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Notes from Underground – Most read articles for the week ending Feb 22

By Darren Atwater | Sunday 23 February 2025


 


And yet again, Nigel Somerville is the most read non-Tom article, at number 2 or number 2 including Bearcasts for The View From The Montana Log-Cabin As Gold Hits Another New High And Then Retreats.

The most-read ShareProphets articles this week were:

  1. The View From The Montana Log-Cabin As Gold Hits Another New High And Then Retreats
    Gold closed the week at $2,882 – a decent enough rise from last week’s $2,860, but having reached $2,942 it was a bit of a disappointment. The miners also ploughed on higher, but the too suffered late in the week as can be seen on the chart below of Gold against the Gold mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers).

  2. Castings – “substantially below market expectations”, argues currently some recovery but how much will be delivered?
    Most recently writing on iron casting and machining company Castings (CGS), in August with the shares falling towards 320p I concluded that ‘there is still likely strong balance sheet support but, with demand “potential for a slight increase in the autumn” now already to that “unlikely… before at least early 2025”, the trading trajectory suggests it prudent to continue to avoid’. The shares most recently closed at 288p and what about them currently further down towards 250p on the back of a “Trading Statement”?

  3. SEEEN – argues “turned an important corner”, but how significantly so really?…
    Describing itself as a “global media and technology platform”, SEEEN plc (SEEN) has issued a “Trading Update, Contract Win and Presentation”-titled announcement emphasising that it “has turned an important corner and the board expects to have a strong 2025 and beyond with scalable growth”. How does that compare to a currently 38.5% higher share price to 4.5p?

  4. Touchstar – trading better than most recently expected and “conclusion of strategic review”, Buy
    Mobile data computing and managed services company Touchstar (TST) has issued an announcement including that it has determined that proposals received under its ‘strategic review’ “do not meet the level deemed to be in the best interests of the shareholders… the Strategic Review has now concluded” and that its trading performance “has enabled the financial performance for the 12 months ended 31 December 2024 to be better than management had expected… positive about the company's prospects for 2025”. So what about this from a currently up to 90p share price, £7.4 million market cap?

  5. Tracsis – emphasises “major contract win”, but how ‘major’ and how’s the previously-stated “near-term variability in customer activity”?
    Transport technology company Tracsis (TRCS) has announced “it has signed a multi-year contract… to implement the core Tap Converter system that will power pay-as-you-go travel in urban areas across National Rail”. With the announcement also including that “there is no change to the board's expectation for the year ending 31 July 2025 following this contract win”, what of a current more than 16% higher share price response to 420p?

  6. Georgina – more delays, bad news buried, for financial masochists only, target 0p
    Back on 10th January I forced the lying tea leaves who run Georgina Energy (GEX)into admitting that pre Christmas statements made via RNS about getting drilling permits at Mount Hussar were blatant porky pies. At that juncture we were told that Georgina, which is technically insolvent, was now expecting permits within 60 days. Today we have another ‘fess up.

  7. Panmure Liberum note on Ariana after site visit to Dokwe: elephants in room not covered, so research pointless
    A lot of folks have emailed me about the note below saying how bullish it is for Ariana Resources (AAU). Whatever you say. But it is what the note does not cover that makes it a worthless piece of crap.

  8. Do folks realise the crisis in the lithium market? Three small caps to be whacked!
    I suspect that many folks out there who have sucked the Green hopio thanks to the Doom goblin, the BBC, Ed Milliband and our own Malcolm Stacey probably think lithium is the place to be. In fact it is an (electric) car crash that is far from complete. Lithium prices have fallen by some 80% since late 2022 but worse will be to come.

  9. As Biome becomes the latest dog to leave the AIM sewer you have to question any company joining: meet Aussie howler Wellnex
    Shares in Biome (BIOM) have plunged 60% to 1.5p as it has announced that it is set t leave AIM. The reasons are the usual ones cited: lack of liquidity, Mr Market not valuing it fairly, can’t raise capital, costs. So Biome is going private where it reckons it will flourish or it may just die away from the publicity of public markets. We hear this story almost every day so why would anyone want to list on AIM?

  10. Wood Group CFO shows Rachel Reeves what operating at the highest standard means
    After years of awful Tory sleaze, Sir Keir Starmer promised that his Government would operate at the highest standard. In that vein I note the resignation of Wood Group (WG) CFO Arvind Balan.

The most-listened-to Bearcasts articles this week were:

    1. Tom Winnifrith Bearcast No 1: Peter Hambro, Russia, Trump, gold to treble and Ariana
      The podcast is exactly what it says on the tin!

    2. Tom Winnifrith Bearcast No 2: Yes Amaroq is still cheap and the broker targets are duff, Andrew Bell needs an RNS now!
      I start with Red Rock Resources (RRR) then it is Amaroq (AMRQ), Skinbiotherapeutics (SBTX), Petra Diamonds (PDL) and why Marechale (MAC) needs to fess up ASAP and could be a zero. 

    3. Tom Winnifrith Bearcast No 2: How I look forward to selling Kefi to avoid any more grief, but not yet
      In today's podcast I look at Atlantic Lithium (ALL) which is shortable and must be a potential bear, Oracle Power (ORCP), Supply@ME Capital (FRAUD) and Kefi Gold & Copper (KEFI)

    4. Tom Winnifrith, again feeling as if I have walked into a hornets nest
      I discuss my health ahead of another Shipman visit, Optibiotix (OPTI), Technology Minerals (TM1), Critical Metals and disgraced Neil Woodford and finally Thereacryf (TCF).

    5. Tom Winnifrith Bearcast No 1: On being too cynical, Bluebird and Skinbiotherapeutics
      Sometimes one can be too cynical. In the first of today's bearcasts I discuss news on Bluebird Mining Ventures (BMV) and speculation on Skinbiotherapeutics (SBTX)

    6. Tom Winnifrith Bearcast No 1: Chatting to Steve O'Hara
      En passant it is Skinbiotherapeutics (SBTX) again but then chatting to O'Hara to put numbers on today's Optibiotix (OPTI) news and also about Morepen where is comments are exciting

    7. Tom Winnifrith Bearcast: a culture of accepting dishonesty
      I start with the Rugby tomorrow and a difficult day for Joshua and myself. then Probiotix (PBX), UK Oil & Gas (UKOG), an Aussie dog coming to AIM, a couple of examples of political dishonesty and the screwing of working class young folk and finally Videndum (VID). 

    8. Tom Winnifrith Bearcast No 3: Neil Woodford's duff calls on wicked shorters shown for folly as Critical Metals shares plunge ( again) on Friday
      I discuss a couple of the moronic observations made by disgraced Neil Woodford abut the malaise in small and mid caps. I reference what is going on at Nasdaq horror show Critical Metals Corp, how it crushes Technology Minerals (TM1) but, more importantly, what it shows about the Woodford thesis.

    9. Tom Winnifrith Bearcast No 2: Skinbiotherapeutics and its NDA and what makes a strong shareholder listI start with an observation ( supportive) and a question about Tesco (TSCO). then a few thoughts on why interest rate cuts will not necessarily drive growth. Then Skinbiotherapeutics (SBTX) and its Croda NDA. Finally, prompted by PL, what makes a strong shareholder list? 

    10. Tom Winnifrith Bearcast No 1: Very Happy with Probiotix but this options plan looks like insider dealing
      I am happy with the news out of China. I think that shares in Probiotix (PBX) will at least double or treble on a three year view and could multibag. But an options plan announced today stinks. If directors could not deal in shares without insider dealing how could they set an options plan strike price?

    11. Tom Winnifrith Bearcast No 2: FFS Rules are frigging rules!
      In today's bearcast I discuss Probiotix (PBC), diversity failings, Petra Diamonds (PDL) and Ceres Power (CWP), a bubble bursting and how history suggests you now value such stocks.

    12. Tom Winnifrith Bearcast: Kefi shares are very cheap but I will not write about it anymore, JD Vance is correctI am proud of the way my family have battled for free speech, especially today as the Daily Mail covers how my grandpa rooted out Russian spies HERE. But it is not the laws of Europe that threaten free speech now and in that vein, as JD Vance explained last week, I am not going to write about Kefi Gold & Copper (KEFI) again. Steve will but I shall not say a word. I explain why. The shares are very cheap but at this stage of life I just cannot be arsed to stand up to liars and trolls when I speak the truth. I also look at ESG funds and the bursting bubble

    13. Tom Winnifrith Bearcast No 1: 8 years of red flags at Hemogenyx
      In the end this will be a zero. I go back to the first days on the London market of Hemogenyx (HEMO). the red flags were there from day one eight years ago. Anyone holding is nutso.
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