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Paternoster Resources - the Elephant in the valuation room
Yesterday I explained at length HERE why I would not touch Paternoster Resources (PRS) shares with a bargepole - they look cheap in relation to asset value but are not. Indeed I think that the real realisable NAV today is far lower than the last, March 31, stated NAV. Let us just look at an unlisted investment as a case study - Elephant Oil.
- By Tom Winnifrith, The Sheriff of AIM |
- 10 July 2017, 01:43 |
Ever Read Sir Gawain and the Greene King? Well, this Brewer Needs No White Knight to keep on Making Cash.
Hello Share Turners. Recent results from Greene King (GNK) were a dose of good news in a difficult consumer market. Operating profits were up by about 5%, while revenues on the year were up nearly 7%.
- By Malcolm Stacey |
- 10 July 2017, 01:06 |
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Lagos Securities put on the record re the Mercantile ports fraud again - letter 5
When disgraced AIM casino posterboy Mercantile Ports & Logistics (MPL) moves from being a member of the minus 98% club in which it currently sits to being a member of the minus 100% club, I want it known that Nomad Cenkos has been fully aware of massive issues all along and has done nothing other than bank obscene fees. As such we have run a series of letters from a big shareholder to Amber Wood, head of Corporate Governance at Lagos Securities, HERE and HERE and HERE and HERE. Now for letter five which puts fragrant Amber and Lagos, Nomad to the Quindell (QPP) fraud as well, on notice for when the final wipeout occurs that they will be held accountable. This letter has also been cc'd to AIM Regulation - I know they are useless but surely even they must realise that Lagos Securities has "form."
- By Tom Winnifrith, The Sheriff of AIM |
- 9 July 2017, 09:13 |
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If all else fails - buy a lithium licence! The "business plan" for AIM joke Arian Silver
When a tiny AIM company suddenly becomes popular all over Twitter and the bulletin boards, and without any real news to justify that sudden attention, then you have to question why it is happening.
- By Gary Newman |
- 9 July 2017, 07:58 |
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FastForward Innovations: Another disappointing Lorne deal – disgraceful non-disclosure
Tom covered the key headlines on the year-end results of Jim Mellon's FastForward Innovations (FFWD) on Friday but I wanted to focus in on a couple of points, most notably the exorbitant amount Lorne Abony, CEO, gets paid considering the despicable way in which he treats his shareholders and the shocking performance, and non-disclosure, of one of the investments that he brought to the table, namely Vemo.
- By Cynical Bear |
- 9 July 2017, 05:44 |
ShareProphets China AIM 'Filthy Forty' update – the frauds scrambling to get 2016 results out in time edition
Since our previous update, most of the remaining ShareProphets China AIM 'Filthy Forty' companies have been scrambling to get results out in time, two further have been suspended and another (MoneySwap) has been booted off the AIM Casino - to follow the likes of Geong International and co in 'Geong, Geong' and then Gone...
- By Steve Moore |
- 9 July 2017, 02:51 |
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Paternoster - at a c50% discount to NAV surely the shares are cheap? er...no
My attention is drawn to the curious way that Paternoster Resources (PRS) communicates information to its long suffering shareholders and prompted to ask if the shares are as cheap as they look. Of course they are not.
- By Tom Winnifrith, The Sheriff of AIM |
- 9 July 2017, 02:24 |
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Exclusive: Watchstone flogs another business back to the old Quenron gang - when will it tell the market?
Suffice to say the big winners from this transaction are the old gang, the associates of the King of the fraudsters Robert Simon Terry, not shareholders in Watchstone (WTG), Quindell (QPP) as was. But its remiss of the new team at Quenron not to keep you updated. So let me assist.
- By Tom Winnifrith, The Sheriff of AIM |
- 9 July 2017, 02:17 |
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Charlotte Hogg: Disgrace does not last long for establishment swine: new Visa job
In late March of this year, Charlotte Hogg was eventually forced to resign as deputy Governor of the Bank of England for a clear breach of conflict of interest guidelines, a breach of rules she knew well as they were drawn up by her. I predicted then that she would be back and it would not take long. You could see the writing was on the wall as the establishment praised her for "doing the honourable thing". Bollocks.
- By Tom Winnifrith |
- 9 July 2017, 02:15 |
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When will Amanda van Dyke fess up to the bloody mess at Glenwick? 7 Questions
Booted off the AIM Casino in March for failing to do an RTO on time, Amanda Van Dyke's Glenwick (GWIK) is nothing if consistent: it keeps missing deadlines. Cash is almost certainly zero, or near as damn it, by now but how about an update? So far no news is bad news for this related party infested failed ramp.
- By Tom Winnifrith, The Sheriff of AIM |
- 9 July 2017, 02:08 |
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Notes from Underground: Price of everything, value of nothing
The number one story this week is EXPLOSIVE: Conman Darren Winters and his evil wife Tatjana slammed by Judge in another Courtroom thrashing - full transcript. Yet, I don't think it is the number one story merely because the subject matter is a popular one. Last week, the number one story was Exclusive: The full Slater & Gordon High Court Claim against Watchstone for £537m - damning on Rob Fielding, David Curry & the lies Quindell told.
- By Darren Atwater |
- 9 July 2017, 02:06 |
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Nearly Time to Short Tesla
I am not a great fan of shorting crazy valuations on the basis that they tend to get crazier. For this reason, I have not been short the likes of Fevertree (FEVR) or Purplebricks (PURP), as calling the top is well-nigh impossible.
- By Lucian Miers |
- 8 July 2017, 09:27 |
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Columbus Energy - we tip this a 3rd time - a buy worth 3.5p
We tipped these shares a couple of weeks ago for a third time. The shares are now 2.7p in the middle and so even at the bid we are up on this one. But our target to sell at 3.5p+ so there is more to go for. Our original share tip reads:
- By HotStockRockets |
- 8 July 2017, 09:18 |
Boxhill Technologies: Disappointing results - what was the point of all the acquisitions?
The poor results from Boxhill Technologies (BOX) yesterday were not a huge surprise as the drop in the payment processing revenues had been flagged in the recent trading update that I covered HERE. However, while there is still a chance that an unsuspecting PI thinks there’s opportunity here, I will continue to emphasise a couple of odd points about this business that continues to make it uninvestable for me.
- By Cynical Bear |
- 8 July 2017, 04:13 |
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Molins at 149p offer - worth at least 173.5p
We tipped these shares a couple of weeks ago at a 130p offer. Readers of the Nifty Fifty are thus happy bunnies as the shares are now 147p-149p. We do serve up good share tips and Steve and I are now working on our next one! But the shares should head higher still. I explain why in detail - here is our original tip from two weeks ago.
- By Tom Winnifrith |
- 8 July 2017, 02:38 |
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Oi! Jim Mellon - so how have Plethora shareholders done after that 12.5p all share offer you made?
Back in November 2015, Plethora Solutions (PLE) the AIM listed developer of a treatment for premature ejaculation run by offshore based asset stripper Jim Mellon was almost on its uppers, its cash position was critical and its share price had collapsed. Refinancing would have been impossible so it was announced that Regent Pacific, Mellon's Hong Kong based vehicle which already owned 28% of Plethora having chucked good money after bad, was to launch an all share offer worth 12.5p per share. I warned that was too good to be true HERE. And so let's wind forward 20 months...
- By Tom Winnifrith |
- 8 July 2017, 02:12 |
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Table of shorted AIM shares - week to 07/07/2017
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2016 and thus far in 2017 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
- By Steve Moore |
- 8 July 2017, 02:12 |
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How to Judge a Company by What Its Big Cheese Says to Interviewers.
Hello Share Pippers. There are all kinds of tricks you can use to maximise your profits. Some of them may seem to make little difference, but over the long haul they’ll put thousands of pounds in your pocket.
- By Malcolm Stacey |
- 8 July 2017, 01:00 |
LightwaveRF – Apple certification. Ooooh. Will it though need to be discounted fundraising ahoy?
LightwaveRF (LWRF) “is delighted to announce that its next generation Lightwave Link Plus has been certified under Apple's licensing scheme as a ‘Works with Apple HomeKit’ product”. Ooooh, Apple hey. Cue a further share price rise, but what’s actually happening here?...
- By Steve Moore |
- 7 July 2017, 09:40 |
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Pure Horse Shit from Jim Mellon's FastForward - the shares will continue to tank
FastForward (FFWD) the investment company chaired by my old friend, the offshore based asset stripper Mr Jim Mellon, served up results for the year to 31 March today. Cynical Bear will give them the full workover they merit over the weekend but I could not give my old pal Jim a completely free pass. The numbers are shite
- By Tom Winnifrith, The Sheriff of AIM |
- 7 July 2017, 09:11 |