3234 days ago
The floor wiping will start at 6PM tonight at Free Speech & Liberty Pizza - all welcome. I refect on the joy of writing about or investing in real companies with profits, cashflows and assets and lament the popularity of stocks which are nothing like that on the AIM Casino. I look at Armstrong Ventures now run by my old pal Peter Redmond and Pires Investments - also a POS. Then at Jiasen, Falanx (statement needed chaps), Afren, Mosman Oil & Gas and Touchstone Gold.
3687 days ago
I might have suggested in prior articles that Peter Redmond was a senile old fool (albeit an honourable senile old fool). I take it all back. The man is a frigging genius, the ultimate playmaker in the world of the AIM Cesspit. There was Kennedy Ventures (KENV) wandering in the valley of death (just two days ago) and the maestro waved his wand and at a stroke it is the best performing share on AIM. What can I say? Peter Redmond is the Wizard King of the Cesspit.
At close of play on Monday having released dire results (see here) the company was at 1.55p valued at £420,000 but worth nothing (well £25,000). But as the grim reaper looked on and beckoned Kennedy towards the graveyard, the maestro moved in and on Tuesday announced that he had raised £550,000 before expenses (so let’s call that £500,000) at 1.25p.
What a genius!
3735 days ago
I have written some harsh things about Peter Redmond, the chairman of AIM Cesspit listed Leed Resources (LDP) and bought £7.50 worth of shares in his company to attend its AGM today to ask questions and push for his departure. But I guess I am now free to lunch at Maribelle’s instead, because Redmond has this morning announced that he will be standing down as chairman after the AGM with immediate effect. Before I crow, I should say he has, today, acted with honour.
Some crony capitalists would have dismissed me as a crank and just carried on trousering the dosh. I chatted at great length to Redmond last night and I give him full marks for what he has done today. I may have been an agent of change at Leed, but for quitting as he has done I am now setting up the Official Peter Redmond fan club.
Redmond accepts that Leed has failed its investors. The blame for this should not just be levelled at Redmond but also
3756 days ago
It has taken a while but my broker has today completed the purchase of £7.50 worth of shares in Leed Resources (LDP). I care not what the price is. This is a write-off on day 1. My sole aim is to wave my paper share certificate as I wander up to London to destroy Leed’s useless chairman Peter Redmond at the AGM on 6th February. THIS IS WAR!
Redmond is a crony capitalist. He chairs several AIM companies, trousering well over £100,000 a year in total for doing sweet FA. Where his companies have made big investments they have to be written off - Leed onto Manas Coal & (Dead) Kennedy Ventures into Bison Energy.
In the case of Leed,
3779 days ago
Heck we have some bad news…when will we tell shareholders? Oh…how about Christmas Eve? It is a half day. No-one will notice and by the time they do we can think of some good news to announce or go on holiday? The bosses of the AIM Cesspit think they are being smart and will get away with it. But I am here to make sure you missed none of the horrors snuck out today and to give them maximum PR.
The nominations for the gold medal for sneaking bad news out on Christmas Eve are:
1. Tullow Oil (TLW) abandons 80% owned Norwegian exploration well as a duster
2. Verdes Management (VMP) fesses up that it was meant to have received £125,000 of a rescue £500,000 loan facility by 20th December but it has not arrived yet.
3. City of London Group (CIN) says that the £17.4 million it was promised in a placing has yet again still not arrived and so the deal is off. Will have to seek alternative funding. Chairman and NED quit.
4. Northern Petroleum (NOP) says that it is writing down its Italian assets from 2P to 3C category. It will have full details in New Year but is whetting our appetite now, i.e. softening the blow by announcing when no-one is watching.
5. Albemarle & Bond (ABM) – Better capital the lead bidder fo0r its assets walks.
6. Kennedy Ventures (KENV) serves up atrocious annual results and warns of funding gap.
Now it is possible that one or two of the above only heard the bad news late yesterday and so had to announce today. On that basis I will give Tullow, Northern and Albemarle the benefit of the doubt although I cannot say that I am impressed with any of them. That leaves three contenders for this annual award of shame. In reverse order.
3783 days ago
I outlined earlier today why Peter Redmond the chairman of Leed Resources (LDP) should be fired at once. If you support crony capitalism on the AIM Cesspit and are happy with the transfer of wealth from the many to the few, you will say that I am being cruel to an old man and should back off. But…
If you want to make your point very directly to one of the few I would urge you to start calling him on his mobile and do not let off until you get an answer to 2 questions.
3783 days ago
Leed Resources (LDP) has today published its annual results. It is hard to know where to start with the incompetence of the man in charge but my conclusion is simple: for being an expensive and useless chairman, for operational failure, for avarice and for cowardice Peter Redmond should be fired at once.
Let’s start with the white feathers for this posterboy of crony capitalism on the AIM Cesspit. In prior announcements, one was supplied with full contact details if you had a question. On today’s abject POS results statement there are none. Should you wish to call someone to vent your anger let me assist. The coward contact details for Leed are
3806 days ago
Leed Resources (LDP) is yet another pointless AIM listed investment company brought to you by the broker that specialises in such POS operations (my old pals at Peterhouse). Today it has served up a shocking statement but will its executive chairman Peter Redmond give a xxxx? I don’t know – he is refusing to answer his phone.
