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Latest News

TUNG
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Tungsten: beer and popcorn time as GM requisition to boot out the board is received

Steve Moore commented HERE on press reports of potential boardroom strife at AIM-listed Tungsten (TUNG). It now looks as though the gloves are off, as last night at no-one-is watching o’clock (4.32pm) on a Friday evening the company announced it had received a General Meeting requisition with proposals to boot out the Chairman, CEO and two NEDs. I reckon we could be in for a treat on the entertainment front!

PURP

Table of shorted AIM shares - week to 29/06/2018

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

OPP
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Filthy forty Origo – reveals a true horror story. Ouzo? No thanks, I want the sick bucket

I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.

Bull

Why I Think Shares Will Stay Sunny As the Scorching Footsie Puts the Heat on.

Hello Share Flingers. Against the flow, and my learned friend David Scott, I think shares will continue to rise. I’ve recently said that we should always be prepared for a crash because common sense says there will be one eventually. But sense is rarer than budgie teeth in Shareland where one philosophy over-reaches all others.

Bearcast
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Tom Winnifrith Bearcast: happy birthday Olaf although I know you will not be listening

I start by wishing my daughter Olaf a happy 17th although she will not be listening and indeed wants me to retire so I stop embarrassing her by expressing my support for Trump, reservations about abortion or other crimes against the new world of 2018. It was Olaf's birth all those year ago at 1lb 4oz that got me involved with Woodlarks as I explain. This weekend my training walk will be 26 miles in this scorching heat. Think of me and if Olaf can spare a tenner so can you - donate HERE. In the podcast I explain why Julie Meyer must be stopped it is not just investors that need protecting. I cover FastJet (FJET), Action Hotels (ACHG), Akers Biosciences (AKR), Management Consulting (MMC), UK Oil & Gas (UKOG), Angus Energy (ANGS) and Amur Minerals (AMC).

MMC

Management Consulting Group – a proposed placing and open offer, but not ‘pleased to announce’

I’ve previously noted on Management Consulting Group (MMC) it an ‘operational improvement implementer’ which needs some of its own medicine! and most recently in November ‘below expectations’ trading warning less than 3 months after “well placed” interims. The latter saw the shares heading down towards 6p, though I concluded that 'it remains that I’d want much more than the likes of “positive progress” and level of proposals “has now started to improve” here to be convinced of a turnaround. Currently still a bargepole stock'. Now a Proposed Placing and Open Offer announcement…

UKOG
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David Lenigas ramps UK Oil & Gas shamelessly on twitter - the master pumper is back

You would have thought that after being caught ramping UK Oil & Gas (UKOG) where he is a paid consultant in the most shameless fashion and with statements he could not verify as a bailout placing got underway, as exposed here, Big Dave would STFU. But now...he has no shame and is tweeting like a dervish once again as you can see below. In the US this sort of behaviour by "consultants" would be dealt with very firmly indeed but this is the AIM Casino.

FRR
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Frontera gets out dismal results and an operational update that tells us nothing – Show Me The Money!

As I write, the whore blogger Malcolm “Fat Bastard” Graham Wood is taking dictation from his master Zaza as to why today’s results from Frontera Resources (FRR) point to a bright future. Yes Zaza, whatever you say sir, I shall write up my “Independent” commentary now. And sir, I notice that my invoices for February onwards have not been paid: perhaps you might put some brown envelopes in the post? Of course calendar 2017 numbers, snuck out on the last day possible, were shite.

AAU

Ariana Resources – Salinbas JORC exploration target potential - BUY

Ariana Resources (AAU) says that it “is pleased to announce a Joint Ore Reserves Committee Exploration Target for its Salinbas gold project… of up to 2.7Moz gold and 16.1Moz silver established in the Salinbas area, excluding current JORC Indicated and Inferred Resources of c.1Moz gold”. So what is such an ‘exploration target’ and what does it mean here?

Boom
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Oi Lyin’ fraudster Julie Meyer MBE cannot you find a single friend in London to be your partner at Viva Capital?

As you may remember the lyin’, tax evading fraudster Julie “lingerie on expenses” Meyer MBE, currently avoiding the Police in Malta where she faces criminal charges, has tried to rebrand by dropping references to Ariadne ( her main ponzi empire) and promoting the name of Viva Capital LLP.  Uh Oh – a new problemo has emerged. Oh dear Julie…it never rains…..

WG
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Still got Wood...Group

Time to catch up with a half year update from Wood Group (WG.). As regular readers will remember, it is one of my tips of the year and last time I reviewed the stock I concluded that 'John Wood shares will have a 7 in front of them by the end of the year. I remain a buyer'. In short, I retain this view after yesterday's update.

Boom
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BREAKING: Julie Meyer faces a whole new set of criminal charges in Malta: this time it is tax evasion. Oops.

Facing a raft of criminal charges for not paying her employees, Julie  “lingerie on expenses” Meyer  MBE has now refused to attend five court hearings and indeed has fled the island for good to avoid the Police who are now charged by the Courts with locating her. I can reveal that it is about to get a lot worse for Vince Cable’s favourite lying fraudster as new criminal charges are brought.

ITX
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Itaconix – Shares suspended as Neil Woodford’s week takes a turn for the worse

I suggested yesterday that things were looking up for Neil Woodford but we can all relax again as matters return to normal with disaster looming around every corner for the star fund manager as Itaconix (ITX) has suspended its shares this morning pending a potential fund raise.

DGE

Hello, Sunshine. How About a Cool Investment in a Firm which Could Drink Up some Hot Summer Profit?

Hello, Share Snatchers. Some folks have scoffed at me for opining that the weather affects the Footsie. But there’s a strong opinion among those that know that pop psychology plays a bigger part in how shares behave than economics or even common sense.

Bearcast
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Tom Winnifrith Bearcast - talking to one of the 3 X's for almost an hour

The 3Xs are the fraudbusters best friends. In this case it was one of Julie Meyer's 3Xs and a new source. we chatted for just under an hour. More to follow. Oh dear, poor Ms Lingerie on Expenses MBE. In the podcast I look at UK Oil & Gas (UKOG), Purplebricks (PURP), Frontera (FRR), FastJet (FJET), MySquar (MYSQ) - where I have again contacted John Meyer urging him to get off his fat arse - Andalas (ADL) and Magnolia Petroleum (MAGP). The good news is that sponsorship of the walk I'm doing with Brokerman Dan for Woodlarks is now, with gift aid, at almost £11,000. I explain here why this walk makes the difference between Woodlarks having to cut services or carry on, please do give a tenner today.  Think of my pain - not least in having to hear Dan talk total bollocks about Andalas for whole day - and COUGH UP HERE.

OPP

Filthy Forty Origo Partners: FY17 numbers due tomorrow, another investment disaster clocked up

On Tuesday 26 June, ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) fessed up that it had lost another boat-load of cash, this time on Kincorra Copper (TSX.V: KCC). Actually, it didn’t – we were simply told it had been sold for CAD 2 million (around US$ 1.5 million). It is not until you realise that the company had sunk US$ 8.5 million into Kincora that you see what a shambles that investment was.

IQE
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IQE and the £630m customer? Crackers valuation metrics - sheer insanity

Two years ago today, IQE (IQE) was trading at 17p per share, valuing the company at c. £120 million. Today the shares are nearly 6x higher at 100p per share, valuing the business at £750 million; an astonishing £630 million increase in value. And yet IQE’s most recent filing (year to 31 Dec 2017), reveals a company where, were it not for one new major customer, the remaining business would have demonstrated declining revenue and profit.

TND

Tandem Group – AGM Statement, there’s trading “more challenging” and then there’s…

Writing previously on sports, leisure and mobility equipment group Tandem (TND) in March, I noted I question whether it’s to be profit warning ahoy down the line and was thus cautious. Today an AGM update…

GNK
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Greene King - come on Ing-ger-land!

The numbers from Greene King (GNK) today are pint glass half empty or half full as per your inclination. The good news is that the attractive 5%+ dividend yield is held and covered by cashflow generation. Additionally those wonderful attributes for a pub group - sunny weather and a World Cup - have helped out. As the company notes itself: 'positive momentum has continued into the new financial year, aided by good weather and popular sporting events'.

WALG
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Updated: Filthy Forty Walcom Group warns it is in big trouble. Get out now!

This morning ShareProphets AIM-China Filthy Forty play Walcom Group (WALG) issued a trading statement. Given that its interims are due by tomorrow, that does not look good – indeed, I wonder if the numbers will not be forthcoming and a suspension will follow.

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AAU

Ariana – Surprise!

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