Shares in AIM listed oil junior Lekoil (LEK) are currently trading just off year lows of 35p. You may say that this is not unusual in the current climate but hang on, let’s review what is actually going on here for the company which is now capitalised at £84 million.
AIM-listed staffing and managed services group Impellam (IPEL), which conducts business primarily in the UK and North America, with smaller operations in Australia, Ireland, New Zealand and mainland Europe, has announced, for the first half of 2013, a pre-tax profit of £11.1 million on revenue 1.4% higher than in the comparative prior year period, at £591.7 million, generating earnings per share down by 27.5% on an underlying basis at 20.05p. This has seen the interim dividend – to be paid on 2nd September to shareholders on the register on 2nd August – cut to 5p per share (from 7p).
Invensys plc (ISYS), the FTSE-250 constituent in the midst of a possible takeover offer, has updated that it has overall “made a solid start to the financial year with performance generally in line with our expectations… we do not expect any significant changes to general market conditions in the near term”...
Finally shares in Hibu (HIBU) have been suspended ( at 0.175p). The company is seeking a partial debt to equity solution which will see lenders get ALL of the equity in a new company which will retain all the operating assets plus some debt. The existing company is thus left with nothing and is worthless. Its shares have been suspended and investors told it is a wipeout. And some Bulletin Board Morons regard this as a surprise?
The latest newsletter from the leading precious metals fund management group Sprott deals with Canadian mining juniors but it is equally applicable to AIM. There are one or two rather painful home truths for us all to consider. It reads:
Shares in semiconductor wafer manufacturer and supplier IQE plc (IQE) have offered a volatile ride since I tipped them on my Nifty Fifty website at a 28.5p offer price in December – hitting 36.5p in January and February before falling back, particularly following some (what look misguided) competition concerns to commence the current month at just 18p. However, they have since recovered strongly and have nudged further higher today to 26.75p-27.25p on the back of a bullish update. They are still cheap.
Commissioned researcher Edison has published a detailed buy note on biotech mid-cap BTG (BTG) in which it tweaks its models upwards. The report asserts that BTG is both a beneficiary (Zytiga sales growth) and casualty (brachytherapy sales decline) of the changing treatment landscape for metastatic prostate cancer (mCRPC).
Shareprophets can reveal that infamous bear raider Evil Knievil has acquired a near disclosable stake in AIM listed Orosur Mining (OMI) after buying heavily at c7p. The shares are now 9.875p valuing Orosur at £7 million but Knievil (the alias of Simon Cawkwell) argues that on a break-up basis the gold producer is worth $30 million.
AIM listed Alkane Energy (ALK) has acquired a part licence interest in UK Onshore Licence AL010, for CMM exploitation, from GP Energy Limited (a subsidiary of Dart Energy), and has also bought out a revenue royalty owned by GP at the 3MW CMM site at Florence, Staffordshire.
Leyshon Resources (LRL) has announced the commencement of drilling of well 'ZJS7' on the Zijinshan gas project in China – this at a location approximately three kilometres to the northeast of well ZJS5 after a recently completed formation pressure test there, following a three week shut-in period, “recorded 16.5MPa/2425psi on a single zone, significantly higher than that recorded in nearby wells in the same strata”.
Whilst New World Oil (NEW) shares have suffered dreadful ride in 2013, losing 94% of their value from the glory days of 10p, now may be the time for a small speculative buy at 0.55p.
When I last wrote on Plastics Capital (PLA), the AIM-listed plastics products for niche markets-focused manufacturer, I expressed a degree of near-term caution with the shares at 107.5p – see HERE. They now, post results for the company’s year ended 31st March 2013, trade at 100p is it time for a volte face?
Fenner (FENR) is the company that makes advanced conveyer belt systems but which most of its money not from sales of new conveyer belts but from maintaining those already sold; reportedly accounting for 86% of sales revenue. So its prosperity is not so much governed by the opening of new mines but from mine companies seeking, as they are now, to maintain the highest possible levels of operating efficiency in existing ones.
FTSE-250 LED technology (to reduce industrial maintenance, save energy, improve safety and ease disposal) company, Dialight (DIA) has announced a first half of 2013 underlying pre-tax profit from continuing operations of £5.4 million on revenue 12.8% higher than in the comparative prior year period, at £59.9 million, generating underlying basic earnings per share of 11.6p, down from 17.3p... Consensus estimates for the full-year were for earnings per share (2012: 41.7p) of more than 51p – which looks a big ask given the half-year performance...
Motor dealer HR Owen (HRO) is an arb trade. On 18th July the company rejected an offer from Berjaya Philippines at 130p a share saying that it was not good enough. It is not.
But the bid places HR Owen in play or at the very least will see brokers revalue it or get a higher bid from the same predator or another. Either way all things point north.
Specialist resource stocks broker VSA has initiated its coverage of oilfield services group Kentz (KENZ) at 423p arguing that the shares are worth 590p. The broker states that:
I take my hat off to Ryanair (RYA). I would not fly with it because its service is shite but it hates cretinous regulators and its press releases can be a hoot and today’s is a classic as it has another go at the morons who run the UK Competition Commission (CC).
This company is only two months old. It was formed out of an old AIM listed vehicle 3D Resources (3DR) and is now an investing company. But unlike most investing companies on AIM AfriAg ( AFRI) does seem to have a plan other than fees all round for the advisors and directors.
Reach4Entertainment (R4E) the company formerly known as Pivot and before that First Artist has served up two great pieces of news today. The best is the departure of the grossly overpaid finance director Shirley Stapleton, but it gets better.
AIM-listed gold producer from Tanzania, Shanta Gold (SHG) has announced second quarter of calendar 2013 gold production of 14,448 ounces, up from 11,888 ounces in the prior quarter, and that “phase two of the planned plant improvements has been successfully completed with the commissioning of the upgraded crushing circuit carried out in early July”. However, “as a result of the uncertainty of increasing the volume through the incinerator without further upgrades, the company expects to achieve the lower end of its previous guidance of 63,000 - 70,000 ounces for the full year”...
The June edition of the UK Investor Show Magazine is live featuring three resource shares to buy, two more share tips, a voting guide for investors, and where to emigrate if the wrong party wins a special offer expiring on June 14 and much more.
Queenie smears journalists and spins for all the worst companies on the casino from fraudsters Eden to Advanced Oncotherapy to Norfolk's finest Fusionex. He truly is a posterboy for AIM and thus a fitting sponsor for this week's contest. The challenge: We're looking for exemplary examples of sheer stupidity from those founts of brilliance; the Bulletin Board Morons who dwell on the cesspits that are LSE.co.uk, III.co.uk and ADVFN.co.uk. The deadline to post your entries in the comments section below is midnight, Sunday 2 July.
Slater & Gordon (SGH) spunked £649 million on buying the worthless, fraudulent assets of Quindell (QPP) in 2015, a deal that has seen its shareholders suffer a 99% wipeout. It has now filed a UK High Court claim against Watchstone (WTG), Quenron as was for £637 million and we have obtained the papers and, in a major scoop, publish the Claim in full below.
I tipped shares in Saffron Energy (SRON) but urged folks to take profits some months ago. The shares were then 8p+ having listed at 5p. In recent weeks the shares have slithered back towards that 5p and I have been urged by folks to re-tip. I resisted that urge. Something was wrong. Now we all know what some folks have clearly known for a while, what the problem is.
It has taken more than two decades and exposed the Greek planning system for the total joke that it is but Minoan (MIN) now has the all clear to go ahead and develop the spectacular Cave Sidero site in North East Crete.
You may know Tom Winnifrith as the man who exposes fraud on AIM and gets a stack of death threats and lawyers letters for his troubles. Just on Tuesday he has published a massive exclusive on Quindell, the biggest London stockmarket fraud for 30 years, and a con the regulators thanked him for exposing. That breaking news is HERE.
It is good to see a CEO putting his money where his mouth is and the share purchase by Erik Henau should also scotch the silly rumours that a placing is imminent. The Concepta (CPT) head honcho has purchased 80,000 shares at 12.175p. He now owns 293,333 shares so in that context this is a decent purchase. We'd hope to see more boardroom buying soon but expect also to see more hard news on order flow very soon.
I guess if you write for a website that makes the Official Jimmy Saville Fan Club website seem well read and popular, it forces one to also post on Bulletin Boards in order that your words of wisdom/attempts to ramp your flagging portfolio reach an audience of more than three men and a dog. Speaking of dogs - Watchstone (WTG) is stock which bear raider turned Bulletin Board Moron Evil Knievil has long argued is worth 500p. The shares are now 140p ( and falling) after yesterday's massive revelations from me HERE.
I bet the BBC News picks up on it and runs with it too. But its sister publication is quick out of the blocks...The Guardian today runs with a raft of misleading headlines and other fake news as is its wont but the one on Brexit driving EU workers abroad wins the prize. The left wing rag with plunging sales and spiralling losses states: "Almost half of highly skilled EU workers 'could leave UK within five years". The sub head is "Deloitte study finds 47% were considering leaving after Brexit, while overall one-third of non-British workers could leave". Right, okay but hang on what did the survey actually say and was it big enough to be statistically valid?
AIM-listed Advanced Oncotherapy (AVO) has released its full Annual Report. Having looked yesterday at a few things I thought it would be worth a second look – especially in the light of a clean audit report from RPG Crouch Chapman. Mea culpa to myself and Tom who expected something different, but hang on a minute…
Another day and another director walks, a new strategy is adopted and yet more confetti is issued by AIM casino uber dog Mayan Energy (MYN), formally the hound known as Northcote Energy. But this latest move just makes no sense at all. Let me explain with a little bit of help from a friend....
I warned you in explicit terms yesterday that the doubling of the Strat Aero (AERO) share price to 0.14p on the back of results which can best be described as a shit sandwich with dollops of jam tomorrow on top, was not justified. The shares have now slumped back to 0.09p-0.11p (TW 7, BBMs 0 once again) but do not BUY now for there are still deluded fools abroad.
Metal Tiger (MTR) has updated on exploration at the Logrosan Minerals joint venture in Spain – helping the shares currently slightly higher to 2.03p mid.
A year ago Ronald Stoeferle stated that we were at the very beginning of a bull market in gold, He was wrong. He says that was stopped by Donald Trump. Gold and commodities are dirt cheap when compared to stocks. Equities, bonds, and real estate are at or near their all time highs. He thinks the dollar is close to rolling over.
In a sense this is not that relevant as Advanced Oncotherapy (AVO) is within a couple of months of running out of cash and going tits up but on a point of principle I have written to the my very good friends at the Financial Reporting Council as there are aspects of Advanced's 2016 annual report and accounts which stink more than a pile of rotting kippers left out at a sewage farm in the scorching midday heat. The letter follows:
A few weeks ago I penned a piece on Blenheim Natural Resources (BNR) in which I was highly skeptical of the recent holdings RNSs from a certain Pershing Nominees/Valbury Capital.
Worthless AIM listed piece of excrement Servision (SEV) always seems to report its results at the last possible moment to avoid suspension on the casino. In 2016 calendar 2015 numbers (piss poor) arrived on the 30 June deadline day. For 2016 its a slam dunk bet that the numbers (piss poor) will arrive this Friday on deadline day. Why is that?
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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