By Tom Winnifrith, The Sheriff of AIM | Wednesday 13 January 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It was all so predictable. On 6 January African Potash (AFPO) issued an RNS which was both utterly pointless but also just about credible enough to have the Bulletin Board Morons/Zak Mir frothing. The morons ploughed into the aftermarket - not noticing that the RNS was in fact just confirming that part of a deal already announced several months prior had been completed but that no financials were revealed - paying up to 2.1p per share. The crony capitalists said "thank you very much cannon fodder" on the back of the pump and today came the dump... a placing raising gross proceeds of £825,000 at just 1.7p. However...
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