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

By Darren Atwater | Sunday 4 May 2025


 


In a sign that the world is returning to normalcy, Nigel Somerville has returned to number one, five including bearcasts, with the most-read, non-Tom article with The View From The Montana Log-Cabin As Gold Finally Goes Into Correction.

The most-read ShareProphets articles this week were:

  1. The View From The Montana Log-Cabin As Gold Finally Goes Into Correction
    It has happened at last: Gold finally put in a top and corrected, closing the week at $3,318 in comparison to last week’s $3,327. Er, what? That’s not a correction…until you see that at the beginning of the week Gold briefly made it to $3,500 and then plunged as low as $3,262 before recovering a little. The Gold miners were dragged down, as can be seen on the chart below of Gold versus the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers).So what now – is that it? Is the Gold rush all over? I don’t think so.

  2. Oxford Metrics – trading update suggests strong balance sheet-supported recovery value, Buy
    ‘Smart sensing and software company’ Oxford Metrics (OMG) has issued a trading update including that it expects to report first half of its year revenue and adjusted profit before tax in line with management expectations with trading momentum having continued. So is that good news discounted in a £61.8 million market capitalisation?

  3. New Richard Poulden video: call me a daft old fool but I have bought more Wishbone Gold shares
    The Proactive video below comes with the sort of soft questions you would expect. It makes the fawning Brown Envelope man Zak Mir seem like Jeremy Paxman. But it clarifies in my mind two matters so I have bought a second tranche of shares at c0.175p having bought a tranche last week at 0.135p.

  4. Kefi Gold & Copper – new syndicate member brings Tulu Kapi project financing further closer, Strong Buy
    Steve Moore writes: Kefi Gold & Copper (KEFI) has announced that an experienced mining services business has joined to complete the Tulu Kapi project syndicate with “inclusion in the project funding syndicate”. With shares in Kefi currently responding 6% higher to 0.525p, how good is the news?

  5. A tweet from the Ethiopian Embassy in London, surely Kefi needs to issue an RNS
    The tweet is genuine and reads:

  6. Kefi Video: What does there or Therabouts mean?
    Investment hooker Proactive has recorded a video with Harry Adams of Kefi Gold & Copper (KEFI). In terms of getting Tulu Kapi underway Adams repeatedly says they are "there or thereabouts." How do you define that? Enjoy. 

  7. Steve O' Hara 12 minute monologue, listen and FYB
    The Optibiotix (OPTI) CEO has recorded a 12 minute monologue. Listen and I defy anyone not to say why this does not leave the shares hugely cheap at 18.5p, a market cap of c£18 million. This really is a cue to FYB. Here are the key takeaways:

  8. Enteq Technologies – hopefully our warnings, rather than its “advance our strategy to… build long-term value for our shareholders”, were heeded as it’s now “Appointment of Administrators”!…
    Most recently on Enteq Technologies (NTQ), last week I wrote ‘intra-day “Conclusion of FSP, Corporate & Sale Process Update”. Uh Oh!’, concluding ‘it is also stated that “if at any time it is considered by the board that suitable funding cannot realistically be raised then the board will take the appropriate steps to seek to preserve value for creditors”. The key to note in that is “creditors” instead of even ‘stakeholders’ and let alone ‘shareholders’. With the conclusion of the Formal Sale Process also suggesting it’s going to be very good luck for current shareholders to eventually get anything from here, it’s a current share price further crashing towards 0.5p still bargepole/sell’. Hopefully at least that was heeded, after prior caution as far back as a 16p share price in 2016, as the company now announces “Appointment of Administrators”!

  9. Video: Convicted Felon: Kefi at 0.53p is a 20 bagger!
    Of course, Lord Ashbourne, a man who increasingly resembles your local Green Party candidate for council, and whose days of giving a plebian Policeman a dam good thrashing after a spot of drink driving are behind him, is paid, by Edison, to be bullish about its clients. But the villainous aristocrat is not a total idiot and his numbers on Kefi Gold & Copper (KEFI) are not plucked from thin air. See what you think about his 10.6p longer term target. Enjoy

  10. BREAKING: 79th Group goes bust, administrators called in, First Class Metals in total denial, misleading investors
    Late last night First Class Metals (FCM) snuck out its calendar 2024 results at no-one is watching O’Clock. Quite simply it was an exercise in denial regarding the ponzi fraud the 79th Group, its 41% shareholder. First Class opines:

The most-listened-to Bearcasts this week were:

    1. Tom Winnifrith Bearcast No 1: On share issuances, Skins and a company I am not meant to comment on
      On balance it is very good news from both but there are issues with executive pay and other matters that still fill me with anger. That does not make the shares anything other than very cheap, it just makes me cross.

    2. Tom Winnifrith Bearcast No 1: I agree with that old lunatic Gary Newman and would look to buy BP at a 7% yield for a 100% return in 7 years
      I discuss recent history errors by BP (NP.) and past dividend cuts, how BP is using its cash, and my projected income and total return . If the shares are basically unchanged when my SIPP gets its next wad of cash I will be buying them for the grown up part of my portfolio

    3. Tom Winnifrith Bearcast No 2: 4 horrors of material uncertainty or worse on accounts deadline day
      In today's Bearcast I discuss Minoan (MIN), Hydrogen Utopia (HUI), World Chess (CHSS) and Roquefort (ROQ). If there are any other material uncertainty warnings in results out today feel free to flag them up in the comments section below.

    4. Tom Winnifrith Bearcast No 1: It feels like I'm married to the Lemming: his business model, Optibiotix and Probiotix lack of boardroom buying
      I explain the marriage comment, it is not as if either the Lemming or I have decided to bat for the other team. I have also chatted to Adam Reynolds about the lack of Probiotix (PBX) boardroom buying, eight months after it was promised.

    5. Tom Winnifrith Bearcast: I realise there is intense competition but is this the FT's worst prediction ever?
      I start with yesterday's elections including a dig at the wretched FT. The fickle sentiment Optibiotix (OPYI) and a company I do not write about failing to issue an RNs as they should, Hemogenyx (HEMO), Mirriad (MIRI) and Amigo (AMGO), all three of which should be toast.

    6. Tom Winnifrith Bearcast: Feck you Steve O'Hara
      Optibiotix (OPTI) shares are still cheap as I explained yesterday but O'Hara has sold more Skinbiotherapeutics (SBTX) shares and his weasel words, enabling of PI financial rape by Cavendish and cowardice on cost cuts have left me seething

    7. Tom Winnifrith Bearcast; 2 blue chip international shorts
      1 is an update on Friday's Matt Earl call with the Dark Destroyer already looking smart, the other is a company you know on a crazy valuation which AI will destroy.

    8. Tom Winnifrith Bearcast: Rowing with the school about poisoning the kids & how Totally is totally fecked
      Good luck to all those involved i today's elections but especially to my pal the PR bruiser David Bick flying the Reform flag in Norfolk. Then it is onto a row with the headmistress of Jaya's school about how it is colluding with big food to poison the kids. The First Class Metals (FCM) which shareholders are in denial and Totally (TLY) which is totally fecked.I ponder the raft of suspensions today and consider why and I discuss why, pro tem, I am off the road.

    9. Tom Winnifrith Bearcast: how can an insolvent company see its shares treble? Answers on a postcard to the FCA
      In today's podcast I look at Georgina Exploration (GEX), Versarien (VRS), BSF Enterprise (BSFA), Avacta (AVCT), Microsalt (SALT) and the fraud Supply@ME Capital (GOTCHA!)

    10. Tom Winnifrith Bearcast No 2: Profit is a matter of opinion
      In today's bearcast I look at Celadon (CEL), Hemogenyx (HEMO), with a plea to Peterhouse to do the right 'ffing thing, Anexo (ANX), Manolete (MANO) and Sam Antar
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