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Latest News

AMGO

The FCA just does not get it: a £72.9m fine that is nothing of the sort for Amigo

The FCA has today published its final report into the wrongdoings at loan shark Amigo (AMGO) and it is damning but, other than a public censure, there is nothing it is going to do about it.
VRS
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Versarien prize contest – guess the amount of red ink when results eventually arrive

I realise that I have yet to post the olive oil for to the winner of the readers tips of the year contest. Fear not I shall. But the prize in this contest is a small jar of my home grown and picked radishes. This competition is brought to you thanks to Versarien (VRS) a favourite company of this website whose shares are worth 0p and which is run by a loathsome bully and disgraced ramper Neill Ricketts. To the contest…
GFIN

Gfinity – hopefully my prior warnings were heeded as here’s the (significantly discounted, natch) bailout equity raise

Last week I noted on company which describes itself as “a world leading esports solutions provider” Gfinity (GFIN) that ‘I was correct to be very wary of previously-stated commercial agreement ‘delight’... now bailout equity raise discussions’ as the shares fell to 0.25p. Now the company “is pleased to announce that it has conditionally raised £2 million (before expenses) in an upsized placing and subscription”. Good news then?
JAY
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BlueJay Mining wants to deceive you - $6 million death spiral

The management may have changed at BlueJay Mining (JAY) but the desire to mislead investors is very much the same, the culture of smoke and mirrors is intact. Today it announced “Institutional Equity Subscription.” Bollocks. Total bollocks. This is a death spiral.
ZAMZ
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Zamaz another acquisition but how will it raise the cash to stave off its imminent liquidity challenges?

Zamaz (ZAMZ) where Dominic White of the fraud Supply@ME Capital (SYME) infamy is the founder and non-executive director and owns via 66.29% of the shares via companies he controls, has announced another acquisition which begs more questions than answers, not least a looming financing crisis.
ARS
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Asiamet Resources – BKM project feasibility study progress update, Buy

Asiamet Resources (ARS) has announced that it has been “extremely busy” progressing a feasibility study update for the BKM copper project in Central Kalimantan, Indonesia, including estimates which are “very positive for the capital cost of the project relative to original inputs”.
POLX

Polarean Imaging – has “cash, which is expected to fund the company until May 2024”… or not?!

Medical imaging technology company Polarean Imaging (POLX) has issued a “Company Update” announcement including that it “finished 2022 with approximately $16M in cash, which is expected to fund the company until May 2024” and that it is now looking “to demonstrate the establishment of commercial traction and clinical adoption beyond our existing global research base”. Sounds ok, so what of a current share price response down by more than 12% to below 40p?
DX
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DX Group – I having questioned whether corporate governance shambles really was “concluded”, it now faces legal proceedings

Parcel freight, secure courier and logistics services group DX (DX.) has confirmed that it has “received a claim from Tuffnell Parcels Express in relation to confidential competitor information being obtained by DX in the past. Matters referred to in the claim were subject to a corporate governance inquiry and investigation by DX, the conclusions of which were reported by the company in an announcement made on 20 September 2022. The group intends to defend its position robustly”. So what of a share price currently approaching 6% lower to 28p?
Bearcast
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Tom Winnifrith Bearcast: Just how screwed is MJ Hudson, a timeline of deceit and destruction

In today's Bearcast I look at Tintra (TNT), Inspirit Energy (INSP), MJ Hudson (MJH) run by the founder of the West Ham United supporters on Linkedin but for whom there look to be no excuses, Bidstack (BIDS) and the Abrdn Smaller Companies IT (ASCI)
TGP

Tekmar – preferred partner exclusivity period further extension, what of latest share price fall?

Offshore energy technology and services group Tekmar (TGP) has announced that its currently preferred partner’s “due diligence process has concluded and exclusivity has been extended to 31 March”. So what of a current share price response to 13p, over 16% lower?
TNT
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HUGE EXPOSE: Tintra: were net assets and profits in Tintra Acquisitions accounts to 31 March 2022 understated by £15 million?

In a previous article, I exposed that the fair value of the ordinary shares in Tintra (TNT) that should be required to be valued in the accounts of Tintra Acquisitions Limited but clearly weren’t of £7,446,291. In this note, I highlight another material asset that wasn’t recorded, that being the convertible loan provided by Tintra Acquisitions to Tintra Plc and this could make this scandal, one HMRC is bound to be investigating a £15 million one. That is three times the size of Nadhim Zahawi's recent "scrape."
GCAT
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Caracal Gold – another letter to Andrew Monk as the formal FCA investigation ratchets up

Andrew Monk of VSA Capital (VSA) has spent the past week sunning himself at the Indaba Mining conference in Zim South, attending cocktail reception after cocktail reception or, as he terms it, working. But now he is back and finds his prized client, Caracal Gold (GCAT), in the midst of a full scale FCA enquiry into insider dealing and market abuse. As the first scalp was announced today, I have dropped Andrew a note.
BIDS
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Told y’all: Bidstack forced to restate FY trading statement and, almost certainly, interims – cash crisis by summer

It is an ouzo on cornflakes day of vindication once again. As I predicted HERE, the Bidstack (BIDS) Full Year trading statement of January 3 was accounting for dummies and today it has been restated. Almost certainly the ramptastic interims used to inflate the share price before the last placing will also have to be restated and with a clear warning for 2023 and 2024 on sales, a cash crisis looms by summer. In a country with a proper regulator CEO Lyin’ James Draper would be having his collar felt. Luckily for Lyin’ James, the Oxymorons at AIM Regulation couldn’t catch a cold.
BRCK
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Me, pseudo philosophy and why Brickability Group should give us more (despite beating brokerage hopes)

It is certainly fair to say that you do not need to be weird in order to be a weirdo, just as some people make some great investment returns without doing any research. However, a bit of regular investment research improves the odds. Sadly, it is not that effortlessly more investment work inexorably leads to better results. As I was telling a contact of mine on Friday last week who wants to manage their own pension fund, you need to also be a bit savvy and accept that you will make plenty of mistakes. However, the personal investment game is far from boring, and that’s the good news.
CPG

Compass Shares might Go North after Latest Tasty Results

Hello Share Munchers. Having sold my long-held shares back in the summer, I’m considering jumping back into Compass Group (CPG) again. Just as people are returning to their offices. Which is a big benefit to this huge corporate caterer.
COPL
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Death Spiral Finance. What Can Possibly Go Wrong?

Providers of loans to small cash- strapped publicly listed companies, (usually, but not always AIM) which are convertible into equity linked to the average prevailing share price (VWAP) tend to get a bad rap in the same way that the loan shark or the “usurer” gets a bad rap. The type of finance which they purvey is known as “death spiral” which says it all. They normally have websites which provide the bare minimum of detail and describe themselves as “investors” or “growth facilitators” or some sort of misleading handle.
Bearcast
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Tom Winnifrith Bearcast: is Anglesey Mining a fraud?

For reasons I shall explain I know this company well. Is it a fraud like,say, Supply@ME Capital (SYME)? No. But anyone holding since the highs is down 99%. The company engages in sharp practices and I view its assets as worthless. So it will be a zero in the end. How Anglesey Mining (AYM) is still going after 35 years defies belief.
Professor
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Sunday Long Reads: Stolen Puppies, Tech Charity, Salman Rushdie good, Salman Rushdie bad, Too Tall Skyscrapers

Here are five long reads that have nothing to do with shares. Put the kettle on, find a comfy chair. You have the time, don't you?

TATE
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As an investor, Tate and Lyle shares are still Tate and Smile for me!

A mere fifteen months ago, I wrote about why I was “warming up to Tate & Lyle (TATE)”. I concluded that article by observing that I made the share “a BUY compared to Friday’s close of just shy of a 675p share price”. How is the story now with Friday’s closing share price 788p a share (and the global supplier of food and beverage ingredients company founded over a hundred years ago pays a dividend as well).
Tumbleweed

Animated Chart: The Rise and Fall of Music Sales, by Format (1973-2021)

This eyeopening chart from Visual Capitalist shows, in animated form, that what used to be all vinyl is now all digital. But did you forget about 8 Tracks? And ringtones? Ringtones! Who paid for ringtones!
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