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

The most read, non-Tom, article last week was The View From The Montana Log-Cabin As Gold Gains Dazzling Attractiveness In UK by Nigel Somerville at number 21 or number 29 including Bearcasts.

Most Read

  1. BREAKING: Stifel begs investors to vote for shocking corporate governance at Kefi

    Recently appointed as joint broker and advisor to a main market listing by Kefi Gold & Copper (KEFI), Stifel Europe has sent an email to investors begging them to vote for shockingly bad corporate governance. Luckily that email has fallen into the hands of Winnileaks and I publish it below.

  2. If Kefi was a normal share what does the data say it should gain by mid 2028?

    There is actually some hard data out there so I am not completely guessing. Kefi Gold and Copper (KEFI) shares are today 1.08p. My pal Lobo Tiggre analysed the performance of 124 gold miners going back to the 1980s and looked at their share prices from start of construction to first gold.

  3. Letter to Zeus Capital, AIM Regulation, the FCA and Nomad SP Angel: David Bramhill of Union Jack has acted ultra vires

    As I noted earlier, David Bramhill of Union Jack Oil (UJO) knew that he and fellow directors would be ousted at the AGM today and thus acted to adjourn it which for all sorts of reasons was disgraceful. In an accompanying RNS he says he was entitled to do so under Union Jack’s Mems & Arts but that was a lie. He acted ultra vires. I have written to advisors and regulators demanding urgent action against Bramhill.

  4. Skinbiotherapeutics: GOTCHA! Incompetent FD Emily Bertram resigns with almost immediate effect

    First it was the prolific liar and fraudster Stuart Ashman, then the incompetent chairman Martin Hunt and now I have a third scalp: Emily Bertram who was appointed as CFO  in April 2025 and joined the board in January 2026 has resigned from Skinbiotherapeutics (SBTX) and will leave the company next Tuesday. Another head I demanded has rolled.

  5. A Cloudtag shareholder writes about the £44 million AIM FRAUD and my 249 exposes!

    Back in the years 2015-17 Cloudtag (CTAG) investors used to say I was short, de-ramping, being paid by the Mossad to destroy a Great British company (they really did say that) and that I should stick to cooking pizza and was an all round useless prick.  These days, as memories of a peak £44 million market cap in December 2016 fade,  those who ignored my advice to sell shares in the one time darling of the AIM casino say much nicer things. The lead claimant in a class action underway against Cloudtag but also, possibly others including Nomad Cairn has dropped me a note. He correctly identifies the much larger story than just another AIM fraud.

  6. Kefi – I have voted

    I flagged up earlier today that Stifel is begging folks to vote for bad corporate governance at Kefi Gold & Copper (KEFI) where I am, of course, a loyal shareholder. It has prompted me to contact my broker, the dinosaur, and to vote myself.

  7. BREAKING Blast from the past: shareholders taking class action against Cloudtag,the FCA, AIM Regulation & Nomad Cairn over NEW post AIM $234m fraud!

    You may remember how Cloudtag (CTAG) was once the AIM BBM fraud du jour. For calling it out while others, like the wretched Mir, sang its praises I was slammed as being part of a shorting conspiracy, seeking to buy shares on the cheap and, quite seriously, as being paid by the Israelis so the wicked Jews could get the tech on the cheap. In the end it delisted but raised fresh funds with new lies and a $234 million attempted fraud using the Johnson & Johnson name.

  8. Ahead of the Friday showdown in Bristol our 32 most gruesome exposes of Union Jack Oil and its disgraced board

    On Friday, shareholders in Union Jack Oil get to vote to sack the board at an AGM where both myself and Peter "fagash" Brailey will be attending. ShareProphets has been Union Jack Oil’s (UJO) case since 2019. Its shares have collapsed and its only response was to waste shareholders cash investigating myself, fagash and fagash's girlfriend, as the board enriched themselves. Here are the 32 most gruesome stories.

  9. Skinbiotherapeutics Investor Meet June 29 & my questions

    Quite rightly most questions submitted to the Investor Meet platform ahead of the rampfest will be about forward guidance: what is the cash position now at Skinbiotherapeutics (SBTX), what is the cash burn, what are revised FY 2026 and 2027 estimates etc. But as a non shareholder and a nerd I have different questions that I have now submitted with no expectation at all of them being answered. I have asked:

  10. Saints Preserve me: I almost agree with disgraced fund manager and shamed share blogger Neil Woodford

    Perhaps it is because the FCA is trying to stop Neil Woodford from giving investment advice that the old rogue is now opining on other matters. And Hell’s Teeth I almost agree with him.


The most-listened-to Bearcasts this week were:

  1. Tom Winnifrith Bearcast: the fraudster's kids get in touch and was gold just a bubble?

    I am working on a big story. I hope to run it next week. Its AIM, a Nomad, a board that should be deep merde and a convicted fraudster. Then I discuss today's RNS from Eco Buildings (ECOB) - seriously it should pay me to consult on IR. Then gold, gold stocks and Kenmare Resources (KMR). Was gold just a bubble like bitcoin in treasury a reader asks

  2. Tom Winnifrith Bearcast: hard facts and guesswork

    I start at a weather station by a river in June 1976 and at another one by a runway in 2026. Then it is Defence Holdings (ALRT) and Eco Buildings (ECOB).

  3. Tom Winnifrith Bearcast: less than 2 year Kier

    IT nightmares make this later and briefer than otherwise. I discuss that, a factoid from Lucian on US decline, Easyjet (EZJ) and the end of Keir Starmer, a rotten PM and NOT an honourable man. But worse is to follow.

  4. Tom Winnifrith Bearcast: one for Catriona and Matthew's Dog - I am so angry

    Angry with various folks but especially myself for being so foolish. I discuss Satsuma (SATS)

  5. Tom Winnifrith's Bearcast No 2: For Matthew's Dog & Catriona, angry and stranded in Walsall and the disgraceful adjournment of the Union Jack AGM

    I did not make it to Bristol as my car broke down on the M6. I have only just now got back from a happy time in Walsall or was it Wednesbury?. If you are thinking of a romantic weekend get away I would recommend you don't choose Walsall or Wednesbury. As it happens the A grade shit David Bramhill waited until 11 AM to adjourn the Union Jack Oil (UJO) AGM in Bristol in order to cling onto his job and expense account for a few weeks more. At every level what Bramhill has done is a disgrace and he should be cold shouldered and pilloried by all concerned as should his democracy denying sidekicks Zac Philips and Joe O'Farrell, lawyers Keystone, Nomad SP Angel and brokers Zeus. All should hang their heads in shame.

  6. Tom Winnifrith Bearcast: Father's Day, Julie Meyer and the Guardian and Cloudtag

    I muse on Father's Day and why some folks must be hurting today, on the Guardian's investigation into Julie " sex toy and lingerie on expenses" Meyer and Cloudtag (CTAG), a fraud from days gone by I also exposed. 

  7. Tom Winnifrith Bearcast No 1: a reader says I must be psychic, I knew someone would say that!

    I discuss the after hours heavily discounted and dilutive placings from Defence Holdings (ALRT) and Cirata (CRTA). Readers cannot say that they were not warned. The RNS's are almost word for word what was predicted by old TW.

  8. Tom Winnifrith Bearcast: Americanos fired, shareholders in Union Jack should prepare to sue David Bramhill for every penny he has

    Now the only director shareholders in Union Jack (UJO) voted to keep has been fired by the three they wanted to vote out. I discuss AIM's worst run company, how it might end and how shareholders should, if Union goes bust, sue David Bramhill for every penny he has. 

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Complete Coverage

That Was the Week that Was 7 Days of ShareProphets

Friday »

PR1
Pri0rity Intelligence – this statement cannot be true, is the FCA talking about you?
  • By Tom Winnifrith
  • 16 October 2026, 15:49
Roulette
Pathos Communications – shares ‘only’ just over 23% down since December 2025 listing… so “Best Newcomer at the AIM Awards” (natch!)…
  • By Steve Moore
  • 16 October 2026, 15:30
Bearcast
Tom Winnifrith Bearcast: Why Amaroq will tell me to Foxtrot Oscar
  • By Tom Winnifrith
  • 16 October 2026, 15:22
Clown_Funeral
The FCA admits that it is utterly useless: Evil Banksta is left almost speechless as am I
  • By Tom Winnifrith
  • 16 October 2026, 13:59
Bear
Video: Fuel Rationing, ‘Hard To Go Wrong’ With Gold Miners & Platinum To Outperform
  • By Tom Winnifrith
  • 16 October 2026, 12:24
BMV
Bluebird Mining: Disgraced CEO Sath’s Skylake vehicle dumping shares what can it mean?
  • By Tom Winnifrith
  • 16 October 2026, 11:46
Confetti
Nuburu finally buys Tekne but reveals more massive dilution of its shareholders ( quelle surprise!)
  • By Tom Winnifrith
  • 16 October 2026, 11:06
AMRQ
Letter to Eldur Olaffson – time to sack Charles Archer and cleanse the Amaroq stable
  • By Tom Winnifrith
  • 16 October 2026, 10:54
THX
Thor Explorations – “Q3 2026 Operating Update”, a further cashed-up Buy
  • By HotStockRockets
  • 16 October 2026, 09:02
Collapsing-Reactor
The Morning after the AIM awards dinner – more bad data from the Casino emerges
  • By Tom Winnifrith
  • 16 October 2026, 08:58

Thursday »

THG
THG – emphasises expectations “upgrade”, but how’s underlying trading?...
  • By Steve Moore
  • 15 October 2026, 16:28
Bearcast
Tom Winnifrith Bearcast: This makes no sense to me at all
  • By Tom Winnifrith
  • 15 October 2026, 15:04
Boom
BREAKING: Companies House passes Amazing AI bogus filings to Enforcement Team
  • By Tom Winnifrith
  • 15 October 2026, 14:03
THRU
Thruvision – emphasises “Multiple orders received”… but how material are they?
  • By Steve Moore
  • 15 October 2026, 13:47
Gold
Video: ‘Especially Now’ Huge Opportunity in Junior Miners - Finding 10-Baggers
  • By Tom Winnifrith
  • 15 October 2026, 13:42
PRD
Letter to the FCA: Insider Dealing at Predator Oil & Gas
  • By Tom Winnifrith
  • 15 October 2026, 12:44
PXEN
Prospex Energy: Charles Archer ramps but I reckon it has run out of money: Bailout Discounted Monkey Placing ahoy!
  • By Tom Winnifrith
  • 15 October 2026, 11:27
FAB
Fusion Antibodies – argues “encouraging scientific and technological progress”, but there’s not financial progress. Hopefully my warning was heeded…
  • By Steve Moore
  • 15 October 2026, 10:48
EPP
Letter to the FCA: Insider Dealing at Energy Pathways
  • By Tom Winnifrith
  • 15 October 2026, 09:33
PRD
BREAKING: Predator placing; knock me down with a feather, the FCA must be all over this like a rash
  • By Tom Winnifrith
  • 15 October 2026, 08:23

Wednesday »

DPP
DP Poland – Q3 trading update, how “well positioned” really to create durable value for shareholders?
  • By Steve Moore
  • 14 October 2026, 16:10
Bearcast
Tom Winnifrith bearcast: deconstructing the Audioboom Q3s
  • By Tom Winnifrith
  • 14 October 2026, 15:49
CNS
Corero Network Security – “Q3 2026 Commercial Update”, more ramptastic?
  • By Steve Moore
  • 14 October 2026, 14:20
Bully
Paul Mathieson – is this a new low?
  • By Tom Winnifrith
  • 14 October 2026, 14:13
Collapsing-Reactor
Free car from the taxpayer because you have acne? £700m to save 1 salmon every 12 years - where your taxes go
  • By Tom Winnifrith
  • 14 October 2026, 13:33
CRTA
Cirata dismal trading update: surely £430,000 a year CEO Stephen Kelly must be fired
  • By Tom Winnifrith
  • 14 October 2026, 12:06
RWA
Robert Walters plc – expects full-year “at least in line with current market expectations”, but how creditable is that?…
  • By Steve Moore
  • 14 October 2026, 11:57
EPP
Energy Pathways: Swanny makes extraordinary claim about insider dealing, I’m contacting the FCA
  • By Tom Winnifrith
  • 14 October 2026, 11:03
KEFI
Kefi Gold & Copper – a told y’all “Recommencement of Development at Tulu Kapi Project” Buy
  • By HotStockRockets
  • 14 October 2026, 09:37
Boom
Letter to Michael Bloomberg: does he condone anti semitism and attacks on my Indian heritage wife?
  • By Tom Winnifrith
  • 14 October 2026, 08:33
OXIG
Oxford Instruments – “Interim Trading Update… confidence in full-year expectations”, but is that sufficient for the valuation?
  • By Steve Moore
  • 14 October 2026, 08:02

Tuesday »

Bearcast
Tom Winnifrith Bearcast: Valereum is about to explode, it's almost game over
  • By Tom Winnifrith
  • 13 October 2026, 15:19
PAGE
Michael Page plc – “Return to growth, full year expectations maintained”… share price fall?…
  • By Steve Moore
  • 13 October 2026, 15:10
Beggar
4 charts showing how you are being lied to about your impoverishment since 1900 and since 1975
  • By Tom Winnifrith
  • 13 October 2026, 13:57
BP
BP shows the £6 billion folly of green energy GroupThink
  • By Tom Winnifrith
  • 13 October 2026, 12:13
EMAN
Everyman Media – “Proposed cancellation and Notice of GM”. Quelle surprise!…
  • By Steve Moore
  • 13 October 2026, 11:40
ELEG
Electric Guitar is still hitting bum notes
  • By Tom Winnifrith
  • 13 October 2026, 10:49
Madness
If you are anywhere close to 67 why you should stop work now & go on welfare to be better off
  • By Tom Winnifrith
  • 13 October 2026, 10:18
EPP
I call out Energy Pathways placing announcement as horse
  • By Tom Winnifrith
  • 13 October 2026, 10:08
CAV
Cavendish: Smug Sam Smith’s proudest achievement warns yet again but what is it NOT saying?
  • By Tom Winnifrith
  • 13 October 2026, 09:19
Greek Tear
Photo to Treasure: An early Christmas present from reader A who won a week at the Greek Hovel
  • By Tom Winnifrith
  • 13 October 2026, 08:15

Monday »

Boom
Sharestock 2027: early bird priced tickets on sale
  • By Tom Winnifrith
  • 12 October 2026, 16:05
THRU
Thruvision – “H1 Trading Update”, how ‘encouragingly’ do full-year “expectations remain unchanged”?
  • By Steve Moore
  • 12 October 2026, 16:05
Bearcast
Tom Winnifrith Bearcast: 3 new share trades, Lucian is Cassandra and 2 things I expect
  • By Tom Winnifrith
  • 12 October 2026, 14:14
HAS
Hays plc – Q1 update emphasising “Strong progress executing our Momentum strategy at pace”, but how’s the financial progress?
  • By Steve Moore
  • 12 October 2026, 14:14
VLRM
Valereum ‘fesses to lying AGAIN – how long can this madness be tolerated?
  • By Tom Winnifrith
  • 12 October 2026, 12:40
AOM
ActiveOps – ‘change to outlook’. You were warned on this…
  • By Steve Moore
  • 12 October 2026, 11:30
BRES
Blencowe Resources: to lose one director with immediate effect is understandable, two looks like carelessness (or worse)
  • By Tom Winnifrith
  • 12 October 2026, 11:26
KEFI
Kefi: Rejoice, rejoice
  • By Tom Winnifrith
  • 12 October 2026, 10:21
TERN
Tern settles with SVV, I predict yet another rescue placing before Christmas
  • By Tom Winnifrith
  • 12 October 2026, 09:53
Boom
Paul Mathieson with another vile rant- does Bloomberg ethics director Laura Zelenko stand by its source?
  • By Tom Winnifrith
  • 12 October 2026, 09:05

Sunday »

OMG
Oxford Metrics – some projects delays but also outlook positives
  • By Tom Winnifrith & Steve Moore
  • 11 October 2026, 18:25
Bearcast
Tom Winnifrith Bearcast: selling Kefi to go all in on Amaroq would be a mistake
  • By Tom Winnifrith
  • 11 October 2026, 15:43
Gold
The View From The Montana Log-Cabin As Gold Rebounds: Will It Last?
  • By Nigel Somerville
  • 11 October 2026, 14:16
AMRQ
Amaroq – Eldur Olaffson interview; truly mind blowing numbers, I will be buying even more shares
  • By Tom Winnifrith
  • 11 October 2026, 13:41
Quiz
The ShareProphets Sunday Pub Quiz #367
  • By Darren Atwater
  • 11 October 2026, 12:34
Blackboard
Visual Aid: The World’s Most Innovative Countries in 2026
  • By Darren Atwater
  • 11 October 2026, 12:33
Reading
Sunday Long Reads: Be a Victorian, Bad Vancouver, Plymouth Bomb, Why Britain Doesn’t Build, Anne Carson
  • By Darren Atwater
  • 11 October 2026, 12:32
Top-10
Notes from Underground – Most read articles for the week ending October 10
  • By Darren Atwater
  • 11 October 2026, 12:31

Saturday »

Bearcast
Tom Winnifrith Bearcast: Kefi, Nigel Wray, Swanny & Delta
  • By Tom Winnifrith
  • 10 October 2026, 17:52
MCON
Mincon – trading “ahead of market expectations” from an already winning share tip
  • By HotStockRockets
  • 10 October 2026, 15:58
Gold
Video: gold to $15,000, France self immolating is the canary in the coalmine.
  • By Tom Winnifrith
  • 10 October 2026, 15:53
Collapsing-Reactor
Nuburu and two fascinating transactions
  • By Tom Winnifrith
  • 10 October 2026, 15:49