Outsourcery (OUT) and then, as we expect more news tonight on Uramin, I ask a few questions about Port Erin (PEBI) another vehicle of my friend Jim Mellon. Oh and there is bad news for a company trying hard to bring jobs and wealth to the grim Northern welfare safaris, DX Group (DX). Moral of the story, let them rot, stick to doing business in the hard working South.
Having been critical of the Lorne Abony show and FastForward innovation’s (FFWD) recent investments in Vemo and Schoold in my last piece HERE, I thought I’d take a closer look at one of the earlier investments, The Diabetic Foot Company (“DBC”), as, funnily enough, related parties raise their ugly head again there too.
Following on from a few bearish pieces from Tom on FastForward Innovations (FFWD) that you can see HERE, I have my own views on why what was the “Jim Mellon show” but is fast becoming the “Lorne Abony show” is a no-go investment for me.
Pizza Hardman Darren Atwater responded to a piece of spam email and ordered a ticket legitimately to attend Jim Mellon's minor trade show in islington today. The show claimed that 10,000 tickets had been booked although capacity in the rooms booked is sub 3,000. Whatever. Atwater attended this morning and saw plenty of empty space. He estimates that, including suits manning stands, there were perhaps 2,000 in the hall. Again, whatever.
My old pal Jim Mellon is an ardent Europsceptic who campaigns for Brexit although, as a resident of the Isle of Man, he cannot actually vote himself in the great referendum. But all power to his elbow and I am sure that his offshore donations will be put to good use. But there is surely some irony in today's announcement from SalvaRx (SALV) where Jim is the largest shareholder and chairman.
Offshore based Jim Mellon's uber-ramped FastForward Innovations (FFWD) has today announced that it is spunking $3.5 million on buying 29.5% of Frails LLC, the owner of Leap Gaming, it will soon go to 41.5% at a total cost of $3.5 million so valuing this strange enterprise at $8.4 million.
Since March 3 in 25 working days, my old pal Jim Mellon's AIM casino listed FastForward Innovations (FFWD) has released 9 ramptastic good news RNS statements - one every three days. Since 31 March it has released 6 statements - that is to say almost one a day. It is almost as if Jim has been taking lessons from the master, Mr David Lenigas, on the art of the blizzard of ramptastic releases. Yet another placing with your tea vicar? It is also the nature of the releases that concerns me.
I a not sure what I am allowed to say these days since Paul Scott issued his language diktat. But I start by saying thanks to those who have emailed or tweeted me about my personal news today but then explain why I am spending a day cooped up in London with the charming Halimah. Then it is onto Condor Gold (CNR) and Powerhouse (PHE) which are talking cock. Then I remember my question of AIM's disappearing oil stocks in light of news today from Caza (CAZA). I concur with Steve Moore regarding Sepura (SEPU) and ask a few questions about Port Erin (PEBI) the vehicle of my old pal Jim Mellon, shares in which appear to be collapsing. There is also more comment on Strat Aero (AERO) and Stratmin (STGR).
I do mention names here starting with the criminal Chris Oil - a robber peasant - down to those who are playing the system legally as corporate barons. Folks like David Lenigas and Jim Mellon (with referece to 3 Legs) are not breaking the law in the way they make a killing on shares but it is immoral and it stinks of a market rigged against you and I where the few must prosper while many cannot. With referece to the Easter message how should one react?
This is quite simple. Either Oxi - the company reversing into 3Legs (3LEG) has filed monstrous lies at Companies House or Jim Mellon's 3 Legs has told monstrous lies to AIM. It is one or the other there is no third way and as such 3Legs needs to re-issue its RTO document to explain who was lying and why? In part 1 of this series I demonstrated unacceptable greed and Companies House filings that DO NOT ADD UP. Now here is the killer.
3 Legs Resources (3LEG) would have gone bust without my good pal Jim Mellon going in last June, investing £500,000 for a 29.9% stake and organising a Reverse takeover announced today. So he is a hero. The only problem is that this whole RTO stinks, companies house filings are all over the shop, nothing adds up and the stench of greed is palpable.
Warning: perhaps it is best not to play this podcast in front of the kids. On the agenda today I remember when Evil Knievil was a 3Dimmer - good investors accept that facts change, I note this in reference to MX Oil (MXO). I also discuss the folly of leaping to conclusions with reference to Falanx (FLX) and cover DQ Entertainment (DQE) and why Nomads are so skittish these days. Then it is on to Imaginatik (IMTK) and my old sparring partner the fraudster Rob Terry before I end up with a discussion of spraying ones todger and what to make of the situation at Plethora (PLE), the baby of my old friend Jim Mellon
The Mrs got a little confused and as a result she is in the doghouse and I am still in Bristol. I hope to arrive in Warwickshire to see my father this evening. Back on the markets Mellon-madness has broken out. I examine the joke that is the Condor Gold (CNR) ramp and also FastForward (FFWD). My pal Jim Mellon is clever..but not that clever. It is then onto worthless POS Arian Silver (AGQ), Asian Citrus (ACHL), Ten Alps (TAL) and the wider issue of earnings visibility discussed here. My Avanti Communications (AVN) reference is HERE and that is it for today.
We recommended shares in Life Science Developments (LIFE) in October at 2.15p and up to 2.25p, with a 3p target to sell by Christmas. It took a tiny bit longer for them to reach the target but still...
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Central Rand Gold (CRND), Port Erin (PEBI) and Sula Iron & Gold (SULA), setting share price targets for all three stocks.
A reader posted on our comments section: "Ive also just bought into FFWD. Tom why can't you tip this for 2016 instead of repeat tips on OPTI and NIPT?" Hmmm well I am sure that Optiobiotix shares will race ahead ( 100p + within weeks after the next deal is announced) and that Premaitha will announce new contracts and that it is passed the inflexion point of cash breakeven soon and that its shares will head to 30p+. That is why I tip them as buys. You want me to tip shares that will go up ,right? But your wish is my command and so I will also tip FastForward Innovations. But as a sell at 17p.
We have now had a few last minute return tickets become available for Gold & Bears on Saturday and you can get your hands on them today. We will email them out tonight. And with speakers from across the world lined up Saturday looks set to be explosive. The SuperBears 7 big name stocks to go to zero session with myself, Lucian Miers, Graham Neary and the Dark Destroyer Matt Earl is set to really get the lawyers excited!
As of today there are four seats left unbooked for the 2015 Gold & Bears Show on November 28 in London. . So book a free seat now for a fireworks event with Jim Mellon, Gabriele Grego (Globo’s nemesis), John Hempton, Sam Antar, Evil Knievil, Lucian Miers, Amanda, Dominic Frisby, 50 CEOs etc., etc. To get a free ticket for one of the last seats
I do not understand Bitcoin, blockchain technology and the like. I leave that to smarter folks like Dominic Frisby who will be presenting on it at Gold & Bears and my good friend Jim Mellon who will – I’m sure – mention it in his G&B talk. This could all be the next phooey hype but it could be big so I’m getting a small exposure via Coinsilium – a two year old blockchain investor listing on ISDX later this month. I’m backing Jim’s judgement on this one.
Plethora (PLE) was a company that I was only vaguely aware of up until last week when a potential takeover bid was made for it. Up until then this AIM-listed pharmaceutical company, whose main product is a premature ejaculation treatment, had been trading at between 3p and 4 p, but then an offer landed from Hong Kong investment vehicle, Regent Pacific (also listed in Frankfurt but volume there is almost non-existent), that valued Plethora at 12.5p per share.
This is a bolt from the blue. Regent Pacific a HK and Frankfurt listed investment company run by my good friend Jim Mellon has today announced an all paper offer for AIM listed Plethora (PLE) at 12.5p a share. But hang on, the devil is in the detail.
Breaking news: We have a new speaker at Gold & Bears, Gabriel Grego the author of the report that exposed the Globo fraud is flying in from New York as a new headliner. This guy is good.
My good friend Jim Mellon owns a pub in Notting Hill, West London, The Commander, and if you want free booze c/o Jim roll up roll up on Wednesday at 6.30 PM. Now here’s the catch.
Issue 4 of the UK Investor Show Magazine is now out and can be accessed below. Jim Mellon, Rob Terry (prison update), the stockmarket crash (a buying opportunity?), Advanced Oncotherapy, 6 other share tips, accounting for Geeks from myself and Chris Bailey. There is something for everyone.
The spiciest story this week, as spicy as a calabrese pizza with diabola sauce, is Ben Turney's response to Brokerman Dan's allegations that Ben has been a very naughty boy. Compare that to the cheesiest, as cheesy as a Quattro Formaggi with extra gorganzola, is Chris Oil's demand for an EGM at Sefton Resources.
Oooooh you are awful said market abuser Chris Oil, played by Kenneth Williams, this morning as Sefton Resources (SER) slammed into him and bank robber Dan Levi, played by Sid James. Barbara Windsor, Raylene Whitford, put on her undersized swimsuit and giggled as she waded teasingly off towards a swimming pool to plan how to spend her redundancy money. Welcome to another episode of Carry On Up the Sefton.
For many months those connected to market abuser Chris Oil have been boasting that they have Jim Mellon onside as they try to save the company. Oh no….
Following a series of questions HERE, HERE and HERE AIM-listed Tern plc (TERN) has finally clarified how it managed to allow the holder of warrants exercisable at 4.6p to exercise them at 0.02p instead. I’ve lost count of the clarifications and restatements Tern has issued so far this year, but at least we can start to draw a line under this latest one – although yesterday’s RNS would suggest that Tern’s FY13 and FY14 accounts and results RNSs, and the RNS of 31 July 2013 (which announced the issue of the warrant instrument) were all just plain wrong.
It is well known that ShareProphets has a long-standing business relationship with ADVFN (AFN). Not withstanding this, the Daniel Levi affair has raised a number of questions regarding his relationship with ADVFN, which do require answering. The easy thing for us to do would be to ignore these questions, but it is our responsibility to report on this story thoroughly and comprehensively.
In this podcast I ponder the similarities between the two sectors, a few thoughts on following experts like Jim Mellon (biotech) or Malcolm Burne (gold) and wonder what the renaissance of both sectors says about the wider market.
A morning pouring poison on the frigana at the Greek Hovel leaves me a sweaty wreck. I have one more load to dump then some olive pruning and I'll call it quits. I'll do more in August. So for light relief in this podcast I explain exactly how an AIM listed China fraud works with reference to today's trading statement from Jiasen. Then it is onto serial business failure Piers Linney and his Outsourcery POS, Arria NLG and Kuala Ltd (well done Jim Mellon) then back to Ferrum Crescent.
Jim Mellon says that the Greeks should build a statue in my honour as on Friday I opened a bank account in Greece and made a deposit. Okay it was only 10 Euro, I need to put in another 3,990 Euro to get my residency papers so I can buy a car, a bike and a gun, but it was a start. But the scenes at the National Bank in Kalamata were of chaos, you could smell the panic and they were being replicated at banks across Greece.
By popular demand it is back but for the next two weeks we add a General Election twist. As ever the rules are simple. Filthylucre and Bananabob cannot post their own comments on this website as entries as they are just too good. But any other comment on a Bulletin Board or twitter is eligible. But we also allow you to post any comment made by a politician during the Election campaign which is self-evidently ludicrous and unjustifiable. The most ludicrous or idiotic statement wins. We knew Vince Cable would come in handy one day. Although that mad Aussie who leads the Greens gives crazy old Vince a good run for his money.
I am off shortly to the London Stock Exchange AGM and events today show why AIM is such a joke of a casino. I refer to statements by Mosman, the er..lies of New World Oil & Gas and the total farce over Horse Hill. I give you full details of the next Dave Lenigas IPO and where to apply, not that I shall be doing so I stress. I cover the latest disaster to hit my good friend JimMellon, this time it is at Webis. and what the Benchmark and Hardide profits warnings tell us about wider equity valuations.
With all stormtroopers bar one now working out their notice – or having already jumped on board an escape capsule – from the imploding Death Star, that is Jim Mellon’s asset stripped media business, the question is what happens next?
Ever heard of Webis (WEB)? This interesting creature showed USD $276 million of turnover in 2014, a small profit of $500k, and had net current asset value of $3.8 million. How should such a company be valued? The current offer at 1p (beware the spread) values it at around $6 million. Strip away the net current assets and you seem to be buying a mammoth pile of revenues for an exceptionally small price at this level! However, all is not quite as it seems.
This was the session at UK Investor Show I enjoyed the most: Tom Winnifrith as the Sheriff of AIM interviewed by Amanda van Dyke, Nigel Somerville and Malcolm Stacey. Very straight talking on mistakes, on Rivington, on Jim Mellon, on the death threats, on fraud on Quindell and on much more.
John Helmer is a legend among journalists. Resident in Moscow since 1989 he has been threatened numerous times for breaking stories of corruption in the financial markets and elsewhere in Russia and also in China and Asia. He is a brave man and a hero in our profession and he used to contribute to Minesite filing some stunning articles on the mining world. That was until February 2011.
Self important fund manager Neil Woodford flagged up concerns about biotech valuations the other day. Discussing inter alia Plethora (PLE) another bit of a disappointment for my good friend Jim Mellon I look at how investors do and should value such stocks and tend to agree with Woodford that right now risk reward are out of kilter.
Friends of ours overseas have pointed us in the direction of this jolly interesting French TV programme featuring our old friend Jim Mellon. We gather that a follow up programme is on the way and that this story is, shall we say, developing fast. We have calls out in three continents and are on the case. Apologies if you do not speak French but perhaps if we have a reader who speaks fluent froggy and is bored this weekend and who would like to serve up a transcript...
I start with Aiden Earley and Worthington - Gotcha! It was NOT an April Fool, he really is speaking on "faith & money" at UK Investor Show on April 18. Then on to Quindell, Daniel Stewart, the criminal Rob Terry, Coms, Hunter Resources (sorry bad language in that section but the tools deserve it), Real Good Food, China Chaintek and the other Fujian frauds, Afren, The Innovation Group and then West African Minerals, Mwana, my good friend Jim Mellon and the issue of shareholder democracy.
I have noted before on a number of occasions that Volex is obsessed with spin and share price promotion but that its market cap (£59 million at 65p) is just a total Rum and coke. A grotesquely misleading RNS today only highlights the big problem with this enterprise: (lack of) cash generation.
Mark Child, chief executive officer of Central America-focused Condor Gold (CNR), is preparing the ground to seek key environmental, infrastructure and water permits to enable the company’s La India epithermal project in mining-friendly Nicaragua to start producing in two and a half years from a total potential resource of 2.3 million oz. with a robust average grade of four grammes of gold per tonne of ore. He suggests this process could take two months while AIM-quoted Condor moves to buy surface rights at La India across 700,000 hectares for $700,000 and strives to make the project attractive to potential joint venture partners or bidders ahead of production.