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Notes from Underground – Most read articles for the week ending 3 March

By Darren Atwater | Sunday 3 March 2024


Here are the most read articles and the most listened-to Bearcasts over the past seven days. The most read non-Quiz, non-Tom article last week is Steve Moore with EnSilica – interims argue ‘supportive’ strong new order momentum, but what about balance sheet support? at No 3 or No 11 including Bearcasts. 

The most-read ShareProphets articles this week were:

  1. OptiBiotix – long-winded “Strategic and commercial update”, but various positives suggest still a Strong Buy with target price increased
    OptiBiotix Health (OPTI) has issued a “Strategic and commercial update” announcement. There are various positives in the long-winded announcement and the shares have currently responded more than 11% higher to 25p, but that’s still below levels of even early this month and we’d have preferred a much more to-the-point announcement of financials and orders news. However, having spoken to CEO Stephen O’Hara, we believe significant progress is being made on those to mean significant potential from the current £22.8 million market capitalisation.

  2. Three months is too long to take the piss: another letter to AIM Regulation about musicMagpie
    It is now more than three months since musicMagpie (MMAG) declared that it is an offer period. The initial bidders, solicited by Magpie, both walked within days appalled at what they found. The whole industry know that trading is weak and Magpie’s banks are shitting bricks yet Magpie keeps up the pretence. I have again written to the Oxymorons, how long will they allow Magpie to tale the piss?

  3. EnSilica – interims argue ‘supportive’ strong new order momentum, but what about balance sheet support?
    Describing itself as “a leading chip maker of mixed-signal Application Specific Integrated Circuits”, EnSilica (ENSI) states that it “is pleased to announce its unaudited results for the six months ended 30 November 2023” and headlines them with “Strong new order momentum supports growing order book and new business pipeline”. So what of a current approaching 30% higher share price response to around 65p?

  4. Shanta Gold – late “adjournment” of Meetings to approve offer, why not providing what the shareholders “feedback” was?
    On 20th December Shanta Gold (SHG) was “pleased to announce” agreement of a 13.5p per share cash offer, arguing “it provides an exit opportunity in cash for all shareholders taking into account the current gold price as well as the operational and other risks inherent in the business” and, subsequently, to approve it, there was a Court Meeting scheduled for 1pm, and General Meeting for 1:15pm, today. Instead though today there was a 7am “Adjournment of Court Meeting and General Meeting” announcement, stated to be “following feedback received from Shanta shareholders in connection with the Scheme”. So what’s going on?

  5. UPDATED GOTCHA! Avacta placing at just 50p! Its most hated critic, Tom Winnifrith (the Sheriff of AIM), vindicated yet again!
    The shares closed Wednesday 28th down yet again at 74.4p and then, after hours, came the bombshell I warned folks about repeatedly but which Bulletin Board gerbils were in denial about: a placing at just 50p. Expect the sound of timber collapsing and gerbils squealing first thing. As the most hated of the Avacta (AVCT) bears, I shall enjoy a sober celebration at Sheriff of AIM Towers. Schadenfreude is the order of the day.

  6. The View From The Montana Log Cabin: The Big Gold Yawn Continues And Ariana
    Gold ended the week at $2,035. Having survived the test of $2,000 the previous week, the metal is now trying the upper end of a diminishing trading range but I fear that the big yawn is set to continue for a while yet.

  7. Skinbiotherapeutics sends email to clarify forecasts and cash spunk on Dermatonics: the FD is an idiot
    As you may know the idiot Nomad Giles Baleny at Cavendish has banned Skinbiotherapeutics (SBTX) from doing podcasts behind paywalls citing a made up AIM Rule against providing information that is not open source. Whatever, he is a lying bellend. But apparently Skin’s FD Manprit Randhawa is allowed to send private emails, cc’ing in the bearded poltroon Ashman, to individual investors. Just how open source is that Giles you knob? One such email has arrived at Winnileaks and I reproduce it below with my comments in bold.

  8. The ShareProphets Sunday Pub Quiz #229
    It's time for the ShareProphets Sunday Pub Quiz.. There are no prizes! And remember, no Googling!

  9. Jubilee Metals – interims, an exciting expansion and recovery potential Buy
    Jubilee Metals (JLP) has announced its results for its half-year ended 31st December 2023 and that an upgrade project is set to significantly increase copper production during the current half year period. So good news from a recently down towards 5p share price?

  10. EnQuest is reducing debt steadily and is considering a return to dividends - BUY
    Despite the threat that a Labour government poses to the UK oil and gas industry, I still see opportunities for producers in this sector to perform well, and I particularly think that EnQuest (ENQ) is worth a look. Here's why!

The most-listened to Bearcasts this week were:

  1. Tom Winnifrith Bearcast: What a good Welshman like Steve O'Hara will be doing on St David's Day tomorrow
    The answer starts the podcast as I also discuss what Joshua and I have planned. Then it is on to Avacta (AVCT), Hemogenyx (HEMO) and stockmarket morality, Tek Capital (TEK), BSF Enterprises (BSFA), Blackbird (BIRD), Tintra (TNT) and finally Skinbiotherapeutics (SBTX) where, I sense, Stuart Ashman and his greedy and overpaid FD are on the way out.

  2. Tom Winnifrith Bonus Bearcast: Buy, sell or hold Kefi Gold & Copper at 0.85p
    The title is self explanatory, this podcast is nearly all about Kefi Gold & Copper (KEFI). I also mention Ariana Resources (AAU) and Amaroq (AMRQ)

  3. Tom Winnifrith Bearcast: recording a video with Lucian, insider dealing at Direct Line and why today's news is a resignation matter for the greedy, bearded, Geordie, poltroon Ashman
    I start with the Lucian video.I hope to record one with Steve O Hara later this week and to put the whole show live this weekend. I then discuss AIQ (AIQ) and the problem it shows about the whole Standard List, Direct Line (DLG), the bid and the insider dealing, BSF Enterprises (BSFA), St James Place (STJ) and screwing customers and why Stuart Ashman should quit after today's news from Skinbiotherapeutics (SBTX). Over on my own website there is, I think, an interesting podcast on Ukraine/Russia/The UUS elections , what is happening, will happen and why they are linked. You can listen to that HERE.

  4. Tom Winnifrith Bearcast: Following ouzo man, Lucky Luke Johnson and telling Steve O'Hara to sack his PR gophers
    In today's Bearcast I look at Avacta (AVCT), where ouzo man joins the bear's picnic, Regtech Open (RTOP), Hydrogen Utopia (HUI) and a tough google search, UK Oil & Gas (UKOG), Optibiotix (OPTI), Tortilla Mexican (MEX) and Lucky Luke and Chill Brands (CHLL) where i reinstate a target price of 0p. 

  5. Tom Winnifrith Bearcast: fraud or just big red flags?
  6. In today's Bearcast I discuss St David's Day celebrations and how I was robbed with my Bara Brith here in Wales, the person from Porlock and my video with Optibiotix (OPTI), Skinbiotherapeutics (SBTX), Investment Evolution (IEC) and hopeless regulators, Vast Resources (VAST), Bidstack (BIDS), Orchard Funding (ORCH), FD Technologies (FDP), Avacta (AVCT), Petrofac (PFC), Harland & Wolff (HARL) and my trip tomorrow to see daughter 2 win her Cambridge Blue

  7. Tom Winnifrith Bearcast: I disagree with Malcolm and you may say I'm a fat bastard but I am winning
    I start with my weight and blood sugars and I'm feeling quite proud of myself. Then it is Empiric Student Properties (ESP), Centamin (CEY), the Tingo (TIO) fraud and Audioboom (BOOM)

  8. Tom Winnifrith Bearcast: Yes no change on Avacta, it's still a stonking short on 2 counts
    In today's podcast I discuss Guild ESports (GI:LD) and regulatory failure and in the same vein Deepverge (DVRG) and the fraud Supply@ME Capital (FRAUD), Hydrogen Utopia (HUI), Invinity Energy (IES), Sosandar (SOS) and Avacta (AVCT)

  9. Tom Winnifrith Bonus Bearcast: with Luke Johnson on Board Tortilla Mexican is a 10 bagger said the twitter moron with 39 followers
    Rollout is not that simple. I explain why this poltroon is making wildly overoptimistic assumptions with regard to Tortilla Mexican (MEX). I bet even Luke Johnson agrees with me not the poltroon.

  10. Tom Winnifrith Bearcast: reporting back from Varsity basketball and the Skins FD is a total effing idiot
    I am trying to upload this at a service station on the MI on my way back from Cambridge and watching daughter 2 win her basketball blue. I report on that and then discuss why today's Skinbiotherapeutics (SBTX) Winnileaks special is so damning Nomad Giles Bellend at Cavendish, FD Manprick and hapless CEO Stuart Ashman.  
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