ShareProphets

Wednesday 24 May 2017 The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares


16 October 2014, 18:01 | By Tom Winnifrith & Steve Moore |

EMED – The Peasants should revolt and back calls to sack the board

Multinational commodities group Trafigura, the largest shareholder in EMED Mining (EMED), has called an EGM to vote on the removal of most of its board to ‘bring about much-needed change’.  Steve Moore and I back Trafigura and urge you to cast proxy votes in support of the calls for change. Small investors, the peasants, can make a difference here and the current board has given the peasants every reason to revolt.

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16 October 2014, 17:46 | By Tom Winnifrith |

Quindell Director Share Purchases are all PR – as good a sell signal as last time

Back in late April Quindell (QPP) shares were on the slide post Gotham and the board responded with a PR campaign of share buying. It was PR puffery. But folks fell for it.  And so we have today seen a second NED in Quindell buying shares. Let me explain why this is all bollocks.

16 October 2014, 15:34 | By Robert Tyerman |

New battle erupts at EMED Mining

Multinational commodities group Trafigura, largest shareholder in AIM and Toronto-quoted EMED Mining (EMED), has stirred a flurry in the company’s shares by calling for the removal of most of its board to ‘bring about much-needed change’.  Having spent some £18 million earlier this year buying an 18% stake in EMED, Trafigura has called for a special investors’ meeting, claiming the present EMED board, under chairman Ronnie Beevor and chief executive officer Isaac Querub, ’is failing to serve the interests of shareholders’  and arguing the company, as currently constituted, lacks the financial resources and management capabilities to achieve its goal of reopening the historic Rio Tinto copper mine in the Spanish province of Andalusia.

16 October 2014, 15:28 | By Tom Winnifrith |

Reader Post of the day 2 – The Most Excellent 42 on the Quindell Cash Crisis

Quindell (QPP) faces a cash crisis which is forcing it to resort to quite desperate measures as I outlined HERE and HERE earlier today. Its position is dire. And now our most excellent poster has weighed in with this critical note. As you await for tomorrow’s big daddy video which explains why Quenron has committed accounting fraud, has never generated cash and is worth 0p I bring you the awesome 42 with his latest offering.

16 October 2014, 15:27 | By Tom Winnifrith |

The Bears Scent Death at Quindell – King of the US Bears Muddy Waters weighs in

Quindell (QPP) took on the bears and Quenron is losing. I first cited red flags about this fraud in April 2013. A year later Gotham City Research took it apart and now the shorters are upping the ante. The smell of Death is clear and now the best known US Bear Muddy Waters has also chipped in via twitter.

16 October 2014, 15:15 | By Malcolm Stacey |

Be Different - when to buy shares

Ineffectual investors follow the herd. The crowd may be right some of the time, as they're all following the same obvious pointers to success. But if everybody is correct about a situation, and puts their mouth where everybody else's is, profits won't be worth hollering about. 

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15 October 2014, 23:17 | By Tom Winnifrith |

The market is plunging and we are about to do what?

Steve Moore and I are pretty proud of NOT having published a new tip for several months on our pemium Nifty Fifty website  There are commercial pressures to write tips – folks do not renew if you see no tips! – but we could not have acted differently and felt good about ourselves. Instead we have advised the selling of a number of older tips some at a profit others not so and we hope our readers are now fairly heavily cash weighted as a result.

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15 October 2014, 19:39 | By Tom Winnifrith |

Restore – well ahead of my June share tip – far more to come

I tipped Restore (RST) at a 181p (offer) share price on June 10 this year. Its shares are now 228p but there is still plenty of upside.  My next hot tip – which I really like goes live at 3.30 PM today on my Nifty Fifty website. You can get immediate access HERE.  Now back to Restore.

15 October 2014, 19:30 | By Robert Sutherland Smith |

Standard & Chartered at 1087p - time to buy?

When I looked at this former Far East wunderkind bank in May, I was critical of its rather impressionistic form of reporting.

15 October 2014, 19:18 | By Tom Winnifrith |

Tom Winnifrith's Bearcast 15th October - Oil on Centre Stage

A good day for the bears on the markets and ahead of a boozy lunch I am in good form. The podcast is again explicit in its language, this is no holds barred stuff.

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15 October 2014, 18:21 | By Ben Turney |

Exclusive interview with Kibo Mining CEO Louis Coetzee – Part 2

In the first part of this exclusive interview with Kibo Mining (KIBO) CEO Louis Coetzee we discussed the company’s flagship coal project at Rukwa, investor disappointment in 2013, why Kibo did not complete the deal with EWP, the unexpected interest from other major development partners, the current status of negotiations and the technical stage the project is at. In this second part of the interview, Mr Coetzee goes on to talk about Kibo’s other flagship venture, the gold project at Imweru, as well as the reasons for last week’s placement. Shareholders are not happy with Kibo at present, but Mr Coetzee delivers candid answers to the direct questions I put to him. 

15 October 2014, 18:09 | By Tom Winnifrith |

Reader Comment of the day: TurboMuncher on the Quindell cash Crisis

It is abundantly clear that Quenron (QPP) now faces a cash crisis of monumental proportions. I am sure that the FCA is now monitoring its Regulatory capital position with extreme concern. And if you want to know what happens when this becomes an issue have a look at Daniel Stewart HERE. I flagged up earlier today, one way in which Quenron is hiding this time bomb from investors – by delaying salary payments HERE – but the other obvious way is by not paying its bills, something you would not be able to gauge from the cobblers in its trading statement of Monday. But poster TurboMubcher has the data and puts it into context for you in an excellent post:

15 October 2014, 17:58 | By Ben Turney |

Exclusive interview with Kibo Mining CEO Louis Coetzee – Part 1

Last Wednesday, Kibo Mining (KIBO) conducted a contentious £855,000 placement at 1.5p. The general mood among shareholders is pretty furious and it would have been easy to write a piece in response, blasting the company. As it happened, earlier in the week I had had a discussion with CEO Louis Coetzee about the future of the company, what happened in 2013 and Kibo’s relationship with the market. Mr Coetzee didn’t mention the placement to me when we first spoke. However, I obviously had to follow up with him to understand why Kibo had raised money again, having last been to market in July. Kibo now trades at 1.32p (last seen), valuing the company at £3.45million. The question many are asking is, is this time to bail out or hold firm?

15 October 2014, 17:34 | By Tom Winnifrith, The Sheriff of AIM |

Quindell – it needs to come clear on the paydate change & how it affects cash claims

Hapless lapdog broker to Quenron (QPP), Cenkos has admitted that its client has “streamlined” its payroll procedures, Quindell has not clarified what occurred but in light of its claims about its cash position it needs to do so fast.

15 October 2014, 16:10 | By Malcolm Stacey |

Maybe its Time to Dump Minnows and Choose Whales.

Hello Share Kickers. Aim gets a lot of stick on this sumptuous website and often rightly so. When you relax the rules and don't insist on the higher standards of the higher market that is what's going to happen.

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14 October 2014, 21:44 | By Robert Sutherland Smith |

After 47 years in finance a few thoughts on the markets

Thoughts of Oliver Cromwell have come into mind as they - and many other unrelated things - sometimes do. Where are we going was the questioned my mind asked itself? And the once famous but now largely forgotten observation of the great Oliver introduced itself to my thoughts: ‘He goest further who knows not where he goest.”  Or in the words of John Lennon, ‘Life is what happens when you are making plans’. Exactly! 

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14 October 2014, 21:27 | By Ben Turney |

New World Oil & Gas; is the Niel deal off?

In the RNS announcing its AGM, New World Oil & Gas (NEW) forgot to mention it had posted on its website the notice of the AGM together with the proposed resolution for shareholders to vote on. The proposed resolutions and voting papers can be found here and, as is ever the case with New World, there are some extremely interesting omissions. First, despite having committed to it in the annual report, new CEO Peter Sztyk is no longer retiring as a director and seeking re-election. Second, and possibly much more significantly, there is no proposed resolution concerning the Niel Petroleum deal. Considering that the Takeover Panel’s verdict was that New World requires shareholder approval to complete this deal, this leads to the obvious question; is the Niel deal off?

14 October 2014, 21:26 | By Tom Winnifrith |

Quindell Morons of the Day Special – LSE Board

The slump in the Quenron (QPP) share price following yesterday’s disastrous trading statement has brought the Bulletin Board morons out in force. I spent a happy half hour last night having a butcher’s at the LSE Board. I felt rather like one of those Victorians who used to head down to the asylum to gaze at the lunatics in action. I know it’s a bit voyeuristic but just now and again it is entertaining to see these loons in action.

14 October 2014, 20:32 | By Ben Turney |

Afren; can it regain lost ground after sacking its CEO?

News broke last night that Afren (AFR) sacked its CEO, Osman Shahenshah, and COO, Shahid Ullah, after the company’s independent review found both directors had received “unauthorized payments”. As a constituent of the FTSE 250, Afren has shown it is possible for non-executive directors to act swiftly and assuredly in dealing with wrongdoing by executive board members. I can think of the odd board or twelve on AIM, which would do well to take note, not least because Mr Shahenshah was one of the co-founders of Afren. Now that he is gone and the company has dealt decisively with any controversy, can Afren’s share price regain lost ground?

14 October 2014, 19:09 | By Robert Tyerman |

‘Potentially huge’ target tempts Papua Mining

Ambitious explorer Papua Mining (PML) could soon find itself playing for big stakes at Tripela, its copper and gold porphyry prospect in Papua New Guinea (PNG) in the south-west Pacific, north of Australia. The AIM-quoted company, which is embarked upon a £1 million-plus 4,000-metre drilling programme at Tripela on the island of New Britain in PNG’s Bismarck Archipelago, says it has already encountered copper mineralisation of up to 29% in surface outcrops there and chief executive officer Hugh McCullough argues ‘the size of the target is potentially huge.’

23 May 2017, 15:23 | By ShareProphets |

The May edition of the UK Investor Magazine is live - Tips, UK Investor Show photo feature, and the the end of the EU

The May edition of the UK Investor Show Magazine is live featuring three share tips from Gary Newman, the Greek meltown is worse than everyone thinks, and the EU is not fit for purpose plus a photofeature from the 2017 UK Investor Show.

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21 May 2017, 12:58 | By ShareProphets |

New Bulletin Board Moron of the Week Contest - sponsored by Quindell founder & fraudster Rob Terry

This week's sponsor, serial company founder Rob Terry, has been in the news this past week over a lawsuit brought by Aussie legal poltroons Slater & Gorden claiming to be deceived over the legal division that they bought from Quindell. Slater & Gordon will probably do just fine unless Quindell (QPP) or Watchstone (WTG) as it is called these days, points out ShareProphets sent S&G a docket of articles before the purchase went through. Anything to help the boys and girls at Quindell!

17 May 2017, 08:18 | By Malcolm Stacey |

In Touch Company Deserves Your Attention as Profits Rise

Hello Share Shufflers. There is a Geordie company which wages war on switches and buttons. It makes touch sensors. You’ll see this kind of technology everywhere these days, beginning with your mobile phone.

17 May 2017, 08:33 | By Nigel Somerville, the Deputy Sheriff of AIM |

Advanced Oncotherapy – yet another director ponies up, EGM seemingly avoided and Bracknor converts. Most bizarre

Well this is most bizarre! Lobster-potted Bracknor has converted another lump of its death-spiral loan notes. That, of course, is not a great surprise until you study the detail of yesterday morning’s announcement from AIM-listed Advanced Oncotherapy (AVO), where we discover that the conversion shares have been issued not at the lowest daily volume-weighted average price of the past 15 days (21.35p) as per previously announced conversion terms, but at 25p (par price of the shares). Why has Bracknor elected to pay a 17% premium?

17 May 2017, 08:32 | By Darren Atwater |

Labour's manifesto doesn't just make sense, it adds up

The Tory-controlled media has been working overtime to convince voters that Labour wants a return to the bad old days of the 70s, with its fox hunts, its universities for the elites, and, wait... that's not right. Oh yes, the Tory-controlled media says that the Labour manifesto is a pinko-commie cloud-cookoo land fiscal LSD dream. It turns out that it is not.

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17 May 2017, 08:44 | By Tom Winnifrith |

Labour's Maths does not add up - Darren Atwater, Paul Mason and all the other London elitists are innumerate

Our in-house remoaning, money tree-worshipping, metropolitan elitist, Darren Atwater has posted an article suggesting that Labour's manifesto maths adds up. Maybe Diane Abbott and Darren think so, but no-one else will be fooled.

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17 May 2017, 08:33 | By Pizza Hardman Darren Atwater |

17 May 2017, 09:37 | By Tom Winnifrith & Steve Moore |

Petropavlovsk – board structure update amidst attempted coup

Petropavlovsk (POG) has updated on the attempted boardroom coup – including on its process to appoint an independent Non-Executive Chairman, a further independent Non-Executive director and opposition to the requisitioning shareholder nominees.

17 May 2017, 09:48 | By HotStockRockets |

Optibiotix - launch of Slimbiome and LPLDL products. Read closely & buy

OptiBiotix Health (OPTI) has announced what it terms the "successful" launch of its SlimBiome® and LPLDL® products at the Vitafoods Europe tradeshow in Geneva from the 9-11 of May 2017. The event provided the opportunity to connect with 16,500 industry decision makers from the supplements, nutraceutical, functional food and beverage industries. This is viewed as one of the world's leading trade fairs for the food and drinks industry. Yadda, yadda, yadda. Companies always say launches are successful. More jam tomorrow. So what. Etc. But no read on... We have underlined a few key words for you.

17 May 2017, 10:01 | By Tom Winnifrith & Steve Moore |

InterQuest – possible management buyout offer, a piss take

With shares in InterQuest (ITQ) yesterday having increased on the day from comfortably below 40p to well above, at 3:51pm (noting the “recent share price movement” - nothing suspicious to concern AIM regulation then!) a newly created company (Chisbridge Ltd) formed by Gary Ashworth, Chris Eldridge and David Bygrave (respectively InterQuest Chairman, CEO and CFO and 33.3%, 0% and 0.1% shareholders) ‘confirmed’ “that it is evaluating making an offer for InterQuest at 42 pence per share in cash with a full loan note alternative”. They're taking the piss, surely...

17 May 2017, 12:50 | By Steve Moore |

Proxama – having spent “throughout 2016” trying to sell Digital Payments division, now asks us to believe it’s “the best owner” after all!

Proxama (PROX), 13th December 2016: “We have been reviewing various options throughout 2016 to sell the Digital Payments division with a priority being to maximise shareholder value… The company remains committed to the sale and we believe that it will be completed”Today: “the board has concluded that we remain the best owner for Digital Payments division… retaining this division as part of the group, with an updated strategy”. Haha – so having spent “throughout 2016” trying to sell the business and stating it “committed to the sale”, we’re now asked to believe that the company is actually “the best owner” for the business after all!?!...

17 May 2017, 15:10 | By Steve Moore |

Foxtons – Q1 2017 trading update, still a short?

London estate agency Foxtons (FOXT) has updated on the first quarter of 2017, seeing a significant decline in revenue on the corresponding 2016 period though arguing “performance has been in line with the board's expectations”

17 May 2017, 16:44 | By Steve Moore |

Corero – announces “secures second $1m+ SmartWall customer”. How much is the order for?

An announcement entitled “Corero (CNS) secures second $1m+ SmartWall customer”. Sounds good but, having previously written bearishly on this company, let’s take a look at the detail here…

18 May 2017, 08:03 | By Malcolm Stacey |

As Hackers and Computer Bandits Grow in Strength, so Does the Presence of this Techno Sheriff

Hello Share Graters. I’m always trying to find companies you may not be aware of. It’s a way of widening the scope of this largely critical website. Today I commend to your further investigation a company called Defenx (DFX).

18 May 2017, 08:12 | By Tom Winnifrith |

If Corbyn wins the election I'd be better off moving my business to Greece - the simple maths

Jeremy Corbyn has promised to raise Corporation Tax from 19% to 26%, while the tax on dividends in the UK is now 25%. As far as I know that is not going to be increased by Labour, but who knows? The bottom line is that, as a part-time Greek resident but UK taxpayer, it actually makes sense for me to become a Greek resident and Greek taxpayer if Labour wins. Yes, this economic basket case run by socialist lunatics is a better place for me to do my business than a Corbyn-run Britain. Here are the maths....

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18 May 2017, 10:11 | By Nigel Somerville, the Deputy Sheriff of AIM |

Advanced Oncotherapy – another Bracknor Conversion, but look at the terms: how’s the Going Concern statement coming along?

Well, well. How do you issue shares at a discount to par? Simple: pay a whopping fee to the subscriber. AIM-listed Advanced Oncotherapy (AVO) has announced another loan note conversion under its death-spiral funding package with Bracknor and a new fee seems to have appeared which might just derail discussions between the company and its auditor as they work on the going concern statement for the forthcoming FY16 results due out by the end of next month. Oh dear, oh dear.

18 May 2017, 09:56 | By Tom Winnifrith |

K3 Business Technology – another profit warning, faith lost. Sell.

K3 Business Technology (KBT) has updated that it “now believes that the results for the year to 30 June 2017 will be significantly below current market expectations” as “certain large Enterprise contracts have not been secured as expected”...

23 May 2017, 15:23 | By ShareProphets |

The May edition of the UK Investor Magazine is live - Tips, UK Investor Show photo feature, and the the end of the EU

The May edition of the UK Investor Show Magazine is live featuring three share tips from Gary Newman, the Greek meltown is worse than everyone thinks, and the EU is not fit for purpose plus a photofeature from the 2017 UK Investor Show.

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22 May 2017, 08:26 | By Nigel Somerville |

Is Tom Winnifrith right to out companies doing placings?

The busting of a placing by AIM-listed UK Oil and Gas (UKOG) at 1p by Tom Winnifrith has caused a bit of controversy. It is not the first time he has been accused of being irresponsible by blowing the lid on a placing only for it to be pulled or the price dropped. Anyone left holding the baby gets their fingers burned – in the recent example quite badly if they had been buying into the ramp at north of 1.4p only to see the company raise cash at just 0.8p. Is it right?

23 May 2017, 15:23 | By Tom Winnifrith |

New Bulletin Board Moron of the week sponsored by Granny Snuffs & Wildes

The nauseating Mail on Sunday fawned upon Pippa Middleton and her ghastly family as they celebrated the "wedding of the Year"Bring on the revolution! But perhaps the real wedding of the year should be between our two very own in-house Bulletin Board Morons GrannySnuffs & Wildes who seem made for each other. can you find examples on the LSE Asylum, iii, ADVFN or twitter of comments more idiotic than those of our own dream team? If so post in the comments section below, the deadline is midnight Sunday 28th May.

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22 May 2017, 15:31 | By Steve Moore |

Infrastrata – cash crunch & sack-the-board General Meeting ahoy… so it’s strategic review time!

Having bought itself some time by declaring an initial sack-the-board General Meeting requisition “invalid” (a revised, valid requisition announced by it at an attempted ‘no one watching o’clock’, 5:15 pm, on Friday), Infrastrata (INFA) has this afternoon made a “Review of stategic options & project update” announcement...

22 May 2017, 16:31 | By Nigel Somerville |

Minoan – acquisition, placing, debt update

AIM-listed travel agent and wannabe Greek holiday resort developer Minoan (MIN) announced a small bolt-on acquisition this morning….and a placing. Oh, and an update on its debt facility due to expire at the end of June. It is disappointing to see a placing (at 9p), but in the general scheme of things it is a relatively small amount so the pill is sugared to some extent.

22 May 2017, 08:24 | By Pizza Hardman Darren Atwater |

23 May 2017, 08:35 | By Tom Winnifrith |

Amryt at 22.5p worth 62p - new 44 page report

Take a look! European investors are clearly failing to grasp the very significant financial and commercial benefits available for Orphan or Rare Disease drug developers. So much so in fact, that sector-focussed Amryt Pharma (AMYT) finds no quoted peers in London, yet a good basket of NASDAQ-listed comparables are seen to command a significant premium despite mostly being pre-revenue and somewhat earlier in their development. Such anomalies can and, of course, do rapidly correct. 

23 May 2017, 08:35 | By Cynical Bear |

Challenger Acquisitions: Shameful rampathon – the FCA should investigate

Any reader of my pieces will know I hold Challenger Acquisitions (CHAL) in pretty low regard but the outrageous ramping that has now gone on for the last four trading days is an absolute disgrace and the FCA should take a look. I’ll explain.

22 May 2017, 10:03 | By Tom Winnifrith |

Eden Research - Financials suggest its going tits up, FRC pans it after my request), Part 1

Eden Research (EDEN) has today published godawful results and admitted that my very good friends at the Financial Reporting Council (FRC) investigated it - after I requested such an investigation - and have forced it to restate past numbers. It claims that the FRC has now settled all matters. Au contraire. that is another lie from the fraudsters and there are many more porkies in this statement. Truly, the pants of shamed PR Paul Queenie McManus of Walbrook will be cinders and ash after this effort. This all came out as Eden published Godawful numbers for calendar 2016.

23 May 2017, 08:34 | By ShareProphets |

UK Investor Show 2017 ‘Dragon’s Den’ picks update

The sold-out success that was the 1st April 2017 UK Investor Show again saw five 'Dragon's Den' sessions where a number of CEOs each gave a pitch and three Dragons each picked one stock for a £1,000 investment. How are they faring so far?...

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23 May 2017, 08:34 | By Tom Winnifrith |

Andalas raises £600,000 - which means net cash is less than ZERO - it's still bust & worthless

With some great investigative journalism of which this website would have been proud, Brokerman Dan flushed it out a few weeks ago. The former bank robber - correctly - stated that Andalas (ADL) was looking to raise £1 million at 0.06p and the AIM listed crock of shit suspended its shares. Today they are unsuspended after the company raised £600,000 at 0.1p. It says this is at a premium to the suspension price. But it is a spoof, Andalas is still bust. It is insolvent as of today!

22 May 2017, 10:02 | By Tom Winnifrith |

Malcolm Stacey misquotes me but is wrong about Inmarsat anyway - don't fight the tide

Malcolm Stacey is old enough to know about King Canute. In fact he is so old that he was there as a boy when the King sat in his chair on the beach and attempted to turn back the tide. Malcolm surely you remember the day as if it was yesterday? In which case why do you forget this valuable lesson when it comes to Inmarsat (ISAT) and your article today in which you misquote me and get it wrong in so many other ways.

22 May 2017, 10:01 | By David Scott |

Elect a clown, get a Circus

"A credit crunch is brewing and when it happens, the UK is going to get hurt."  These are not my words but the start of the Editorial in this weekend’s Guardian. The article then went on to say "That is the message emerging from senior executives in the financial services industry, who do not think Britain has changed that much since the 2008 credit disaster and the devastating crash that followed. Three developments lie at the heart of this disturbing analysis: spectacular growth in the sale of second mortgages, car loans and credit cards." I would heartily agree with these comments as this is my experience too. But what the article fails to say is that the UK is not alone in this debt bubble - once more it is a Global issue.

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22 May 2017, 08:09 | By Malcolm Stacey |

After Falling to Earth, This Sci-fi Share May Rocket, Once Mr Spock Locks On

Hello Share Scoopers. There have been quite a few occasions now that I’ve commended a Footsie satellite company to your attention. On each mention, as I recall, the share grew in value. However, last year the shares took a big knock.

23 May 2017, 08:16 | By Malcolm Stacey |

All Eyes On OPEC. Will It Come Up with Goods or Will our Oil Shares Slide Down a Greasy Pole?

One of the most fascinating scenes I’ve seen for some time is the sight of Big Donald jigging around with some sort of weird entertainment put on by the Saudi’s for the President's visit. It almost made me forget the big benefit of this amiable state visit on share shifters like us. And that of course is that the President’s friendly reception sent the oil price up.

22 May 2017, 11:35 | By Steve Moore |

Corero Network Security – service launch of a contract announced a month ago. Ramptastic!

An announcement from Corero Network Security (CNS) with a headline “Corero Tier 1 Internet service provider customer GTT Communications, Inc. launches DDoS Mitigation service”. Then “further to the announcement on 19 April 2017 regarding a Global Tier 1 Internet service provider customer win… announces that the customer, GTT Communications, Inc. (NYSE: GTT), has launched its DDoS Mitigation service”“Global Tier 1” now hey! And you what? The contract win has already been announced? Ramptastic…