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MSG

Milestone Group – what’s in the Annual Report? Ah yes, the Auditor’s report!

I had a flick through the 2017 Annual Report released by AIM-listed Milestone Group (MSG) yesterday. Having noted the missing auditor’s statement in the results RNS, let’s see what it says.

ARIX

Arix Bioscience: Will the Chinese save Woodford’s bacon?

In my conclusion to The Big Short series on Woodford Patient Capital Trust (WPCT), I wondered where new pools of capital could come from to keep these biotech valuations afloat now that Woodford has run out of money and I considered capital from China as a potential life-saver. Two pieces of news this week make me consider this further, one in relation to another long-term short pick of mine in the biotech fund space, namely Arix Bioscience (ARIX).

TND

Tandem Group – shares up on 2017 “significantly ahead of the prior year”… but what about 2018?

Sports, leisure and mobility equipment group Tandem (TND) has updated on trading – and the shares are currently 18% higher to 115p in response. Should be good then…

VER
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Vernalis: Another Woodford horror-show – a classic example of what happens when the money runs out!

Vernalis (VER) raised the white flag in its RNS yesterday morning and it is no great surprise to see Woodford and Invesco dominating the shareholder base. I hate to think how much Neil Woodford has spent on this dog over the years, but I’m going to see if I can work it out.

PLA

Plastics Capital – as anticipated, second half weighting… but enough?

Shares in niche manufacturer of specialist plastic products, Plastics Capital (PLA) slipped from 126p towards 120p in December on the back of half-year results including “the board expects profits before taxation, to be marginally below consensus market expectations”, though “we anticipate a significant uplift in profitability during the second half of the financial year which should benefit from the seasonal demand upswing and new business coming on stream”. There’s now a trading update…

Bearcast
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Tom Winnifrith Bearcast: C'mon Lyin Steve 'fess up and make my day

In today's bearcast I look at three dogs: UK Oil & Gas (ominous silence), IDOX (crap balance sheet) and Carpetright, all sorts of woes. And what are the wider implications of this latest retail disaster hot on the heels of Maplin and Toys R Us.

GDP

Goldplat – interims, underlying profitability and outlook suggest strong upside

Goldplat (GDP) has announced results for its half year ended 31st December 2017 and emphasises “the outlook is positive”

MSG
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Milestone Group – Black Cactus watered down (or is it a graceful exit)?

Yesterday afternoon two RNSs came out from AIM-listed Milestone Group (MSG). At 4pm we were notified that the 2017 Annual Report had been published, as had the AGM Notice. But at 3.07pm a rather more interesting announcement was issued regarding Black Cactus. Yes folks, that’s the one we’ve been waiting (and waiting and waiting) for. You will no doubt remember that Black Cactus is the outfit of Larry (who has not got an Oxford Maths Degree) Cummins, and that Milestone had agreed a deal with it whereby it would get a few quid in commission and new shares worth 29.5% of the company. Now we are told:

PSL

Photonstar LED – “pleased to announce”… (as we warned) a massively discounted placing!

At the end of January I cautioned as Photonstar LED (PSL) argued “a further step towards… strategy of transforming the group into a software and services business, focused on lighting and building management as a service” and that “the unaudited net loss for the group has been reduced to approximately £0.9m, compared to a net loss of £1.46m in the previous year” - concluding it looked to remain cash crunch ahoy and thus, natch, the stance remained sell / bargepole. Now a 3:34pm “Conditional Placing of £430,000 & General Meeting” announcement…

ARS

This Far-Flung Copper Caper Could Bring in the Sheaves

Hello Share Scoopers. There's quite a bit of interest these days by we armchair tycoons in mining tiddlers. This is rather surprising, as many of us are still smarting from the beating this sector had over the last five years. Even gold has failed to become much more valuable, even at a time when the world economy has been - and still is - shaky.

Bearcast
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Tom Winnifrith Bearcast - A sexist joke from 1990 is it THAT Cathryn Riley who has joined the AA?

You could not tell jokes, like the one I relay, in the City any more otherwise you'd be up in front of HR at once. Luckily I am not in the City so here goes. I also comment on Defenx (DFX), Bacanora (BCN), Solo Oil (SOLO) and the Horse Hill gang, And I have two pieces of good news for the Mrs.

SFE

Safestyle UK – hopefully prior warnings heeded as it’s “materially below” expectations again

Around eleven months ago, it was suggested to bank profits in windows and doors retailer and manufacturer Safestyle UK (SFE) with the shares around 300p. I then noted my wariness of the valuation in relation to prospective earnings much enhanced at around 290p HERE and further cautioned at 225p HERE, 170p HERE and 164p HERE. The shares closed yesterday at 152p and today a further Trading Update

KDR

Karelian Diamonds – Interims: when’s the placing, and what about related party payments?

Yesterday the good professor Conroy’s elder child, AIM-listed Conroy Gold and Natural Resources (CGNR) released its interims to last November and it needs cash. Today it is the turn of little brother, Karelian Diamonds (KDR) and the picture is no better. And as you shall see, there is an air of one insolvent partner funding the other. At least, that’s how it looks. And I wonder about the maths….

ITV

ITV - still backing my CEO crush

Obviously great excitement at Bailey Towers today as Carolyn McCall hosted her first results presentation as CEO of ITV (ITV). I professed my attraction to her...management capabilities back in mid-November, when I observed that the bear case for the stock was overstated. Even though the shares have fallen back 5% today, we have lifted off that low point which is pleasing to see. So what's the tone of the update?

MRS

Management Resource Solutions continues to turnaround the business

Occasionally a company which looks dead and buried does actually manage to turn things around, and I’m starting to wonder if that will be the case with Management Resource Solutions (MRS).

DFX

Defenx – cash burn continues & “actively exploring funding options”, but not to worry… there’s a new “strategic plan”!

Updating on cyber-security software group Defenx (DFX) towards the end of last month, apparently progress was being made under new leadership – the company having previously talked of ensuring “that profitable revenue growth is delivered in the medium and long-term”. However, its prevailing trading and financial situations saw me emphasise it’s got to reach the medium and long-term first! Today a further Trading Update

BCN

Bacanora: What's the Chinese for Fuk Yu or is that the name of the compliance officer at your "investor" NextView Capital

Well this is embarassing. On December 14 B acanora Minerals (BCM) announced that China based investor NextView Capital was investing in new shares at 94.53p to take a 19.83% stake worth £31.17 million. On February 1 were told that the Chinesee had not completed by January 31 as scheduled but not to worry. Today we learned the awful truth...

MYSQ

MySquar shares slipping shouldn't the fraudsters be making a statement?

I know that MySquar (MYSQ) prefers to leak speculation and innuendo as news via the fraudsters poodle journalist of choice, Rob Terry's pal Ben Harrington, but perhaps the holocaust denying fraudsters might consider an RNS PDQ!

ALTN

Altyn – bonds agreement sparks shares, more to come

Altyn (ALTN) “is pleased to announce… an underwriting agreement with JSC Freedom Finance, a subsidiary of Freedom Holding Corp. to raise c. US$15m, through the issue of five-year non-convertible tenge-denominated bonds”, with CEO Aidar Assaubayev emphasising “completion of the bond issuance will allow the company to accelerate the achievement of target production capacity levels, transforming the company into a significant gold producer in Kazakhstan”…

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