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Tom Winnifrith Bearcast - an amazing apple from Wales

I start with a few ramblings on turning the Welsh Hovel into a homestead and an apple I have just eaten. I end with a reminder that 98% of you have yet to donate to Rogue Bloggers for Woodlarks. I am sure that you can each afford a tenner, please do donate HERE. Then I look in detail at Strix (KETL) and explain why Versarien (VRS) really is screwed. Unless you have dealt with banks when running a struggling company - as I have - you just won't get why. I also look at BSF Enterprises (BSFA), Wishbone Gold (WSBN) and Inland (INL).

Tharisa – debt facility agreement, ‘another key step in its development’

Platinum group metals and chrome producer Tharisa (THS) has announced what it emphasises as a further “key step” in its development with an agreement, “subject to the fulfilment of certain conditions”, for a $130 million debt facility with Société Générale and Absa Bank. However, also noting end-2022 net cash of $101.1 million, what’s the debt facility agreement a “key step” for?
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Strix – 2022 results, what’s “will prioritise debt reduction and free cash flow generation” actually likely to deliver?

Kettle safety controls and other water temperature components group Strix (KETL) has announced results for the 2022 calendar year and emphasised “strong potential for greater top line growth and improved margins going forward”. What then of the shares, currently up to 94p on the back of the results announcement but still down from 100p when I previously wrote on the group in January?
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Okyo Pharma – after the pump and dump now its a share support operation ahead of next bailout fund raise just weeks away

Heaven knows why this US based POS maintains a dual listing on the (sub) Standard List. It really is a cash guzzling crock as we have pointed out on numerous occasions HERE. In the first part of this year Okyo Pharma (OKYO) managed to pump its shares up to 5.5p with a series of spurious and ramptastic RNS’s. Then as the Bulletin Board Morons took they trousers down, whoosh, a $5.5 million funding arranged by the company not its brokers, came in at just 1.85p. Ouch. And double ouch. One hopes that the morons had lubed up.
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Essentra remains a Buy for me (and remember it went ex-div last week!)

Did you see the comments from the UK’s best retailer NEXT plc (NXT) earlier today? No, it was not that it had bought floral fashion brand Cath Kidston from administrators in a deal worth £8.5 million but that, despite everything out there, it is maintaining its year ahead hopes. Admittedly, this still implies a slight fall in sales and only a slight rise in profitability but you can probably name a hundred clothing and related retailers who would love this profile.
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Advanced Oncotherapy – New Record Low But How Bad Will It Get?

Paid for researcher Hardman may keep on telling mug punters that AIM-listed Advanced Oncotherapy (AVO) is a great company with a target price of gazillions, but the reality is that this cash-guzzling outfit which keeps on failing to deliver any income, is running out of funding options as the price crashes ever lower. Just how bad could it get?
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LoopUp – argues ‘a strong revenue run-rate heading into FY23’. Er, what about the bottom-line though?!

Describing itself as a “cloud platform for premium external communications”, LoopUp Group (LOOP) has issued a trading update commencing that it “now expects a material jump in Q422 revenue to approximately £7.2 million following the PGi Connect transaction announced in September 2022, and so a strong run-rate heading into FY23” and the shares have currently responded 5% higher. Good news then?
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Mirriad – update on Formal Sale Process, next update April Fool’s Day?

Once again we are watching the death throes of a company where Steve Moore and myself have warned you for years as you can see HERE. On 20th January Mirriad (MIRI) announced those words no shareholder wants to hear “strategic review.”. In plain English, we are fecked and the Fat lady is checking her diary.
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Versarien AGM statement – car crash, 0p target now in sight

Oh dear, oh dear, as the disgraced share tipster "old mother" Mike Walters used to say when one of his many disastrous share tips collapsed. Versarien (VRS) is just the sort of blue sky company churning out lies and issuing new shares whenever it could that would have attracted Walters, like shit attracts flies. That even Walters did not tip Versarien tells you something. Today we have an AGM in Cheltenham and the statement from chair Diane Savory has just been released. It is dire. Everything is for sale, it is cash crisis ahoy!

Gamma could Give a Ray of Sunshine to Shareholders in a Business World that Seeks to Save Cash

Hello Share Mashers. Companies that serve other companies rather than the public can do well for their shareholders. One such business is Gamma Communications (GAMA). It helps firms to organise telephone calls on the internet. It does it with a telephone exchange in the Cloud. Part of the deal is a virtual call centre – again in the Cloud.
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Tom Winnifrith Bearcast: Catriona and Matthew's Dog will love it: Tortilla Mexican do the maths while FYB with Skinbiotherapeutics

I start with Tortilla Mexican Grill (MEX) where, as is his wont, young Steve Moore was far too generous yesterday in calling at an avoid. I do the hard maths and it is in deep merde. Then it is onto UK Oil & Gas (UKOG), Pennpetro (PPP), Predator Oil & Gas (PRD) and the bloody useless FCA. Finally Skinbiotherapeutics (SBTX) before, principally to annoy poster Magna Carta, a few words on why I ask you to donate today to Rogue Bloggers for Woodlarks - you can do so HERE

Journeo – further new business, looks further upside to come on this winning share tip

Information systems and transport technical services company Journeo (JNEO) has announced a 5 year software and support services contract at Gatwick Airport, following two other purchase orders and a contract win already this month.
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Versarien: sorry to be a pedant but it is breaking AIM Rules again

I guess with a looming cash crisis and possible insolvency as soon as June, the clowns running Versarien (VRS) in the post Neill Ricketts era probably have more to worry about than breaking AIM Rules. They may, like Ricketts himself, regard rules as for little people and as such view what follows as pedantry.
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Defamatory Bulletin Board Moron of the week: beinthelead on the LSE Asylum, re Skinbiotherapeutics

It is hard to know where to start with this utter cretin. But for starters I do not post on BBs in my own name or as Truatnt2tb as this fool alleges in a defamatory manner.
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Unbound Group – possible offer, what happened to ‘accelerating growth strategy’?!

Hotter Shoes brand 55+ demographic footwear group Unbound (UBG) has announced that “it is in discussions with WoolOvers Group Limited in relation to a possible cash offer for the entire issued and to be issued share capital of Unbound”. Good news?

Video: Gold is Winning Against All Fiat

Trader and writer Francis Hunt of “The Market Sniper” argues that you ain't seen nothing yet for gold and that silver will do even better when things really heat up.

Iconic Labs –- an illustration of the dangers of death spiral finance

In today’s RNS Iconic (ICON) announced that it had received a “Conversion Notice was dated 27 March 2023 and provides for 50 Convertible Notes to be converted into 1,315,789,473 ordinary shares of £0.00001 ("Ordinary Shares") in the Company at a conversion price of £0.000038 at the aggregate principal amount of £50,000.” With the issuance of another 1,315,789,473 new shares, the Company's issued ordinary share capital is now 43,106,916,660 shares. Yes that is more than 43 billion shares in issue.
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Wood Group – I agree there is “much more to come” (eventually)

The FY22 numbers from Wood Group (WG.) today had good, less good and “we are currently in an offer period” uncertainty angles. On the latter point, it cannot comment further on the surprise Apollo bid approach last month. I am not smart enough to predict bid outcomes, but what I do observe is that if you hold Wood Group shares it is all about the turnaround plan its capital markets day five months ago excited me so much about. And on that basis, the newish CEO and the old school CFO are doing a good job.

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BREAKING: The £250m tech blow-up Dev Clever – what is it hiding now?

On 16 December after almost a year of suspension on the (sub) Standard List, Dev Clever (DEV) announced that it was to delist, lying to investors by saying that it could not raise cash on that market. Of course it had been offered cash by Riverfort so that was a demonstrable lie from a company whose serial lies this website had exposed so often. It now gets even murkier.
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