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Notes from Underground – Most read articles for the week ending 28 October

Here are the most read and most listened-to articles and Bearcasts on ShareProphets over the past seven days. The most read non-Quiz, non-Tom article last week is by Steve Moore, Velocys – “delighted to announce” launch of new technology facility. Er, what about going concern though?! at No 1 or No 3 including Bearcasts.

EUA
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A Comparison of AIMs Largest Fake Takeover with the Upland Amateurs

This week we celebrate the official anniversary of AIM’s largest ever fake takeover. Four years ago, on 24 October 2019, Eurasia Mining (EUA) blew the starting whistle with an RNS that would ultimately see its market cap inflated from just under £10 million to a peak of £1.2 billion. During that time, whilst supposedly seeking to sell its assets, Eurasia placed to raise funds three times, raising a total of $45 million from shareholders. All that money has gone now!
UPL

Bulletin Board Moron of the week: bmwman on ADVFN? Can you do better?

Upland Resources (UPL) shares will collapse on Monday after the shocking after hours admission that its supposed bid approach was in fact a complete scam, as discussed in bearcast earlier HERE. As I am 100% vindicated and enjoy another celebratory ouzo, bmwman has identified the real culprits in what is a crime. I despair. The moron posts
RNO
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Renold – now again a trading Buy

Industrial chains and related power transmission products company Renold plc (RNO) issued an update just last month concluding “as a result of the continued positive trading momentum, and an increase in activity from the recently announced Davidson acquisition, the board now anticipates achieving results for the year ending 31 March 2024, higher than previously expected”. That helped the shares up to 31p but that was only a level they had been at as recently as May and this month they have fallen from above 30p at the start towards 27.5p. Recently they have started to recover, but we suggest there is a lot further to go from a 28.4p offer price.
Bearcast
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Tom Winnifrith Bearcast: Upland admits the 14p, £166m, bid was a complete scam - vindication for the Master of penny share fraud busting

I was on a road trip yesterday so only noticed the after hours 'fess up late in the evening. Upland's shares will be destroyed, it is a complete vindication of my coverage and some folks should be going to jail if the FCA, regulator of the Standard List, launches a criminal enquiry as it must do. Upland Resources (UPL) management are - at best - guilty of criminal naivete and negligence, To show that they are not part of a criminal conspiracy, perhaps involving the tweet below, they should be demanding an FCA enquiry - I hope you followed my short advice as these shares will, as I predicted, collapse like a failed souffle on Monday.
SLP
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Sylvania Platinum – Q1 update, a recovery Buy

Platinum group metals producer from South Africa, Sylvania Platinum (SLP) has issued an update on the first quarter of its year noting a “15% lower PGM basket price recorded during the quarter” but that it remained profitable and that its cash balance increased 2% to $126.9 million during the quarter. So what of a market cap around £200 million?
Cat_Fixing_Lightbulb

Something new from ShareProphets Labs: Listen to this article

If you are a paid subscriber, you'll see a new box at the top of every story: ‘Listen to this Article’. Click play, and no surprise, a robot will read out the article to you. I'm putting this up over the weekend and may take it down by Monday, it depends what ShareProphets readers think. It's very much a beta version but if people like it, we'll take the time to improve it.

RIO

Two Nasty Wars Directly Affect Share Prices. How Should we Play it?

Hello Share Gatherers. You'll be uncomfortable discussing this subject. But even in the throes of horrible war, life for most of us, and our trading of shares, goes on. So perhaps we can live with our guilt about assessing which shares will rise and those that’ll fall because of the two hideous current conflicts.

  • 28 October 2023, 09:38 |
FA
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FireAngel Safety Technology – recommended offer, for shareholders “a certain path to recover lost value”?…

FireAngel Safety Technology Group (FA.) has announced agreement on the terms and conditions of an offer from 17.5% shareholder Intelligent Safety Electronics, owned by Siterwell Electronics Co., Ltd, which it emphasises as “a significant premium to FireAngel's current prevailing share price” and following a review which “considered a number of options for the group in order to ensure all potential avenues to build stakeholder value have been fully explored”. Good news for shareholders then?
Bearcast
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Tom Winnifrith Bearcast: NatWest Warns but why is it not demanding the £11m back from Alison Rose? Ouzo for Farage and, on another matter, myself

To anyone still listening: in today's Bearcast I discuss Global Petroleum (GBP), Regtech Open (RTOP) and the ongoing failure of the FCA to address a £189 million fraud, Safestyle (SFE) and FTI Consulting and NatWest Group (NWG), its profits warning, its Farage report (a whitewash), Alison Rose and why I don't own any banking stocks.
SFE
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Safestyle UK – hopefully our prior warnings were heeded as it hasn’t taken long for others to recognise it should be 0p for shareholders… and shares suspended!

Today no-longer describing itself as “the leading UK focused retailer and manufacturer of PVCu replacement windows and doors for the homeowner market” as it did just yesterday, there’s a “Further Update on Process & Suspension of Trading”-titled announcement from Safestyle UK (SFE). How’s this then following I previously noting that, with its clearly dire negotiating position, it was good luck with its sale discussions!?

GBP
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UPDATED: Ouzo time: Peter Hill and Global Petroleum – a champion fat cat value destroyer: is the gravy train, finally, on the rocks as Panmure tries 0.045p bailout

On 13 October 2014 I wrote a piece: “Peter Hill (MA Oxon) of Global Petroleum – a case study in AIM casino piggery”. Global (GBP) shares were then 3.5p down from 12p three years prior when Hill took over. Hill has trousered millions since then and the shares are now just 0.0675p and that could well be 0.0675p too high for there is a horrible warning today.
KETL
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Strix – another two red flags

Steve Moore and I have warned you all often enough about Strix (KETL), the company claiming to be revolutionizing the world of kettles. Today another two big red flags.

SVE
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Starvest – Another one bites the dust, and another one gone, and another one gone

Another day and another company announces that it is to depart the AIM sewer, the self-styled world’s most successful growth market. This time it is the specialist mining and resources investment company Starvest (SVE) founded by the late Brice Rowan. This departure, unusually, is good news for shareholders.
IAG
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If you can afford a plane trip, then IAG will happily take you (to most places in the world)

I asked the correct question back in May, of how International Consolidated Airlines (IAG), which you will previously know as British Airways, was “feeling about 2024 (and beyond)?”. So far however I have come to the wrong conclusion, a point made not only by its own share price but also rough peers such as easyJet (EZJ) too…

SHG
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Shanta Gold – Q3 update, gold production “in line with expectations” and upside potential

Shanta Gold (SHG) has announced third quarter 2023 gold production across its two operating mines of 27,935 ounces, in line with expectations, and also continued exploration progress.
VCP
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Will Geoff Wilding at Victoria face huge margin calls and what will he do?

Both Lucian Miers and I have been long term bears of carpets roll up play Victoria (VCP) for a host of reasons, one of which is the “colourful” CV of head honcho Geoff Wilding. Another reason is the massive number of acquisitions some of which appear to make no sense at all. A third is its inability to generate free cash while always reporting stonking profits and a fourth, derived from that, is the debt and liability laden state of its balance sheet.
SBTX

SkinBioTherapeutics – updates on acne consumer study and trading, Strong Buy on a winning share tip, target 50p+

SkinBioTherapeutics (SBTX) has announced that it is commencing a consumer study which it considers “is potentially a major step towards the commercialisation of a new probiotic treatment that could address the root causes of conditions like acne”, as well as noting “trading for the full year to June 2023 was in line with market expectations. Cash at year end was £1.3m, ahead of expectations of £1.1m, and the company continues to control its costs”. What of this news from a current 27p share price, £46.7 million market cap?
HAYD
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Haydale – “Pleased To Announce” FY Numbers From (Yet Again) Bailed Out AIM Graphene Outfit

AIM-listed graphene outfit Haydale (HAYD) was “pleased to announce” its full year results to 30th June 2023 this morning. This, despite having to be bailed out yet again post-period with another massively dilutive rescue package as the company delivered a pre-tax loss of over £6.5 million! What on earth is there be pleased about?
KMK
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Kromek – “award of $5.9m contract”. Attempted ramptastic?

Describing itself as “a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments”, Kromek Group (KMK) states that it is pleased to announce it has been awarded its first biosecurity contract from the US Department of Homeland Security and that this underscores its belief that there are significant market opportunities in this area. So what of the shares currently responding 8.4% higher to 4.5p in response?
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ANP

Anpario – a recovery Buy?...

Thursday »

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Bearcast issue update: all should be well

 

ORCP

Oracle Power: Cynical Foul

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