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Notes from Underground – Most read articles for the week ending 24 June

By Darren Atwater | Sunday 25 June 2023


 


For the second week running, the most read non-Quiz, non-Tom article last week is by Malcolm Stacey, Why Lloyds Shares May Be Chirpy Chirpy Cheap Cheap and How the Black Horse Might Gallop Ahead, at No 10 or No 17 including Bearcasts.

The most read ShareProphets stories this week were:

  1. BREAKING: Avacta – dissembles as placing fails
    On Saturday, I revealed that Stifel was running a £10 million book build for Avacta (AVCT) at 90p HERE. On Sunday I reported that it might now be at as low as 80p HERE as the response had not been good. Today Avacta has dismissed the attempted placing as market speculation and says there is no imminent fund raise. It misleads. There is a partial fess…

  2. More ouzo for the Sheriff! Bidstack: dire numbers, cash crisis, material uncertainty and death spiral on the way
    Bidstack (BIDS) delayed and delayed its results in the hope that it might have secured a refinancing by the time dire numbers were published but in the end this POS company had no choice but to fess. The numbers are truly dismal, H1 2023 looks to be piss poor to, the auditors flag up a material uncertainty and unable to get a placing away its death spiral time.

  3. Letter to AIM Regulation: Surely you cannot allow Avacta to mislead in this way?
    Yesterday Avacta (AVCT) and its Nomad Stifel deliberately misled investors about a placing it had had to abort after I revealed all on Saturday HERE. I have written to the Oxymorons at AIM Regulation pointing out that this is an active deceit and suggesting that both Stifel and Avacta should be sanctioned and forced to ‘fess up. I do so just to put this latest failing at the casino on the record, not in great hope that the Oxymorons will actually do anything. The letter is below

  4. The ShareProphets Sunday Pub Quiz #193
    It's time for the ShareProphets Sunday Pub Quiz.. There are no prizes! And remember, no Googling!

  5. BOMBSHELL EXPOSE: Bidstack Annual Report out – the hidden horrors of greed and questions about the last placing
    Yesterday we had the dismal prelims from Bidstack (BIDS) with the confession that it is talking to a death spiral provider to stave off a gig with the Fat Lady. Today the annual report is out and it contains fresh horrors hidden deep in the notes.

  6. BREAKING: Shanta Gold – surely this is price sensitive so should be an RNS not part of a Proactive ramp?
    Last night Shanta Gold (SHG) gave a presentation at Proactive Investors. Paying for proactive to ramp your shares is always a bit of a red flag but I reckon Shanta shares are cheap notwithstanding that. However slide 4 of 18 raises, to say the least, eyebrows. It states:

  7. Canadian Overseas: board changes leave value destroyer king Arthur Millholland unchecked & still massively cash burning
    Normally the market reacts positively to news that a company is firing staff and cutting back on costs. But sometimes folks see that this is a smokescreen, it is like chucking a few deckchairs overboard on a stricken liner. It makes no odds in the bigger picture and it can create new risks. That brings me to Canadian Overseas Petroleum Limited (COPL) a share that is heading to zero.

  8. BREAKING: Shameless David Lenigas does Leni-Maths on twitter to ramp insolvent Pennpetro - no Nomad would allow this bollocks
    You may remember that when Big Dave was at UK Oil & Gas (UKOG) right at the start of the Horse Hill farce, AIM regulation stepped in to force a retraction of claims that the area contained 6 billion barrels of oil. It seems that Big Dave is at it again.

  9. UPDATED: Breaking – Is Contango Doc’s next disaster? URGENT statement needed ASAP!
    Contango (CGO) is a Zimbabwe coal play penny dreadful ramped aggressively and persistently by the Scouse promoter Doc Holliday for two years. But as with other disasters like Chesterfield Resources (CHF), Versarien (VRS) and More Acquisitions (TMOR) where the fat Lady is already juggling diary dates, it’s been a piss poor investment. But now a statement is needed ASAP as it could get far worse

  10. Why Lloyds Shares May Be Chirpy Chirpy Cheap Cheap and How the Black Horse Might Gallop Ahead
    Hello Share Grabbers. When I took out a mortgage in the 'eighties, the interest was about 10%. Viewed in that context, current interest rates are low. They’re expected to reach 5% soon and stay that way for another year. However, folks have got used to negligible interest rates and have paid more for their homes as a result. But what seems to be largely overlooked is the effect on banks of charging more for mortgages.

The most-listened to Bearcasts this week were:

  1. Tom Winnifrith Bearcast: Now the Avacta witch-hunt starts
    In today's podcast I discuss Avacta (AVCT), musicMagpie (MMAG), Kefi Gold & Copper (KEFI), Ariana Resources (AAU), Colin Bird's African Pioneer (AFP), the culture at Odey and why ALL its staff should pay (footnote it is RAB not odey that owns shares in Kefi, apologies long covid strikes again), what a Labour Government really means for business and investors and Joshua's school sports day later on.

  2. Tom Winnifrith Bearcast - so many ouzo moments today but I start with an apology on Kefi
    I misspoke on Kefi Gold & Copper (KEFI) though I corrected myself in the text yesterday I apologise again today. Then it is onto Joshua's Sports Day which has made me so unbelievably angry. Then to the ouzo moments as I look at: Revolution Beauty (REVB), Boohoo.com (BOO), Guild ESports (GILD), Avacta (AVCT), Bidstack (BIDS), Deepverge (DVRG), Gear4Music (G4M) and Microsaic (MSYS).

  3. Tom Winnifrith Bearcast: re-wrote yesterday's articles, gosh Avacta shareholders are thick & is gold really a store of value? Nigel should have switched into cat food!
    I start with yesterday. I have rewritten all of the Woodlarks articles and hope that you will re-read as they now have a bit more colour and a few jokes and, in a couple of cases, now actually make sense. Thanks so much to all who have donated. You ALL have an open invite to the camp. If you have forgotten to sponsor my last walk you can do so HERE. Then I talk about Avacta (AVCT) its placing I exposed yesterday HERE (might it, in fact, be lower than 90p?) and the denial and stupidity of some of its shareholders. Then I point out that Nigel would have made more money selling all his gold and switching into pasta and cat food ( or even tins of baked beans) so ask can he really still view the yellow metal as a store of value?

  4. Tom Winnifrith Bearcast: feck off James from Selby you deserve to lose your house and go bust
    I start with bollocks talked all round today about bailing out those suffering mortgage misery. Blah, blah, blah. Then it is on to bitcoin and Argo Blockchain (ARB), a deep dive into the stinkiest deal done in eons, Hydrogen Utopia (HUI) is the culprit. Then I look at Conroy Gold & Natural Resources (CGNR), more nonsense from Chill Brands (CHLL) and why Bidstack (BIDS) may go bust and why I hope it goes bust. En passant, I mention Cook's Coffee (COOK) and the disgraced Andrew Monk who IPO'd it.

  5. Tom Winnifrith Bearcast: a snake spotted and a mother-in-law joke
    I start with an unlikely bromance as Brokerman Dan and Richard "nobody apart from Dan Levi likes me and I don't care" Jennings walk for cats - as you can see here. Then the mother-in-law joke. actually my mother-in--law is a top banana so maybe I should not be so rude. Then a go at BBC Radio 4's Today programme as I comment on events in Russia. Then the woolly thinking on inflation and home owners. Finally Gary's excellent piece on Contango (CGO) today and why he is bang on the money.

  6. Tom Winnifrith Bearcast: Powerhouse accelerates its rush to insolvency with dirty related party deal
    I start on the 0.5% hike in base rates: who is to blame? What does it mean gor house prices, recession, corporate insolvencies and the next General Election? Then I look at Oracle power (OCP), Contango (CGO), Shanta Gold (SHG), More Acquisitions (TMOR) which is treating Doc Holliday very badly, Bidstack (BIDS) - target now zero - and Powerhouse Energy (PHE), ditto. 

  7. Tom Winnifrith Bearcast - Hotel Chocolat is talking almighty tummy rotI start on the subject of strawberries. Then it is onto: Hotel Chocolat (HOTC), SRT Marine (SRT), Bidstack (BIDS), Non Standard Finance (NSF), Versarien (VRS) and Audioboom (BOOM), today's big ouzo moment.
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