Notes from Underground – Most read articles for the week ending August 16

The world returns to its normal rotation as the most read, non-Tom, article last week was The View From The Montana Log-Cabin As Gold Tries Again For $3,400 And Stocks Run by Nigel Somerville at number 1, or number 4 including Bearcasts.

1. The View From The Montana Log-Cabin As Gold Tries Again For $3,400 And Stocks Run
   Gold closed the week at $3,398 after a bit of a wild week: weakness to start with, then a rise on Trump tariffs on Switzerland which were then denied…..but Gold held firm anyway. Meanwhile, as can be seen on the chart below of Gold against the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers), the miners ran away with the prize.
   
   
2. Video: Don't shoot me says Stuart Ashman
   The thought had never crossed my mind. Skinbiotherapeutics (SBTX) boss Stuart Ashman is such a clown he must be preserved as a National Treasure, for his entertainment value. The video is from July 3...
   
   
3. Letter to the FCA and AIM Regulation: Investigation into Stuart Ashman and Skinbiotherapeutics PLC
   I just cannot see how Skinbiotherapeutics (SBTX) did not lead investors up the garden path, by omission not act, ahead of the June 16 2025 placing raising £4.2 million at 17p. Heads really should roll and if Nomad Singer is too weak to act against disgraced CEO Stuart Ashman and the company I have written to both the FCA and the Oxymorons at AIM Regulation asking for an immediate enquiry.
   
   
4. GOTCHA! Versarien admits shareholders will lose everything, now lets talk about 5 million quid of Tory sleaze
   Well at least Versarien (VRS) gave disgraced founder Neill Ricketts one last payout a couple of weeks ago. For shareholders, as long predicted by myself, today comes a warning that the shares are going to 0p and the company int administration. Given the way Rcketts trolled me and his shareholders discussed having me killed and how to get my wife sacked, you will forgive my lack of sympathy here. Hopefully administration will also expose five million quid of Tory sleaze.
   
   
5. Skinbiotherapeutics – poor trading update and schoolboy accounting blunders
   Skinbiotherapeutics (SBTX) later than expected trading update has been poorly received by investors: its not only a revenue miss but howling schoolboy errors by the new FD. This is another management clusterfuck and I shall elaborate n that in a bearcast special shortly.
   
   
6. MedPal AI – Risible level of free subscribers, a total joke from The Toke
   In my article last week EXPOSE: Stranger Danger: c/o Liam Murray, the Drummond Brothers are back on AIM: AVOID MEDPAL AI LIKE THE PLAGUE! I highlighted my concerns about the latest business to be floated by the Drummond Brothers. Well, my research reveals another major issue for an app based product.
   
   
7. Minoan – Nearly Dead Parrot’s Child Also On Life Support
   AIM-listed Minoan (MIN) - at least over the weekend – was supposed to have updated on a possible rescue on Friday, by DAAG which itself had been (amongst other things) subject to the audited results from Minoan subsidiary Loyalward. Loyalward holds the would-be holiday resort in Crete and on Friday the results appeared at Companies House. But there was no update from Minoan.
   
   
8. Diane Savory OBE: is there something that you are thoroughly ashamed about?
   She is an OBE, she boasts on LinkedIn that she is an "experienced chair". She used to head up the Cheltenham Literary festival. What is there for Dr Diane Savory not to boast about, she is an all round member of the great and the good.
   
   
9. Aurrigo International – after in February arguing “a positive year”, now expects “to fall significantly below current market expectations”!
   Most recently on Aurrigo International (AURR), in February with it describing itself as “a leading international provider of transport technology solutions” and arguing “a positive year”, I wrote what about the share price slumping from 90p to below 50p then?, and concluded a still longer-term funding question and the AIM awards typical counter-indicator still avoid. The shares most recently closed at 73p, but what about them currently back down towards 50p following an “H1 FY25 Trading Update, Outlook, £1m Grant Funding” announcement?
   
   
10. Is Matt Moulding of THG mad or are City bankers Numis bad? An extraordinary outburst!
    When a CEO rants about an evil shorting conspiracy and makes lurid allegations about City financiers dragging down his share price, it is usually a red flag about that CEO. In this case the CEO is Matt Moulding of THG (THG), a man and a company that this website has always been bearish about. Perhaps we are part of the evil shorting cabal?

The most-listened-to Bearcasts this week were:

1. Tom Winnifrith Bearcast No 1: An Oxbridge hat trick secured and boardroom sackings needed at Optibiotix and Skins after todays news
   I start with the Oxbridge triumph which means you will see son No 1 on te telly at Christmas. then to the good news from Optibiotix (OPTI) and the bad news from Skinbiotherapeutics (SBTX) and why, for different reasons both mean boardroom sackings MUST happen
   
   
2. Tom Winnifrith Bearcast: Folly from Rachel from Customer Services on IHT and sin taxes and looking at the pricing of saucepans
   I start with an IMPORTANT announcement for those who have bought tickets to Sharestock. Then it is Kefi Gold & Copper (KEFI), Labour and tax rises that will backfire, the oil price and BP (BP), referencing this Ukraine podcast, then Procook (PROC) and Ultimate Products (ULP) and desktop research on saucepan pricing.
   
   
3. Tom Winnifrith Bearcast No 1: strange gents coming to Sharestock and why Amaroq is such strong buy!
   I start with news of strange gents coming to Sharestock where, as of this morning, there is once again 1 free seat. Then Amaroq (AMRQ) and the sound of knicker wetting yesterday and why the shares are such a strong buy.
   
   
4. Tom Winnifrith Bearcast No 2: Some folks have lost their moral compass over Skinbiotherapeutics
   In today's second bearcast I look at gold vs bitcoin vs shares in an inflationary and AI world, at Skinbiotherapeutics (SBTX) and three of my critics and what they say, at Oracle Power (ORCP), Hemogenyx (HEMO) and Georgina Energy (GEX) and the Fat Lady. 
   
   
5. Tom Winnifrith Bearcast No 1: Does the Bellway trading statement shoot down the housebuilding bear case?
   The Bellway (BWY) statement was good. But I would not buy the shares on a 3 billion quid valuation and explain why. And nor does this destroy the bear case for housing and house prices.
   
   
6. Tom Winnifrith Bearcast: off to the Shipmans tomorrow
   That should be fun. Ahead of that I look at lessons from Versarien (VRS) and at Chill Brands (CHLL), Belluscura (BELL), Cleantech Lithium (CTL) and Bluebird Mining Ventues (BMV) and at ShareStock..