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Notes from Underground – Most read articles for the week ending Mar 15

By Darren Atwater | Sunday 16 March 2025


 


And yet again, Nigel Somerville is the most read non-Tom article, at number 1 or number 1 including Bearcasts for The View From The Montana Log-Cabin As Gold Crosses An Important Line.

The most-read ShareProphets articles this week were:

  1. The View From The Montana Log-Cabin As Gold Crosses An Important Line
    Gold closed the week back above $2,900 at $2,911 – a good bounce after the drop to last week’s $2,857. Perhaps more importantly, the miners climbed quite strongly, as can be seen on the chart below of Gold against the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers), suggesting that Mr Market’s appetite is finally getting more positive. But perhaps the biggest story is that according to our favourite technical analyst, Jordan Roy-Byrne of TheDailyGold.com, Gold has breached a line in the sand, outperforming the standard 60-40 portfolio - a development he has long held as critical to fire up the yellow metal.

  2. Clarkson – 2024 results argue “complex backdrop” means its opportunity “remains significant”, but current “phase of change” means “markets have softened”!
    Describing itself as “the world's leading provider of integrated shipping services”, Clarkson (CKN) has announced its results for the 2024 calendar year including emphasising “another record underlying profit before taxation” and “forward order book as at 31 December 2024, for invoicing in 2025 was US$231m (31 December 2023: US$217m). Strong balance sheet with free cash resources of £216.3m (2023: £175.4m)”. So what of a currently more than 17% lower share price response to 3650p?

  3. Ricardo – interims, catalysts suggest now a recovery Buy
    International ‘strategic, environmental, and engineering consulting company’ Ricardo (RCDO) has announced results for its half-year ended 31st December 2024 emphasising “although we have experienced some market headwinds in the first half, which impacted the timing of orders, we delivered an improving operating profit performance year-on-year”. So are the shares cheap now at a 220p share price?

  4. Vesuvius – 2024 results, remains a recovery and income Buy
    Molten metal flow engineering and technology company Vesuvius (VSVS) has announced its results for the 2024 calendar year and that it currently anticipates its 2025 trading profit will be at a broadly similar level to 2024 on a constant currency basis and with cashflow significantly ahead of 2024, benefitting from a working capital focus and a more normalised level of capex. Is that discounted in an around 400p share price?

  5. IG Design – “Completion of Distribution Facility Sale”, but also how’s second half of the year trading impacted the balance sheet?
    ‘Celebration and creative’ products group IG Design (IGR) has issued a “Completion of Distribution Facility Sale” announcement. What’s the impact of this sale and what does it suggest from a current 60p share price comparing to above 150p at the start of 2025?

  6. GenIP: Evil Banksta has a rant, warns to avoid like the plague & comments on the Hornby delisting
    Liverpool’s greatest numbers man since Ken Dodd is angry. Very angry. He writes:

  7. DFS Furniture – interims emphasise growth from “compelling customer proposition & strong operational execution”. Meaning from its interest-free credit offer?…
    UK and Ireland furniture retailer DFS (DFS) has announced results for its half-year ended 29th December 2024 headlined “Compelling customer proposition & strong operational execution drives profit growth. Upgrade to full year profit expectations”. So how good are the results and outlook from a currently up to 146p share price?

  8. Distil – strategic review ‘to determine how best to help deliver long-term shareholder value’. It means as there’s “cash requirement” AHOY!
    Most recently writing on alcohol drinks brands company Distil (DIS), in January with the shares down to 0.10p I concluded still a trading and financial concerns avoid/sell. The shares most recently closed at 0.0825p and what about now a “Trading update and review of strategic options” announcement and the shares currently further down at 0.07p in response?

  9. DYNAMITE EXPOSE: Powerhouse Energy seeks to bamboozle its own shareholders
    Last Tuesday Powerhouse Energy (PHE) held a Capital Markets Day at its facility in Bridgend, South Wales. As tempting as the offer to visit Wales was I didn’t attend (but I look forward to seeing all of you at Tom’s Welsh hovel in September). Judging from the photographs and videos in the Telegram Group, about 40 investors attended to watch Powerhouse demonstrate its Distributed Modular Generation (DMG) Waste to Energy technology. The demonstration was a failure!

  10. Trustpilot just shows that it cannot be trusted: it finally posts a "warning" about mini bond fraudsters The 79th Group
    A week after the City of London fuzz announced that looking at a "widespread fraud" it had launched Operation Mold, arrested and charged 4 employees of 79th Group and asked for other victims to come forward, Trustpilot (TRST) which has been a platform for rave reviews for the fraudsters has posted a warning. Well sort of.

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

    1. Tom Winnifrith Bearcast: I don't like being lied to and the Optibiotix jam tomorrow debate
      I start on how I do not like the media and political class GroupThink lying to me. Then it is why there is no rush to buy gold stocks yet. Then Amaroq (AMRQ) and Ananda (AND) vs Optibiotix (OPTI), Skinbiotherapeutics (SBTX) and Probiotix (PBX) debating jam tomorrow with reader Daniel.

    2. Tom Winnifrith Bearcast: when's the next bad news from Invinity and will it go bust?
      I start with the fallacy of foreign aid and soft power and how that ties in with the bursting green bubble. I reference Mann vs Steyn, the tide is turning!. The it is AFC Energy (AFC), Invinity (IES), also a stonking sort, Ethernity (ENET), how Roquefort (ROQ) shows the culture of forward selling placements with market maker involvement and finally Eurasia (EUA) a mad valuation.

    3. Tom Winnifrith Bearcast: any questions you have for Britain's Buffett (v1)
      Tomorrow I am off to London for only the second time in six year to have lunch with Nigel Wray. Do you have any questions for Britain's Bufett ( one of three)? I then discuss Optibiotix (OPTI), Chill Brands (CHLL), Probiotix (PBX), Synairgen (SNG), Roquefort (ROQ), Hemogenyx (HEMO) and CXavendish (CAV)

    4. Tom Winnifrith Bearcast No 2: as Evil Banksta exposes Powerhouse as a zero in waiting, I flag up smelly red flags at Roquefort and Trustpilot
      I start with Trustpilot (TRST) and the ratings for Evri and Everi, do you smell a rat? Trustpilot is a stonking £1.2 billion short. Then Powerhouse (PHE) which you can also short to zero, Optibiotix (OPTI) and i am being objective and, I believe, balanced. Finally Roquefort (ROQ) and today's red flag strewn news: is that a fake sheikh I spot?

    5. Tom Winnifrith Bearcast: Lunch with Nigel Wray, skin in the game and gold hits record high
      I discuss the Asda meal deal scam, my day in London, a day of virtue and thus a good blood sugar reading and encounter with the Shipmans today, Nigel Wray's biography and lunch with him yesterday, Belluscura (BELL), Sosandar (SOS), Hornby (HRN) Distil (DIS), Georgina Energy (GEX), Brroks MacDonald (BRK), a record gold price, bitcoin and Golden Prospect Precious Metals (GPM).

    6. Tom Winnifrith Bearcast: Another multi billion quid green energy company goes tits up, who is next?
      I start with Nigel Wray and bottom up investing as opposed to top down investing. Then as Northvolt goes bust I look at ITM (ITM), AFC Energy (AFC) and Technology Minerals (TM1). Finally a long hard look at Cakebox (CBOX)

    7. Tom Winnifrith Bearcast No2: Is Ariana at £35 million really worth more than $300 million?
      This is a claim made in a video this week HERE. I discuss NPVs, assumptions, valuations, broker notes and where I see the shares going as gold powers on. But also what that paid for interview does not address an that matters.

    8. Tom Winnifrith Bearcast No 1: It was 20 years ago, naming names from the height of the 3DM and Eden Research fraud affair
      Promoted by today's news from Eden Research (EDEN) and by a meeting later this week to hand over a few things to someone, I look back to the height of the battle against the 3DM and Eden Research fraud. I name names and discuss, I think for the first time, some of the horrific crimes that the City covered up.

    9. Tom Winnifrith Bearcast No 1: Julie "sex toy on expenses" Meyer MBE, the struck off dentist Ajan Rejinald and Trustpilot
      I had a long zoom call about Julie Meyer and discuss that, more shenanigans at Roquefort (ROQ) and Trustpilot (TRST), ShareProphets and a moron on X

    10. Tom Winnifrith Bearcast: As Powerhouse does bailout placing, the differences between myself and Evil Banksta
      Obviously I am better looking and better educated than Liverpool's greatest numbers man since Ken Dodd and what with his fine dining funded by Adam Reynolds there is an ever increasing girth gap between myself and the portly bear, Evil Banksta. But as I discuss Powerhouse (PHE), still a zero in my book there are other differences of note 
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