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ShareProphets AIM-China Filthy Forty play China New Energy (CNEL) put out its full year numbers for 2017 at 7am on deadline day, last Friday. It boasted significantly increased revenues and profits, so all’s well? Er…
Purplebricks (PURP) is due to report its results for the year to April 30th next Thursday and has promised more detailed guidance than that which was given at the time of the Axel Springer investment in March.
At times in the lower end of the natural resources sector it seems as though the worse the company is, the more money private investors are prepared to put into it.
I’ve been following the Kibo Mining (KIBO) story for a while now watching Louis Coetzee continuing to fail to deliver the PPA at its flagship Mbeya power project but Friday’s announcement raised my eyebrows slightly higher than normal. In my view, it is either securities fraud or merely epitomises all that is wrong about disclosures and announcements and the roles of the various advisers at the lower end of the market.
I wondered last weekend whether we might see a casualty amongst my portfolio of five slam-dunk sells for 2018 as the reporting deadline on Friday approached. Sadly all outstanding numbers were forthcoming, so no ouzo for me. But the reported numbers were staggeringly awful.
I'm certain that all of you have today risen your morning tea in a toast to my homeland, Canada, on its 151st anniversary of existance.
Another day and another expose of the failing Australian business of Purplebricks (PURP) appears. Remember that bulls need Purplebricks Oz to switch from heavy losses to profit if forecasts are to be met. It just does not look likely. In the latest expose from the AFR we learn:
San Leon Energy (SLE) has announced results from the 2017 calendar year, “when the company faced significant challenges” – but emphasising it’s now able to focus further on yielding value from “a world-class asset with substantial reserves and a CPR target gross production rate of over 100,000 bopd” – (it’s indirect economic interest in) OML 18, onshore Nigeria…
Tomorrow is my longest training walk yet for the Woodlarks 32 mile charity walk with Brokerman Dan. I plan to set off at 5 AM on a 26 mile trek. Think of my utter pain in this awful heat and please give £10 to a great cause HERE. I then look at the recent Radio 4 programme on shorting which was sprinkled with pompous and half-witted comments from ShareSoc. They are naive and have it all wrong and I explain why. Then I look at whether share dealing should be ethical - ref Dave Lenigas and his ramping of UK Oil & Gas (UKOG) - should we all get on board? Finally I look at the IPO of Amigo which I find revolting at every level.
Last week I wrote about how IQE’s (IQE) latest annual filing revealed that were it not for one major customer, IQE’s business would have gone pretty much nowhere. Therefore all the excitement and value increase appears heavily reliant on that one major new customer. Today we highlight how at its recent AGM, on 4 June, IQE provided guidance of a 40:60 revenue split for H1:H2 2018, indicating either a slowdown or (as some may hope) merely a deferring of growth.
Steve Moore commented HERE on press reports of potential boardroom strife at AIM-listed Tungsten (TUNG). It now looks as though the gloves are off, as last night at no-one-is watching o’clock (4.32pm) on a Friday evening the company announced it had received a General Meeting requisition with proposals to boot out the Chairman, CEO and two NEDs. I reckon we could be in for a treat on the entertainment front!
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2017 and thus far in 2018 (by net short position %) - and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
I warned on Thursday that if you are still holding, one might be tempted to compare the benefits of that versus a bag of crisps. Following a flow of dire news, on Friday ShareProphets AIM-China Filthy Forty play Origo Partners (OPP) issued the most damning statements in its FY17 accounts, and the shares crashed by a horrifying 64%. It is truly horrifying. Step forward the investment adviser Origo Advisers (which more-or-less doubled as the company’s previous management), take a very special bow, please, Auditor BDO in Hong Kong. Take a turn, please, former Nomad Smith & Williamson. Normally at times like this I would be reaching for some of Tom Winnifrith’s Ouzo, but I can’t seem to let the sick-bucket go.
Hello Share Flingers. Against the flow, and my learned friend David Scott, I think shares will continue to rise. I’ve recently said that we should always be prepared for a crash because common sense says there will be one eventually. But sense is rarer than budgie teeth in Shareland where one philosophy over-reaches all others.
I start by wishing my daughter Olaf a happy 17th although she will not be listening and indeed wants me to retire so I stop embarrassing her by expressing my support for Trump, reservations about abortion or other crimes against the new world of 2018. It was Olaf's birth all those year ago at 1lb 4oz that got me involved with Woodlarks as I explain. This weekend my training walk will be 26 miles in this scorching heat. Think of me and if Olaf can spare a tenner so can you - donate HERE. In the podcast I explain why Julie Meyer must be stopped it is not just investors that need protecting. I cover FastJet (FJET), Action Hotels (ACHG), Akers Biosciences (AKR), Management Consulting (MMC), UK Oil & Gas (UKOG), Angus Energy (ANGS) and Amur Minerals (AMC).
I’ve previously noted on Management Consulting Group (MMC) it an ‘operational improvement implementer’ which needs some of its own medicine! and most recently in November ‘below expectations’ trading warning less than 3 months after “well placed” interims. The latter saw the shares heading down towards 6p, though I concluded that 'it remains that I’d want much more than the likes of “positive progress” and level of proposals “has now started to improve” here to be convinced of a turnaround. Currently still a bargepole stock'. Now a Proposed Placing and Open Offer announcement…
You would have thought that after being caught ramping UK Oil & Gas (UKOG) where he is a paid consultant in the most shameless fashion and with statements he could not verify as a bailout placing got underway, as exposed here, Big Dave would STFU. But now...he has no shame and is tweeting like a dervish once again as you can see below. In the US this sort of behaviour by "consultants" would be dealt with very firmly indeed but this is the AIM Casino.
As I write, the whore blogger Malcolm “Fat Bastard” Graham Wood is taking dictation from his master Zaza as to why today’s results from Frontera Resources (FRR) point to a bright future. Yes Zaza, whatever you say sir, I shall write up my “Independent” commentary now. And sir, I notice that my invoices for February onwards have not been paid: perhaps you might put some brown envelopes in the post? Of course calendar 2017 numbers, snuck out on the last day possible, were shite.
Ariana Resources (AAU) says that it “is pleased to announce a Joint Ore Reserves Committee Exploration Target for its Salinbas gold project… of up to 2.7Moz gold and 16.1Moz silver established in the Salinbas area, excluding current JORC Indicated and Inferred Resources of c.1Moz gold”. So what is such an ‘exploration target’ and what does it mean here?
As you may remember the lyin’, tax evading fraudster Julie “lingerie on expenses” Meyer MBE, currently avoiding the Police in Malta where she faces criminal charges, has tried to rebrand by dropping references to Ariadne ( her main ponzi empire) and promoting the name of Viva Capital LLP. Uh Oh – a new problemo has emerged. Oh dear Julie…it never rains…..
Amit Ben Haim does not like to be at the helm when one of his enterprises goes belly up. He always quits and leaves a gent called Massimo Ventimiglia to pick up the pieces. And hence we come to Cloudtag (CTAG) subsidiary CT Technology Services.
Thank God for small mercies. Now we can start a rota on who has to listen to Brokerman Dan blathering on about blockchain and what a frigging genius Clem Chambers is. For now there is a third rogue blogger joining us as we walk the 32 miles from Horse Hill to Woodlarks on July 28. He is a man who knows Horse Hill well…
Maybe Julie "Lingerie on expenses" Meyer MBE thought Winnileaks was on holiday. Winnileaks never rests. Our latest document shows Julie playing fast and loose with the truth as she ballted to avoid facing justice against the Start Up Loans Company.
It is not as if Optibiotix (OPTI) management do not put their money where their mouth is. Just a few days ago chairman Neil Davidson splashed out £150,000 buying shares at 71p. Now we have news of an option package for three senior staffers including Davidson. No options….one way bet… nooooooooooooo you scream. No. Read the RNS.
Shares in Westminster Group (WSG), run by loathsome ex Tory MP slug, Tony “fatso” Baldry of 3DM infamy have slipped again to just 9.2p to sell. Those who ponied up £750,000 in the last bailout placing at 22p, less than six months ago, must by now realise that backing a Baldry run company is financial hara kiri. But things are going to get worse. You see the money's almost gone....
Hello Share Chewers. Small pioneering medical companies are a favourite of mine. As finding a cure for a condition which is so often overlooked by the giant pharmas has to be a good thing. Both from the point of view of patients and that of shareholders.
The extract from the Land Registry below is in the public domain and looks like a huge misunderstanding to me. Worthington (WRN) may be in administration but it seems the FCA have a few questions for its former boss Doug Ware. I am sure there is a perfectly innocent explanation for all of this.
Oh dear, I sense that in my adopted home of Greece there are a few folks heading for the slammer in connection with the Folli Follie Fraud which we helped Gabriel Grego to expose on this website. It seems like just the other day that burly security guards were chasing me away from its HQ North of Athens, as you can see HERE.
Maybe Julie "Lingerie on expenses" Meyer MBE has other problems to consider? Take it from me that she does. There is more to follow, the wheels are a turning. But perhaps she or her uber expensive bully boy lawyer Julian Pike might answer a simple question for me. It relates to ASX listed Norwood.
Amino Technologies (AMO) has announced results for its half year ended 31st May 2018, emphasising “strong revenue visibility and pipeline coverage - full year expectations confirmed” - the numbers though showing adjusted earnings approaching 60% lower than in the corresponding half in the prior year on revenue 17% lower at $41.2 million. Hmmm…
Not much has got me fired up so far this week looking at the various regulatory disclosures but I did notice an article in the newspaper that purports to be America's leading financial journal yesterday with the worrisome headline of 'Barclays Mulls U.S. Push as Activist Looms...Executives debate whether greater exposure to the U.S. retail market could both generate revenues and fund its U.S. operations more efficiently'…
I’ve touched on Immunocore a few times in passing as it one of the largest holdings in Woodford Patient Capital Trust (WPCT) as well as being the largest investment made by Dublin-listed Malin Corporation, of which Woodford is the largest shareholder, obvs! Well, it looks like it’s not a particularly happy ship and I wonder whether a (further) devaluation is required?
In this week's video update from Palisade Capital and the only technical analyst we give any time to at all, Jordan Roy Burne discusses where the market is and why it failed to break-out. Traders were anticipating a breakout, and many are likely disappointed. The dollar is consolidating and now above the long-term moving average. Concerning GDX and GDX.J, things are still pretty dull. Jordan warns that “Silver is also on the verge of breaking down out of a triangle.”
Previously writing on Cloudcall (CALL) it was 2017 results, emphasises significant reduction in cash burn… but is there?, with the shares more than 6% lower, towards 165p. Today a half-year trading update – and the shares currently down around 10%, at circa 140p…
Shares in Image Scan Holdings (IGE) reached approaching 13p last year and were 6p+ following half-year results in April before sliding in the last month, last closing at 5.5p. Now an “Acquisition and Proposed Placing” announcement…
Previously writing on SRT Marine Systems (SRT) in April, I concluded with previous delays and a current market cap of more than £30 million, I await to see evidence it is actually on-track as well as the cash flow and the balance sheet. Today a “SE Asia Contract Change” announcement…
I commented on the lunatic management at Premier Foods (PFD) a couple of weeks ago HERE, who, after turning down a perfectly good bid, are circling the wagons against activist investors who want to help to start to create value by booting out the CEO. I could not agree more with their assertion that the CEO's tenure is 'five year of failure'...
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