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Tom
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UPDATE 2 Tom Winnifrith: Less than three months to Sharestock now only 22 seats left: book now!

This may well be the final event I put on: Sharestock 2025 is on September 6 at my home between Chester and Wrexham and I really hope to see you there, you can book HERE, as of today we are more than two thirds booked out. My own talk may or may not be a double act with Mr X. If I am going out I am going out with a bang.
VRS
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GOTCHA! Vesarien fesses, ouzo for the Sheriff!

After two exposes in two days and two emails to AIM Regulation, Versarien (VRS) has been forced to admit to the bad news it had been sitting on thereby breaching AIM Rule 10 and committing fraud ahead of a May 14 placing. But even the ‘fess up RNS is grossly misleading. So U offer up its RNS and what it should have said. The fraudsters at Versarien first:
AMRQ
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Amaroq Minerals – year-end price target upped following bumper fundraising, Strong Buy

Writing previously on the “Proposed equity fundraising and acquisition of additional licences to create a new West Greenland Hub” by Amaroq Minerals (AMRQ) we stated that we consider Amaroq to be well-managed and it has demonstrated an ability to fund and progress projects. The fundraising has now further demonstrated that with it “significantly oversubscribed” despite being at only a very limited discount. The shares were 86.5p but, at 85p, not £30 million but £45 million was raised and, although nicely up from a 73p offer price tip, the following is why we still consider there significant near and long-term value potential here.
LPA
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LPA Group – interims emphasise expect “full year in line with current market expectations”… but those are from a lack-of-profits warning just two weeks ago!

Electronic and electro-mechanical components and systems group LPA (LPA) has announced results for its half-year ended 31st March 2025 including emphasising “pleased to report that our order intake exceeded our expectations for the first half of the financial year proving that demand for our product solutions remains robust… expect to deliver results for the full year in line with current market expectations”. So what about a current share price response to 47.5p, approaching 8% lower?
Bearcast
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Tom Winnifrith Bearcast No 2: Not recording in a beehive

I explain about the beehive and then some macro matters relating to my team (Israel) whipping Gary Newman's pals in Iran. Then it is Anemoi (AMOI), Vinanz (BTC), Kenmare (KMR), Revolution Beauty (REVB), World Chess (CHSS) and Litigation Capital Management (LIT).
KMR
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Kenmare Resources – due diligence access “in order to facilitate the consortium improving the financial terms of the proposal” actually leads to a rejected “substantially” lower proposal!

In March I concluded cautiously on titanium minerals miner in Mozambique Kenmare Resources (KMR) as the shares soared to around 400p on a possible offer “proposal” including noting a likely material share price fall if a deal is not agreed. The shares most recently closed at 394p and what about them now currently back towards 300p on it announced that a deal has not been agreed?

HAS
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Hays plc – profit warning on net fee declines despite admitted “soft” comparatives!

Most recently on international recruitment company Hays plc (HAS), in February with the shares slightly falling from just above 73p, despite it arguing its “key markets are being driven by powerful, supportive megatrends and remain characterised by significant talent shortages”, I noted macroeconomic headwinds and that there could be structural challenge to the sector also so to still avoid. The shares most recently closed at just above 70p and what of them currently falling towards 60p on the back of a “Pre-Close Year End Trading Update”?

VRS
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BREAKING: Versarien: it gets far worse, it deceived us with its annual results & report, surely AIM Regulation must act!

Yesterday I revealed HERE how Versarien (VRS) breached AIM Ryle 10 and committed fraud by not disclosing that what it deemed a “pivotal” customer had gone tits up before doing a placing. AIM Regulation tells me says that it is now considering its position but I am afraid that it is far worse than even I thought. With a hat tip to Dr Sour Kraut…
BELL
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Belluscura:: when even your parents disown you, the Fat Lady is surely starting to gargle

Belluscura (BELL) has already uttered the most dreaded words in the Financial Dictionary “strategic review.” That should be a warning sign that this cash guzzling, serial disappointer, is heading for a final grizzly end as long predicted by both myself and Evil Banksta. At this juncture it is not whether the rats leave the sinking ship but which rats jump first.
Bearcast
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Tom Winnifrith Bearcast No 1: Smarter Web Company madness, Gavin Burnell's warrant purchases, the FTSE 100 nightmare and my Bluebird dreaming

The Smarter Web Company (SWC) is now valued at £1.4 billon on a fully diluted basis, I discuss various bits of news today and allow myself to dream about Bluebird Mining Ventures (BMV) after an article on ZeroHedge.
DWHT
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Dewhurst – emphasises half-year “solid” growth, so why a more than 8.5% lower share price response?…

Electrical components and control equipment group Dewhurst (DWHT) has announced results for its half-year ended 31st March 2025, commencing that it is “pleased to report a solid performance for the first half of the current financial year, in line with management expectations”, including pre-tax profit up to £4.1 million, generating earnings per share up 11% to 36.4p, and a maintained 5p per share dividend. So what of a current more than 8.5% lower share price response to 800p?
Bearcast
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Tom Winnifrith bearcast No 2: infanticide is now legal, I despair

I start with infanticide, then the Iran Israel war, oil and gold and Tullow (TLW). Then it is Tiger Royalties (TIR) and Tao Alpha (TAO) and finally how to stop me exposing poor corporate governance.
Boom
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BREAKING: The City’s most disliked man wins £3,109,924.09 in the High Court

No, sadly that epithet does not belong to me but to Richard Jennings who delights in the phase “Nobody Likes me and I don’t care.” And so for his many haters, including numerous shareholders in The Smarter Web Company (SWC) who troll him on twitter on a daily basis arguing that he is a penniless ignoramus, this news will be unwelcome.
AO
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AO World – full-year results argue “fantastic momentum that we’re seeing across the business”… but then suggest a potential profit fall this year!

Electricals retailer AO World (AO.) has announced results for its year ended 31st March 2025 emphasising “a record profit before tax performance, significantly grown our sales” and “fantastic momentum that we're seeing across the business”. So what about a currently approaching 3% lower share price response towards 98p?
Professor
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The Bitcoin Treasury bubble in London, Gresham's Law, MicroStrategy and the madness continues

Bulls of Bitcoin tell you that with countries debasing their Fiat currencies by running continually running budget deficits that Bitcoin will appreciate in value because unlike Fiat currencies, Bitcoin it has a finite supply. And thus you must own bitcoin in treasury stocks but I just flag up a couple more inconvenient truths
SDY
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Speedy Hire – full-year results, how ‘robust’ really is its performance?…

Describing itself as “the UK and Ireland’s leading provider of tools, specialist equipment and services”, Speedy Hire (SDY) announced in April that it “has performed robustly… expects to report results for FY2025 in line with its expectations”. So what about its now year ended 31st March 2025 results detail?
VRS
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EXPOSE: Versarien hid material bad news before last placing, is anyone at AIM Regulation awake?

To stave off bankruptcy by a few months Versarien (VRS) raised £425,000 at 0.275p on May 14th. But at the time it was sitting on adverse material news and in not disclosing that ahead of the placing (or in fact since) surely that is a breach of AIM Rule 10 if not outright fraud?
Madness
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Malcolm Burne’s chilling warning on bitcoin in treasury

No doubt some folks will dismiss the warning of a man with a more than sixty year career in financial journalism, fund management and running PLCs as the words of a dinosaur. They’d rather follow a 20 something heavily tattooed "PR genius", a deranged Mammon worshipping Catholic priest and visionary David Lenigas. It will NOT be different this time. Malcolm pinged me an email last night:
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