Tom Winnifrith covered yesterday morning’s non-news of AIM-listed URU Metals’ (URU) proposed listing of majority-owned Toronto-listed subsidiary ZEB Nickel on the joke US OTCQB market. The shares rocketed from 170p to 210p on the news, a 23.5% gain. But the bald truth is that we are talking about a joke market with little liquidity and in any case, I would have thought your average US punter would manage to get access to the Toronto Venture exchange without having to deal with a tin-pot middle man.
Standard Listed green shite investment company Net Zero Infrastructure (NZI) still refuses to say who is behind shady, offshore based HK360 Limited. This refusal to be transparent is all the more critical because there are very clearly some missing TR1s which would reveal who dumped into the pump. I have written to the FCA as you can see below.
For the record, I do not believe management at ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) have anything to do with this- indeed, my view is that head honcho John Chapman is a breath of fresh air. But shares in Origo seems to have gone stark raving bonkers – only on Wednesday they closed at 0.145p and now they are 0.275p, having peaked at over 0.4p. What’s going on?
Broker Shore Cap insisted that shares in Sosandar (SOS) were worth 50p. Thirsty Paul Scott gushed about how they were potentially worth far more and after such massive pumping the stock hit the mid forties at which point it was valued at around thirty times historic sales. Insanity. And then the shares started sliding, falling from 44p at the start of this month to 36p yesterday. That must have been enough to turn anyone to drink. Whatever could have been happening… oh yes…
Our very own Gary Newman nailed this spot on at the weekend flagging up that an almighty pump in Arian Silver (AGQ) was underway. Our sober, harsh but fair coverage contrasts well with the really sordid rampfest that saw the shares pushed ahead ahead of a placing today raising £600,000 at just 0.5p.
Earlier today i showed how Magnolia Petroleum (MAGP) has become a gravy train not just for CEO, not so lovely Rita Whittingham, but for her extended family as well. But when the operations are not generating cash how to fund the gravy train? Shimples: pump the stock with misleading RNS statements and do a discounted placing. Rinse and repeat. Want an example (for there are many)? Here goes.
I looked at MySQUAR (MYSQ) recently commenting on the apparent conflict between the broker, Beaufort Securities, and its lender, Sandabel Capital (HERE). The good news is that the Sandabel deal has now come to an end. The less good news is that the average PI here has just been played like a fiddle with a classic pump and dump and it is worth taking a closer look.
Christ I am naive. There was I thinking that all the twitter and Bulletin Board ramping during the past two weeks was there to allow disgraced PR genius Steffi to dump her few remaining shares in this worthless piece of Turkish. Oh no. Silly me. It was a pump before a different sort of dump. A bail-out placing dump. The release is a hoot. It can only have been written by a compulsive liar. Remind me: who does the PR again?
Having pumped up the share price at the start of last week with yet another ramptastic operations update, all rather predictably comes the dump. This morning AIM-listed Frontera Resources (FRR) announced the draw-down of another £382,550 under a Standby Equity Distribution Agreement (SEDA) – for which read death spiral – with YA II PN Ltd (for which read Yorkville). Another wheelbarrow-load of confetti, 402,684,211 shares, has been issued at 0.095p per share. We are told this will be used to advance work programs of the Company.
After issuing 22 RNS announcements this month alone and 63 since February 11 2016 the pump phase is over, next comes the dump at Metal Tiger (MTR)