Notes from Underground – Most read articles for the week ending Oct 12

The most read non-Tom article last week is Corero Network Security – emphasises “Continued Q3 2024 New Customer Momentum”, but how significant? by Steve Moore at number 1 or number 7 including Bearcasts. 

The most-read ShareProphets articles this week were:

1. Corero Network Security – emphasises “Continued Q3 2024 New Customer Momentum”, but how significant?
   Corero Network Security (CNS) has issued a “Continued Q3 2024 New Customer Momentum”-titled announcement and what of the shares currently 7.5% higher at 20.7p in response?
   
   
2. Character Group – full-year trading recovery “in line with current market expectations”, Buy
   Designer, developer and international distributor of toys, games and giftware Character Group (CCT) has issued a trading update including that it “expects its adjusted profit before tax for the financial year ended 31 August 2024 to be in line with current market expectations” and that “initial sales of products for the Christmas '24 season are showing encouraging signs”. So, how encouraging are those from a 280p share price?
   
   
3. Gfinity – CEO shares subscription, but still how’s that balance sheet?
   There’s an announcement from Gfinity (GFIN) detailing a 200 million shares subscription by Chief Executive David Halley and what of the shares currently soaring more than 50% higher?
   
   
4. The View From The Montana Log-Cabin As Gold Holds Steady - $3,000 Still Beckons
   Gold closed the week at $2,653 – hardly changed on last week’s $2,658 although Gold stocks dropped more, as can be seen on the chart below of Gold vs the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers).
   
   
5. SRT Marine Systems – “US$213 million new MDA system contract award”… which is not currently a finalised contract award!
   SRT Marine Systems (SRT) has issued a “US$213 million new MDA system contract award”-titled announcement and, with a most recent closing market cap of just over £80 million at a 36p share price, what of a current 25% higher share price response?
   
   
6. Hellenic Dynamics fesses that the 1 million Euro has still not arrived but today's RNS begs massive new questions
   Why do advisers Cairn and Peterhouse put up with this shit and put their names to such utter nonsense? I realise that we all have bills to pay and the price of young Ladies from Ukraine charging City boys by the hour is only going one way, but surely both firms could live without this wretched little Main Market account. Moreover, I bet you the cost of half an hour with a young lady from Ukraine that Hellenic Dynamics (HELD) is actually paying its adviser bills.
   
   
7. First Derivatives by FD technologies disposal: more ouzo for the sheriff with complete vindication
   Back in June 2018, I opened my account on First Derivatives (FDP) urging you to short the shares at £46, a £1.2 billion market cap. The red flags were everywhere but natch everybody said I had got it wrong about a company which had picked up gongs at the AIM awards three times! Today that core business has been sold for an EV of just £230 million although the cash receipts are just £205 million. Complete vindication!
   
   
8. The fraud Supply@ME Capital Auditor Resignation letter – sadly no cigar for me
   Companies House has processed the letter from Crowe UK. There is a minor new speeding ticket for Supply@ME Capital (SYME) but sadly no cigar for me.`
   
   
9. Eurocell – a buy for trading recovery?...
   UK manufacturer, recycler and distributor of PVC window, door and roofline products Eurocell plc (ECEL) last month noted “ongoing macroeconomic uncertainty impacting our key markets, exacerbated by wet weather and the General Election. Customers remain cautious, resulting in lower investment in home improvements and subdued activity levels in the residential construction market”. However, the accompanying results suggest likely further strong eventual recovery upside from a 177p offer price.
   
   
10. Pod Point – having been “really excited to be joining the team and building on the fantastic progress”, CFO ‘steps down’ after less than 2 years!
    A “Directorate Change” announcement from Pod Point Group (PODP) includes “delighted” to welcome Mike Killick to the CFO role as “with strong experience in strategic financial planning, Mike will provide support to the board and CEO as the group continues with the execution of its Powering Up strategy”. What about the strategy currently seeing shares in the group, describing itself as “one of the UK's market leading providers of Electric Vehicle charging solutions”, at 16p – including down from approaching 25p earlier this year?

The most listened-to Bearcasts this week were:

1. Tom Winnifrith Bearcast: It's cost me cash but I make no apologies for remembering October and standing 100% with Israel
   I start on my visit to the private Shipmans later today reflect on how the State fails my family. Then remembering October 7. Saying I stand with Israel has cost me money as folks cancel their subscriptions but I do and will not be silenced. Then I look at Probiotix (PBX), Blue Star Capital (BLU) and the wider Bixby/Edwards stable, World Chess (CHSS) why its shares are collapsing, why they will be a zero from today's £30 million and the 2 big lessons from this farce, and also at Vast Resources (VAST)
   
   
2. Tom Winnifrith Bearcast: 2 US election bets and Gabriel Grego vindicated as THG needs a bail out
   I start with 2 US election bets to consider as all the signs are that The Donald is now going to win. Then Skinbiotherapeutics (SBTX) and the issue of time and CGT tax changes. Finally THG (THG) and total vindication for my pal Gabriel Grego.
   
   
3. Tom Winnifrith Bonus Bearcast: Time for Optibiotix to row back, a blinding statement from Probiotix
   I would not appoint Steen Anderson as CEO of Probiotix (PBX) given recent sins but we are where we are. Today's statement from Probiotix was incredibly good. In a way it flags up Steen's historic blunders. But it also makes me think Optibiotix (OPTI) should row back on firing him as he will deliver a multi bag from here. 
   
   
4. Tom Winnifrith bonus bearcast: The bearded Geordie poltroon buys again at Skinbiotherapeutics
   Skinbiotherapeutics (SBTX) has made a second acquisition. I discuss that and what holds me back from sayin that the shares could be very cheap indeed so are a buy.
   
   
5. Tom Winnifrith Bonus Bearcast: Just not good enough from Optibiotix
   I think that shares in Optibiotix (OPTI) are, on a risk reward basis, very cheap. but today's RNS is shockingly cack handed
   
   
6. Tom Winnifrith Bonus Bearcast: The 'fess up RNS Optibiotix should be issuing NOW
   I may get into trouble on this but there are 3 matters that Optibiotix (OPTI) needs to address in an RNS now including the health status of its CEO 
   
   
7. Tom Winnifrith Bearcast: Has Andrew Monk finally done the decent thing and how much should I charge Opti for doing its PR today properly?
   In today's podcast I comment on Optibiotix (OPTI), VSA Capital (VSA) and Caracal Gold (GCAT), Woodbois (WBI) which stinks and Rosslyn Data *RDT( where I'm very tempted to go long after years as a bear.
   
   
8. Tom Winnifrith bearcast: not getting to the bottom of it yet with the Shipmans yesterday
   I start with a report back on my first encounter with the private Shipmans. I suppose there has been some progress of sorts but next up is an MRI scan which will set me back c£900. So if nine of you who loved Sharestock 2024 want to buy a ticket for September 6 2025 to crowdfund this I'd be very grateful. I shall have more speaker news this week, and you can buy HERE, PLEASE DO SO. In the rest of the podcast I look at Green X Metals (GRX) and the read across for ECO Buildings (ECOB), at Georgina Exploration (GEX) and at the Clem Chambers/ accountants Johnson scandal exposed HERE and what it all means.
   
   
9. Tom Winnifrith bearcast: that US jobs data was bogus and actually makes the case for gold
   I start with a day of tidying here in Wales and a hyper inflation lesson for Joshua, end on the sick AIM CEO and in the middle discuss that US jobs data and why it was bogus and what that means. 
   
   
10. Tom Winnifrith Bearcast: from A to Z, Artemis and Avacta to Zephyr
    I start with the cost of MRI scans and I am booked in a week today so that will be an abridged day. I end with my anger at Warwick School which flares up again as it responds to this article. In between it is Artemis (ARV), Zephyr (ZPHR), Avacta (AVCT) and Global Petroleum (GBP)
    
    
11. Tom Winnifrith Bearcast: I disagree with Steve Moore
    The matter we disagree about is Imperial Brands (IMB). Steve urges folks to take profits. I will not be doing so.