Ian Visagie, chief executive officer of gold recovery specialist Goldplat (GDP), says the company is moving fast to enhance profitability and expand and diversify its business after turning a £207,000 pre-tax profit into a £248,000 loss in the year to June on turnover down 27 per cent to £21 million. Focused chiefly on South Africa and Ghana, Goldplat, which extracts gold from mining waste, such as wood chips, mill liners, fine carbon, sludge and waste grease, suffered from a falling gold price in 2013-14, with operating profit before finance costs plunging from £2.6 million to £153,000 and its shares at 3.5p are down from a year’s high of 8.5p and a 2006 float price of 7.5p.
Today I just update the Inspirit (INSP) post I pushed out under 2 months ago - HERE. The share price was 1.13p and I suggested that Inspirit was a buy with a target of 1.75p.
My father originally advised me that Sainsbury’s (SBRY) was a good buy at 315p. “In the long term they’re good value at this price.” I did my own research, saw that the PE was low and the yield attractive. I didn’t have any shares in the supermarket sector and never had, so it was good from a ‘diversity’ view I guess. I bought the share.
Rockhopper Exploration (RKH) looks a great buy at the current level, both long and shorter term. The current share price of around 87p is a far cry from when it rocketed to over £5 following the discovery and successful flow test of oil from its Sea Lion license in the Falkland Islands back in 2010.
Sports content commercialisation group Perform (PER) has published a response document to a 260p per share announced “final cash offer” from its previous majority owner and current 42.5% shareholder, explaining why it considers that the offer undervalues it and that shareholders should reject the offer. The following updates with the shares having nudged lower to 259.3p in response.
As I noted at the weekend HERE Quindell (QPP) sent a letter from its new lawyers almost two weeks ago. I have asked it to justify statements in that letter it has failed to do so. But it gets worse. Quindell has now leaked that letter to the pathetic QPPSAG and it is being quoted verbatim albeit selectively on Bulletin Boards. That is a massive OWN GOAL by Mr 2+2 can = 5. My legal team is over the moon.
As any bull market gets out of hand the aggressive accounting practices start to emerge. Managers on bonuses do whatever they feel able to get away with to deliver the sales and profits needed to justify crazy ratings. Tesco has done the right thing in suspending managers, coming clean and calling in auditors for a full forensic. The question I poser to you is who is next?
News that Tesco (TSCO) had overstated its profits, prompting a near 12% collapse in the share price was good reason to caste the valuation measure over the shares at 203p. – last seen. I learnt from my A level English literature that the essence of tragedy – the real Greek kind – is to fall from a great height. That makes Tesco and its shares a real Greek tragedy!
Hello share twisters: As you know, most of the articles on this mind-blowing website, are presently in the negative vein. This is a marvellous thing, as most other financial websites carry glowing reports on all kinds of shares. Who knows what vested interests might be at work in some of these sparkling write-ups.
This has it all. I told you the shocking tale of the Mopowered (MPOW) AIM casino disaster story HERE yesterday. Today came news of a placing at 5p to raise £3.5 million (Gross). This just adds insult to the injury.
One of the more interesting aspects of the Mosman Oil & Gas (MSMN) story involves the nature of price sensitive information. When Mosman announced its first oil “discovery”, at 11:42am on June 13th, the share price went ballistic. Having opened at 11.85p, Mosman’s stock had just hit an intraday low of 10.5p before the company delivered its joyous news. By the end of the next trading day, Mosman’s share price had peaked at 56p, giving the company a market cap of £36.3million. Four days later and Mosman placed at 23p to raise £3million. There is no doubt that Mosman’s news release was a price sensitive event, but is it time to revisit the definition of what constitutes price sensitive information?
AIM casino posterboy Mopowered (MPOW) has today announced a rescue placing at 5p. It was listed at 100p on December 18 last year. It was trading whilst insolvent until today and has been for weeks. The shares are now 8.125p so investors have lost 92% of their cash in just over nine months. But it is not all bad news: the lawyers, brokers, nomad, accountants and PRs assisting this POS will – after commission today – have now made more than £1 million from the firm. It is coke and hookers all round for the Crony Capitalists of the AIM Casino, and hard cheese for the shareholders.
This article appeared in the Chinese publication Caixin Online at Christmas 2012. Staff reporter Qu Yunyu has done a superb job. It should be required reading for the crony capitalists round at Daniel Stewart, Allenby Capital and Abchurch Communications as well as AIM Regulation and for anyone mad enough to hold shares in Naibu (NBU), Camkids (CAMK) or China Chaintek (CTEK). It is explicit about what has gone on. If you own shares in any of the Fujian companies on the AIM Casino you should sell them all at once. The article – with a few choice sections in bold from me - reads:
I am sorry to say this but the research note published this morning by my friend (well he used to be) Simon “Wincey Willis of Daniel Stewart on China Chaintek (CTEK) is a total disgrace. I assume Wincey has been leaned on to justify what is obviously a fraud because Daniel Stewart is earning such vast fees as Nomad and broker to Chaintek. Wincey is a good and honest man and hence he drops covert hints that he thinks Chaintek is junk but I urge him to stand up to the reality that Chaintek and Naibu are engaged in fraud. He should explicitly tell clients to sell, even if that means that Daniel Stewart fires him. Simon do not sell your soul in this way.
Performance, knowledge and learning management technology company, NetDimensions (NETD) has announced results for the first half of the 2014 calendar year and that it is “confident” looking forward. With the shares still though comfortably below the 78.5p reached earlier this year, what is the current value proposition here?
There is so much wrong with AIM. China frauds seem to list at will. Companies can lie without censure. Folks like Sean Nutley at Silverdell and Rob Terry at The Innovation Group (where is he now BTW?) just “get away with it. Investors have completely lost trust in the Casino. It is a joke. The LSE could change it simply by getting the hapless bunch of complete cretins at the AIM Regulation Team to enforce rules, to kick off piss poor Nomads who float crap (Daniel Stewart) and to publicly name and shame. But instead it tinkers with the rule book. Top broker Andrew Monk of VSA weighed in this morning with this comment:
So I’m looking at my Sainsbury’s shares now, feeling quite sad. They’re currently trading at 275.1p. I first bought my original batch at 315p. I think it’s important for share investors to be as honest about their losses as their gains.
As I am currently on the east coast of the United States it was an especially early ‘silly o’clock’ awakening this morning. It was not the greatest start to the week however with Tesco (TSCO) unveiling the latest in a line of difficult market updates. Here’s the crux of what it had to say:
The Bulletin Board Morons do not seem to understand that if an Industrial Deafness case is lost Quindell (QPP) earns nothing it just incurs cost. So the mushrooming of bogus claims will not generate any cash for Quenron although it is happily accruing income on the basis that it takes on and wins 6,000 cases a month. Given that the number of claims settles has not risen above 20,000 across the while UK for many years, it is inevitable that at some stage it will have to write back all or nearly all of its accrued income from ID, prompting a profits warning. It will also mean that Quindell runs out of cash. The only question is when?
From the team that brought you Naibu (NBU) we also have China Chaintek (CTEK) which released its interims today and it goes without saying that they do not stack up either. My target price for the shares is 1p (the value of the cash dividend on offer) but since it will probably be the last when the stock goes ex my target price will be slashed to 0p.
The April edition of the UK Investor Show Magazine is live featuring Metal Tiger, BMR, Harley Investments, Action Hotels and much more.
Making money from shares is simple. Well it should be. Buy cheap. Hold. Hold. Hold. Hold, and finally sell when the shares have delivered you big gains. Where so many folks go wrong is getting impatient and not being prepared to hold, hold, hold. Let us tell you about Symphony Environmental (SYM) which we tipped at a 6.75p offer just over three years ago. It did nothing for ages....
This week's contest is graciously sponsored by African Potash, AIM, NEX, Chris Cleverly vehicle that is bound to hit the stratosphere.*
Before I call it a day I want to see the victims of the African Potash (AFPO) fraud get some of their money back, even if some of those victims were fairly beastly to me as I exposed the fraud. Friday's bombshell from Potash shows the game is up but the big frauds happened before this worthless enterprise was booted off AIM. To that end I have been working to help put together a legal action. That action is now almost underway and Peter Petyt, the man running things, wrote to more than 50 victims who have come forward at the weekend. If you lost money and want to try to get it back it is not too late to contact Peter. His letter & contact details follow.
In this video from the storming success that was the 2017 UK Investor Show, Paul Scott finds Nigel Wray's and Paul Mumford's investment strategies. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
Artificial political constructs never last. The EU is great for the “elites” in Brussels; not so much for the average citizen and the tragedy of monetary union is that Europe's political class has gone to extreme lengths to hold the euro together regardless of underlying economic logic. But this has only perpetuated and exacerbated the coming political crisis. "Monetary union has created a conflict between a centralised elite on the one hand, and the forces of democracy at the national level on the other. This is extraordinarily dangerous,” Mervyn King wrote in his recent book 'The End of Alchemy'.
As I flagged up over the weekend, in a desperate attempt to keep the fraud from becoming insolvent, African Potash (AFPO) has proposed a RTO of a company called Onshore Energy Limited, OEL. Lyin' Chris Cleverley Potash's boss is also a director and shareholder on OEL. But it gets worse. Much worse.
I previously wrote on WANdisco (WAND) in January – ‘one quarter does not an investment make, but offers some encouragement for shareholders’. The following updates with the shares currently on the rise on the back of a “Significant customer win and Q1 update” announcement…
Yesterday we wandered through the first page of search results on the OpenCorporates.com website to look at the record of AIM-listed Advanced Oncotherapy (AVO) Executive Chairman Dr Michael Jeffrey Sinclair. There are rather a lot – here comes page 2.
Stanley Gibbons (SGI) has announced it “has sold one of the rarest pieces of Indian Philately to a private collector-investor in Australia for £500,000, the highest price ever paid for a single Indian philatelic item”.
ShareProphets AIM-China Filthy Forty play Taihua (TAIH) announced last Friday that the EGM called to approve the company’s proposed delisting from the AIM Casino had passed the proposals with the requisite majority. The shares are expected to depart the world’s most successful (but perhaps not for Taihua) growth market first thing on 8 May. In the wake of the announcement – at 4.15pm last Friday, bordering on no-one-is-watching o’clock - the shares again nose-dived, registering a new low of 0.1p on the bid yesterday, but all of a sudden the stock is on the rampage this morning. What is going on?
AIM-listed Advanced Oncotherapy (AVO) – teetering on the brink of having to call an EGM to reduce its nominal share capital under the terms of its death-spiral funding package with Bracknor – has announced yet another director share purchase, the fourth just this month (if we ignore the botched 7am RNS of 4 April). As ever, this is just a spoof in order to encourage more buying in the market so as to allow Bracknor to offload more of its death-spiral conversion shares as Advanced hopes and prays for the next £1.235 million tranche of funding before the coffers run dry.
On 12 April 2017, the fraud that is African Potash (AFPO) announced a change of auditors from RSM UK Audit LLP to PKF Littlejohn LLP. One can understand why RSM UK Audit LLP might be keen to cease its relationship with a company with the frankly appalling track record of African Potash but how desperate does PKF Littlejohn LLP look in taking on African Potash as an audit client?
The COT report reveals the large paper short and long positions in silver. Currently it appears to be indicating a small downtrend in the silver market. In this week's Palisade podcast David Morgan discusses how silver markets move and how they can be pushed to the downside once investors run low on cash, as banks will short the market at opportune moments.
Goals Soccer Centres (GOAL) has admitted “preliminary discussions” with key rival Powerleague on “combining the two businesses”, though emphasises that is “but one of the strategic opportunities currently being assessed by the Goals board”…
An announcement from Blancco Technology Group (BLTG) entitled “Q3 Trading Update, Cash Flow Review and Funding”. Hmmm, I’d guess it ain’t gonna be positive…
Truly, there are no winners from the pool of Bulletin Board morons, only those who succeed in making our eyes roll the furthest.
Together Robert Sutherland Smith and Tom Winnifrith have now been working in finance for 71 years - the last ten or so together. Tom wishes to stress that RSS accounts for most of that, the great value investor starting his City career at the Unilever Pension Fund the year before Tom was born. In this book they outline 71 tricks of the trade for making money from shares.
Get the first ShareProphets Pocket Guide ebook, EIS - Buying shares with numerous tax breaks. Want to cut your income tax bill, get loss relief if your AIM listed shares go down, pay no CGT, avoid IHT - EIS could be the way and this book explains how.
Most investment books seem to be large enough to keep the front door open and while some contain gems it is hard to find them amid the verbiage. The aim here is to produce a short guide which simply cuts to the chase. I hope that it will provide food for thought for everyone from beginner to expert but whoever you are it should be quick and easy to read and digest.
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