UK 08:51 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It was all so predictable. On 6 January African Potash (AFPO) issued an RNS which was both utterly pointless but also just about credible enough to have the Bulletin Board Morons/Zak Mir frothing. The morons ploughed into the aftermarket - not noticing that the RNS was in fact just confirming that part of a deal already announced several months prior had been completed but that no financials were revealed - paying up to 2.1p per share. The crony capitalists said "thank you very much cannon fodder" on the back of the pump and today came the dump... a placing raising gross proceeds of £825,000 at just 1.7p. However...
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Comments
wildrides
The evil money grabber wife scam ……….. one of the best red flags . You know when corperate governance gets really bad their must be a related spouse or several in the background driving the distorted sense of fiduciary fare play . You can hear her now if you listen hard enough “ oh you work so hard darling , its only fair that you get a good perk for the loan “ “ no one works harder than you darling “ After a while they start to believe their own hype .
You should have a compo :- Best related party spouse perk league table.
Gary Newman
Totally agree and still can’t see where the value is here at current market cap – I’ve been totally wrong on this one in terms of where the SP has gone, but still haven’t really changed my opinion that much on the MOUs etc. Doesn’t the Comesa deal also have a minimum requirement for what they deliver, and thus far don’t look to be on target to achieve that.
I also don’t trust the fact that they’ve used terms like ‘gross revenue’ in a previous RNS – I’m no accountant (although did a few modules at uni as part of my degree) but pretty sure that isn’t a recognised accounting term! Looked like just a way of including the large number and suggesting that was what the company was getting from this one deal – why not just use ‘revenue’ if that’s what they meant.
Good job really that it is illegal to forward sell any of those placing shares prior to the RNS coming out and something like that could never happen on a highly regulated market like AIM which heavily penalises any wrong-doing…
Simple Moving Avarice
Last time they raised cash (from the FD’s wife) apparently to help them bridge the gap until they had a revenue stream, the thought of all that cash in their account weighed so heavily they felt the need to make a highly speculative, quite unnecessary, and very high risk, “investment” in a tiny stock with little relevance to their main business.
So now they’ve got a bit more cash just lying around burning a hole in their pockets I suggest they pop out and place $100K on ‘red’ at Caesar’s Palace. The risk/reward profile is certainly no worse, and I am sure that Chris Cleverly can negotiate a comped hotel room for the trip.
turbograndad
Yes, no mention of profit, just generalized numbers of size and scale, profit well after all the deductions to various parties, is there any, I doubt it.
Rather, “hay Fawlty don’t mention the war, nudge nudge.”