ShareProphets

Saturday 19 August 2017 The one stop source for free breaking news, expert analysis, and videos on AIM and LSE listed shares


31 May 2016, 09:41 | By Tom Winnifrith |

PCG Entertainment - shocking trading statement, just shocking

With a heavy heart, since good friends are involved in PCG Entertainment (PCGE) those of us who had hoped that it was the China AIM play that would work out well, today look in dismay at a share price cratering and a trading statement that is just shocking beyond belief. This was meant to be the good China play..what does that say about the rest?

31 May 2016, 09:37 | By Nigel Somerville, the Deputy Sheriff of AIM |

Igas – new Nomad and Broker appointed: bail-out imminent?

Shares in AIM-listed and over-indebted Igas Energy (IGAS)  had a good week last week, rising by about a third in value before slipping back again. But its balance sheet problems (well documented on ShareProphets, see HERE) continue to mount and this morning it was announced that Investec has been appointed Nomad and joint Broker, replacing the previous incumbent Jefferies International. Whilst one might wonder if Jefferies jumped or was pushed, the bigger question is when the bail-out re-financing will come and how big the shafting for existing shareholders will be.

31 May 2016, 09:35 | By Cynical Bear |

Xtract sells Manica: Good deal?

Feeling a bit sad writing this having read the RNS issued by Xtract Resources (XTR) last week about the disposal of the Manica project to Nexus and MTI for $17.5 million. I feel that I should pay my respects.

31 May 2016, 08:25 | By Malcolm Stacey |

There's a Fair Chance that FairFX Will See its Customer Count Fairly Fly.

Hello Share  Swelterers. I don’t much like the name of today’s firm I offer for your consideration. You see, I don’t admire company titles which are hard to remember or even say because they don’t conform to the rules of grammar. The company is FairFX  (FFX) which is a prime offender reference my aforementioned prejudice. But having said that, this share is fashionable. That’s because of the EU referendum. If we leave Europe, the pound is expected to take a hit. I dunno why exactly, as the Euro should also be damaged by one of its biggest members leaving. But there we are.

30 May 2016, 19:29 | By Cynical Bear |

Watch out Real Madrid, the Sub-Standard Shockers XI is ready to take on all-comers

Some of you will know I have a bit of a bugbear with the use of the Standard Segment of the Official List, particularly for small investment companies, so in the spirit of Nigel’s great work on the FilthyForty, I have compiled my very own football team of Standard List participants to follow throughout the forthcoming seasons.

30 May 2016, 17:05 | By Gary Newman |

United Cacao is a speculative buy - at the right share price

When it comes to commodities people usually think in terms of oil or mining companies, but there are also many ‘soft’ (grown) markets, and some of these have been performing strongly.

30 May 2016, 13:02 | By Nigel Somerville |

Does the Bagot/WH Ireland case suggest a change in the law is required?

That WH Ireland was deemed responsible for the horrific investment losses of pensioners Mr and Mrs Bagot is in little doubt: the Financial Ombudsman Service (FOS) found in the Bagots’ favour. But due to its limited remit the maximum award it was able to enforce came to just £150,000 plus some costs and interest. Given that the actual losses (and recommended recompense) were a healthy multiple of that figure I wonder whether this outcome shows that the current system is flawed.

30 May 2016, 12:27 | By Graham Neary |

Gulf Keystone Petroleum - Revelations: The Final Judgement

And God shall wipe away all tears from their eyes; and there shall be no more death, neither sorrow, nor crying, neither shall there be any more pain: for the former things are passed away.

It is with no small sense of humility that I disclose a token short position in Gulf Keystone Petroleum.

30 May 2016, 12:17 | By Tom Winnifrith, The Sheriff of AIM |

Fraudster Rob Terry in the Prison showers Caption Contest Result

It is no shock that the Rob Terry bar of soap caption contest produced a flurry of entries as you can see here which focussed in on a similar theme. Terry knows all about folks getting an unexpected shafting does he not? Soon he will find out that the Good Lord was right after all and that it is indeed better to give than to receive. Anyhow the winning caption is:

30 May 2016, 12:08 | By Tom Winnifrith |

Tom Winnifrith Bearcast - Answering the Question asked by the Daily Mail

I prepare for a celebration lunch with lefties in the grim North. Woe is me. But my mind wanders to what else was happening in 1966? I am really not on the ball today. Then I ask how can we say that investors are protected if fraudster Rob Terry can raise cash for his Knob Park ponzi via crowdfunding? Then I answer the question in today's Daily Mail (a loathsome rag) - in a low interest rate era should you pay off your mortgage?

30 May 2016, 11:12 | By Tom Winnifrith, The Sheriff of AIM |

Can the FCA really be so useless that it allows Rob Terry to raise cash on an industrial scale from mug punters again?

It appears that the answer to that question is yes. Terry has not only said he is going to do it but he has told the FCA how he is going to do it. And the chocolate teapots appear happy to let this continue. It is bad enough that Terry boasts that he made in excess of £30 million from the Quindell fraud, but it seems in Britain he can carry on stealing and no-one cares.

30 May 2016, 10:41 | By Nigel Somerville, the Deputy Sheriff of AIM |

Tern – acquisition of Flexiant: a marriage made in heaven, or one of convenience?

On Thursday of last week AIM-listed investment company Tern (TERN) announced the acquisition of Flexiant Limited. It looks a bit of a complex deal, but the question in my mind is what Tern has actually bought? And since Tern already has a holding in the parent company of Flexiant, how does it leave that looking?

30 May 2016, 10:27 | By Tom Winnifrith, The Sheriff of AIM |

Rob Terry's Quob Park Ponzi gets into Crowdfunding with delisted Daniel Stewart

You could not make this up but fraudster Rob Terry is getting into crowdfunding working alongside Peter Shea, the boss of disgraced ex AIM Casino listed China fraud specialist Daniel Stewart (DAN). It was, of course, Daniel Cesspit that listed Quindell on a fraudulent prospectus and signed off of the fraudulent deals with TMC Southern, that conjured up entirely fictitious profits for Quenron in 2011. The SFO will sooner or later arrest Terry and he's going to jail, but it seems as if Shea is determined to implicate himself by association.

29 May 2016, 21:11 | By Cynical Bear |

Boxhill Technologies – a couple of hidden gems?

On reflection, perhaps I was a little bit harsh in my article on Boxhill Technologies (BOX) on Saturday as I think it could be hiding its light under a bushel to a certain extent.

29 May 2016, 09:20 | By Tom Winnifrith, The Sheriff of AIM |

The £100m scale of the Himex Quindell fraud admitted to - Rob Terry Caption Contest

Watchstone (WTG), Quindell as was, has today admitted to the full scale of the Himex fraud - the Hassan Sadiq Rob Terry con at the heart of Quindell - full details are HERE. In light of this please supply suitable captions, in the comments section below, for the picture below in honour of Robert Simon Terry. Deadline: midnight Sunday.

29 May 2016, 09:13 | By Lucian Miers |

Highlands Natural Resources begs to be shorted

Every once in a while a share price goes ballistic for no discernable reason other than retail investors firmly grasping the wrong end of the stick. Invariably reality soon sets in, and although timing is a bit hit and miss, shorting such situations almost always pays off.

29 May 2016, 09:12 | By HotStockRockets |

Vela, update on BTL - still a buy

Vela Technologies (VELA) has followed an announcement that it has completed a follow-on investment in luggage transfer business Portr Ltd, with an announcement of “Further investment in BTL Group Ltd”.


29 May 2016, 09:11 | By Tom Winnifrith |

Tom Winnifrith Bearcast - My Grandfather will spin in his grave as my father & I vote on Brexit today

I am back in the UK for the 50th Wedding Anniversary of my in-laws but on the way to the Grim North today my father says that he will be filling out his Brexit referendum postal vote in front of me. Touche, I have my papers too and will fill in my vote. Back in 1975 my father's father was a spokesman for leave. He will be spinning in his grave as his son, but not his grandson, votes today. I discuss that. Then I move onto Nick Hewer trying to stop old folks being scammed by unregulated boiler rooms. But what about regulated scammers. I go back to poor Mr Bagot, WH Ireland (WHI) and John Molyneux a broker who has retired a rich man having trashed the savings of Mr Bagot and others. Why is Molyneux not being hauled up before someone? What message does that send out?

29 May 2016, 09:09 | By Pizza Hardman Darren Atwater |

Notes from Underground: The Circle Game

OMG. This week's top 10 literally contains of Chris Oil, Brexit, Globo, Paul Scott, Quindell, plus Bearcasts. It's a perfect storm of ShareProphet's reader fantasies. At our next staff retreat/Global Shorting Conspiracy meeting, I'm going to suggest to Tom that he just dedicates his Bearcast each day to one of those topics: Monday: Chris Oil, Tuesday: Quindell, etc.

29 May 2016, 09:05 | By Graham Neary |

Fastjet - Boardroom shenanigans as cash crunch approaches

Since my last article on the subject of Fastjet (FJET), major shareholder and brand owner Sir Stelios has been back on the warpath, this time looking for the removal of the Chairman. With the annual results for 2015 due shortly, and reasonable questions hanging over the company’s funding position, the next few weeks and months are likely to be decisive for Fastjet’s future.

19 August 2017, 11:11 | By Tom Winnifrith |

Tom Winnifrith: Sign up now for new free share tip service FiveFreeShareTips.com

Following complaints from shamed share ramper Roger Lawson, ADVFN has insisted on a raft of new editorial controls on OneFreeShareTip.com. I did not re-start my life five years ago to be told what I could or could not write. I said no and ADVFN boss Clem Chambers has just said that the website will be shut down. So...our hand is forced ... Welcome to fivefreesharetips.com - we hope you join NOW HERE.

13 August 2017, 22:11 | By Tom Winnifrith |

New Bulletin Board Moron of the Week contest - sponsored by the fund managers who knew so much better than the dirty plebs on Telit

Just three months ago some of Britain's top fund managers ploughed more than 50 million dollars into a placing organised by AIM dog Telit Communications despite numerous warnings from ourselves and others. But they knew better and anyhow it was other people's money. The shares have collapsed today to less than half the placing price after the most awful set of interims. But the fund managers will still earn Inter City salaries + ( more than 125) and fat bonuses so who cares? Are there any folks in the share world dumber than those fund managers? Er.... 

13 August 2017, 07:42 | By Gary Newman |

Kaz Minerals offers a buying opportunity on this dip

Kaz Minerals (KAZ) is a great example of the extent that commodity prices can effect larger miners, and the recovery in copper prices has seen the share price trading at multiples of where it was just 18 months ago.

13 August 2017, 01:34 | By Tom Winnifrith, The Sheriff of AIM |

KERBOOM - THE FULL SHOCKING DOSSIER, New fraud revealed - This is why Telit is Globo Mk2 and why it is going to 0p

Over the past week I have shown that Telit Communications (TCM) is run by a man who fled fraud charges in the US but changed his name to avoid investors knowing, I have flagged up banking covenant breaches, red flag strewn interims and an Italian criminal investigation. But that was just an appetizer. Today I give you a full dossier with shocking NEW material, which shows this is Globo Mark 2. it is a fraud and its shares are going to zero.

13 August 2017, 07:59 | By Tom Winnifrith |

Jubilee Platinum deal with Riverfort - death spirals so bad right? NO!

Jubilee Platinum (JLP) last week announced a $50 million funding package to grow its metals recovery business. Oh no Riverfort! Said the snipers. Death spirals, yak, yak, yak. They have it wrong. This deal is, if you read the detail, good news.

13 August 2017, 01:11 | By Pizza HardMan Darren Atwater |

Notes from Underground: Here's a buy recommendation: invest in moped shares

London has a real table problem. At least the outdoor ones, and I don't see Mayor Sadiq Khan putting any effort into it.

13 August 2017, 10:55 | By Tom Winnifrith, The Sheriff of AIM |

Emails sent to AIM Regulation & Nomad Finncap after today's Telit bombshell - this must be suspended 7 AM Monday

This is becoming Globo v2 at a an alarming rate. Today's bombshell dossier on Telit Communications (TCM) nails it as a slam dunk ZERO beyond all doubt. The only way that the shares do not completely crater in the morning is if they are suspended first. And that is exactly what should happen. As such I sent a couple of emails last night. One to tthe head of the Oxymorons Marcus Stuttard and his clueless colleagues, the Keystone Cops at AIM Regulation and the other to the folks at Nomad FinnCap from CEO Sam Smith via head of Corporate Finance Stuart Andrews down to analyst Lorne Daniel with a minor jackal in Corporate Finaance also included in case Andrews is too busy with his polo ponies to read emails on a Sunday. Enjoy!

13 August 2017, 11:29 | By Tom Winnifrith, The Sheriff of AIM |

Want to Get your cash back on the Paragon Diamonds AIM Casino fraud & bust - legal case now imminent

Investors who have lost £900,000 on the Paragon Diamonds (PRG) fraud and bust are now lined up to sue the hapless Nomad ( Northland with QEs Gerry Beaney and David Hignell overseeing the shambles) as an update from class action litigation arranger Peter Petyt sent this morning, makes clear. However we need more folks who were conned to join the party URGENTLY and for two reasons:

13 August 2017, 11:56 | By Tom Winnifrith, The Sheriff of AIM |

Telit Communications – Mr Fat Katz unusual remuneration arrangements

After today's complete bombshell which shows that Telit (TCM) is a Globo style fraud and thus utterly worthless what follows may be a tad academic. But, none the less, it is yet another Red Flag which we all should have noticed earlier. Reading through the 2016 annual report of Telit it is apparent that Mr Fat Katz, sorry Mr Oozi Cats, had two unusual remuneration arrangements. 

13 August 2017, 13:17 | By Tom Winnifrith, The Sheriff of AIM |

Tom Winnifrith Bearcast Special - the culture of corporate lying as I say GOTCHA to Telit

Following today's bombshell there can be no doubt that Telit Communications (TCM) is toast. Companies that lie and deceive so industrially in the way I demonstrated earlier HERE will always end in tears.  In this podcast I look at the culture of corporate lying and wrongdoing and what it means for you as an investor. I look at rent boys at BP then at Quindell (QPP), Globo (GBO) and of course, in the main, at Telit

13 August 2017, 13:57 | By Tom Winnifrith, The Sheriff of AIM |

Telit bombshell Part 2 - its Distributors are oft on a par with those of Globo

Earlier today I published a bombshell that demonstrated that Telit (TCM) was Globo v2 - that is to say a FRAUD heading for zero in short order.. One of the points that caused Globo to unravel within days were its bogus distributors. I covered that in some detail in Part 1 of this series but here in  part 2 I offer up some graphics to make my point. Distributors account for only 30% of claimed sales but if they are bogus then is anything genuine? It is game over for Telit, the Fat Lady is getting ready... Enjoy what follows...

14 August 2017, 08:03 | By Malcolm Stacey |

Congratulations! - You're a Share Winner In the 68,000 Club

Hello, Share Jigglers. The stats show that more than 68,000 different people logged onto this magnificent website last week. Darren Atwater, who recorded this amazing count is too modest to comment. So allow me to note that 68,000 is the equivalent of the entire population of a very big town.

13 August 2017, 13:27 | By Nigel Somerville |

Ariana – gold price, production news and share price

After my mea culpa of June 20th we have had further news. It has taken a bit of time to digest, but overall it looks positive to me, if rather laced with jam-tomorrow. With the share price finally off its low point of just 1.25p, let’s look through the detail.

13 August 2017, 13:37 | By Evil Banksta |

Obtala: When is an equity Issue not an equity issue?

When the cash still hasn’t arrived! Tom Winnifrith gets upset (see) when I write negative comments about Obtala (OBT) and so I’ve kept quiet for a while, but there comes a point when you just have to ask the question: WTF is going on? Since Tom believes in free speech (as well as Obtala) he - as ever - allows me to write here.

14 August 2017, 08:26 | By David Scott |

Because it is easy - Kennedy on Space, the World today on debt-binging

In a world in which "we do these things because they're easy", the outcome will eventually be very difficult and painful. On September 12, 1962, President John F. Kennedy gave a famous speech announcing the national goal of going to the moon by the end of the decade.  In a memorable line, Kennedy said we would pursue the many elements of the space program "not because they are easy, but because they are hard.Both nationally and internationally the overriding economic philosophy is currently "we do these things because they're easy" and relying on debt to pay today's expenses is at the top of the list. What's easier than using a line of credit to buy whatever you want or need? Nothing's easier than borrowing money, especially at super-low rates of interest.

13 August 2017, 21:03 | By Tom Winnifrith, The Sheriff of AIM |

FT Reports that Telit "parts company" with Oozi Cats - that's spin from the PR & no longer the issue

The Financial Times, always happy to help a company in trouble try to polish a turd with some PR spinning, is reporting that Telit Communications (TCM) is to part company with its founder, 12% shareholder and CEO Oozi Cats on a permanent basis. After our Boston fraudster revelations of last week Oozi had already stepped down pending an investigation by a law firm Cameron McKenna. After our revelations he was toast. But sacking Oozi is not enough after today's bombshells on this website - this is PR spinning and does not address the issue of wholesale fraud at Telit.

14 August 2017, 08:15 | By HotStockRockets |

Another day and another snippet of good news from Kefi Minerals - buy at up to 6p - target 13p+ to sell

Kefi (KEFI) has announced that it has managed to reduce the amount needed to bring the Tulu Kapi project in Ethiopia into production by another $8 million. Following news of the $135 million Oryx funding last month the shortfall Kefi faced was $32 million, it is now just $24 million.

19 August 2017, 11:11 | By Tom Winnifrith |

Tom Winnifrith: Sign up now for new free share tip service FiveFreeShareTips.com

Following complaints from shamed share ramper Roger Lawson, ADVFN has insisted on a raft of new editorial controls on OneFreeShareTip.com. I did not re-start my life five years ago to be told what I could or could not write. I said no and ADVFN boss Clem Chambers has just said that the website will be shut down. So...our hand is forced ... Welcome to fivefreesharetips.com - we hope you join NOW HERE.

19 August 2017, 11:11 | By Pizza Hardman & Hackney Marxist Darren Atwater |

New Bulletin Board Moron of the Week contest - sponsored by some scooter courier shop in Vietnam, #1 distributer for Telit

As seen here, Telit's (TCM) distributers are a, um, diverse lot, including a distributer in Vietnam that appears to be a scooter courier firm. Which is nice, and thank you for sponsoring this week's Bulletin Board Moron search.

18 August 2017, 14:35 | By Tom Winnifrith, The Sheriff of AIM |

Tom Winnifrith Bearcast: Oozi Cats and the FBI & why Telit could well be tits up within weeks

The failure of the LSE to insist that hapless Nomad FinnCap forces Telit (TCM) to bring in a firm like KPMG to conduct a full forensic review will hurt it even more when this company goes tits up as I noted in a letter to Stock Exchange boss Donald Brydon earlier today HERE.  Two sources tell me that the FBI may have bad news for the Boston fraudster Oozi Cats and his Mrs as I explain in this podcast. But the meat of the podcast is explaining why Telit will go tits up and why that could be within six weeks. Enjoy.

18 August 2017, 08:11 | By Tom Winnifrith, The Sheriff of AIM |

A letter to the chairman of the London Stock Exchange - why no independent review of the Telit fraud?

You may remember that at the last AGM of the London Stock Exchange (LSE) its chairman,, Donald Brydon CBE, 'fessed up to being a ShareProphets reader and as we chatted afterwards he came over as a thoroughly decent man. But he has, yet again, been failed by his minions in their handling of the biggest AIM fraud of the year, so far, Telit (TCM). Lowly gofers such as the head of AIM Regulation, the fake Sheriff Mr Marcus Stuttad,  have allowed Telit to avoid any independent scrutiny of its accounts & business practices despite clear evidence of fraud. That has to change and maybe Brydon will push for that. I have sent him a letter.

18 August 2017, 09:24 | By Tom Winnifrith |

Does Neil Woodford really deserve a halo - is Circassia the biggest dog in his funds?

If you read the bent, freebie is our middle name, personal financie columnists in the deadwood press, fund manager Neil Woodford walks on water. I disagree and have noted before, that, maybe, after three dismal years, others are starting to see the light.  But, with assistance from a leading broker, how about we have a real look at the Woodford Patient Capital Trust (WPCT) but also at the sort of dogs Neil ifalls in love with.

17 August 2017, 14:59 | By Tom Winnifrith |

Obtala - shares to more than double: broker VSA: we publish the note

VSA is house broker to Obtala (OBT) so is not impartial. Neither am I as we own a small number of shares following a Dragon's Den pitch as the 2017 UK Investor Show. But the price target suggests real upside and VSA's research team is well regarded and since we happily published an uber-negative piece from Evil Banksta the other day, this offers some balance. VSA has tweaked its forecasts

18 August 2017, 14:46 | By Tom Winnifrith |

Reader Comment of the day - Drunken Sailor unearths local issues for Bushveld

You may remember that ShareProphets poster Drunken Sailor and I were co-defendants in a libel case a couple of years ago ( which we won). Mr sailor is not a drunk and he is a great sleuth when he wants to be. My pressing concerns about uber ramped Bushveld Minerals (BMN) are its balance sheet, but DS has unearthed another major issue which, for some reason, Bushveld has not covered in an RNS. Perhaps it might do so now? Drunken's post merits a wider audience:

18 August 2017, 11:24 | By Cynical Bear |

PCG Entertainment – Lots to like about this funding deal other than…….WHY??

Like Richard Poulden, CEO of PCG Entertainment (PCGE), I have a bit of time for Brian Kinane at Riverfort. As someone who believes in transparency and clear communication, my view is that Brian is trying to bring some of that to the world of small cap funding, particularly where the dreaded phrase “ death spiral” is concerned and there’s a few points here to be applauded. It still doesn’t prevent the obvious question being aimed at Mr Poulden though – WHY RAISE MORE FUNDS NOW?

18 August 2017, 09:14 | By Tom Winnifrith |

Kennedy Ventures - Giving 3.98% of the company to the CEO does have a cost

Some folks think that handing out share options to senior staff is a cost free exercise and b) benefits all shareholders as it incentivizes the board and also aligns their interests with those of stockholders. Bollocks on all counts.

18 August 2017, 14:05 | By Steve Moore |

SRT Marine Systems – order “for the world's biggest single deployment of AIS AtoN”. Wow… Or not…

Following the postponement of a significant contract announced at the end of last month, SRT Marine Systems (SRT) has now announced an “AIS Aids to Navigation Contract”, including that “the order is for the world's biggest single deployment of AIS AtoN”. The world's biggest hey, sounds impressive!…

17 August 2017, 14:03 | By Steve Moore |

Idox – acquisition aids a rating which is “highly attractive”… Or is it?

Having reached more than 75p in May, shares in information management technology and services company Idox (IDOX) declined below 60p early last month before recovering above 65p - then declining towards 60p again. The company is now “pleased to announce that it has acquired… Halarose, a supplier of electoral back office software and services to UK local authorities, for £5.0 million, comprising £3.5 million in cash and £1.5 million in shares” (at 61.5p)…

18 August 2017, 08:08 | By Malcolm Stacey |

Looking for a Possibly Safer Airline Venture? - Well, this Fleet's In

Hello Share Grafters. The congestion in most of our airports will give you the heads-up that air travel is booming. It will continue to do so, especially as more people from developing countries become middle class. But you may still be wary of big airlines.

18 August 2017, 14:59 | By Nigel Somerville, the Deputy Sheriff of AIM |

Advanced Oncotherapy – how’s the cash position? Still a stonking SELL.

After a stack of RNSs earlier this year, it has all gone quiet at AIM-listed Advanced Oncotherapy (AVO) since the announcement of the termination of the Bracknor death-spiral. How’s the cash position?

17 August 2017, 16:05 | By Steve Moore |

Capital Drilling – half-year results include “broadened” uplift in activity, so why are the shares lower still?

Drilling services company Capital Drilling (CAPD) has announced results for the first half of 2017, including that an initial uplift in activity has broadened with an improving outlook in industrial metals and capital markets activities support. Why then are the shares further lower, below 40p, having been above 60p earlier this year?...

19 August 2017, 07:56 | By Steve Moore |

Table of shorted AIM shares - week to 18/08/2017

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...

19 August 2017, 07:32 | By Tom Winnifrith, The Sheriff of AIM |

Telit Communications – how much of a cash guzzler is GainSpan?

In the piss poor results for the six months to 30 June 2017, Telit (TCM) highlighted that it had purchased GainSpan and provided the following rather limited commentary on its contribution to the interim results: