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Poor Phorm (PHRM) …it will have run out of cash within six weeks and so unless it can get away yet another fund raise it will be toast by Easter. But before we look forward to that, I have a number of questions for Phorm and its former Nomad Liberum about events back in 2012.
Chris Fraser, CEO of Sirius Minerals (SXX), will no doubt be a very happy man this morning. Before yesterday’s open, Sirius announced a proposed placing of £30million. Over the course of the day this proved to be the hottest ticket in town, for no sooner had the market closed then Sirius proudly released its second update declaring that it had managed to raise £43million at 12p. So is Sirius now a good bet for investors?
The U.S. Comex gold futures rebounded 1.04% in the past two days, ending above $1,350 on Thursday. The S&P 500 Index jumped almost one percent this week. The Euro Stoxx 50 Index rebounded 0.26% in the past two days although it has declined 0.15% for the week. The biggest surprises this year have been the surge in the commodities and the gold prices with the CRB Commodities Index jumping almost ten percent this year and the gold futures surging 12.4%.
I noted that AIM Cesspit posterboy Phorm (PHRM) is now “in sights” and as such, as is now traditional, a special commemorative T-shirt has been designed and is available for immediate purchase. I recommend the red version.
Shares in Imagination Technologies (IMG) lost more than 4.5% yesterday, to 180p, on the back of an update that “unit shipments have been behind expectations”. Having been vindicated in the face of some bulletin board derision after questioning whether investors had envisaged the uncertainties when the shares traded at 550p less than a year ago (see HERE), what is the outlook now?
I have always taken the view that the route to success in stock picking is ‘90% perspiration and 10% inspiration’. Timing and honesty matter as well. Bringing all this together how are my eight tips from December and January looking?
Hello Share Twiddlers: Darn it! I missed the boat – again. You may remember my saying I was going to sell Dragon Oil (DGO) and buy Aggreko (AGK). The reasoning was that Aggreko loan out portable generators.
Greek software firm Globo (GBO) has today announced that it fired its auditors six weeks ago and has a new firm in place. For a firm whose accounts have come under some scrutiny (see HERE) that might raise a few eyebrows but when you look at the exact timeline you will be truly kebabbed.
Bear raider Evil Knievil is back on line and his phone is again working after several hours without power today. Mr Knievil denies rumours that having taken a loss on his ill-fated, and now terminated, adventure on going long of Phorm (PHRM) that he was cut off for non-payment.
Dave Reeves, managing director and significant shareholder of West African iron and manganese play Ferrex (FRX), is toasting encouraging mapping results from the company’s 82 per cent-owned iron ore project at Mebaga in northern Gabon. Key elements in the company’s growth and development strategy are also coming together and in Togo and South Africa. If successful, these could transform AIM-quoted Ferrex, whose shares at 2p have doubled since last summer but remain below their 2.6p 52-week high and 3p float price of 2011.
Begbies Traynor Group (BEG), the UK's leading independent business recovery and insolvency practitioner, has updated that “increased activity levels in the typically busier winter months and the continued benefit of prior year cost savings, leave the group well placed to deliver the board's expectations for the year as a whole”. With the shares having recovered from falling to sub 30p in June 2013 to a current 42p, what’s the outlook from here?
To London yesterday for an early morning breakfast with Paul Atherley of Leyshon Energy (LEN) which at 5p trades at net cash. So is this going nowhere? Far from it. The Q&A follows.
Cripes that seems a tad on the ambitious side does it not? Okay VSA is a retained broker to Kalimantan (KLG) but does analyst Paul Renken really reckon that the shares, now 1.05p, are worth 4.8p. It seems he does and Renken is a sensible fellow and has today published an incredibly detailed 15 page report arguing his case.
KEFI Minerals (KEFI) has today announced further drill results and an increase in ore resources at Jibal Qutman in Saudi Arabia. The new JORC compliant resource stands at 16.7Mt grading 0.92g/t and contains 495,194oz of gold. Of this, 14.4Mt grading 0.94g/t containing 435k oz of gold is in the Indicated category with the balance being Inferred.
I had a look at Phorm (PHRM) the other day, a trip down memory lane as I last followed it in 2008 when it rose to and collapsed from £35 a share. This was during a very brief period of fame and notoriety when the company was attempting to persuade UK ISPs, BT being the most prominent, to adopt its controversial and invasive internet advertising technology. No UK ISPs did end up going with Phorm in the end owing to the questionable legality of its practices and the unwelcome publicity that it attracted. Hence the collapse.
This financial writing business can be a funny old game. This morning I started to write a fairly pessimistic piece on AIM-listed Goldstone Resources (GRL), after I read about comments made by Randgold Resources’ (RRS) Chief Executive Mark Bristow concerning his company’s Massawa gold project in Senegal. By the time I had got to the end of my downbeat assessment I had actually completely changed my mind. What he said could be very bullish...
As ever the competition to be awarded the title of Bulletin Board Moron of the Week is a really bitter one. There are just so many possible winners. But over on the ADVFN Phorm (PHRM) Board Pengipete is emerging as a star BB Moron of the age. It is quite possible that for this entry he might just win the coveted “BB Moron of the Year award” at the end of season.
I see that a broker (sorry, ‘investment banker’) has some questions about the strength of the AstraZeneca’s (AZN) pipeline of new products, which has improved significantly over the last year or so.
Hello Share Fans: I am rather aware that my modest pieces are somewhat different from the writings of sharp analysis on this fine website. I humbly advise you to read them differently, too.
One of the problems that you see time again as far as private investors and traders are concerned is that they are drawn to the very stocks and markets which are the most difficult to call and perplexing to understand, even at the best of times.
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