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Diversified Energy - new Short Dossier from SnowCap, this is a £500m potential zero
As you know Lucian Miers is short and I have been a bear for almost five years, even getting the FRC to rap the knuckles of Diversified Energy (DEC) for dodgy accounting. The latest bear dossier to come out is a good read and reinforces my view that this will end in tears for the bulls and is a zero. Enjoy.- By Tom Winnifrith |
- 23 January 2024, 14:28 |
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Tom Winnifrith Bearcast: Diversified Energy can be a zero ( new bear dossier) & why Pete Brailey and the BBMs are being played
I start with a big day for Joshua. I guess if he does get into expensive King's Chester any thoughts of imminent retirement are off the table. Then it is Peter Brailey and Serinus (SENX), Diversified Energy (DEC), Vast Resources (VAST) and NightCap (NGHT) where, in both cases, AIM Regulation must act, Argo Blockchain (ARB), still a short at 14p, and Supply&ME Capital (SYME) and doing the granular maths on when, not if it is a zero- By Tom Winnifrith |
- 23 January 2024, 14:23 |
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Ilika – interims. Er, what about the grants and cash outlooks that now dare not speak their names?…
Previously writing on company which states it is “a pioneer in solid-state battery technology” Ilika (IKA), in November with the shares at 44.5p I reviewed why it was trading update “Operating Highlights” before “Financial Highlights” and concluded avoid/sell. Now half-year results see CEO Graeme Purdy emphasising “we were delighted to successfully convert our memorandum of understanding with Cirtec into a ten-year licensing arrangement” and “we have proved that our batteries stand to deliver the clear benefits of solid-state architecture, and from here we will continue to pursue further energy and power density milestones”. So what of a share price currently slightly further down in response to 36p?
- By Steve Moore |
- 23 January 2024, 13:25 |
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Pete Brailey takes position in Serinus Energy - is he right that it’s a trading buy?
The man who predicted negative oil is once again a big speaker at Sharestock this year on September 7 where the line-up is becoming more complete as you can see HERE. As we discuss that Peter says that he has taken a position in Serinus Energy (SENX) as a trading buy at 2.75p. Is he mad? Well yes those that know him well would say that but he might be correct on this occasion.- By Tom Winnifrith |
- 23 January 2024, 12:21 |
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Letter to AIM Regulation – how on earth has Vast Resources not breached AIM Rule 11 or did it simply lie?
I flagged up earlier that Vast Resources had told a monster whopper on October 6 on the occasion of its last placing before today. There is one possible get out of jail card on the lying: that it did not lie but merely breached AIM Rule 11. I have written to the Oxymorons as either way this should be a hanging offence, with extra strength rope needed for this particular Nomad, especially after luncheon.- By Tom Winnifrith |
- 23 January 2024, 12:01 |
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Staffline – “pleased to report a robust trading and cashflow performance”. What about the significant forward forecast cuts though?!…
Previously writing on recruitment and training group Staffline (STAF), in June with the shares at 35p I concluded I was cautious despite a suggested modest prospective earnings multiple considering macroeconomic headwinds, competitive industry dynamics and net debt. A trading update today is headlined “Robust performance delivered full year underlying operating profit in-line with market expectations. Net cash (pre-IFRS 16) significantly ahead of market expectations maintaining ongoing balance sheet strength that underpinned £5 million share buyback programme in 2023”. So what of the shares currently below 23p – including a further more than 7% lower on the back of the trading update?
- By Steve Moore |
- 23 January 2024, 11:04 |
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JustGiving doubles down on its lies – email received, the scandal is now £37.4 million!
Yesterday I revealed how JustGiving almost forces folks to make a voluntary “tip” claiming that the cash will go to help charities raise money/improve its service when in fact the vast majority of it is paid out in dividends, £31 million in the last reported year. Amazingly the FCA regulates the charity platform so appears to sanction this deceit. Today I have received an email from Just Giving…- By Tom Winnifrith |
- 23 January 2024, 10:52 |
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Vast Resources: barefaced lying sanctioned by "Fatty" as it places yet again
This was the company that said it needed to do a 100 for 1 share consolidation so that it could pay a dividend. Natch it has not paid a dividend in the 33 months since but has placed numerous times and its shares have now collapsed by 98% since the consolidation having been 99% down before it. The management of Vast Resources (VAST) are simply liars. Today the company is exposed again in the most blatant way. Why on earth the Oxymorons at AIM Regulation and hapless Nomad Roland “Fatty” Cornish do not come on this farce defies belied. Wind back to 6 October and a placing to raise £1,819,350 at 0.195p. The company stated:- By Tom Winnifrith, the Sheriff of AIM |
- 23 January 2024, 10:02 |
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The Tingo fraud, it now admits that Deloitte quits – but it’s a bit late is it not?
The Department of Justice is still trying to get its hands on Dozy Mmobousi who faces a 45 year jail term when found guilty of fraud. Others were part of that fraud says the DoJ and may still have their collars felt. Shares in Chris Cleverly’s Tingo (US:TIO) shares are suspended and now it has filed with the SEC that its auditors Deloitte resigned on 16 January. But why only now? I wrote twice to head of regulation Jen Knickerbocker HERE and global chair Anna Marks HERE more than six months ago.- By Tom Winnifrith |
- 23 January 2024, 08:24 |
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Virgin Wines UK – trading update argues “a positive performance”, but how positive really?…
Describing itself as one of the UK's largest direct-to-consumer online wine retailers, Virgin Wines UK (VINO) states that it “is pleased to announce a trading update for the six months ended 29 December 2023, with a positive performance that saw year-on-year revenue growth, a significant increase in profitability, strong cash generation and excellent efficiencies in its operational performance”. How ‘positive’ a performance was it from a 38p share price?- By Steve Moore |
- 22 January 2024, 16:29 |
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Tom Winnifrith Bearcast: #GowokegoBroke, the comical demise of Sports Illustrated
I start with sports Illustrated, a hilarious tale of pampered and silly Ivy League snowflakes telling we older men how to think and behave, then Nightcap (NGHT) and the March 25 takedown day, More Aquisitions (TMOR) and its new sprightly young directors, Dukemount Energy (DKE), yet another disaster from Brown Envelope man, and ITM Power (ITM)- By Tom Winnifrith |
- 22 January 2024, 15:53 |
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SDI Group – “Directorate Change – Appointment of New CEO”. What about the exit of now-previous CEO though?…
Digital imaging and sensing and control-related products group SDI (SDI) has issued an announcement titled “Directorate Change – Appointment of New CEO”. What about exit of previous CEO though?, what’s the ‘directorate change’ detail?- By Steve Moore |
- 22 January 2024, 15:43 |
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Gold to peak at $2,300 this year, Palladium to dump again: Ross Norman’s precious metals forecasts
Ross used to run Sharps Pixley and now runs MetalsDaily.com. He is a thoroughly goo bloke and really knows his onions. What follows are his precious metals forecasts for 2024 and unlike some f the more enthusiastic commentators, Nigel you know who I am talking about he is bullish but in a sober and considered way. Certainly, there are no predictions of the sort of fireworks needed to get the juniors racing away. The great man opines:- By Tom Winnifrith |
- 22 January 2024, 13:52 |
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Trifast – I having previously cautioned on the H2 weighting, what of a latest “Trading Update”?…
Previously writing on industrial fastenings and components company Trifast (TRI), in October with the shares down to 74p I noted concerns were elevated here as it’s already “as previously guided, the financial year ending 31 March 2024 will be weighted to the second half… Current market consensus compiled by the company for the year ending 31 March 2024 is an underlying profit before tax of c.£12.0m” and that, at a still above £100 million market capitalisation, to avoid. What then now of a latest “Trading Update”?
- By Steve Moore |
- 22 January 2024, 13:37 |
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JustGiving: is the FCA really regulating what appears to be outright £31 million pound deception?
My daughter Olaf is doing a charity swim on January 27 outside on Parliament Hill in London to raise money for the homeless charity Crisis. Well done to the little Trustafarian (mother’s side) and I have made a small donation. You too can do so HERE if you wish. I see that my pal Evil Banksta has already donated a small amount of the money made for him by Adam Reynolds and the blunderers at Belluscura (BELL). Thanks again Adam you are supporting so much. But then the platform Just Giving tried to stiff me with a £3 donation to it on top of the score that I had donated. This really stinks.- By Tom Winnifrith |
- 22 January 2024, 12:49 |
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Letter to AIM Regulation: It must act against Nightcap NOW
Over the weekend I exposed some true bombshells about AIM listed Nightcap (NGHT) led by Dragon’s Den “star” Sarah Willingham. The company and its hapless adviser Nomad Allenby has yet to respond either via an RNS or directly to me. The whistleblower who is my source says they have more to come and so serious are the matters raised that silence is just not an option. I have written to the Oxymorons at AIM Regulation- By Tom Winnifrith, the Sheriff of AIM |
- 22 January 2024, 11:18 |
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Two Ex-smokers on Chill Brands...
Lucian: As a vaper, I watched with interest the excellent 4-part Netflix documentary “The Big Vape” about the spectacular rise and fall of the leading brand JUUL. I thoroughly recommend it to vapers and non-vapers alike. It is a fascinating insight into the workings of Silicon Valley. Anyway, it got me thinking about Chill Brands (CHLL), whose only product right now seems to be a nicotine-free disposable vape called Chill Zero. Last week I listened to a recent interview with the CEO and was struck by how unrealistic the business proposition seemed to be.- By Lucian Miers & Tom Winnifrith |
- 22 January 2024, 09:04 |
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The View From The Montana Log-Cabin As Gold Bounces Again Near $2,000
I had hoped that Gold and its miners were bouncing last weekend, but was wrong. It dribbled on down to just above $2000 before bouncing to close the week at $2,029, down from last week’s mark of $2049.- By Nigel Somerville |
- 22 January 2024, 08:39 |
Is There a Doctor in the House? Yes, and for this Outstanding Outfit, a Lot More Besides
Hello Share Punters. Oh, the woes of the long-distance share tipper! I spent much effort researching a company which, at the last minute, I discovered slightly conflicted with my ethical principals. It’s a pity because it might have made you some money, but if you want to hear recommendations where taking boodle is the one and only benefit then I humbly suggest you might try someone else.
- By Malcolm Stacey |
- 22 January 2024, 08:12 |
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Kefi Gold & Copper – Saudi Arabia joint venture moves to make further progress, Strong Buy
Kefi Gold & Copper (KEFI) has issued an update on its, "GMCO", joint venture in Saudi Arabia with the activity there meaning “a substantial pipeline of results to report, which it will release as appropriate during the current quarter and beyond”.- By Hotstockrockets |
- 21 January 2024, 17:15 |