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Sefton Announcement: Blatant pre placing ramp, falling production, Comical Ali – the joke gets funnier

Tom Winnifrith Thursday 1 August 2013

 

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AIM Cesspit posterboy Sefton Resources (SER) which is suing me for libel has got no money and is burning cash. It is therefore must do to an equity placing or death spiral drawdown pronto to survive and so has put out its second RNS in two weeks which is not only a ramp but a piss poor ramp to boot.  Focus on: how it spins falling output how it announces the same thing twice and how it spins the fact that yet again it cannot publish Comical Ali’s steam flooding report.  And remember this is a ramp ahead of a placing which will have to be at a big discount to the current share price.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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FREE Podcast: ShareProphets Radio Edition 25 with Tom Winnifrith & Flip Flop Ben Turney

My guest in this week’s show which is sponsored by Open Orphan PLC (ORPH) is a former editor of this website Flip Flop Ben Turney. We discuss the problems with AIM, New World Oil & Gas, Nostra Terra (NTOG), touching on the mud being slung at Ben by some folks but on the real issues that company faces, on Touchstone Exploration, Big Sofa (BST) and many other matters, notably AIM PLC director expenses. I also discuss companies who switch Nomads too often. Yes that includes Versarien (VRS) and its forced change of today. If you like this podcast and can’t wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.

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