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Magnolia Petroleum - why Rita Whittingham must be fired Part 3 - duping mug punters
Earlier today i showed how Magnolia Petroleum (MAGP) has become a gravy train not just for CEO, not so lovely Rita Whittingham, but for her extended family as well. But when the operations are not generating cash how to fund the gravy train? Shimples: pump the stock with misleading RNS statements and do a discounted placing. Rinse and repeat. Want an example (for there are many)? Here goes.
- By Tom Winnifrith, The Sheriff of AIM |
- 18 June 2017, 03:33 |
Norcros – results good and remains confident: BUY
Bathroom and household equipment and accessories group Norcros (NXR) has announced results for its year ended 31st March 2017 and that “the board remains confident that the group should continue to make further progress for the year ending 31 March 2018”.
- By Steve Moore & Tom Winnifrith |
- 18 June 2017, 03:32 |
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EXPLOSIVE: Magnolia Petroleum Part 2 - Why Rita Whittingham must be fired: family on the payroll
Earlier today I suggested that less than lovely Rita Whittingham ( remuneration $245,438 in 2015 and $303,737 in 2014) would almost certainly be ousted at the forthcoming GM - the maths look grim for her as I explained HERE. But if you were still wavering, did you know about her family on the payroll? Oh yes, this is shocking.
- By Tom Winnifrith, The Sheriff of AIM |
- 18 June 2017, 03:31 |
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Tesla Motors – Is it a FANTA stock or is Elon Musk just David Lenigas on steroids?
I was going to have my usual weekend dig at one of the many over-promoted pieces of crap on the lower reaches of AIM but thought instead I should lift up my head and look further afield and take a pop at most over-promoted stock in the global markets with a proper superhero at the helm, namely Tesla Motors (NSDQ: TSLA) and the irrepressible Elon Musk.
- By Cynical Bear |
- 18 June 2017, 03:29 |
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Magnolia Petroleum Part 1:-Back Zac "The Knife" Phillips and Sack Rita Whittingham
And so the battle lines are drawn at Magnolia Petroleum (MAGP), the dash guzzling worthless AIM POS founded by Gavin Burnell of Globo infamy. On the one hand there is an overpaid incumbent board led by less than lovely Rita Whittingham and backed by an overpaid army of crony capitalist advisers. On the other side are Even Ainsworth from Nostra Terra (NTOG) and Zac "The Knife" Philips, the City's top oil analyst. Magnolia has accepted that a GM request to outs less than lovely Rita and appoint Ainsorth and The Knife is valid. So what is the voting maths?
- By Tom Winnifrith, The Sheriff of AIM |
- 18 June 2017, 03:23 |
Notes from Underground: Um, go Quindell?
Ha ha. We've been waiting for this for weeks, but now Slater & Gordon (who were given all the relevent ShareProphets articles when there was still time to back out) has actually filed suit against Watchstone, nee Quindell, claiming breach of warranty and/or fraudulent misrepresentation for a total amount of up to £637 million plus interest. It almost makes one want to root for Quindell this time.
- By Bearded Marxist Darren Atwater |
- 18 June 2017, 03:21 |
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Orogen - update on RTO and company chat
Orogen (ORE) has confirmed that the second tranche of the secured loan made to Thread 35 Ltd has now been drawn down. The total amount of the loan, which is now fully drawn down, is £250,000.
- By HotStockRockets |
- 17 June 2017, 02:32 |
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African Potash - like Dracula, seemingly unkillable but in the end...
You would have thought that having not one but two advisers resign because they would not sign off on its lies, being out of cash, having its shares suspended on NEX after being slung off AIM would be enough to kill African Potash (AFPO). But it appears that the holy water, the garlic, the silver crucifix, the stake through the heart and all the other tools in Van Helsing's bag are not enough. But remember, in the end the Count will die.
- By Tom Winnifrith, The Sheriff of AIM |
- 17 June 2017, 02:17 |
Richoux – significant (discounted) management investment, but clear challenges remain for former Prezzo boss
I previously wrote on restaurant group Richoux (RIC) in April, with the shares at 20p, concluding that there looks much turnaround work to do in an admitted “difficult” period for the sector and with it also placing ahoy, I avoid. The company has now made a “Completion of Subscription & Director Transactions” announcement...
- By Steve Moore |
- 17 June 2017, 01:43 |
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Concepta - good news and er ...less good news and good news: STRONG BUY
Let's start with the bad news. It really should not be a surprise given the lack of orders announced (until now!) but Concepta (CPT) has confirmed that it will miss full year 2017 sales forecasts. That is the bad news. It has launched a new product and it is a few months behind schedule. These things happen. But...
- By HotStockRockets |
- 17 June 2017, 01:25 |
Table of shorted AIM shares - week to 16/06/2017
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 ShareProphets |
- 17 June 2017, 01:25 |
Sylvania Platinum looks to offer great long term value
As long as there is nothing fundamentally wrong with the company itself, then with any leveraged play on commodity prices, which is basically what many producers are, the time to be buying is when the price of the underlying commodity is near the bottom of a cycle. It is usually hard to judge exactly where the bottom is going to be but, when it comes to platinum, I think we are nearing that area.
- By Gary Newman |
- 17 June 2017, 00:58 |
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This weekend's Primary Bid offer is Myanmar Investments
This is becoming routine. After hours on on Friday PrimaryBid announces a material placing opportunity for its members. This weekend it is Myanmar Investments (MIL) where directors are putting in at least $725,000 ( a good sign) as it seeks to raise $3 to $5 million at $1.18 - a 9.2% discount to its closing price on Friday.
- By Tom Winnifrith |
- 17 June 2017, 00:57 |
The Footsie May Not Rise for much Longer - Get Ready to Sell
Hello Share Cringers. As a BBC current affairs producer for nearly all my working life, I thought its 24-hour news service was doomed to failure. How wrong, in the light of recent events, I was.
- By Malcolm Stacey |
- 17 June 2017, 00:56 |
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Drowning in debt Avanti Coms takes on more debt, is classed as non investment grade & exposed for misleading (again)
You are drowning in debt so what to do? In this crazy world you take on more debt! and so Avanti Communications (AVN) today announced that it had secured a new $100 million debt facility. Read carefully and you will see what an absolute nightmare this news is.
- By Tom Winnifrith |
- 16 June 2017, 07:38 |
SThree – trading update argues “solid base”, but what about the macro picture?
Shares in staffing business SThree (STHR) are currently trading higher, above 300p, on the back of a half-year trading update. However, they are still lower than the more than 330p reach earlier this year, so what’s the current story here?...
- By Steve Moore |
- 16 June 2017, 07:35 |
EU Supply – framework agreement signed, but valuation merited?
Shares in e-procurement software provider, EU Supply (EUSP) are currently a further more than 17% higher, at 17p, on the back of a “Framework agreement signed” announcement. Hmmm, a framework agreement – so no specific financials then?...
- By Steve Moore |
- 16 June 2017, 04:50 |
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Fisking The Times & Standard Life as AIM is lambasted
The Times yesterday ran an article "Investors take aim at LSE’s mistrusted upstart - Stock exchange defends Alternative Investment Market but its critics are losing patience", which it painted as a major attack on AIM. In fact it appears to have found one new critic - Standard Life - which, having done its conkers on Fusionex (FXI) because its fund managers knew better than our writers here who issued repeated warnings, now seems to think AIM has a problem. On which fucking planet has Standard Life been for the past ten years?
- By Tom Winnifrith, The Sheriff of AIM |
- 16 June 2017, 01:19 |
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InterQuest – trading warning, but the attempted robber barons admit “solid” longer term fundamentals
A “Trading update” announcement from InterQuest (ITQ), a company subject to an attempted robber baron (Oops) management, buyout with a first closing date in less than a week. Hmmm...
- By Steve Moore |
- 16 June 2017, 01:17 |
Metal Tiger – news from Botswana and Thailand, soon to roar?
Metal Tiger (MTR) has updated on interests in Botswana and Thailand – with on the former CEO Michael McNeilly “excited by the strong mineralisation intersections in the geotechnical holes drilled to help plan the open pit design” and on the latter noting the project “not only warrants the further technical work required to commence an optimised reopening, but holds the potential for significant Mineral Resource increases and enhancement”...
- By HotStockRockets |
- 16 June 2017, 01:15 |