A week ago I wrote about the latest update from Mode Global Holdings (MODE), stating that it was unable to secure any new funding, and I concluded that this likely meant a wipe-out for equity holders and that you should avoid it all costs. Some have tried to pump it, saying it was actually worth multiples of the 1.25p that it crashed to and that I was wrong and the EMI licence that it holds, and which basically enables its app to offer the financial services that it does, is actually worth a fortune and buyers would be queuing up for it.
AIM-listed jam-tomorrow (if ever) IoT investment Company Tern plc (TERN) has followed up yesterday’s ramparoonie over Wyld (listed on the joke Nasdaq-of-the-north exchange in Stockholm) with a big announcement of a new contract for jewel-in-the-crown Device Authority worth $1.2 million…….over five years.
Parsley Box (MEAL) has seen its share price soar over the past couple of weeks on news that it is planning to delist, which seems rather strange as I can’t imagine all the PIs who have been buying actually want to be stuck holding this after it ceases trading on AIM.
On 7 October Argo Blockchain (ARB) announced a series of measures to raise $39.5 million and claimed that this would be enough to last 12 months. Now I have doubts about that claim but unfortunately a proposed $27 million placing fell through so where is the company now?
Back in July I covered Pets at Home Group (PETS) as a buy based on my opinion that I expected the business to continue performing strongly, as we are a nation of pet-lovers and spending on them would be one of the last things that many people would cut back on. Since then the share price has seen some ups and downs, broadly in line with wider market sentiment, but yesterday it took a bit of a kicking and closed down over 5% at 289p, on a day where the FTSE actually performed reasonably well, after it released its results for H1 2023, up until October 13 2022 and covering a 28 week period. Having looked at the results I can’t really see what the market didn’t like, as they are in line with guidance in terms of full year pre-tax profit expectations on £131 million, with a range of £121-136 million.
It’s been a while since we’ve had a new IPO of a large oil and gas company in the UK, so Ithaca Energy (ITH) caught my attention, especially as it is a company that I had followed previously when it was listed.
AIM-listed Turkish Gold-producer Ariana (AAU) has released a progress report over drilling and exploration across its 23.5% part-owned Turkish assets. With the shares having drifted to 3.05p amid general market disinterest (although I fancy that is changing as we speak) the report is upbeat.
I3 Energy (I3E) has enjoyed a miraculous turnaround in fortunes over the past couple of years, thanks to buying new assets at the right time and benefitting from high oil and gas prices since then.
Hello Share People. That big dilemma is still with us. If you’d aped me and swapped your shares for cash in the Spring, you made the right call. But you need to be in it to win it. And there’s no point in staying in cash if the big share rally is starting. And we all know it will, eventually. But what should we do right now.
Nigeria isn’t my first choice of location when looking at investing in oil and gas companies due to some of the issues that foreign investors have had over the years, but if you’re bullish on the sector, then I can currently see value in shares in Seplat Energy (SEPL).
AIM-listed Bowleven (BLVN) released its full year results to June 2022 this morning and the news was not great. TW note, be honest it was piss poor. The cash is running low – noted in a material uncertainty warning regarding Going Concern and progress on the Etinde gas project off Cameroon – its one part-owned asset – has ground to a halt. Things are set to change, but there are plenty of problems.
AIM-listed Scancell (SCLP) was a company that I tipped – very unsuccessfully – in the past, on hopes of making pots of cash out of its medical technology. I sold, and needless to say, the shares then shot higher amid the Covid pandemic. But more recently, the ski-slope (downwards) reasserted. Until this morning.
Oil has been showing signs of weakness in recent months after hitting highs of nearly $140/barrel – for Brent – earlier this year, and has suffered over concerns about the economic situation in many countries in the coming months.
WTF is a mid season sale? In September Made.com (MADE) was pushing a "clearance sale" to those who get its spam. Last night I was invited to save up to 40% in a mid season sale as you can see below. I guess next month it will be a pre Christmas sale, then a Christmas sale in December before New Year sales start in January. In short every month at what is meant to be a premium retailer sees it act like a discount retailer. One wonders if the ASA would like to check out details of its supposed "hurry before its over" sales promotions as you can bet the ranch that the next hurry before its over promo is almost ready to go.
AIM-listed Advanced Oncotherapy (AVO) has announced yet another fundraise – this time for £6 million (before expenses) for the issue of another 24 million bits of confetti and associated warrants at 25p – the par price of the shares (below which it is not permitted to issue stock). The grateful recipient of the latest round of paper? Step forward clients of Odey Asset Management as Crispin Odey’s outfit doubles down yet again.
Earlier this year I took a look at online fashion retailer BooHoo (BOO) and noted that whilst I saw long term value from the share price at the time, it could well get even cheaper in the near term.
AIM-listed online ladies fashionwear purveyor Sosandar (SOS) served up a half-year (to September) trading update this morning. The highlights were appealing: revenues up 72% year-on-year and a profit before tax of £0.1 million made good reading. But as Tom Winnifrith oft opines, sales is vanity and profit is a matter of opinion: what really matters is cash.
I think we have firmly established that AIM-listed jam-tomorrow investment company Tern plc (TERN) needs yet another placing some time before Q2 2023 despite its recent fundraising efforts. But that is just to keep the lights on. What about its portfolio of cash-hungry mutts? When will the next call on Tern’s (lack of) cash be? Wyld, with its warrant call mid-December? Or might there be a call for funding from another of Tern’s portfolio first?
Following a ridiculous rise in the shares of sub-Standard-Listed AIQ (AIQ), I have been expecting the forces of gravity to reassert and pull them down from a peak of over 19p. Gravity duly obliged over the last week, dropping AIQ’s confetti to 15p at the weekend, but now they have dropped again to 13p after the company handed out a load of 1p warrants. Normally I would shout and scream about pigs in the trough if warrants were issued at 1p when the shares were trading at 15p, or 13p at which they closed. But this is different.
Tertiary Minerals (TYM) has always been one of those companies that has promised a lot based on the potential of its resources in the ground, yet never seems to make much progress towards actually extracting any of them, whilst burning through cash and having to raise more at regular intervals.
Shares in airlines have been hammered recently with concerns over demand during a cost of living crisis, as well as rising costs of running these businesses, but I’m not convinced that things are quite as bad as the markets seem to be factoring in.
Caerus Mineral Resources (CMRS) is a company that I tipped as a speculative buy when it IPO’d, and after initially performing well, the share price has since crashed.
Back in March, at the request of a ShareProphets reader, I took a look at Capital Metals (CMET) and noted that although the company and its resource didn’t really appeal to me personally, I could see some potential there if and when it reached production.
Pure Gold, of the TSX-V (PGM) and the LSE (PUR), updated the market with news that it has achieved record Gold production in August and reaffirmed Q3 guidance, driven (we are told) by record ore throughput and improved grades. The shares are up on the news by 12.6% to 7.6p (still a country mile below the 10.25p at which I said, last April, that it was certainly not one for me – and I am supposed to be a Gold bull!) but there is a massive fly in the ointment.
With the recent weakness in the prices of some commodities, including copper, many junior miners at the pre-production stage have seen their share prices drop substantially. That has definitely been the case with US copper explorer Phoenix Copper (PXC) which was trading at close to 70p earlier this year, but has since gradually slid all the way back down to a current price of just 20p, and without any company specific news really justifying it.
Petrofac (PFC) definitely had its fair share of problems and scandals in recent years, but that all now seems to be behind it, and the sector that it operates in should perform strongly in the coming years.
AIM-listed Catenae Innovation (CTEA) finally popped its head above the parapet after a more than two month silence, in relation to its suspension which, under AIM Rules, will see the company given the order of the boot if it fails to publish full year results to 30 September 2021 by 1 October. It is twenty-eight days to go, and ticking. The announcement came at 12.09pm yesterday (Friday) – just as the City was tucking into a relaxed lunch at the end of a busy week.
Former Neil Woodford favourite, fully listed Esken (ESKN), has offered up a trading statement this morning ahead of its interim results to today – which won’t appear until November. The statement offers some glimmer of hope, which saw the shares rise initially by as much as 7% before turning tail as the market read into the detail.
Yesterday, AIM-listed jam-tomorrow and running out of cash fast investment company Tern plc (TERN) announced that CEO Al Sisto had piled in to buy a whopping 200,000 shares via a subscription at 9.9p on Tuesday. The shares moved up by 6% in response – adding £2 million to the market capitalisation. But this is all a massive spoof.
We know that investee of AIM-listed jam-tomorrow investment company Tern plc (TERN), FundamentalVR (FVRVS), raised new money via a Series B funding round as announced on 31 May 2022, and again as announced on 11 August 2022 – the second of which cost Tern £1.5 million against the book value of its investment. On 28 July 2022, Tern chairman Ian Ritchie was announced to have bought 560,000 shares in Tern. This raises an interesting question.
There was encouraging news this morning from AIM-listed Gold producer Ariana (AAU) in the form of news from 50%-owned investee Venus Minerals. Venus is supposed to be joining the AIM Casino, and as part of the deal has a conditional 50:50 joint venture ownership agreement with regard to the Apliki copper project in Cyprus, and the Mineral Resource Estimate has been upped to 17 million tonnes of measured, indicated and Inferred Resource at an average grade of 0.34% copper.
AIM-listed jam-tomorrow IoT investment company Tern (TERN) announced yesterday afternoon that investee Fundamental VR (FVRVS limited) had raised a further £5 million in a second tranche of the Series B fundraise first announced back in May. That seems positive, so why the immediate share price drop in the market?
By my back-of-an-envelope, AIM-listed Haydale (HAYD) is once again almost all out of cash – I reckoned HERE that the coffers could be bare before the end of September. Having burned through £430,000 in June alone, the company had £1.19 million at the close of June. So what will the company do?
AIM-listed junior Gold producer Ariana Resources (AAU) released its half-year production results this morning, which made for a good read. But the bigger news for me was that construction at Ariana’s second Gold mine at Tavsan has formally started and is expected to be in operation in around 12 months. Hooray!
It never ceases to amaze me how easily some of the micro cap shares get pumped, and how willing some people are to buy even after a huge increase in the share price on no actual news.
Quite a lot has happened since I covered Jadestone Energy (JSE) as a buy just over a month ago, and recent news has further strengthened my positive outlook on the company.
AIM-listed member of the Woodford disruptive revolutionary front, Eve Sleep (EVE), has updated the market this morning on its formal sale process and trading. The news is not good and I suggest that anyone holding shares here is truly certifiable.
When AIM-listed Haydale (HAYD) released a trading update AHEAD of its full year at the end of June, seemingly indicating that all was well, I wondered if that was really the case. Well, this morning we know the answer to that, after a full-year trading update. All most certainly is not well – and the shares are already down by 5.5%.
Serica Energy (SQZ) is a company that I’ve been following for quite a few years now and it has been my best performing share tip ever during that time. It has gone from a small company that had acquired some later life assets that BP didn’t appear to want any more, and with sentiment pretty low following its past screw-ups in Indonesia, to where it is now with a booming UK-based gas and oil business, lots of cash in the bank and more being added on a daily basis and a market cap in excess of £900 million.
The way the markets are currently it feels like there is plenty of risk in buying anything, even in the sectors that are expected to remain strong in the coming months.
Touchstone Exploration (TXP) seems to be suffering from rumours on a Telegram group that there are delays to its Cascadura gas asset reaching into production, and this has caused the share price to plummet, currently down over 11%.
As a long-term bear, yesterday’s interims only confirmed my belief that Asimilar (ASLR) will collapse. Emailed questions go unanswered, so perhaps readers can assist.
AIM-listed Ariana Resources (AAU) has released its FY21 numbers this morning – and not a day too late! The highlight for me is the cashpile of £16.4 million at year-end: no funding worries here, then, and the final tranche of the special dividend arising from the part sale of Ariana’s Turkish assets is due on 3 October. But there is much more than that!
Any disruption to production is obviously a big issue for oil producers, and even more so when a company only has a small number of operations and it causes a significant impact on output.
It has all gone quiet at AIM-listed Ariana Resources (AAU) but I fancy that things are about to hot up, which may make the shares a short-term buy in advance. Of course, I seem always to find a justification for buying Ariana shares and my target price is not far off double the current mark at 3.75p. But the company is pregnant with news, much of which is due by the end of this month.
I commented only last week that whilst the receipt of $748,400 on a loan from Argentina was a welcome development, I wasn’t sure it was enough to keep the wolf from the door at AIM-listed Rurelec (RUR) – the carcass left behind after it was run into the ground by Peter Earl. Today, at 2.38pm, the company slipped out its results for calendar 2021. So how’s the cash position?
AIM-listed Haydale (HAYD) has offered up a trading update ahead of its full year to June 2022. Apparently all is well, with revenues ahead of expectations but is that really the case?
I’ve been a fan of Capricorn Energy (CNE), formerly Cairn, for some time now and my investment there has done pretty well, but I probably won’t be holding for much longer now that it has announced a merger with Tullow Oil (TLW).
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has announced a recommended all-share deal to take over AM-listed Pires Investments (PIRI). The fanfare numbers are that Pires investors are getting a 54% premium to the previous closing price, with Tern’s shares priced at 15.5p, but that seems to me to be a spoof. One wonders why Pires' board took the deal…..
Aquis-listed TruSpine (TSP) is yet another of the disastrous recent IPOs to have sullied the London markets. Having joined the lobster-pot in August 2020 at 36p, the shares have utterly collapsed in the wake of an IPO subscription doing a runner and multiple delays to the approval of its Cervi-lok spinal stabilisation device, which was supposed to have seen FDA submissions completed in Q4 2020 and we were promised commercial sales in 2021. Here we are at the end of May 2022 and the FDA has not yet been satisfied, there is no sign of any sales and the shares are now just 4.3p in the middle. Ouch! But has the company run out of cash?
I have been bearish on AIM-listed Yu Group (YU.) almost since the dawn of time. Well, since the company ‘fessed up that it had effectively been making up its numbers and that there was a black hole in the accounts. So is it time to reconsider, in the light of yesterday’s apparently bullish AGM trading update? Not so fast…..
Radiation and bio-detection technology group Kromek (KMK) is “pleased to have received… latest order for our D3S-ID nuclear radiation detector… from a US federal entity”. What of a current share price response up to 12.75p?...
I’ve been taking a look through the annual report from Wyld, AIM-listed Tern’s second largest investment, for calendar 2021. Needless to say, there was no announcement form Tern over this…..
Analyst, Chris Puplava, argues that Fed rate hikes don’t always result in recessions. He believes there is no spare capacity to compensate for a slowdown and, therefore, the Fed is limited in its ability to control inflation. The November elections are always a factor, and he doesn't expect the Fed will tighten aggressively into the fall. Mortgage rate hikes, he argues, are already impacting the housing markets, as the interest rate pain threshold has been more pronounced with every debt cycle.
I recently covered Serinus Energy (SENX) as a speculative buy based on the likelihood that the results for the first quarter would be good and the company would have benefitted from high commodity prices and fairly low Capex.
It isn’t really surprising that any companies operating in the region where the current conflict between Russia and Ukraine is going on have taken a big hit to their share price since it all kicked off, but that can also present opportunities as long as you are prepared to take on the risks associated with that.
Serinus Energy (SENX) shares have performed pretty badly, considering that oil and gas is currently in a bull market, but I believe that the next set of operational and financial results could be a turning point for investors.
A couple of weeks back I wrote a piece here about how I was excited about the prospects of a small AIM oil company, Afentra (AET), where I hold a stake myself and which had just announced that it had potentially secured a stake in two blocks, subject to final due diligence. The company has now announced that it has entered into a sale and purchase agreement with the vendor, Sonangol, and has released a lot more information on the finer details of the proposed transaction – including the fact that it is expected to be funded from existing cash balances plus debt, and with no equity dilution to existing holders in order to complete the deal.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) today provided an update in the form of its AGM statement. As ever, it is full of hyperbole but offers few hard numbers. The ShareProphets RNS Translation Service explains all…..
Over the weekend reports emerged in the Angolan press that its national oil company, Sonangol, had finally completed the bidding process for the licences that it was selling its stakes in, and that a small AIM company, Afentra (AET), had been successful in being selected for two of these blocks. I’ve been invested in Afentra for some time – as well as having covered it positively several times here going back to the days when it was called Sterling Energy, and like many others have been patiently waiting for some news whilst the shares remained suspended. Due to the size of any transaction resulting from its bids, it will constitute a reverse takeover and the shares were suspended accordingly, and will remain so until either a prospectus is published or it terminates its bids for the Sonangol assets.
AIM-listed online purveyor of ladieswear, Sosandar (SOS), has released a trading update for its full year to March 31 2022 – and the news is good. Expectations had already been raised, but this morning the company tells us that those newer forecasts have been beaten. So is all rosy in the garden of Sosandar?
I commented on the Interims to December from AIM-listed Barkby Group (BARK) yesterday, noting a massive black hole in net current assets to the tune of a whopping £12.4 million. So how is the company paying for this acquisition – and the comprehensive refurbishment by June 2022?
AIM-listed Catenae Innovation (CTEA) was suspended from trading on Friday morning as it was unable to publish its FY21 Accounts to September 30 by deadline day. I can’t say I didn’t warn you – the only surprise is that it has taken this long for a suspension.
Central Asia Metals (CAML) is one of those companies which I think is consistently undervalued by the market, and although it carries some degree of geo-political risk, I believe that too large a discount is applied for that.
AIM-listed jam tomorrow IoT investment company Tern plc (TERN) badly needs to get a fundraise away as the closing date for cashing in its first round of warrants at Wyld, listed on the Nasdaq First North joke market in Stockholm approaches. I reckon it has got at best a couple of weeks and probably only one week before disaster strikes. The only question for me is whether the disaster will be the collapse of Wyld or just a massively discounted bucket shop placing-induced collapse in Tern’s share price.
It is always a Red Flag for me when a company posts a profit but is burning cash, and that brings me to yesterday’s full year results for 2021 from AIM-listed Yu Group (YU.).
Hello Share Dabblers. This old punter has never recommended a furniture purveyor before. My own modest gaff doesn’t have much woodwork less than 100 years old and some of it is Elizabethan. The modern equivalent can’t hold a candle to it, in my predjudiced view. But most of the world doesn’t agree and plain, simple and chunky styles of new furniture seem to be selling well. Especially as Covid has kept more folks at home for longer. They’ve decided to pep up their living and bed rooms with newer-style furniture.
Capricorn Energy (CNE) has seen its share price weaken since it announced a tender offer as opposed to a special dividend, which many investors had been expecting, but remains one to hold.
For most of the last year, AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) has survived because its supporters were truly sold on Tern’s portfolio being worth a multiple of the official NAV per share which allowed Tern to issue more and more shares like there is no tomorrow at a huge premium to NAV per share, even if at massive discounts to the prevailing share price. Until now.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) announced yesterday that it is to participate in the Sure Valley Ventures UK Software Technology Fund, to the tune of an initial £90,000 and a total of £5 million over the next ten years. So where is the money coming from as the deadline for converting Tern’s first round of warrants in Wyld (due at the end of the month) ticks down to an inevitable discounted bucket-shop placing?
IGas Energy (IGAS) has been performing well recently in terms of the share price, but following the latest trading and reserves update it has taken a bit of a hit and pulled back more than 14%.
I noted yesterday that FY results from sub-Standard-Listed AIQ (AIQ) were due today. To leave one’s results to deadline day is of itself at Red Flag, but a brief nose through the numbers what a horrific shambles has been made of this VSA Capital/ Andrew Monk IPO from 2018. Fortunately, ShareProphets readers were warned right from the off.
Online fashion retailer Boohoo (BOO) has performed terribly for anyone who has been invested over the past year or so and has seen its share price drop by around 75% during that time.
AIM-listed graphene play Haydale (HAYD) announced its interim results to December 2021 this morning and despite the advertised £3.84 million of cash, yet another placing is surely inevitable. Revenues fell from £1.28 million to £1.19 million, pre-tax losses increased from £1.93 million to £2.46 million year on year – what’s not to like? But the real problem is the balance sheet.
AIM-listed jam-tomorrow investment company Tern plc (TERN) announced yesterday that investee Talking Medicines had raised £1.59 million from a fundraise – including £400,000 from Tern. The company trumpeted that the value of its investment had therefore headed north from £0.86 million to £1.79 million. Is it time for the TERNers to crack open the Ouzo?
As predicted on this fine website, AIM-listed Purplebricks Group (PURP)’s interims to October 2021 are suitably disastrous. But since the company isn’t bust (yet) the market has reacted with relief and the shares are marginally up on the day, at 20.3p – though a long way shy of the 50-60p they were at only last autumn, and a country mile off the £5 at peak Neil Woodford-ramp back in 2017. The opening preamble tries to polish the turd, but a peek at the formal accounts shows that it lost £20.2 million in just six months. During a housing boom where anything standing sold within hours and average prices roofed it as mortgages were almost free to a good home. Yikes – just how bad might it have been in a slump?!
AIM-listed Yu Group (YU.) has updated the market with a full year trading update for 2021, claiming a very strong performance for FY21, significantly ahead of market expectations….FY21 revenues, profitability….have all extensively exceeded management forecasts. So the coffers are burgeoning with cash, then? Er…..
I always find it hard to buy shares where I see fundamental good value and where I am intending to hold them as an actual investment rather than just a short term trade based on momentum.
Advance Energy (ADV) is proving to be probably my worst tip ever, given that I only covered it yesterday and the share price is currently down around 80% following an update on drilling which appears to be bad news, and I can only apologise to anyone who bought based on my piece yesterday. At least it has given my pea brained critics on twitter a day of onanismic delight.
A real buzz seems to have returned to the oil and gas sector in recent times and with commodity prices at their strongest for several years, and that even seems to be trickling down to the lower end of the market and the explorers now with some shares on a real rip.
Pharos Energy (PHAR) has been a terrible investment for anyone who has held longer term – including myself – and even more so from the days when it was called Soco International (SIA), but I still believe that it can turn things around.
Sub-Standard-Listed Cloudbreak Discovery (CDL) added yet more Red Flags to its profile this morning on the release of an RNS at 7a this morning entitled “Final Results for the Year Ended 30 June 2021”. Just for a start, releasing FY numbers during no-one-is-watching week as investors are away from their desks between Christmas and New Year is an automatic Red Flag. But the RNS did not contain the results – only a management summary, telling the reader that “A full copy of the results is available on the company website”. Except at 7.30am this morning, that was not the case.
The lower end of the AIM market seems to be littered with small companies that haven’t made any real progress over the years, in terms of shareholder returns, and I’m often left wondering what the point of them being listed is, given the additional costs that involves.
AIM-listed Mediazest (MDZ) offered up a trading statement yesterday and I wonder why. There were positive noises, of course, but this was a trading statement apparently covering the second half of the year ending 30 September 2021! Last year it offered up its year-end statement, including the second lockdown, on November 12th 2020. Why has it taken Mediazest an extra month in an environment somewhat less affected by Covid this year?
Hurricane Energy (HUR) is a company that I’ve been following and covering ever since the days before it drilled the Lancaster appraisal well; through the times when it looked like it could be a big AIM success story; and more recently when it was uncertain as to whether it would even survive.
AIM-listed graphene products company Haydale (HAYD) has released its full year results to June 30 2021. Amongst the highlights we are told of a “robust trading performance” and the “Summary of Results” shows that cash outflow from operations was down by 52% whilst cash at year end was up by 100% at £1.64 million. So all is well, right? Think again…..
Well surprise, surprise! AIM-listed Advanced Oncotherapy (AVO) has announced that the first fully operational LIGHT system has been delayed from the end of this year to the end of Q1 next year. I noted HERE that the delay announced this morning was pretty well baked in. Given that we have moved from “could slip into Q1 2022” to “around the end of Q1 2022” in the space of less than two and a half months, it seems to me that further slippage is highly likely. Indeed, despite this morning’s announcement, one wonders whether any progress has been made at all since the announcement of diabolical interims at the end of September. So there will be at least another quarter sans revenue……what about the cash?
The last time I wrote about Omega Diagnostics (ODX) was back in June when I got slated for suggesting that the company had missed the boat when it came to Covid testing, and that its Department of Health and Social Care contract wasn’t worth the headline figure you so often saw people banging on about!
Last Friday Aquis-listed Rutherford Health (RUTH) advised that it was in discussions to secure bridge financing and that a further announcement would follow this week. This followed the non-appearance of placing monies originally announced back in August which were repeatedly put back. Is the company out of cash yet?
Mode Global Holdings (MODE) is typical of many small technology companies in that it burns through cash at an alarming rate whilst trying to grow its revenues to any sort of meaningful amount.
In the past AIM-listed online ladies clothing purveyor Sosandar (SOS) boasted of EBITDA (bullshit earnings) in part because they were pretty close to real, bottom-line earnings and cash outflow. Not so any more! So we are told of EBITDA positive trading recently and the company boasts of revenue growth of 184% to £12.2 million, Gross Profits of £6.9 million, Net Cash of £7.4 million and that the EBITDA loss was £0.99 million in the six months to 30 September, So things are going gangbusters, right? Not so fast……
AIM-listed Gold producer in Turkey Ariana Resources (AAU) has announced the second investment of its wholly-owned subsidiary, the Asgard Metals fund: it is to put £200,000 into UK-registered Pallas Resources, along with a consultancy agreement worth up to £75,000 under which Ariana will provide technical consulting services to Pallas over a two-year period.
Cloudbreak Discovery (CDL) only joined the sub-Standard List in June, but the stock has been a one-way ticket south ever since. Having listed at 3p and peaking at 5.5p, the shares are now just 1.425p. Anyone who purloined IPO shares has now lost some 53% of their cash in around five months. Is that some kind of record?
Quelle surprise. Who would have guessed it? The fraud Supply@ME Capital (SYME), now almost out of cash and still burning cash, has elected to pay the remaining November amounts due under its Mercator death spiral – which at announced as being a loan - by issuing more shares rather than in cash. Calling this deal a “loan” was the least of the lies told by Supply But it was a lie. With the shares at 0.1525p Mercator will have already forward sold – see volumes in the past couple of days – the £300,000 of shares it received at 0.135p. But there is a bigger elephant in the room.
JKX Oil and Gas (JKX) is a company that I’ve followed for a number of years but it has never quite lived up to expectations, nor performed anywhere near as well as its assets on paper suggest that it should have.
Aquis lobster-potted Rutherford Health (RUTH) – formerly Neil Woodford favourite Proton Partners – has announced a deal to open new health clinics in partnership with BUPA. Great, whizzo……but there is just one tiny little thing wrong here!
Aquis lobster-pot listed Rutherford Health (RUTH) has announced yet another delay in its acquisition of Proton Partners International Health Care Investments LLC, UAE. The deal, originally announced on 31 August 2021 – along with a placing which is also delayed – was due to complete 21 days on from a share swap deed dated 28 August. Then it was 11 October 2021. Now it is 16 November and the ShareProphets bookies are offering generous odds on yet another extension after that.
AIM-listed Gold (and Silver) producer in Turkey, Ariana Resources (AAU) has announced this morning that the Turkish government has approved the Environmental Impact Assessment (EIA) report for the Tavsan Mine – to be Ariana’s second Gold/Silver producer. This is great news and the market has responded by marking the shares up early-doors by 11% although they have settled back to 4.45p since.
I am quite impressed today by two names that I do not own but probably should. That’s life in the investment world sometimes (actually quite often). But the key is to keep on looking.
AIM-listed ladies’ online fashionwear purveyor Sosandar (SOS) updated the market this morning with a highly positive trading update. Given that Tom Winnifrith was asking if a profit warning was due, this morning’s statement leaves one wondering if the Sheriff was wrong. Or was he?
Bacanora Lithium (BCN) is a company that I have covered a few times previously, most recently when major shareholder and joint venture partner Gangfeng made a takeover bid for it.
I’m surprised to see Central Asia Metals (CAML) showing some share price weakness prior to the release of its interim results next week, as I’ve no reason to suspect that they will disappoint the market – in fact I would expect them to be good!
The last time I commented on AIM-listed Mediazest (MDZ) in May, having previously noted a balance sheet calamity, I called for a statement from the company regarding its chairman, Mr Lance O’Neill and his relationship with Claremont Capital Assets Limited (CCAL) as a related party.Needless to say, we’ve heard nothing from the company about that. This morning, however, we have a trading statement. Given that its next reporting period end is September 30th, one has to wonder why….until you consider its car-crash of a balance sheet. I suggest this is all leading up to a bucket shop special.
Drat and double drat. There I was yesterday thinking that shares in AIM-listed Gold (and Silver) producer in Turkey Ariana Resources (AAU) were incredibly cheap at 4.4p and contemplating another purchase – but then other things got in the way and I didn’t add to my over-sized holding. And so today we got another round of drilling results, this time from Arzu Central, and the stock is up 6% to 4.65p. Somebody obviously likes the news…..
AIM-listed John Zorbas outfit URU Metals (URU) had a good day in the market yesterday as its shares shot up by 8% to 405p on news of developments regarding its “disposal” of the Zebediela nickel project in South Africa to Toronto Venture Exchange listed Blue Rhino (RHNO). Except as far as I can see it is not really a disposal as one might normally understand the word.
AIM-listed alternative energy supplier Yu Group (YU.) has updated the market this morning with a trading statement for the half-year to June. We are told of strong growth in bookings ad revenue with confidence in delivering profitable growth, but whilst cash balances are broadly flat (ie a little down) over the period there is again no discussion of net current assets. So is it just more of the same?
Energy services provider Lamprell (LAM) saw its share price take a big hit following the release of its annual results for 2020, which included a statement about the need to raise further capital via an equity issue – the exact amount and terms of which is yet to be announced.
When an AIM company changes its name it can often be to try and hide a dodgy past, generally where it has raised money consistently from shareholders but failed to actually deliver anything, but there are also times when it can signal a change to the business and a move in the right direction.
AIM-listed Yu Group (YU.) had its AGM this week. All the resolutions were passed, as one might expect, but the company talked of being profitable in the second half of last year and continued momentum from FY20 as 2021 got off to a good start. But profit – as we all know – is a matter of opinion; cash – where Yu’s dangers lie – is a matter of fact.
AIM-listed online ladies fashionwear purveyor Sosandar (SOS) has announced the placing I have long predicted, and a Primary Bid offering alongside. The fundraising, announced at 5pm yesterday – after hours, natch, was planned to raise £5.24 million at 20p per share and this morning it was announced that the placing and Primary Bid offer had closed, having been oversubscribed. My stance for the past few months has been wake me up after the next placing. So am I now a buyer?
Things were looking up at AIM-listed Rurelec (RUR) when I last commented here, but yesterday morning came bad news from Argentina. In honour of which our esteemed site editor has added a video to this article which will bring tears to your eyes. But first Rurelec and its news…
With apologies to Ian Hislop, seeing shares in AIM-listed jam-tomorrow (but never delivers) IoT Investment Company Tern plc (TERN) riding high suggests that either the market is now fully set for a big tumble or I am a banana. Tom Winnifrith was struck in yesterday’s Bearcast with the stock at 25p. But by market close they were sitting at an amazing 30.25p (mid) – an incredible 44% rise in one day for a company with last stated net assets (cash plus a portfolio of illiquid unlisted cash-hungry investments) of just 7.3p!
With the price of the yellow metal showing an improvement, having risen by the best part of $150 per oz since the March double bottom to reach $1831 at Friday’s close, the renewed enthusiasm has been reflected generally in gold stocks. And that includes AIM-listed Ariana Resources (AAU) which is now riding high at 5.2p. But my target is 7.5p.
AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) held its AGM yesterday and posted a bullish update – obviously containing no figures - and the BBMs went mad pushing the shares up. But for me the real news was the result of the AGM.
Around six weeks ago I covered the IPO of a small mining company called Caerus Mineral Resources (CMRS) and noted that it looked interesting for anyone who liked these small, speculative type of plays.
Centamin (CEY) has always been one of my favourite gold producers, and although I may not be as bullish as fellow ShareProphets writer Nigel Somerville, I still expect the metal to do well over the next few years.
Private investors are often looking to buy into companies where the share price has fallen, rather than those which are near all time highs, but in some cases that is the opposite of what they should be doing!
AIM-listed online purveyor of ladies fashionwear Sosandar (SOS) has offered up its full year trading update this morning. There is much to celebrate – particularly as this time last year the question might have been whether AIM-listed loss-making stocks would even survive! In fact the company seems to have made quite a success of the past twelve months as Covid restrictions closed the high street, giving online retailers a clear run. But is it all roses?
When it comes to Alaskan oil explorer 88 Energy (88E) the hype around its drills has always far outweighed the actual results that it has managed to achieve, as can clearly be seen if you look back at a chart over the past five years or so and the timing of the big gap downs in the share price.
There may be no limit to the stupidity of the lunatic fans of AIM-listed jam-tomorrow IoT investment company Tern plc (TERN) but the market’s early reaction to this morning’s FY20 results – a drop of 18% – suggests that you can’t fool all of the market all of the time. In short, the numbers are a calamity.
It was announced this morning that AIM-listed Catenae Innovation (CTEA) is to delay releasing its accounts to 30 September 2020 with the blessing of AIM Regulation, which has given the company until the end of June on the grounds of the Covid pandemic. I will come to this later, but we were also treated to a trading update……which was indeed a treat, if you are a bear.
The oil and gas market is quite hard to read at the moment, particularly when it comes to individual companies which are producing, as some have seen large share price rises whilst others barely seem to have moved despite the fundamentals appearing to be strong.
It’s not often that I take much notice of the smallest mining companies at the lower end of AIM, but every now and again one gets my attention as being worthy of taking a look at if you want to take a bit of a punt on shares in something more speculative than the popular producers.
The recent rise in the share price of 88 Energy (88E) has been very noticeable and it has held those gains so far in spite of the company putting out a statement that it knew of no reason for the rise, other than what had already been disclosed via RNSs.
When I last looked at fully-listed Hammerson (HMSO) last September, it had just raised money to, in effect, start again. But since then Bonkers Boris has locked the country up for a second and third time and as such there was simply no attraction for me to this property (lack of) income play.
Special Purpose Acquisition Companies (SPACs) seem to be the new buzz word in the UK markets at the moment, certainly amongst PIs on social media anyway, and it would also seem that a few AIM company directors are getting involved as well.
Newly (rushed) sub-Standard Listed Kanabo (KNB) has announced a cannabis production agreement with PharmaCann Polska, which is to supply cartiges containing Kanabo’s proprietry medicial cannabis for its VapePod inhalation device. The shares are up by 11% (last seen) on the news, to 20.5p – a long way off the ridiculous (ahem) high of over 40p at the IPO – valuing the company at some £47 million. That’s surely nonsense!
Quite often ShareProphets readers contact us asking for an opinion on a particular company, and I’m always happy to take a look – although there is no guarantee that the conclusions I come to will necessarily be what they wanted to hear about the company!
AIM-listed Haydale Graphene (HAYD) has offered up its interims to December 2020 today and whilst the company flags increased sales of functionalised inks graphene and points to falling admin costs and operating losses, these are on an adjusted basis. The unadjusted truth is that sales of £1.277 million were down from £1.347 million the previous year and the company lost £2 million in total comprehensive loss (although this is marked as being for the year – not that there was an cut’n’paste laziness!)
Pharos Energy (PHAR) has been one of the worst stocks that I’ve been invested in – not necessarily in terms of the share price performance, although that has also been awful, but more the way the company has been managed and the amount of money that I’ve seen them waste over the years.
When it comes to investing, I’ve always gone on the basis that you should always react to new information, not necessarily in terms of buying or selling, but certainly in assessing upside potential and risks – even when that emerges soon after you’ve made a decision as to whether or not a company is worthy of investment.
AIM-listed Haydale Graphene (HAYD) offered up a statement on Thursday telling of a sales representative agreement and a trading update. The former offered up visions of Tom Winnifrith’s (lack of) wooing Britain’s favourite chanteuse but the latter seems to me have been more a case of the dog that didn’t bark. What was the first elephant in the room?
Asiamet Resources (ARS) is a company that I’ve been a fan of based upon its assets, which look more attractive than ever at current copper prices, but currently I have some concerns as to where its share price might be heading shorter term.
On 10 July 2020, I published a devastating and detailed bear dossier on AIM darling Manolete (MANO) with the shares at 515p valuing it at more than £250 million. The company and its odious PR firm Instinctif responded with a pompous and unconvincing denial. I’ve warned you repeatedly since then and yesterday in the late afternoon came a shocking warning. The shares closed at 200p but as lies are exposed, worse, including a bailout placing, will come. So let’s start with the lies.
I haven’t commented on AIM-listed Cameroonian gas play Bowleven (BLVN) for some time – the last being back on 27 March last year when I asked are you brave enough to buy in the face of a big sell-off in oil and gas prices as the severity of the Covid crisis started to become apparent. The share price then was 2.17p in the middle and today’s news sees the shares up at 5.3p. I wasn’t brave enough to buy more….but my then existing holding is still there.
When I last wrote about AIM-listed Advanced Oncotherapy, at the end of October last year, it had just announced a placing at 30p per share to raise £7.7 million and my back-of-a-fag-packet suggested that despite the new money, it was placing ahoy. Well, yesterday that placing duly arrived with £6 million raised at a rather more impressive 40p. So will this be the last time the company passes round the hat?
I can understand why people aren’t rushing to invest in the travel sector currently as the situation looks very bleak with Covid worsening and further travel restrictions and lockdowns being added on a daily basis around the world.
Warren Buffett famously told us that those who rely on telling us about EBITDA are either trying to delude you or are deluding themselves. The first line of AIM-listed online purveyor of ladieswear Sosandar’s (SOS) trading update this morning tells us of a record quarter and continued substantial reduction in EBITDA loss. Hmph – not a good start, then, and the shares are off by 12% in early trading. But is there better to come?
Some time in the next week or so we should hear from AIM-listed Ariana (AAU) with another quarterly report from the Kiziltepe gold production plant in Turkey. Ordinarily I would suggest that it will come next week, but given the amount that is going on – especially with regard to the partial sale of assets to Ozaltin – Kerim Sener and his team might be forgiven if it takes a little longer. But with the stock having closed at just 5.05p in the middle on Friday, what news might we expect?
EnQuest (ENQ) is a company that I have followed for a long time and have previously been invested in myself, but over the past few years its shares have performed terribly and has never really recovered from the previous oil price slump, which bottomed out in 2016.
Tom Winnifrith ate his hat over Red Rock Resources (RRR), so it is only fair I ‘fess up – my list of five slam dunk sells for 2020 was, ahem, less than successful – mainly down to the performance of AIM-listed Catenae Innovation CTEA) which put on a whopping 140%, and AIM-listed URU Metals (URU) rubbed my nose in it further with a rise of 54%. So was I wrong?
Sub-Standard-listed AIQ has had a chequered history since it floated on the London Stock Exchange courtesy of Andrew Monk and VSA Capital. The founding executive directors’ full details had not been correctly disclosed, there was the mother of all shambles as IPO share certificates failed to arrive in a timely manner and at the same time a buying frenzy – perhaps by people who thought there was a relationship to Mama Captain (denied), the stock spent most of its first four months as a listed entity suspended and even a placing to address the IPO shambles was messed up. Meanwhile, the stock was trading (when not suspended) at a ridiculous premium to cash, with no business.
The good news is that we did not have to wait until after-hours on New Year’s Eve for the latest set of Interim Results to September from AIM-listed John Zorbas POS URU Metals (URU). But the numbers are, as predicted, truly awful – it is Red Flags ahoy from this technically insolvent joke company.
Just over a year ago I covered a ‘mining’ share as a speculative buy, and it was very different to the natural resources companies that I normally cover, as it was mining Bitcoin rather than any metal or other commodity.
People often try to tell me that it isn’t possible to make money by actually investing in AIM oil and gas companies and that they are only worth trading, but I would have to disagree based on some of those that I’ve picked out over the years as having long term potential.
AIM-listed jam-tomorrow (or never) Internet of Things investment company Tern plc (TERN) has seen its shares continue to crater – the shares are now, at 6.7p, well below the last placing price of 7.5p. Meanwhile investee FVRVS Limited (Fundamental VR) has filed its 2019 accounts……and…..oh dear!
As any regular readers here will know, I’ve been a fan of Serica Energy (SQZ) for many years and during that time have watched it grow into a mid-tier oil and gas producer, and I believe that now is the time to consider investing in the company once again.
This year a lot of private investors seem to have been focussing on any stocks even loosely associated with Covid, plus those in the tech sector, and more recently mining has also seen a resurgence, gold in particular, but oil and gas has very much remained unloved and out of favour. That gives you a great opportunity and this is no fisherman’s tale…
Fully-listed Egyptian Gold-producer Centamin (CEY) has released RNSs showing that its top brass have been dipping into their own pockets to buy its shares in the wake of last week’s updated mine plan. As discussed HERE and HERE there is plenty to suggest that the offering of a very attractive dividend has much to commend the shares and now Chairman James Rutherford and CEO Martin Horgan have shown the way.
Fully-listed Golden Prospect (GPM) has announced that the Subscription Trustee has exercised all the outstanding subscription shares for Golden Prospect (GPSS) and raised £4.77 million for the company as a result. Good news for the company, and perhaps a little good news for former holders who did not pony up the 46.14p per subscription share to convert into ordinary shares – although we will have to wait and see just how much will be returned to former subscription shareholders, as we are not told. But it is not such good news for ordinary shareholders who will be diluted and thus the potential NAV per share as of Tuesday night drops from 67.56p to 60.43p.
Another little bit of good new today from AIM-listed Turkish gold-producer Ariana Resources (AAU) adds to the investment case here. It has agreed to sell the satellite projects around the Kiziltepe processing plant to the joint venture for $2 million, payable over 20 months, conditional on the completion of the dealt to bring Ozaltin into the joint venture currently involving Ariana and Proccea.
The last time I looked at online ladies wear purveyor, AIM-listed Sosandar (SOS), my conclusion remained wake me up after the next placing. Will it be any different this time?
RockRose Energy (RRE) was one of the real success stories amongst AIM listed oil companies prior to being taken over for nearly £250 million, and now its executive chairman, Andrew Austin, has made a return to AIM with a new venture which listed last week.
These days I generally tend to avoid taking risks on oil exploration drills, but on occasions I still can’t resist taking a position, of a size that reflects that risk, and when the drill looks particularly interesting.
At 6.22pm on Friday – no-one-is-watching o’clock – AIM-listed Immunodiagnostic Systems (IDH) released its Interim results to the end of September. Getting the numbers out in November seems a decent enough effort, but why on Friday night when everybody has gone home for the weekend? My first thought was to wonder what they are hiding……
Buying shares in a large company which seems to be going through a rocky patch is always a risk, as in some cases these companies never actually manage to recover, but if you do get it right it can be very lucrative and Covid appears to have helped to create some good opportunities. Energy provider, Centrica (CNA) has performed terribly over the past six or seven years and anybody who has held it as a long term investment during that period of time will be sat on a sizeable loss. Even prior to the arrival of Covid it was already in a downwards spiral with high levels of debt and falling profitability, but the virus accelerated that and even though the markets and many energy shares have recovered to some degree in recent months, Centrica is still trading closer to the lows with a share price of 44.8p…
AIM-listed and due for an imminent placing Yu Group (YU.) released a Director Dealings announcement this morning. Given that it has already admitted it needs more cash, my spoof sensors were set ablazing.
AIM-listed jam-tomorrow investment company Tern (TERN) has seen its shares come crashing back down again: there is still no news from Wyld (quelle surprise) and another stack of cash has headed off to the great computer in the sky over at Device Authority – not that Tern has announced that either. Having raised £1.5 million back in July, I wonder how much cash will be left over by Christmas.
AIM-listed Advanced Oncotherapy (AVO) has announced a fundraise at 30p to raise £7.7 million (before expenses) – as predicted HERE by yours truly. Time for another glass of Ouzo, methinks.
Back in August I wrote about Shanta Gold (SHG) as being worth a look at around the 16p level, and with a chance of a good profit over the coming months.
Looking through the leaders and laggards for today I see that TSX-listed (VLE) and Standard-listed (VLU) Valeura is having a good day, with its shares up by 23% last seen. This is on the back of an agreement to sell shallow conventional gas assets in Turkey for $15.5 million and up to $18 million. With apparently $31 million of cash on its balance sheet as at 30 September and no debt, the market capitalisation sits at just £21 million (according to ADVFN). So it is a buy, right? Or is it?
Unexpected negative events, especially geo-political ones, can present great buying opportunities at times, as the market tends to severely over-react, even when there is no immediate specific impact on a company itself.
This morning AIM-listed Catenae Innovation plc (CTEA) has issued two RNSs covering a new joint venture with BHA Medical – to which is it issuing 10 million warrants at 2.5p, and a further 2 million warrants at 2.5p to “other parties”….whoever that may be. Catenae’s shares are up to 2.8p on the news, so BHA and person or persons unknown are already in the money.
Currently you could easily argue that there is a longer term investment case for numerous oil and gas producers, based on the assumption that commodity prices will improve over the next few years, and could even spike in the same way that we’ve seen in the past after prolonged periods of low demand.
AIM-listed Catenae Innovation (CTEA) is rapidly losing its Covid appeal. Having ended the pre-Covid period at around 0.26p per share, the company jumped on the Covid bandwagon and saw its shares roof it to peak at over 9p. But since the end of August Catenae’s lustre had dulled and now the shares are at 2.3p. It seems that what goes up must come down and as such there seems to be a long way to go. One reason could be related to its bandwagon Onsite-ID App, which we were led to believe would see some results as part of Newcastle Premier Health’s Access Planning Control. So what has happened? On 25 August we were told:
Once again AIM-listed online ladieswear purveyor Sosandar (SOS) has offered up a trading statement which at first glance looks extremely positive. But once again, there are also questions……
Share in AIM-listed jam-tomorrow investment company Tern plc (TERN) ended last week at 7.7p – a 10% premium to the last stated net asset value per share of 7p. It was a better week, having seen the share price hit a low point of just 6.25p at the beginning of September. Of Tern’s net assets of £20.1 million at the interim stage, its principal investee Device Authority (DA) accounts for £13.8 million – or 68.7% and last week DA’s accounts appeared at Companies House. Oh dear……
AIM-listed Block Energy (BLOE) seems to have made a pretty decent effort at addressing the problems I raised HERE. On Thursday, an RNS appeared which seems a pretty good overview of where things are and announced the departure from the board of NED and former technical director, Mr Roger McMechan…
Former cash-hungry Woodford dog, AIM-listed Eve Sleep (EVE) has released its interims this morning. On the face of it there is plenty to cheer but a deeper look still offers plenty to worry about for shareholders.
Hurricane Energy (HUR) promised so much but it looks like it will end up joining the long list of failed companies in the natural resources sector following recent updates, including the interims today.
I have warned and warned and warned that AIM-listed Haydale (HAYD) needed more money and having jumped on the Covid-Bandwagon at the beginning of July and seen its shares slide from 8.45p on 20th August to last night’s close at just 5.1p, this morning the company announced a bookbuild at just 3.5p to raise £3 million. The only question is whether it should be Ouzo on my Cornflakes or my Rice Krispies.
Previously writing on SRT Marine Systems (SRT), in July with the shares at 37p I concluded I continue to wait for some meaningful net cash generation to be shown before reconsidering my decision to avoid. The shares last closed at 41.5p, but are currently back below 37p on the back of results for the company’s year ended 31st March 2020…
Gary Newman was – quite rightly – never a fan of AIM-listed oiler Block Energy (BLOE) – despite its apparently large fan-base on the Bulletin Boards. Now, it seems as though some shareholders – apparently representing around 20% of the stock – have had enough. I gather they want to know what is going on, but can’t seem to get management to engage. Given the apparent shambles, it is hardly surprising.
AIM-listed online womenswear outfit Sosandar (SOS) has announced its full year numbers to March. Whilst revenues were up to £9 million from £4.4 million, losses were also up at £7.8 million against £3.5 million last time. With a market capitalisation, following this morning’s share price gain to 18.75p, sitting at £31 million, that seems a pretty juicy rating. But things have changed as Covid-19 smashed retail in the high street and online did rather better. How are things looking now?