Articles by: NIGEL SOMERVILLE

EPIC ESKN
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Esken – Formerly Stobart Group – FY Numbers: “Well Positioned For Future Growth”? Not If You Are A Shareholder!

My continued advice to keep well away from fully-listed Esken (ESKN) – the former Stobart Group (STOB) seems to have been well placed. Quite apart from the serial Red-Flags-At-Night announcements, there is the small matter of the share price continuing to collapse. A year ago the shares were 32.9p and I said sell; last August they had fallen to 15p and I said keep well away. Now they are just 8.77p and there are a few Red Flags in the FY22 results (to February) to suggest that there is still further to fall.

  • By Nigel Somerville
  • 2022-05-28 17:32:21
EPIC
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The View From The Montana Log-Cabin As Gold Tries To Rally

Gold closed the week at $1854 – a small improvement on last week’s $1847, but not yet enough to cure the sell-off in Gold stocks (although they did improve this week). So when are we going to see the great explosion I have been looking for since the start of the Covid crisis? I don’t think it will be long.

  • By Nigel Somerville
  • 2022-05-28 17:21:56
EPIC
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The View From The Montana Log-Cabin As Gold Stocks Are Pulled Down

Gold has had a pretty terrible few weeks: back in late February it spiked to $2050 and then hung around in the mid-$1900s until the end of April. Now it has been challenging $1800 from above and closed the week at $1847. Of course, in the context of being just $1200 for years ago the yellow metal has done well, but given all that money-printing and rampant inflation one might have expected more of late.

  • By Nigel Somerville
  • 2022-05-22 09:29:15
EPIC
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Another Blast From The Past As Medusa Mining Morphs Into Ten Sixty Four

I can’t say I’ve followed the affairs of ASX-listed (and formerly of the AIM parish) Medusa Mining (ASX:MML) since it departed our shores. But on Monday – for anyone still holding – the company is changing its name to “Ten Sixty Four”, ticker X64. So apart from the silly new name, what’s going on?

  • By Nigel Somerville
  • 2022-05-08 15:51:05
EPIC
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The View FromThe Montana Log-Cabin As Markets And Gold Continue To Take A Bath

That was a rip-roaring week! One might be tempted to suggest that equity markets do not know what they want: they were sliding ahead of the Fed’s rate decision in fear of a rate hike. When they got it (a half point rise) they went up. And when the dust settled they went down again. Gold and Bonds did much the same.

  • By Nigel Somerville
  • 2022-05-07 12:14:23
EPIC PALM
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Panther Metals – FY21 Numbers And Drilling News From Down Under

Standard-listed Panther Metals plc (PALM)  released its full-year numbers to December 2021 last week, and this bank holiday morning we had drilling news from its 37%-owned sister company in Australia, Panther Metals Ltd (ASX:PNT).

  • By Nigel Somerville
  • 2022-05-02 16:43:49
EPIC BSFA
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What Is A Company With £0.4 million Worth?

I ask this in relation to sub-standard-listed BSF Enterprise (BSFA), whose last accounts – full-year to September 2021 – showed £359,868 of cash and cash equivalents, and net assets of £364,816 having reported a loss of £58,325  on no income, which would have been a loss of £110,669 but for a VAT reclaim. Perhaps, given it had no business at the time, it was worth £364,816. Or perhaps we should allow for more losses going forward and mark it at around £300,000.

  • By Nigel Somerville
  • 2022-05-01 16:47:46
EPIC
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The View From The Montana Log-Cabin As Everything Bubble Deflates, Dragging Down Gold: Bring Back Arthur Scargill!

Everything is going down: shares, precious metals, bonds – it is all one way traffic south. The Nasdaq is now officially in a bear market, and has seen all of last year’s gains wiped out. The Dow is down from almost 37,000 at the turn of the year to 32,977 and all the US indexes slumped into yeserday’s close. But Bonds are also falling, and Gold had a poor week too – perhaps no surprise, given the general sell-off.

  • By Nigel Somerville
  • 2022-04-30 16:55:11
EPIC SUPP
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Schroder UK Public Private Trust (Former Woodford Patient Capital) – 2021 Results And Why The Shares Have Much Further To Fall

The Schroder UK Public Private Trust (SUPP) (formerly Woodford Patient Capital Trust, WPCT) announced its full year results for calendar 2021 on Thursday. The headline was that NAV was, after the company’s three-monthly recalculation with regard to its unlisted dross, 48.08p – strongly up from 35p at FY20. So good news?

  • By Nigel Somerville
  • 2022-04-24 12:05:48
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