ShareProphets

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


15 July 2013, 17:28 | By Doc Holiday |

Sareum Holdings – a speculative punt at 1p

AIM listed biotech Sareum (SAR) has announced “Preclinical Development Candidate Selected for Aurora+FLT3 Inhibitor Programme”. As reported in February 2013, recent studies carried out by Sareum sought to differentiate the two most promising programme compounds. Whilst both molecules demonstrate similar efficacy in disease models, the preclinical candidate shows (according to the company) clear benefits in safety models and predicted human exposure, based on a number of in vitro assays.

15 July 2013, 17:15 | By Robert Sutherland Smith |

Lloyd’s begins to look attractive on fundamentals at 68p

Any buying interest I have had in banks has been limited to HSBC (HSBA) and Standard and Chartered  (STAN) whose origins and traditions permitted to pass through the great early twenty first century banking crisis without the ignominy and pain of being bailed out by society at large. Once bitten twice shy, has been my watchword on Lloyds (LLOY) and RBS (RBS).

15 July 2013, 17:05 | By Steve Moore |

Access Intelligence - interim results - let's not ignore all those costs shall we?

AIM-listed, corporate governance, risk and compliance software-as-a-service supplier Access Intelligence (ACC) has announced an adjusted (excluding non-cash amortisation and share option charges) pre-tax profit of £61,000 for its first half year ended 31st May 2013, up from a comparative prior year period £33,000. On revenue of £4.18 million (up 6.5%), this may not look attractive but the company’s note that during the period “we have expensed £756,000 (H1 2012: £439,000) and capitalised software development costs of £727,000 (H1 2012: £284,000)” needs to be considered…

15 July 2013, 14:00 | By Steve Moore |

Gulf Keystone Petroleum - too much hype and bluster from the boardroom?

AIM-listed, Kurdistan-focused, oil and gas hopeful Gulf Keystone Petroleum (GKP) has announced a unanimous board recommendation that shareholders vote against the election to its board of all four candidates proposed by shareholder M&G... It’s statement – see HERE – raises some valid points but also includes various hype and bluster...

15 July 2013, 08:50 | By Tom Winnifrith |

SocialGo almost SocialGone but the zombie never dies

Floated on the Cesspit in 2004 new media enterprise SocialGo (SGO) has managed to rack up losses of almost £20 million – funded by placing after placing – during its nine years on AIM. As recently as June 7th as it announced (dire) 2012 results the company was still “talking the talk” but today the joke has moved on a step as this has become SocialGone, to be renamed Tavistock Investments. Fear not there will be many more chances to lose money on this one, the stock is at least 90% overvalued.

14 July 2013, 18:14 | By Tom Winnifrith |

The Great Small Cap Mining Stock Value Destruction explained by Rick Rule

Rick Rule, Chairman of Sprott Global Resource Investments Ltd., has invested in natural resource projects for nearly four decades. He recently gave an interview explaining why small cap mining stocks have been such a dire investment. It is a truly devastating indictment of the sector.

So what do you need to know about investing in junior exploration projects?

12 July 2013, 19:03 | By Steve Moore |

Invensys plc - "indicative offer" - I was right!

Back in March I commented on FTSE-250 provider of industrial software, systems and control equipment, Invensys plc (ISYS), concluding, with the shares at 366p, that “though there is macroeconomic risk, Invensys looks a solid large-cap investment proposition at current levels, with potential future takeover upside” – see HERE. The company has today announced that it has received an indicative offer from Schneider Electric SA equating to 505p per share...

12 July 2013, 16:47 | By Steve Moore |

Alliance Pharma: Buy?

AIM-listed speciality pharmaceutical company Alliance Pharma (APH) has announced “trading in the first half of the year has been in line with management’s expectations” and that it “continues to explore a number of acquisition opportunities and remains confident of the outlook for the full year”. So is it a buy. Pushed for an answer I’d say yes.

12 July 2013, 16:39 | By Steve Moore |

Robert Walters - 2nd quarter 2013 trading update: a 2014 PE of 19? Really?

Fully-listed, international specialist recruitment consultancy, Robert Walters plc (RWA) has announced a 7% increase in Net Fee Income for its second quarter ended 30th June 2013 compared to the corresponding 2012 period and a 4% first quarter increase, whilst adding it “continues to trade in line with expectations”. The update saw the company’s house broker, Investec, note “there are certainly signs that market conditions are stable, if not improving”...

12 July 2013, 16:39 | By Staff Writer |

Quintain Estates at 87.5p – NAV is 104p and discount could close: Edison Starts coverage

Edison research analyst Roger Leboff is a bit of a weirdo but no fool. After all he work with and remains friends with Mark Slater & Tom Winnifrith many years ago. Leboff has today initiated his coverage of property group Quintain Estates (QED) in upbeat fashion.

 

12 July 2013, 13:04 | By Staff Writer |

Chaarat Gold: At 8p buy with 30p target – Numis

Top broker Numis has recent completed a site visit to the operations of Charaat Gold (CGH) and concludes that shares in the AIM listed miner are a buy at 8p with a target price of 30p. Its report is a detailed 16 page note.

12 July 2013, 12:28 | By Steve Moore |

Oxford Instruments - reassuring trading update

In my previous analysis of Oxford Instruments (OXIG), the first technology business to be spun out from Oxford University over fifty years ago and now a FTSE-250 business designing, supplying and supporting high-technology tools and systems for the research and industrial sectors, I noted that the company had some cyclical exposure (particularly through its ‘industrial products’ business) and that the rating looked to leave precious little room for any disappointment. That was in April when the shares were trading at 1600p...

12 July 2013, 10:45 | By Ross Norman |

Dwindling Gold Inventories and the Rising Sentiments in Gold

The U.S. Comex gold futures surged 2.73 percent in the past two days to $1,279.90 on Thursday while the dollar index suffered a loss of 2.17 percent. The CRB Commodities index, the S&P 500 index, and the Euro Stoxx 50 index have rebounded 1.01 percent, 1.37 percent and 0.64 percent respectively on Wednesday and Thursday. The U.S. 10-year government bond yield rallied about 6bp in the same period.

12 July 2013, 10:16 | By Tom Winnifrith |

Patagonia Gold – Tell the Fat cat/ Greedy Pig Directors to Bugger Off – Vote No to option repricing

This is a shocker. The directors of Patagonia Gold are well paid. They have significant equity in the company but they want more. They want shareholders to reprice their share options in order to “incentivise” them. This has to be passed at an AGM. Shareholders should tell these fat swine to bugger off and vote no. And here is why.

12 July 2013, 08:52 | By Tom Winnifrith |

Lombard Risk Management placing – this is why private investors vomit at the mention of AIM

John Wisbey the CEO of AIM listed compliance software group Lombard Risk Management (LRM) is a good friend of mine. Or at least he was - he may decide that he is not anymore after he reads this. Recent events at his firm show private investors once again being screwed on AIM. John is a good bloke & Lombard a good company but this is why mug punters are turned off listed markets. Here goes.

11 July 2013, 21:12 | By Robert Sutherland Smith |

GKN attractive at 325p

There are a number of reasons for investors to take a positive interest in GKN (GKN).

11 July 2013, 20:46 | By Doc Holiday |

Scancell Holdings a recovery buy at 27p

The other day Scancell (SCLP) saw its market value halve as it announced a conditional Firm Placing of 20,000,000 new Ordinary Shares at 22.5 pence each to raise gross funds of approximately £4.5 million. Its new backers are various EIS and VCT funds managed by Calculus Capital. In addition, and in order to provide Qualifying Shareholders with an opportunity to subscribe for new Ordinary Shares at the same price, the Company announced an Open Offer to raise up to a further £2.0 million (before expenses).

11 July 2013, 16:50 | By Steve Moore |

InternetQ - half-year trading update

AIM-listed provider of mobile marketing and digital entertainment for mobile network operators and brands, InternetQ (INTQ) has announced “revenue and EBITDA are expected to be in line with market expectations for the six months ended 30 June 2013”, driven by record levels of new business within the mobile marketing division and increased levels of subscriber growth from digital content platform, Akazoo...

11 July 2013, 14:07 | By Steve Moore |

Anglo Asian Mining - 2nd quarter 2013 update

AIM listed gold producer in Azerbaijan, Anglo Asian Mining (AAZ) has announced second quarter gold production of 8,912 ounces and that it completed gold sales of 5,505 ounces (at an average of $1,438 per ounce) in the period...

11 July 2013, 07:26 | By Tom Winnifrith |

Rick Rule – classic gold & silver Q&A

Rick Rule is a legendary fund manager within Eric Sprott’s group – the world’s leading gold and silver experts. He gave this interview the other day in a client call in. It really is great stuff. What he says about management quality in this sector is understatement of the year.

What’s going to happen with gold and silver?

19 minutes ago | 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.

6 days ago | 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.... 

6 days ago | 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.

7 days ago | By Nigel Somerville, the Deputy Sheriff of AIM |

Tern announces two fundraisings – how do they compare?

After-hours yesterday AIM-listed Tern plc (TERN) announced two fundraisings – one via Primary Bid for its own coffers and the other a proposed offering via US broker US Capital Partners for its investee company Device Authority. Let’s compare the two.

7 days ago | By Tom Winnifrith, The Sheriff of AIM |

Telit Communications: what the bears saw, it's about the balance sheet stupid

After my earlier story about the covenant breach which is, I am increasingly sure, a smoking gun, I explore some trends shown by the financial statements of Telit Communications (TCM) that may have been some the red flags that resulted in hedge funds making Telit the most heavily shorted AIM company - this is all about the balance sheet. It also highlights why some type of fund raise, equity or debt, was almost inevitable in May - without it the lights would have been switched off by now.

6 days ago | 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.

6 days ago | 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.

6 days ago | 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.

6 days ago | 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!

6 days ago | 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:

6 days ago | 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. 

6 days ago | 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

6 days ago | 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...

5 days ago | 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.

6 days ago | 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.

6 days ago | 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.

5 days ago | 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.

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: