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WPCT
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Woodford Patient Capital Trust: Don’t be Fooled by 'the Discount to NAV' - sell

At 57.3p the shares in Woodford Patient Capital Trust (WPCT) trade at bang on a 30% discount to stated NAV. There has been an enormous amount written about the Woodford fiasco since it started to unfold but a couple of points are worth making...

BMV

Bluebird Merchant Ventures – some permitting delay, BUT…

An Operational and Permitting Update” from Bluebird Merchant Ventures (BMV), including of “delay… due to a change in the Counter Measure Against Natural Disasters Act, which had a section pertaining to mining which potentially allowed for multiple interpretations”

FEVR

Table of shorted AIM shares - week to 05/07/2019

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

WATR

Why Short-Term Punts Nearly Always Annoyingly Turn Into Long-Term Holdings.

Hello, Share Munchers. There was a time when day traders were rather common. And in those days, spreads were no smaller and broker commissions were generally higher. Yet nowadays hardly any armchair tycoons like us end up short-term trading, never mind using a 24-hour turnaround.  

FST

Frontier Smart Technologies – “the prospect of material incremental potential value”… Or not…

Frontier Smart Technologies (FST) has updated including on a transaction which “if negotiations were to be successfully concluded, presents the prospect of material incremental potential value for Frontier, its shareholders (including Science Group) and other stakeholders”. This with Science Group (SAG) now having tabled a 35p per share offer for Frontier – and the shares 35.5p…

Collapsing-Reactor

Redemption Watch: Neil Woodford’s Income Focus Fund off lows

Good news for Neil Woodford today as his Income Focus Fund is off its low point of yesterday. Hurrah! But what about redemptions?

SDX
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SDX Energy– Is Egypt going to save the company?

Earlier, I reviewed  the SDX Energy (SDX) Morocco gas operation and concluded it’s got some serious issues. But what about Egypt and that oil production? And that great future in South Disouq? Well I’m not sure it get much better in Egypt. This is a SELL and run for the hills and don’t look back in my book.

Crime-Scene
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David Lenigas talks bollocks and hopes London can become a natural home for fraudsters

The NEX Lobster pot has new owners and comical David "100 billion barrels of oil" Lenigas has welcomed this on the grounds that the new bosses may ban short selling on the lobster pot. Natch this is total bollocks.

LVCG

Live Company – “pleased to provide a Trading Update… regarding current trading, financial performance and outlook”… Really?

Toy bricks-based shows group Live Company (LVCG) “is pleased to provide a trading update for the six-month period up to 30 June 2019, ahead of the Annual General Meeting… The following comments will be made regarding current trading, financial performance and outlook for the financial year at the opening of the meeting”“Pleased to provide” such information hey – sounds promising…

SDX
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SDX Energy– Morocco high margin gas – Is it more hot air than gas?

Until recently SDX Energy (SDX) looked in great shape with Egypt oil and Morocco high margin gas following the Circle Oil deal and South Disouq gas production due on stream. Then seemingly out of the blue, on 17th May, we were told that the CEO is taking a long walk from a short plank, production forecasts were cut and projects delayed. What happened? I think I can see the answer, and why it could be a while before things change.

Bearcast
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Tom Winnifrith Bearcast: Gosh the Guardian is a poisonous and vile rag

I start with a few words on The Guardian's obituary of Uncle Chris. I look at the deliberate spoof and placing at Mirriad (MIRI) answer your questions on Kefi (KEFI) look at the NEX lobster pot with its new owners and finally return to Anglo African Oil & Gas (AAOG) where a statement about THIS is needed ASAP

SHI
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SIG proving you can't cost cut your way to growth

I think it was after some great storm which had ripped up a few thousand roofs that I first became aware of SIG plc (SHI), which describes itself as a 'leading European supplier of building materials'. A fund manager colleague of mine was all over it like a rash and I remember one old-hand responding at the time 'SIG is easy...you buy at one quid and sell when you have made a decent turn'. Looking at the company's share price chart over the last decade, this advice has been pretty spot on…

Clown_Funeral
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Neil Woodford’s Equity Income Fund – latest dividend shows what a mess he is in

The latest dividend details have been released by Neil Woodford’s Equity Income Fund (WEIF) and apart from getting the xd date wrong the payment has slipped somewhat.

SEQI

With Some Funds 'Safer' than Others, See What You Think about this Sequoia one

Hello, Share Smashers. It’s not often I look at funds rather than individual company plays, but this one looks interesting. The onerously-named Sequoia Economic Infrastructure Income Fund (SEQI) has some rather unusual companies in its portfolio, compared to many funds which run well-known names...

AAOG
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Anglo African Oil & Gas shares tumbling - urgent statement needed on two matters

Having announced a £2.7 million placing at 5.2p and a shockingly bad undeclared related party death spiral to bring in another £5.5 million yesterday shares in Anglo African Oil & Gas (AAOG) are tumbling are are now just 4.4p to sell. An urgent statement on two matters is needed. Firstly:

PURP
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Purplebricks just a few more bearish observations

For a company that will have net current assets of somewhere between SFA and £30 million by Christmas and which will again burn cash this year the valuation of Purplebricks (PURP), £314 million at 103p, is bonkers. In light of that I revisit full year numbers from Wednesday and ask you to consider a stack more red flags.

DIS

Distil – “pleased to provide an update on”… significant volumes & revenue decline?

“Distil plc (AIM: DIS), owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva Vodka, is pleased to provide an update on trading for the first quarter of its current financial year”. However… it intra-day (10:13am) and the shares are currently at 1.20p – approaching 15% lower!...

TOM
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Utah shales have been the death of many companies and I don't see TomCo being an exception

TomCo Energy (TOM) seems to have become very popular all of a sudden with the share price almost doubling in the last few days.

PSN
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Pass the sick bucket! Persimmon goes on a charm offensive

You know I have had a bit of a downer on housebuilders for a good little while now. More recently - back in April – I noted on Persimmon (PSN) that:

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