I noted late yesterday evening Provident Resources (PVR) updated the market, confirming the receipt of placing share monies from its new partner, SpotOn Energy. Nigel Somerville highlighted the delay, which was a concern given the history of failed deals. I can see some reasons to be hopeful, but its early days.

This morning AIM-listed Catenae Innovations (CTEA) revealed the next steps in its Covid-19 spoof: its joint venture to Covid-19 test status app is being rolled out…..to what looks like a single GP practice in Newcastle. That may appear small beer already – not that this stopped the BB loons from piling in first thing this morning – but this roll-out is in fact just a proof-of-concept pilot. 

Hello, Share Scramblers. You may be surprised to learn that I know an energy company which is not too far from its year-long high, despite the virus which has decimated many of its peers...

Firstly the links. For reasons discussed, if you are not registered with Primary Bid register for free now HERE. Secondly we are at 33% help us to save Woodlarks donate HERE. Heck even daughter Olaf has dipped into her vodka funds to donate. In the podcast I look at IWG (IWG), Pathfinder Minerals (PFP), Cineworld (CINE), Bidstack (BIDS), Fox Marble (FOX) and, sorry Jim, Condor Gold (CNR). I also look at the "wisdom" of appointing a Chief Diversity Officer. 

A “Trading Update and AGM arrangements” announcement from “designers, developers, distributors and retailers of sports, leisure and mobility equipment” Tandem Group (TND) includes “bicycle sales have been materially higher with year to date revenue 77% ahead of the prior year and the forward order book significantly higher than last year to date”… and the shares have currently responded to 250p, er approaching 4% lower!...

I will be doing some painting at the Welsh Hovel on the 3-4 June. I shall set up a webcam so you can watch the results of my work dry over a 48 hour period. But if that sounds just far too exciting, the Personal Investment Management & Financial Advice Association, PIMFA, has something designed for you.

Attis Oil & Gas (AOGL) formerly Mayan Energy and Northcote Energy has long been a stain on the underbelly of the AIM casino. Today it enters a new chapter of infamy and once again the architect is broker Peterhouse Corporate Finance. Before today there were 3.9 billion shares in issue. Now, following a debt for equity swap and a placing at just 0.0115p, there are 14.7 billion and Peterhouse has been given enough warrants to take the fully diluted total to 15 billion.

Writing on i-nexus Global (INX) in July it was from AIM IPO “strong competitive position” to “revenue and closing cash balances will be below expectations” in just over a year! – with I concluding the company now really “comfortable that, with a continued focus on costs, the business retains sufficient funding to execute on its growth strategy”? I’m certainly not for long and, even with the shares currently down to around 25p, avoid / sell – and another AIM IPO roll-call of shame…. Now results for its half-year ended 31st March 2020 – and the shares currently significantly further lower in response to around just 4.5p!...

I have covered the shenanigans at Peterhouse & Chris Akers ramp All Active Asset Management (AAA) a number of times, notably HERE.  At 2p it is valued at £15 million its net assets are, at best, £5 million. Now we have news of management change and this makes the stench ever more overwhelming.

Bidstack (BIDS) a company that is on the brink of insolvency with almost no cash has today issued an AGM statement that is so thoroughly deceptive in failing to explain the crisis the company faces that its Nomad Mark "the poltroon" Brady at SPARK should be censored for signing off on it.

Another day, another bunch of COVID-19 related updates…and two names grab my attention. The first of these is FirstGroup (FGP), the bus/rail operator which I described six weeks ago as 'a survivor, especially with recent cost cutting and pension simplification rules...however the hope of competing activist approaches driving up value for shareholders has gone'. In that article I suggested a quid a share as a target for the operator of a bunch of key services including school bus and commuter-centric rail routes...

In our 2.40p offer price recommendation of Asiamet Resources (ARS) in January, we noted “on-going” corporate partnership discussions, including “there has been a lack of investment in the copper sector over a number of years… causing a constraint in future supply… this is also notably reflected by those the company is currently in strategic discussions with”. Now a “Corporate Update” including the company “has been informed by Aeturnum that it has finalised all due diligence workstreams and intends to enter into negotiations with Asiamet for a partial or full acquisition of the KSK Contract of Work”...

Hello Share Mashers. One of the sectors which shouldn’t be too affected by the coronavirus is the utilities, those companies that supply the essential needs of electricity, gas and water. To choose a utility should leave your dividend fairly safe, while the share price should not be overly vulnerable to virus-related disasters. One of my favourite companies is United Utilities (UU.)...

Previously updating on Bluebird Merchant Ventures (BMV) we’ve noted confidence that funding to take it to gold production would be concluded… and now an update including that the company “is pleased to report that the South Korean company has successfully completed its due diligence and has advanced to the point at which financing terms will be confirmed shortly”...

We are now at almost 33% of the way to our Rogue Bloggers (well just me) for Woodlarks target. Today I do 11 laps of the fields here in a training walk, so please donate ahead of that ordeal HERE. In the podcast I discuss Gervais Williams, Avacta (AVCT), Novacyt (NCYT), Supply@ME Capital (SYME), Amur Minerals (AMC) and Fox Marble (FOX), with whom I am very cross indeed. I also look at British Land (BLND) which I inadvertently refer to as Land Securities (LAND) in the podcast and commercial property in general.

As regular ShareProphets readers will know, AIM-listed oil explorer Providence Resources (PVR) somewhat blotted its copy book last year when a long promised and re-promised investment failed to materialise, leaving the company in financial dire straits – and CEO Tony O’Reilly eventually walked the plank. Surely it is not happening again?

I have already shown that there are more red flags at uber dog Iconic (ICON) than in Moscow on May Day. But after taking a further review of the Prospectus issued on 25 March 2020 and recent RNS announcements I note four more for the collection. Whatever is Tory MP Damian Collins doing getting mixed up in this shit show?.

‘Image capture and content’ products designer and manufacturer Vitec Group (VTC) has updated including “all of our manufacturing sites are now operational”, “trading conditions in May are starting to improve… firmly believe that Vitec's end markets will recover well once the crisis is over as the demand for original content continues to grow” and “Vitec has a robust financial position with liquidity, long-term financing and short-term flexibility”. The shares have currently responded more than 3% higher to 650p, though still comparing to more than 1000p in February...

Investor Chris Temple argues that in the late 70s and early 80s, the dollar was inversely correlated with gold, and the markets reflected the real economy. Today, everything is inverted, but a lot of investors and experts still have the old out-of-date mindset.

I have noted many times before that SP Angel is so utterly desperate for clients to fund the coke and hookers bills that it will act for any corporate even a brazen fraud like MySquar (MYSQ). It is morally bankrupt and, without doubt, London's worst Nomad. As such with WH Ireland having quit as Nomad to Eurasia Mining (EUA) over the lying and other matters there was only one Nomad to go to, only one that would act for a company like this.