Another great day for the world’s most successful fraud market, oops I meant growth market. Over on the AIM Casino the problems mount for Urals Energy (UEN). We had been told that $3 million had been loaned out in an unauthorised manner by its 98.56% owned subsidiary JSC Petrosakh. Think again, it is $5.1 million and it looks as if none of that is coming back so there is a looming $4.5 million cash crunch. Uh Oh! Timber!
Hello Share Pushers. Sure, Russia isn’t the flavour of the month following the hoo-hah about the allegedly poisoned ex-secret agent and his daughter. But my humble experience of companies operating in countries which are currently controversial is that the share price can be held artificially low. And the effects of all news stories don’t always last forever.
Whatever ones view of Urals Energy (UEN) as an investment its corporate shenanigans are, at least, highly entertaining.
Whatever ones view of Urals Energy (UEN) as an investment its corporate shenanigans are, at least, highly entertaining.
It is now been almost two and a half years since the glory days of Ural Energy when the shares were trading at 18p plus at the beginning of 2011. The issue now is whether after what seems like an interminable period of unwinding/ de- ramping and a general imposition of misery to the bulls, the time has finally come for a sustained turnaround and a possible retracement of what has been lost?






