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Recent results from Berkeley Energia (BKY) emphasised it’s “focussed on developing Europe's largest uranium project, the Salamanca mine” and a “US$120 million sovereign wealth fund strategic investment to bring Salamanca into production”. The end August announcement of the latter helped the shares return above 50p, but they have currently slid back to 47p…
I forgot to ask one big question at the Conroy Gold & Natural Resources (CGNR) GM on Friday - when is the next placing? But before we come to that - and the answer must be soon - there is a little matter of possibly the biggest stock overhang on AIM. The TR1's are flying thick and fast.
Well it is now official. It is perfectly acceptable for the chairman of an AIM listed company to take $2.4 million of a company's cash without permission. You and I would call taking someone else's (that is to say shareholder's) money theft or stealing. But on AIM it is simply an unauthorised loan. Pas de probleme mes amis!
Previously writing on Digital Barriers (DGB), I concluded bearishly despite a “Framework Contract and Trading Update” announcement attempting to emphasise positives. Now there is an announcement of a conditionally agreed sale of its video business, noting “uncertain nature and timing” of growth and “to continue as it is would stretch the resources available to the existing group within its current structure”. Hmmm, not a great combination…
Hello, Share Puzzlers. What do you think might be the results of Marks & Spencer (MKS) for the second quarter of its year? If you are a long-time holder, you will not be very excited. I first bought this share at least 20 years ago. It was 300p a throw, quite a lot of money, then. Yet despite a huge devaluation of the pound and inflation the share is still only 349p today.
Answers on a postcard. But for starters, one Hathaway, One had a way but lost it. I start with a detailed look at the Woodford Patient Capital Trust (WPCT) then run some numbers by you on LPE's and Purplebricks (PURP). I mention UK Oil & Gas (UKOG) en passant, Jersey Oil & Gas (JOG), Columbus Energy (CERP), Mirada (MIRA) and finally Conroy Gold & Natural Resources (CGNR)
Towards the end of last month I noted on DX Group (DX.) forget the planned investment, the repayment of HSBC clearly means it has been, and remains, a scramble to prevent cash crunch ahoy. There’s now a “£24m Fundraising, CEO Appointment & Board Changes” announcement…
There was I thinking that I had missed the day in court of Abchurch PR supremo Julian Bosdet as he battled charges that he was driving his Range Rover back to his country pile while under the influence. Oh no...
It’s the start of the fourth quarter and October, always the most volatile month of the year, has started with shock and surprise. Just a few years ago it would have been inconceivable Spain’s vibrant democracy might stumble towards the verge of dismemberment as it is now. With the S&P 500 recently breaking above 2500, there seems to be nothing to dampen the bullish exuberance. The recent run, which has largely been focused on areas in the market with the most sensitivity to tax cuts, has exploded over the last two weeks to record highs. That explosion has also lead to a surge in the Market Greed/Fear Gauge which comprises different measures of market complacency and bullishness and whilst the “Dumb Money” is continuing to pile into markets the “Smart Money” is willing to sell positions to them.
Injuneer is a man claiming to be a drilling engineer but whose "analysis" of Horse Hill and UK Oil & Gas (UKOG) suggests otherwise and demonstrates once again that a (very) little knowledge is a dangerous thing. His "critique" of the analysis of Professor David Smythe is today rebutted by the good Prof in a way that shows again how utterly overvalued UK Oil & Gas (UKOG) shares are today at just under 7p. The Prof writes:
Lifestyle company Magnolia Petroleum (MAGP) has started the ramp ahead of its next bailout placing with news of a share consolidation. It may fool some fools but not the City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel who is at his waspish best and opines:
Okay Beaufort is house broker to Obtala (OBT) and so is biased. As we own the shares so am I! But this 60 page report is detailed and so worth a read. Beaufort writes:
I’ve been on holiday for a week in Italy (funnily enough) and am just catching up on a few interesting pieces of news and thought I would comment on the Saffron Energy (SRON) deal with Sound Energy (SOU) that was announced last week. Makes a lot of sense in many ways but I am disappointed by the scale of the James Parsons-led ramp that has started already supported in all the usual places.
I’ve been pretty critical of Jim Mellon's FastForward Innovations (FFWD) and its CEO, Lorne Abony, in the past but today’s news is a positive step for one of its investee companies, Nuuvera, and worthy of comment and the only negative relates to the obvious blunder that offends my OCD proof-reading nature.
I have explained many times before why, on fundamentals, Sound Energy (SOU) is a slam dunk sell. Now watch this short promo video. This is pure unadulterated cliche ridden bullshit and, inadvertently, makes the bear case better than anything that I could write.
Hello, Share Scoopers. We all know that investing in airlines is one of the riskier areas of share shifting. What with the Ryanair (RYA) situation and the end of good old Monarch. But the more speculative among us should not, given a huge surge in air travel, give up on the flying sector altogether. So may I suggest that you look at another British-based budget airline.
This is non news and Optibiotix (OPTI) should fire whatever poltroons handle its PR for releasing it. Announcing guffe creates the impression that a company has nothing of substance to announce which is not the case.We, for instance, expect news of a massive Slimbiome Tata deal with hard numbers very soon.
Given how crazy and one sided Britain's divorce laws are only a complete and utter idiot of a man who is worth anything at all would ever get married. When I married my Mrs I was worth minus money so it was my mother in law who insisted on a pre-nup. Whatever. Anything for a quiet life. But are we seeing peak insanity in the divorce courts?
The real fear Neil Woodford has is redemptions. The sleazey scoops for blow job articles deals in today's Sunday Times cannot hide that. I look at the absurd valuation of Oxford Nanopore, an unlisted biotech Unicorn, puffed in today's paper but also at the cracks now showing despite the glowing piffle in the same paper's write up on Nomates himself
Good news. The pensioner Jim Bagot who was mugged by stockbrokers WH Ireland (WHI) is planning another protest outside its London offices this week. You will remember that the broker punted and lost hundreds of thousands of pounds of Jim's cash on penny stocks, many of them corporate clients, which was clearly not in the interests of such an old man. Even the regulators agree but WH Ireland has not compensated poor Jim in full. He fights on and his latest placard is below.
Another day, and another set of expenses claimed by Julie Meyer MBE as being "on company business" from Ariadne Capital Limited, now in administration. Staff who were paid late or not at all, investors who have lost everything and the HMRC who will surely see these as more benefits in kind on which Julie should have paid tax, will be horrified. Natch this document has gone to the HMRC. This is October 2014 and is a retail special. Although the Co-op entry, 11 October, is a total hoot.
Oh dear Julie Meyer. This document below which has dropped into the hands of the Winnileaks service is already with one of the FOUR investors in your companies who is suing you and he is adding it to his case. It will be with the FCA and MFSA later today for it indicates a wholesale fraud on your part. It is dated 13 November 2017.
I start with confirmation that Brokerman Dan and I really are doing a Horse Hill to Woodlarks charity walk on 28 July. Are you free and would you like to walk too? If not just give us your cash ( as Dan used to say in different circumstances in the old days). More details here I then comment on the latest year on year newspaper circulation stats (below) - what is happening, why and what it means.
When Sosandar (SOS) listed on AIM at 15p late last year, the forecast was that sales in the year to March 31 would be £1 million. Now we learn that they were £1.34 million. How many companies beat forecasts by that much in their IPO year? This is a special company as anyone who watched the two birds who run it HERE will know. This is not just about sales. It gets better for we loyal shareholders...
Oh dear. Two grovelling letters from tax evading Julie Meyer have come to me via Winnileaks. It seems that her US assets ( 2 flats) are now under lien to the taxamn (the IRS) as Julie forgot to pay any Capital Gains Tax on the sale of First Tuesday in 2000. She is now begging for a payment plan.
It is just over a month since I updated on my trawl to find big dividends which might be safe in a market environment where I don’t see much upside and plenty downside. Having originally settled on BT (BT.A) at about 225p on a yield of just shy of 7%, I added ITV (ITV) at the last count, paying 143.7p. That puts its dividend at 5.4%, although it went ex-dividend before I bought. Meanwhile I finally succumbed to the attractions (as I saw them) of Centrica (CNA), paying 142.95p ahead if its final dividend. How are things looking?
A “Business Outlook Update” from computer vision technologies company Seeing Machines (SEE) - following an announcement on Wednesday of “Australian Distributor Expands Guardian Commitment” and on Friday of “European Commission Agenda Affirms SEE Tech”, which together saw the shares up from 6.6p to 8.55p. Surely good news then…
As we saw earlier, Julie Meyer has told the US taxman, the IRS, to who she owes vast sums, that her only source of income is - illegal - director loans from Ariadne in Malta. Unfortunately that is a lie. Because, thanks to Winnileaks, you can see below a letter from a Swiss company Vestergaard where Julie is a director detailing her pay in 2017. Check its website and you'll see she is still a director. Ooops, I bet Julie hopes the IRS don't find out about that. Sadly for the devout Christian...
The People’s Operator (TPOP) is one of a number of AIM companies where you have to wonder whether there is really any point in it continuing to stay in business, other than generating fees for its brokers.
As we saw earlier Julie Meyer MBE appears to have forgotten to pay any tax on the Capital Gain she enjoyed when selling First Tuesday 18 years ago. Sadly for her the US tax authorities at the IRS have caught up with the devoutly christian tax avoider but are not demanding all their cash at once because it appears that poor Julie really is flat broke. Thanks to Winnileaks I bring you a filing Julie made to the IRS.
If Italy’s neo-anarchist "Grillini" had combined with anti-euro Lega nationalists two or three years ago to form an insurgent government, it would have set off panic in the bond markets. Yet now that this is upon investors, risk spreads have barely moved as Bond purchases by the European Central Bank and negative rates have enveloped Italy with an enormous comfort blanket as most investors think there is no chance that the ECB will let Italy go down, because it is the end of the European project if that happens.
As I head off to Greece later this week it will be to start training at altitude in the Taygetos Mountains. Only kidding. But i have been taking to the gym and starting some modest walks. I really do not want to be shown up too badly on 28 July when Brokerman Dan Levi and I walk from Horse Hill to Woodlarks.
Hello Share Strikers. In recent weeks, nay months, I’ve advocated buying shares in the big oilers, like Shell (RDSA) and BP (BP.). I was very lucky here. And I still think there’s some way to go, with the price of Brent Crude once again at the top of the tree.
Andalas Energy (ADL) is a company that even after its recent placing has NEGATIVE net current assets of $1-2 million and no assets of any value. I think it is worthless but its management wishes to meet me to explain why I am wrong. Hmmm. Well for starters I am a hermit who never goes to London other than for UK Investor and secondly I simply will not meet until the company answers four questions and it is still refusing.
As the winner of the 2017 Dragon's Den – grand prize, a free trip to anywhere the #73 bus goes, bus fare not included - I have a a reputation to protect. So there would be absolutely no reason to do a check in on how the 2018 leaderboard is doing.
AIM-listed, Houston headquartered, Cayman Islands registered oil/gas play Frontera (FRR), whose operations are in Georgia (and if that’s not a Red Flag….) has confirmed gas flow rates from its Dino-2 well in the Taribani complex. It flowed at 315 bbls per day – well, at least part of one day. Apparently that’s commercial, but I doubt shareholders can count their winnings just yet.
Amazingly, the cash shell that is Standard Listed AIQ (AIQ) – with somewhere around 8-10p per share of cash and nothing else – has again returned from suspension this morning. The shares, having peaked (ahead of the last suspension) at 150p to buy are now in free fall, sitting on a spread (last seen) of 80p (to sell) to 130p (to buy). I have no hesitation in recommending a sell – there is, after all, only 8-10p of value here. What does surprise me is that there has been no official comment whatsoever from the company – or, indeed, anyone else.
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