After yesterday’s inadequate disclosure from Ben’s Creek  (BEN) - CEO Adam Wilson – about share dealings by its biggest shareholder MBU Capital - senior advisor Adam Wilson – Mr. Wilson of Daniel Stewart and Atlantic Carbon infamy – has sought to clarify matters with another comical RNS.

The bond market is nearly always a better guide to the value of equity than the equity share price since the latter – in situations of distress – is largely driven by bulletin board morons in denial who are trading the stock while institutions  are unable to sell large positions so just sit there like rabbits in the headlights waiting for the end. So there are some folks who reckon that buying Argo Blockchain (ARB) shares  at 8.5p giving a market cap of £40 million is smart

Judging by the move of most equity and bond markets over the last day or so, yesterday’s slightly lower than anticipated CPI numbers in the US excited the average investor. However, as shown by today’s UK Q3 GDP numbers, economic life remains tricky even before we talk about geopolitics, debt or crypto madness. It remains clearly an active investment world that has plenty of opportunities and threats, which is great news for boring stock pickers like me and less good news for “buy a bit of everything” passive funds.

I noted yesterday how the bars chain Nightcap (NGHT) has had to halt its planned rollout because of the cash crisis it faces. In the year to July 3 2022, on sales of c£35 million it reported a pre-tax profit of just £238,000 and the operating cashburn was a stonking £7 million. But boss Sarah Willingham described the year as “rewarding and fun”. Just how Rewarding and fun? You will be horrified…

AIM-listed Turkish Gold-producer Ariana (AAU) has released a progress report over drilling and exploration across its 23.5% part-owned Turkish assets. With the shares having drifted to 3.05p amid general market disinterest (although I fancy that is changing as we speak) the report is upbeat.

Describing itself as a “technology and services business aiming to revolutionise home moving and ownership”, Smoove (SMV) has announced results for its half-year ended 30th September 2022 with “Highlights” including “revenue increased by 4% to £10.6m… Cash balance of £17.0m… Proposed tender offer to return up to £5m to shareholders to be launched as soon as practicable… confident that we have the right strategy and plan in place to build on the successes of the first six months of this financial year”. So why currently a share price response down approaching 7% to 33.8p?

Asset adviser Grant Williams says you need to admit your investment mistakes. How many of us will do that?

Learning and skills development programmes company Malvern International (MLVN) has announced a placing “principally to redeem the final tranche of company's outstanding loan notes” and that “the holder has agreed that the outstanding principal of the loan notes may be redeemed at a five per cent. discount. In addition, the holder has agreed to sell all the ordinary shares he holds in the ordinary share capital of the company, amounting to 917,600 ordinary shares at the placing price”. So what of this currently helping the shares more than 15% higher to 9.5p?

There is no way that this turd can be polished. It is a turd for housing market bulls. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) covering October is even worse than that for September which was itself pretty dire. Those seeing value in anything housing related shares ( Comrade Stacey?) need to take a reality check.

Digging a hole in the road should not merit an RNS but when you are desperate to ramp your shares ahead of the next bailout placing, needs must.

I start with a few words on UK press coverage of the mid terms. No the Democrats have not won! Then I look at bitcoin and its woes, Argo Blockchain (ARB) - bust by next week? - Revolution Beauty (REVB), Boohoo.com (BOO), Novacyt (NCYT) and Nightcap (NGHT) and the problems a CEO has when the media blows smoke up his or her arse for too long.

Bioplastics and radio frequency technology company Biome Technologies (BIOM) has issued a trading update commencing that “Group revenues for the quarter ended 30 September 2022 were in line with management expectations at £1.9m and were 77% ahead of the similar period last year” and including “encouraging signs from the uptick in demand from the large opportunity we have been pursuing for some time; growth from the broadened customer base and the portfolio of scale opportunities”. What though of a share price currently up approaching 50% on the announcement to 75p?

Dragon’s Den “star” La Willingham tells shareholders in Nightcap (NGHT) that for her the past year has been “eventful, fun and, at all times, rewarding”. With her bonus scheme and that for her husband Michael Toxic, that may be true for her family. The shares listed at 10p, peak ramped at 33.5p and the last placing was at 23p. The shares are now just 9p-10p after today’s dire results. So anyone who has ever bought a share in this company since its  January 2021 listing and who still holds is now out of the money. Do mug punters in Willingham's vanity PLC regard this experience as “fun and rewarding?” It will only get worse for them.

I have always argued that promote Ben’s Creek (BEN) is uninvestable on the basis that its CEO Adam Wilson of Atlantic Carbon and Daniel Stewart infamy is a scallywag and also that its assets which sent the last owner into bankruptcy were piss poor.  Today comes news of a share transaction that stinks and an explanation that does not wash.

BP (BP.) has announced third quarter results emphasising “net debt fell for the tenth successive quarter; we are investing with discipline; and we are delivering on our commitment to shareholder distributions - announcing a further $2.5 billion share buyback”. So what of a now slightly further higher 486.45p share price?

Sylvania Platinum (SLP) has announced “best quarterly production since the COVID-lockdowns in early 2020. This increase in production ounces and the 2% higher PGM basket price recorded in the quarter, resulted in stronger profits”. The shares have currently responded up to 92p and there looks more to go.

As we all face a cost of living crisis with the poor and the young hardest hit, Andrew Bell insists that Opera needs more subsidy. Is this a more tenable position than his defence of the Red Rock Resources (RRR) share price? I start with that then onto the two big losers from yesterday's surprising mid terms in the USA. Then onto Kefi Gold & Copper (KEFI), Ithaca Energy (ITH), MGC Pharmaceiticals (MXC) - which looks like a possible zero - and Dignity (DTY).

OptiBiotix Health (OPTI) has announced the opening of an online shop on Tmall.com for its Go-Figure products and that it has launched GoFigure shakes containing patented weight management aid SlimBiome on Tmall China. What of this and of a share price edging up to 19p to buy?

UK hospitality business comprising cocktail-led bar and restaurant brand '63rd+1st', fast casual dining brand 'Fridays and Go' and American-themed 'Fridays', Hostmore (MORE) has announced “a major new marketing campaign for its Fridays brand”, emphasising “in an environment where consumers are putting more thought into where they spend their money, we recognise the importance of elevating our positioning”. Really?

Secondary lender PCF Group (PCF) was an AIM sewer high-flier with its shares trading at above 40p just over 4 years ago. Today after news that it was winding down its loan book and delisting the shares are just 0.56p and the man who is to blame for the chain of events that led to today’s bombshell  is David Bull, until August chairing Eight Capital Partners (ECP) and running the Audit Committee as a NED as its bastard big brother the fraud Supply@ME Capital (SYME). Is he the most toxic bean counter in the small cap world?