Me and my big mouth! Last week it was all positive: Gold had been moving higher, seemed to be out of the downtrend of lower highs and Gold shares were riding high. Then wallop! All of a sudden Gold is back below $1800 at $1792, having been $1845 the previous week. But is this sell-off really serious?
It is time for yet another ouzo! As long suggested on this fine website, AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has done yet another discounted placing to raise c.£2 million (before expenses) at 18.8p per share – and launched a PrimaryBid offer (which you should definitely ignore) in an attempt to raise the same again. But the joke is that it seems it was the Bears to the rescue!
There may be no limit to the stupidity of the lunatic fans of AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) but the market’s early reaction to this morning’s FY20 results – a drop of 18% – suggests that you can’t fool all of the market all of the time. In short, the numbers are a calamity.
Shares in AIM-listed jam-tomorrow (if ever) investment company have again been dribbling south, closing yesterday at 6.95p. With a load of freshly raised cash and a new investment to boast, surely things are going well for Tern……but alas the market seems to be taking a different view. Of course, Tern has a habit of keeping quiet when there might be something to clear up – such as the recent speculation (unfounded, as it happens) on the BBs about Wyld. And that brings me to its 50%-owned investee InVMA.
At least we weren’t told anybody was pleased to announce these results on Wednesday morning, but the numbers offered up by AIM-listed Trafalgar Property (TRAF) were once again horrific. And something simply does not ring true.
I just can’t help but notice that shares in AIM-listed jam-tomorrow serial non-deliverer Tern plc (TERN) seem to be sinking fast. The latest move yesterday, with the shares closing down again at 7.9p, has taken out the issue price of the subscription shares announced last Monday of 8.5p – which was already a 21% discount. It is always a very bad sign if the share price drops below the placing or subscription price. Oh dear…….and it gets worse, for it is under the curse of the Sith Lord Zak Mir who gave it the kiss of death at 10p, predicting a rise to 18p. Oops – 21% down so far on that one!
Having warned the market on Thursday that a placing was on the way at a substantial discount, the placing duly arrived yesterday morning at two minutes to ten – 37.5 million bits of confetti at 2p to raise £703,000 gross and see off £47,000 worth of liabilities. In some ways one has to congratulate the Broker on a job well done, given that the shares closed Thursday night at 2.65p that amounts to a discount of just 24.5% - a big improvement on the last effort at a monster 77% discount. So where does that leave the company?
AIM-listed jam-tomorrow Internet of Things investment company Tern plc (TERN) finally got around to releasing its FY19 numbers this morning, at 8.15am. To me, the numbers were dire – and the market’s reaction was to mark the stock heavily down: they are off by 25% as I write.
Chris Akers ramp AIM-listed Asimilar (ASLR) saw its shares suspended on Friday after the company announced it was buying a stake in Sentiance, an AI company in Belgium. But hang on, I thought another Akers ramp, Mesh Holdings (MESH), was supposed to be buying that!
Standard-listed AIQ (AIQ) – an investment company which rather caught our eye last year in the wake of its calamity of an IPO and repeat suspensions thereafter – has published its maiden full year results. Needless to say, they are nothing to write home about (unless you are a ShareProphets writer!)
I noted last Thursday that in the wake of updated Directors’ information (Messers Leith and Ritchie having missed out ten insolvencies) and the clarification over forecasts for Device Authority that one wonders what will come out next from AIM-listed Tern plc (TERN). Well, on Monday it announced it had appointed Allenby as Nomad. What I wonder is whether WH Ireland jumped or was pushed?
I haven’t covered ShareProphets AIM-China Filthy Forty All Asia Asset Capital (AAA) much before its shocking contender for most expensive loan on AIM, but since our list is now only 13 members long, and with an 'interesting' disposal to record now seems as good a time as any to take a peek. And so, with the Chairman pleased to present the results… (and the shares down by 30%)...
Crazy market valuations aren’t exactly that unusual on the AIM market as hype plays a big part. But sometimes I have to pinch myself to check that I’m not seeing things when I see the values placed on some of the assets held by these companies – or in the case of Concha (CHA) a seeming lack of any actual assets to support its share price!
There is one thing that the “businesses” David Lenigas sets up rely on; his instinctive ability to promote overvalued paper. Despite this the Lenigas alchemy only works for so so long. As soon as Britain’s best paper salesman moves on from one of his “businesses” (once it’s reached a certain stage of “maturity”, of course) the company’s share price typically follows him quickly out of the door. This pattern has been repeated time and time again. Tom recently pointed out the miserable long-term performance of LGO Energy (LGO), but today it is UK Oil & Gas’ (UKOG) near terminal-looking decline that caught my eye. Worry not though UKOG’ers you have Stephen “I never said 100 billion barrels, although I was captured on camera saying just that” Sanderson at the helm.
I wish no offence to those who believe in Santa (rallies) such as comrade Stacey not to those young whippersnappers such as Mark Howitt who see every sell off as a buying opportunity. But I have been warning for months that UK Equities were simply overvalued and that remains the case. Their advice to buy on the dips and not on the dips has been flawed. I am vindicated and I shall be more vindicated and so today I explain why shares (FTSE 100 down to AIM) are not for buying just yet.
Hello Share Smiths. There are a lot of dark predictions going around. Everybody seems to expect share prices to tumble. Our Uncle Tom Winnifrith is among the gloomy brigade. He thinks shares are overvalued. But I think all these dire expectations are being overdone.
After yesterday’s running verbal battle concerning my sell call on Rare Earth Minerals (REM), today I feel I have to follow up with more detail why I believe this stock is a sel. I came under fire for there being a lack of detail and thought behind my original piece. Although I disagree with this, I don’t mind spelling out what I am convinced Rare Earth is a sell at 1.65p.