Notes from Underground – Most read articles for the week ending 24 February

Here are the most read articles and the most listened-to Bearcasts over the past seven days. The most read non-Quiz, non-Tom article last week is Steve Moore with Feedback – interims and argues pilot agreement importance “cannot be understated”. What about cash burn importance? at No 10 or No17 including Bearcasts. 

The most-read ShareProphets articles this week were:

1. EXPOSE: Wildcat is taking the piss yet again - tell us more about the Waterford Group
   If Wildcat Petroleum (WCAT) was on the AIM sewer a Nomad would need to approve its RNS releases and even London’s Worst Nomad, Roland “Fatty” Cornish, who is celebrating lent by having only 11 courses rather than 12 at luncheon, would not sign off on the crap the company pumps out. But it is on the Sub Standard list so it can make statements that appear just not to be true or are, at best inaccurate and questionable and the regulators at the FCA will jerk off on ESG porn and do nothing about it at all. Today is a scorcher.
   
   
2. Ben’s Creek new CEO you could not make this up? Oh…it did!
   Given that it is drowning in debt and unpaid bills, hemorrhaging cash and sitting on an asset which has sent all previous owners bust, Ben’s Creek (BEN) is not in a good place and I had pondered who would commit career hara-kiri by taking over from Adam Wilson of Daniel Stewart infamy as CEO. The answer… you could not make it up.
   
   
3. Why the house price bubble is going to burst but it is not as dramatic as it sounds
   One day the Daily Mail, which is obsessed with house prices, tells us that house prices are soaring, the next day we are told that they are slumping. The reality is that neither is true or will be true. Instead what will happen, as the now roadsweeping Chris Bailey always flagged up, is that prices will increase only marginally in actual terms but in real terms will shrink for the rest of this decade. But that has profound implications.
   
   
4. Some bears are on the pitch, they think it’s all over…Horizonte Minerals after hours ‘fess up – TIMBER
   Issuing yesterday’s car crash release after hours was a bit sneaky but you can expect Horizonte Minerals (HZM) shares to collapse today and if you can sell for more than 0p, the now inevitable end game, you should do so. Sorry Gary Newman, BB savant PL et al, we bears, myself, Evil Banksta and Lucian have been vindicated and it is ouzo’s all round for us. The news is devastating.
   
   
5. Those who threaten legal action hoist a red flag: Andrew Bell & Red Rock
   Reading through my articles from three months ago, to weed out typos, I was struck by THIS ONE about Red Rock Resources (RRR) when the shares were 0.1425p. The shares are now just 0.0825p despite the appointment of Mr. David Lenigas as a special consultant tasked with ramping the share price on twitter and telegram, oops I meant “tasked with creating sustainable shareholder value.
   
   
6. Avacta: what price the fund raise which is coming as sure as eggs are eggs?
   I am NOT saying that Avacta (AVCT) or its agents are sounding out about a fund raise just yet although they may be and the recent share price action suggests that something is afoot. But, as I warned most recently HERE, Avacta will have to raise this year and if it is smart it will not leave it to the wire. Events at Faron Pharma (FARN) in recent days suggest that investor appetite for stocks in this sector is not quite what it once was …
   
   
7. The ShareProphets Sunday Pub Quiz #228
   It's time for the ShareProphets Sunday Pub Quiz.. There are no prizes! And remember, no Googling!
   
   
8. Private Eye may be illiterate but it recognizes an “influential investment website” when it sees one
   Thanks to kind reader A, I bring you a page from this week’s Private Eye where it appears to recognize the good work done by this website even if it cannot actually spell our name. Poor Uncle Chris, who co-founded the Eye, will yet again spin in his grave. The article concerns the woes of struck off dentist Ajan Rejinald which we have exposed on this website and which the Eye is now regurgitating. As is always the case, but especially with the Novacyt (NCYT) trial looming, anyone owning shares in Rejinald’s Roquefort (ROQ) needs their head examining.
   
   
9. Feedback – interims and argues pilot agreement importance “cannot be understated”. What about cash burn importance?…
   Medical device company Feedback plc (FDBK) has announced results for its half-year ended 30th November 2023 with CEO Dr Tom Oakley “delighted with the increased traction for our core products” and considering that the “outlook is promising”. So why currently a slightly lower to 61p share price, just above £8 million market capitalisation, and with the shares down from above 100p just last summer?
   
   
10. A tips of the year update – including one mea culpa?
    Following tips of the year success last year, I repeated the selection strategy this year. Does that though look set to work again following a trading update announcement today from one of this year’s tips?

The most-listened to Bearcasts this week were:

1. Tom Winnifrith Bonus Bearcast: Optibiotix and Skinbiotherapeutics and the nature of forecasts
   The sole subject is what is in the title: Optibiotix (OPTI), SkinBiotherapeutics (SBTX), the nature of forecasts and how both will play out.
   
   
2. Tom Winnifrith Bearcast: I just hate being lied to
   Yes i did have a long chat with Harry Adams of Kefi Gold & Copper (KEFI) yesterday but I was not lied to and, put it this way, I am not going to sell my shares. I also ad a long chat with someone close to BlueBird Merchant Ventures (BMV) and am not selling there either. It is all go. I start with the lying and it was blatant lying by the BBC on Ukraine. Then it is onto how morally indefensible it is for loss making companies to spaff cash on vanity, ref John Lewis and what was Wandisco (WAND). Finally with reference to those high yielding FTSE 100 stocks, I am in no doubt that Labour will bollocks it all up even more than the useless Tories but think that risk is also discounted.
   
   
3. Tom Winnifrith Bearcast: ouzos all round but let's start with vindication as La Willingham and Nightcap 'fess up to everything I stated
   In today’s Bearcast I discuss my latest ailment which will joy to many as it hits my ability to write. Then it is Nightcap (NGHT),Ben's Creek (BEN), Horizonte Minerals (HZM) and Predator Oil & Gas (PRD).
   
   
4. Tom Winnifrith Bearcast: a red face at the school gate this morning
   I start with a bit of a schoolboy error from myself causing red faces all round at the Winnifrith family then it is onto Cavendish Financial (CAV), Technology Minerals (TM1), Faron Pharma.(FARN), Wildcat Petroleum (WCAT), Powerhouse Energy (PHE), Versarien (VRS) and problems and another scandal for auditors BDO, another Dominic White disaster Max Ret Ventures (MAX) the White/Zamboni empire is collapsing.  
   
   
5. Tom Winnifrith Bearcast: Why is James Cherry from lawyers Simmons & Simmons running scared of me?
   I start with the chicken lawyer, JP Jenkins not explaining a share suspension and Tintra (TNT), the AIM Company of the year 2022, which might have been wound up this morning. Then it is Ariana Resources (AAU), Amaroq (AMRQ) my biggest gold holding which will be 100p+ well before Christmas, Faron Pharmaceutics (FARN), Bytes Technology (BYIT) and its very naughty now ex CEO Neil Murphy and today's ouzo moment from Shield Therapeutics (STX). I still await apologies from the trolls of 2022 as I drink gallons of vindication. 
   
   
6. Tom Winnifrith Bearcast: Would you like a trip to Wolverhampton said the nice man?
   I explain the terror of my last visit to Wolverhampton but the offer from Technology Minerals (TM1) is a generous one anyway. I discuss why irresponsible PR men attacking journalists has consequences with reference to Canadian Overseas (COPL) which is a zero, something effectively confirmed today. I look at Truspine (TSP), Ironveld (IRON), Chill Brands (CHLL), Powerhouse Energy (PHE). And now it is off to see the Shipmans again.
   
   
7. Tom Winnifrith Bearcast: a huge relief and all clear from the Shipmans
   I start with a meeting with the Shipmans in Chester and an all clear, a mighty relief. Then Avacta (AVCT), Verditek (VDTK), Eurasia (EUA), Ironveld (IRON) and Saietta (SED) - ouzos for Steve Moore tonight. I also mention Sharestock on September 7, feel free to book early HERE .