Notes from Underground – Most read articles for the week ending 22 Jan 2023

The most-read non-quiz non-Tom article this week is by Nigel Somerville with Centamin – Court Win Secures Mine Concession Agreement: BUY  at No 5 or No 11 including Bearcasts.

The most read ShareProphets regular stories this week were:

1. BREAKING EXPOSE: The scandal at Caracal Gold, what a colourful cast of “characters” – this is a zero
   If the name Caracal Gold (GCAT) does not ring a bell, count yourself lucky not to have this dig in your portfolio because it is a zero and one where the FCA should be crawling all over everything. Until 16 months ago, Caracal went by another name.
   
   
2. Ethiopian Minister of Mines sacked – this is very good news for Kefi
   The Ethiopian Minister of Mines, Takele Uma, was apparently sacked yesterday at a cabinet meeting. Rumours in Addis suggest that he stands accused of industrial corruption. Well knock me down with a feather.
   
   
3. Twitter troll glorifies violence against Tom Winnifrith
   Will the online harm bill do anything to protect journalists facing constant online harassment including a celebration of violence against them? I doubt it. I bring you Tuesday's TW troller of the day.
   
   
4. BlueBird Merchant Ventures – from the horses mouth
   I am as frustrated as the rest of you by the failure of the share price of Bluebird Merchant Ventures (BMV) 1.725p, a £10.7 million market cap, is far too low if, I repeat, IF, it delivers what it has promised in South Korea and the Philippines. But this is a mining junior and IF is the operative word. IF it delivers I see these shares heading to 4p+ so I asked the company what was not happening.
   
   
5. Centamin – Court Win Secures Mine Concession Agreement: BUY
   Fully-listed Egyptian Gold miner Centamin (CEY) this morning announced that the Constitutional Court in Egypt had ruled that under Law 32, third parties cannot challenge contractual agreements between the Egyptian Government and investors such as Centamin. This may seem somewhat highbrow, but an individual had been challenging Centamin’s right to exploit the Sukari concession, seeking the nullification of the concession agreement between the company and the government.
   
   
6. BREAKING: Good news for Julie “Lingerie on Expenses” Meyer, the FCA fails us all again
   A source close to the enquiry confirms that the FCA criminal investigation into Julie “Lingerie on Expenses” Meyer has been ended. She is a free woman. Well apart from that outstanding High Court arrest warrant and unpaid tax bills in the UK, Malta and America and an unsatisfied six figure personal guarantee to Barclays Bank.
   
   
7. Letter to FCA – Caracal Gold: surely public sanctions needed?
   Yesterday I started what is likely to become a series on why Caracal Gold (GCAT) is a zero with shocking revelations HERE. There is more to come. But already there is clear evidence that Caracal has breached market rules in a most serious way not once but twice. Sanction against Caracal, its CEO Robbie McCrae and possibly its advisor and the main promoter of its shares, VSA Capital, is now clearly merited. I have written to the FCA which is the regulator, no sniggering at the back, of the Standard List where Caracal is quoted and also of Andrew Monk’s VSA.
   
   
8. ICG-Longbow Senior & Cenkos start the week with a monster lie – you are LIARS
   On Friday on the ShareProphets website I published a devastating bear dossier on ICG-Longbow Senior (LBOW) and as always, I signed off in my name. I have nothing to hide. I have been a journalist for three decades, longer than Cenkos has been acting for shysters. That dossier detailed the very dodgy CV of a key player and explained why the NAV was a work of pure fiction. Today Longbow has responded with a “portfolio update” which shows that it and its advisor Cenkos (of Quindell infamy) are nothing more than low grade liars.
   
   
9. Red Rock Resources a ten bagger? LMFAO Mr broker
   I write as a shareholder in Red Rock Resources (RRR). But the broker note below, today being trumpeted on twitter today by boss Andrew Bell is complete and utter bollocks. The idea that Red Rock shares could go from 0.26p to 2.60p is just fantasy. There is more chance of me getting lucky with you know who by the weekend than of this work of fiction proving any where near accurate.
   
   
10. The Serica acquisition of Tailwind looks like terrible value for existing shareholders if it goes through
    I’ve always been a big supporter of Serica Energy (SQZ) since first covering it on this site as a buy at around 5p some years back, and since then it has done rather well, but I’m really struggling to get behind the acquisition deal that it recently announced whilst I was off on my travels.

The most-listened to Bearcasts this week were:

1. Tom Winnifrith Bearcast: Boohoo is it a buy or a short or just one to watch from the sidelines with beer and popcorn? I start with walking to school with Joshua in the snow then cover being an insider (Kefi and Skinbiotherapeutics) and what it actually means. Then Mode Global (MODE), ouzo on my cornflakes again, folks were warned, Red Rock Resources (RRR) and its comical broker note, and finally today's trading statement from Boohoo.com (BOO)
   
   
2. Tom Winnifrith Bearcast: Cellular Goods races towards zero, tough luck David Beckham ( statement on RTO & fund raise needed) I start with a few words on the weather here in North Wales which brings much joy to my kids and then on Warwick School historic abuse matters. Then it is on to caracal Gold (GCAT), Corero (CNS), Cellular Goods (CBX), Dev Clever (DEV), Skinbiotherapeutics (SBTX) and THG (THG). 
   
   
3. Tom Winnifrith Bearcast: Amigo really should be friendless I start with the FTSE 100. Should we celebrate it "soaring" to the level it was at the time of the war criminal Blair? Then onto Caracal Gold (GCAT) and more bad news on the way, to ITM Power (ITM), Inland (INL), Amigo (AMGO), IGC-Longbow Senior (LBOW) which lies about my anonymity and Tower Resources (TRP) and its desperate attempt to hide a death spiral with a verbose release.
   
   
4. Tom Winnifrith Bearcast: But the Welsh Girlies are shite and nobody wants to watch them! I start with the news that the Welsh women and men's soccer teams will now get equal pay. Does nobody understand economics any more? Then it is onto bitcoin and also Argo Blockchain (ARB). Them Advanced Oncotherapy (AVO) which sounds madder by the day. It certainly does not understand economics. Then nanosynth (NNN) and finally Omega Diagnostics (ODX). I wonder how this Saltire flying Scottish dickhead is doing these days? 
   
   
5. Tom Winnifrith Bearcast: Malcolm Stacey failing as a bear and why the Caracal scandal is so huge and matters `I refer at the end to a podcast on the Northern Ireland census I recorded today. Honestly it is more interesting than it sounds and is HERE. I start with Malcolm's failed career as a bear and where blue chips and small caps go from here. Then onto our bombshell on Caracal today HERE and all the other red flags and why it matters that the FCA acts on this one.
   
   
6. Tom Winnifrith Bearcast: Zamaz shares collapse, the FCA disgraces itself againIn today's Bearcast I look at Zamaz (ZAMZ), Love Hemp (LIFE), Mirriad (MIRI) and in depth at Versarien (VRS) as its shares slide again ahead of what will be appalling results and an auditors warning within 10 days. Neill Ricketts...it could not happen to a nicer bloke.
   
   
7. Tom Winnifrith Bearcast: Kefi and its shareholders again: aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaghIn today's podcast I look at the critical difference between the Standard List & Aquis and the AIM sewer and why advisers like Andrew Monk are thus anti AIM. I am not so sure. Then I look at Kefi (KEFI) some of whose shareholders who just do not understand insider dealing laws are doing my head in.