Personal and undiluted views
AIM Listed

251 days ago

More vindication after 5 years: Bahamas Petroleum shares crash – Simon Potter is a rotter

For years AIM sewer listed Bahamas Petroleum (BPC) has spun the line that all it needed was a farm in partner to unlock massive potential for oil in the Bahamas. For years I have called out CEO Simon “Harry” Potter as a useless and grossly overpaid promoter who should be fired – here is a piece from 2015. And warned that this stock was just not investment grade - you can see a series of exposes and scoops HERE.  Sadly Potter was not fired in 2015 and today – with him having hauled out well over £5 million in compensation – since his 2011 appointment when the spoof started, the house of cards has collapsed. It will get worse.

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401 days ago

Explosive: Verditek: High grade Tory sleaze and more damning evidence of fraud

I have already demonstrated that AIM listed Verditek (VDTK) misled investors in a material way with regard to phantom orders ahead of placings in September 2019 and March and May this year. But this now gets far worse and AIM Regulation/The FCA needs to step in at once. Let’s start with the high grade Tory sleaze.

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716 days ago

Tern – size does matter

AIM listed purveyor of jam tomorrow Tern (TERN)  is effectively operating as a technology fund investment business.Its major issue, other than its repeated ability to play fast and loose with AIM Rules, is a lack of scale which creates a number of challenges.

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724 days ago

Neil Woodford uber dog Verseon – uh oh, comedy shit show

Yesterday Neil Woodford backed AIM listed uber dog Verseon (VERS) announced the sale and leaseback of its HQ in Fremont California, bringing in a net $9.5 million which would still have left it insolvent. Today, uh oh the deal is off. This is a shit show of the highest order.

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786 days ago

Flip Flop Ben Turney, everything okay with you at Teathers Financial?

Oh dear, Oh dear. On the principle that Good News travels fast and vice versa I rather worry for flip flop Ben Turney, the former editor of this website and the rescuer of formerly AIM listed Teathers Financial. How is the rescue going? Er… As you can see below…

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912 days ago

BREAKING: Winnileaks exposes the monster lie Management Resource Solutions told to its Nomad and AIM

If an AIM listed company lies to its Nomad and to the market the Nomad should quit on the spot. Thanks to Winnileaks we bring you an email exchange below which shows that Management Resource Solutions (MRS) told a monster lie this week. The end should be nigh. I have alerted the Nomad, AIM Regulation and the FCA.

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1088 days ago

Photo Article - the Big Sofa arrives at the Greek Hovel

I refer not to the AIM Listed company Big Sofa run by the incompetent wanker Simon Liddington but to a real four metre long Big Sofa which has arrived at the Greek Hovel. God only knows how the big trucks make it up here but they do and this is our first real bit of furniture - a landmark and a great way to enjoy the views from the living area out towards the deserted convent on the other side of the valley.

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1467 days ago

When is stealing $2.4 million not a sackable offence? When you are chairman of an AIM company of course!

Well it is now official. It is perfectly acceptable for the chairman of an AIM listed company to take $2.4 million of a company's cash without permission. You and I would call taking someone else's (that is to say shareholder's) money theft or stealing. But on AIM it is simply an unauthorised loan. Pas de probleme mes amis!

Welcome to the world of Mytrah Energy (MYT) which has announced:

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1505 days ago

Tom Winnifrith Bearcast - The Trade of the week was to buy Telit, this is insanity

The trade of the week was to buy shares in AIM listed fraud du jour Telit Communications (TCM) at 105p. I discuss why this is not a sensible strategy although it paid off last week and when it will end in tears. The podcast also covers Rose Petroleum (ROSE) the sort of utter crap that is all too common on the AIM Casino. I look at where Rose is heading and it is more compost bin than walled garden. Warning this barcast contains some bad language.

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1674 days ago

A Cloudtag owning moron writes to Tom Winnifrith

Having been cc'd in on a list of shareholders in the AIM listed ( pro tem) fraud Cloudtag (CTAG) leaked in breach of Data Protection laws by the company itself, I could not resist sending them an email pointing them to some high quality covrerage of the stock. I received a few replies. Here is the best of the bunch. I wonder if this clown, a Mr John Simpson,  thinks this will help him get his cash back and if his wife and employer knows that he spends his days sending such emails. I have to feel sorry for the chap who obviously deeply troubled.

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1847 days ago

Glenwick tells a monstrous lie as it announces how it will spunk its cash

Suspended for failing to do an RTO, the AIM listed piece of crap that is Glenwick (GWIK) announced late last week, how it is to spunk all its cash. Need,less to say the company told a grotesque lie in its RNS and it and its advisers seem rather unwilling to return calls and defend or justify that lie. Peterhouse, Allenby, Glenwick you are cowardly bastards as well; as liars.

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1880 days ago

The sleazy side of promoting AIM Cesspit companies - cash for ramping exposed in sordid emails: ref Mkango Resources

Want to get a "journalist" to write a piece saying how cheap your shares are? Shimple.. for an AIM listed company you can get the ramping underway for just 1100 Euros, welcome to the world of Mining Review... I have been passed emails which show just how cheaply useless companies such as AIM Listed Mkango Resources (MKA) can buy positive coverage.

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1884 days ago

The Chairman's Blog 2: Sir Benjamin Dover of Global Mining Endeavours writes

Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. Day 2

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1886 days ago

The Chairman's Blog: Sir Benjamin Dover of Global Mining Endeavours writes

Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. This blog will appear only on ShareProphets...

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1887 days ago

Haike Chemical - Any more Red Flags for Tea Vicar?

Shares in Haike Chemicals (HAIK) have more than trebled since the spring but do not get suckered in as this is almost certaintly just another common or garden AIM listed China Norfolk. I am grateful to a correspondent in China who writes:

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1982 days ago

Berkeley Energia - spectacular fund raise news - we upgrade big time

In that rarest of moves for an AIM-listed company, Berkeley Energia (BKY) has announced new financing from a major shareholder which includes new equity at a premium to the currently prevailing share price. Following several months of due diligence, mining-focused private equity firm Resource Capital Funds is to provide $5 million through a 0.375% net smelter royalty and a further $5 million for new shares at 32p each. The latter compares to a closing high share price since 2013 of 31.75p earlier this month and a pre placing close of 30.25p – these up from 26p at the start of the year and more than 50% on our share tip.

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1986 days ago

Ascent Resources - doesn't give a FF about AIM Rules as it delays very bad news

It is hard to know where AIM listed Ascent Resources (AST) has more problems - out East in Slovenia operationally or back in London where its total disregard for the AIM Rulebook should see it firmly in the soup. Here we are with a blatant rule breach, hands up who thinks bogus AIM Sheriff Marcus Stuttard will do anything about it? Er...I make that no-one.

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1994 days ago

WH Ireland - It seems Mr Bagot is not alone - is the dam breaking on scamming customers?

As you know disgraced broker WH Ireland (WHI) used fascist bully boy lawyers to stop the penioners it mugged ( the Bagots) and Nigel Somerville from exposing the AIM listed firm at UK Investor. We went ahead and what we served up was shocking. WH Ireland has to date insisted that the Bagots were a one off. That now appears to be demonstrable fiction.

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2014 days ago

88 Energy - when's the discounted placing? All the money's gone

At the end of December AIM listed 88 Energy (88E) had cA$1.2 million net debt and cash of cA$9.6 million. However in the prior quarter it spunked cA$16 million, with just under a million of that on PLC costs. Hmmmmm - What do you think is left?

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2026 days ago

Conroy targets 5m oz Gold, I target Cheryl Cole's "virtue" - the only cert is its placing ahoy!

Conroy Gold (CGNR) has today put out a laughable release claiming that it is "targetting" 5 million ounces of gold at its deposits on the Irish/Ulster border. I, as you know, am still targeting getting up close and personal with Britain's most talented chanteuse but I've been on my quest a lot less long than Conroy has been, unlike the AIM tiddler I'm pursuing my quest with my own money and there is almost as much evidence to support my dreams as that of the AIM listed money cruncher. That is to say sweet FA.

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2048 days ago

Breaking News: David Lenigas planning £5 million LGO placing as yanks pull out - Jabba to take control again

This morning LGO Energy (LGO) admitted that US investors were - after all - not going to spunk $20 million on bailing out the debt ridden, AIM listed disaster story. I can reveal that a plan B is now underway. Jabba The Hutt is back in town...

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2129 days ago

Tom Winnifrith Bearcast 19 December - would I buy shares in any non UK company on AIM? No.

I am asked by a reader would I buy shares in any AIM listed company from Israel? I widen that to include Aussie, Greek, Chinese and US companies and the answer is NO! I explain why. Then I go on to thank the readers who post so many great "spots", "red flags" and technical insights in the comments section here. You make me look an awful lot smarter than I really am. I also discuss Star Wars which I shall be watching tonight and which I have looked forward to all year. Merry Christmas to you all.

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2132 days ago

Chris Oil market abusing again - MX Oil plans bond issue

The little twerp just cannot help breaking the law. You will see in the tweets below that market abuser Chris Oil claims to be the largest shareholder in MX Oil (MXO) but that he is also a large bond holder in the AIM listed company. Er hang on...

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2204 days ago

Avanti Communications: The Jungle Drums say no facebook deal in Africa - the shares are a sell

Oh dear. Last Autumn the big ramp from supporters of Avanti Communications (AVN) was that it would sign a major deal with Facebook to provide internet in Africa. It was even suggested that facebook might bid for the AIM listed company with the most bombastic CEO on this planet, Mr David Williams. Oh dear. It ain’t going to happen.

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2241 days ago

Tom Winnifrith Bearcast 29 August - so bloody angry with ShoreCap and the Directors of Hotel Corp who are liars

At no-one is watching a clock yesterday AIM listed Hotel Corp (HCP) directors published a document seeking to thwart boardroom change at this disaster story and save their grubby tax free pay packets. Sadly for them I have obtained a series of emails which show that the document contained a series of lies. Worse still I have obtained accounts showing how 22% shareholder and ex Nomad to Hotel Corp, Shore Capital has coined it in from this vehicle, making millions, as shareholders have lost everything. The directors and Shore Cap oppose Yeoman and wish to pursue another venture similar to the last one which cost shareholders everything but made Shore millions ( and paid the useless board too much for doing sweet FA). I expose the lot of them and am furious.

This podcast contains bad language as I am livid - this story shows everything which is wrong about crony capitalism in the City and on the AIM Casino. I also accuse Messrs Short and Craine of lying to their investors and invite them to sue me for libel as I have the documents which show that my claims are 100% verifiable. See you in court bitchez!

Any shareholder in Hotel Corp should at once contact Yeoman to pledge support at the forthcoming EGM - this will be a proxy fight and everyone should back Yeoman against the lying crony capitalist Derek Short. Please contact Yeoman today on [email protected]  

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2241 days ago

Scancell – Placing ahoy?

Shares in much ramped AIM listed biotech Scancell (SCLP) now trade at 28-30.5p valuing it at a stonking £65 million. But the balance sheet is painfully thin and the word is that there is a placing on the way at a big discount.

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2244 days ago

Eden Research – Today’s statement stinks

Eden Research (EDEN) is an AIM listed dog with a track record of non-delivery. It is the sister company of that other dog Environmental Recycling (ENRT) and both companies felt my ire back in 2005 when Environmental was called 3DM. It pissed away cash on fascist lawyer’s letters. It was 3DM that picked up the censure from the FSA for lying to investors. Today the Eden dog has put out an announcement which just stinks. I am back on its case.

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2247 days ago

WH Ireland – How big is its mis-selling scandal? Only a lunatic would trust this firm with his cash

The Mail on Sunday carries a horrific story about a 78 year old man who has seen his life savings disappear thanks to WH Ireland (WHI) the AIM listed stockbroker. Reading this I conclude that only a total lunatic would entrust WH Ireland with his or her cash. With the stockmarket now clearly in bear territory WH Ireland would be unlikely to prosper even without this scandal and at 125p the shares are a stonking sell – second only in this sector to those of the POS Daniel Stewart (DAN).

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2258 days ago

SELL!: WANdisco plc – what’s the exact nature of its HSBC credit facility?

Steve Moore previously commented on AIM-listed WANdisco plc (WAND) HERE (‘after the 2015 Q2 sales update, it’s forecast reduction time yet again!’), including noting forecasts of net cash reducing to $6.2 million at the year-end and an $8.5 million net debt position at the end of next year, with there currently a $10 million revolving credit facility in place with HSBC to March 2017. If this balance sheet position was not too close for comfort already, we now have reason to question the exact nature of the HSBC facility…

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2258 days ago

Breaking: Camkids – If it looks like a duck, and walks like a duck……

Something just does not add up with AIM listed (pro tem) Camkids (CAMK). Tom Winnifrith and Steve Moore have already considered the credibility of yesterday’s RNS HERE and pronounced Camkids, from Fujian Province in China as a prime candidate to join the club from the Norfolk province of AIM. We’ve been looking at it from a different angle: the annual report and accounts. What we find is shocking. 

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2266 days ago

Stratmin – a horror blow from Oz, warns top analyst Roger Bade

Life has not been easy for AIM listed Stratmin (STGR) but top mining analyst Roger Bade has flagged up a new dark cloud hanging over the entire Graphite sector. The great man writes:

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2344 days ago

BREAKING: Plus500 - shares collapsing - odd statement on its website

A message has just gone up on the Plus500 (PUS) website for all clients which suggests that something may be horribly wrong at the AIM listed company about which we have warned several times on this website. The shares are off 20% as I write - at 605p - but the bear community reckons the stock could still head straight off the cliff face from here. Sell.

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2361 days ago

New Reader Poll - which AIM Listed company has sent Tom Winnifrith a lawyers letter today?

Jeepers, I have not had a lawyers letter threatening me for almost seven weeks. Life was almost getting boring but I am - at a stroke - reinvigorated. It goes without saying that I am not backing down and have sent a pretty terse reply just now. So which POS enterprise is wasting its shareholders cash this time? Time for a new reader poll - I'll reveal the correct answer when we get to the next stage. Have fun:

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2378 days ago

Exclusive: Breaking - the Horse Hill Placings start - Solo is trying it on as I write

Knock me down with a feather. Following the hype the placings by the merry band of AIM listed Horse Hill participants is now underway. There has been no announcement yet but as I write...

Brokers for Solo Oil

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2405 days ago

Is it farewell Pete Landau? Black Mountain shares suspended as Nomad quits

Expect a formal statement shortly but shares in Black Mountain Resources (BMZ) – crony capitalist Peter Landau’s last AIM listed stock – have been suspended today as per Rule 1 of the Casino. That means that the Nomad (RFC Ambrian) has quit.

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2497 days ago

Life as CFO in a failing company like Quindell: someone who has been there explains

What is it like being Laurence Moorse, the FD at Quindell (QPP) as it goes down the swanny. I asked a gentleman now FD of a successful AIM listed company but who in a former life was parachuted into a quoted entity that he pretty soon realized was a can of worms, to explain. The experience still haunts him. His recollection will give you some idea of what life is like in Fareham right now.

What would my life be like? In a word, Shit! Actually 3 words. Unbelievably fucking shit. What would I be doing with my time? Simple, I would be focused on 2 areas (broadly defined and mutually overlapping) but here goes: 

The Day Job 

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2498 days ago

EXCLUSIVE: Lost Money on Quindell: Class Action against Quindell PLC, Rob Terry, Laurence Moorse to be launched

Law firm YourLegalFriend will tomorrow launch an initiative aimed at pursuing both Quindell PLC and its current board of directors as well as Rob Terry in order to get back the vast losses suffered by investors in Quindell.

Yourlegalfriend is a well-established firm of lawyers run by Colin Gibson, a KPMG-trained accountant (nearly 10 years with the firm), who was later a listed company FD then CEO on first a main list then an AIM listed company for a total of around 8 years.

I have spoken to Mr Gibson and he understands the issues and is serious in pursuing this matter.  I have urged him to widen the action into pursuing Canaccord, Cenkos, Daniel Stewart, Redleaf PR, Bell pottinger and KPMG and he states that as more evidence emerges that the scope of the action is likely to be widened. The release that will be issued tomorrow follows. I urge all Quindell shareholders who have lost money on this fraud to contact Mr Gibson and his team first thing tomorrow.

 

QUINDELL INVESTOR CLASS ACTION UNDER ACTIVE INVESTIGATION

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2501 days ago

Video: Greg Coleman of Independent Resources presents on 8 December at the ShareProphets seminar

Independent Resources (IRG) is an AIM listed oil junor. Its CEO Greg Coleman presented at the recent ShareProphets seminar on December 8th. To make sure you get priority alerts to book into future seminars register HERE. To watch Greg in action and see his presentation see the video below.

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2501 days ago

Video of Ian Strafford-Taylor of FairFx present at the ShareProphets seminar on 8 December

FairFX (FFX) is an AIM listed technology play in the personal forex credit card space. Its CEO Ian Strafford-Taylor presented at the recent ShareProphets seminar on December 8th. To make sure you get priority alerts to book into future seminars register HERE. To watch Ian in action and see his presentation see the video below.

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2502 days ago

Tom Winnifrith Presentation - 8 December Seminar: Disgust at Mining stocks

Tom Winnifrith could not make the Monday 8 December ShareProphets seminar in person as rain delayed his plans as you can see in the videos shot from his Greek residence below. However he posted a few thoughts by audio on the disgust folks feel about AIM listed mining stocks and we now relay this podcast to a wider audience. It explians why fundamental analysis of such stocks is in a sense not relevant right now.

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2544 days ago

Real Man Supports the Westminster Group Ebola appeal – will you?

Real Man is not unaware of the Ebola crisis occurring in West Africa. I see that some pompous arses object to my use of the phrase “I’d rather drink a pint of warm Ebola” than (buy Quindell shares etc.) but that is because the English language is a joyful tool allowing such illusions to make a point not the preserve of pompous self-righteous prats (see my tweet hate mail at the weekend). 

As it happens we have a long relationship at the restaurant with our friends at Medicins Sans Frontieres. And as such we are delighted to support an emergency Ebola appeal launched today by Westminster Group (WSG) an AIM listed company operating in the Ebola heartlands.

Real Man Pizza Company in Clerkenwell will donate 20p per pizza sold all week ( ending 1 Nov) at the restaurant to the Westminster appeal.

We hope that you too will donate, and it does not need to be cash.

Full details can be found here.

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2552 days ago

Lombard Risk Management – Interims: Buy

AIM listed Lombard Risk Management (LRM) has announced results from “a busy six months” to 30th September 2014 as financial services industry regulatory change continues apace. 

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2573 days ago

Daniel Stewart – what a total joke: shares suspended

Daniel Stewart (DAN) earns its living as a Nomad and broker to AIM listed stocks. That is to say it charges fat fees for advising them on how to play by the AIM rules, for listing them and for raising money for them. It has no standards so was responsible for bringing Quindell (QPP) to the Casino and also acts as Nomad to China fraud Naibu (NBU) and tried to float China fraud Fraspens in August but seems to have failed. Today Daniel Stewart’s shares have been suspended.

On 30 May its auditors of 15 years (Keelings) quit and Daniel Cesspit appointed PriceWaterhouse Coopers to check its books. We know that results for the year to March 31 2014 will have been covered in red ink.

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2583 days ago

The big daddy of fraud busting Sam Antar sends tweet to Quindell

Sam Antar was at the heart of the biggest fraud on Wall Street of the 1980s – he was FD of Crazy Eddies. But he plea bargained, escaped jail and has endeavoured to set amends ever since by expositing corporate fraud, accounting wrongdoing and by assisting the SEC in fraud busting. He is THE big daddy of fraud exposure, if he goes after someone it makes my efforts or those of Gotham City seem like those of kids in the park. And yesterday he tweeted to a certain well known AIM listed British company.

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2583 days ago

GOTCHA! Naibu - The bombshell revelation - surely the shares must be suspended NOW

I do hope that someone round at Daniel Stewart, Nomad and Broker to AIM listed China fraud Naibu (NBU) has learned to read Chinese since the crony capitalists FAILED to do adequate due diligence on this POS before it listed. Because I have a little press cutting for you chaps from 2008. If you are not too busy spending the £600,000 you have made in fees from Naibu in the past 18 months you need to read it and then resign at once as Nomad and broker and have the shares suspended. This is a bombshell.

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2583 days ago

Another listed Chinese firm sees shares collapse today as theft and fraud emerge – this time its Ultrasonic listed in Germany

Frigging hell how many warning signs do investors in AIM listed China stocks need? Today’s shocker comes from Germany where Ultrasonic – a shoe maker – has seen its shares crash by 79% in just one day. But there is a read across to some of our AIM listed frauds.

Ultrasonic’s problem is that its CEO and COO Qingyong Wu and Minghong Wu have disappeared without trace. At the same time all the cash in its PRC and HK bank accounts has disappeared. Sounds bad eh?

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2583 days ago

Was it Naibu that scuppered the Fraspens IPO or has Daniel Stewart stopped floating shit on the AIM Casino

The sorry saga of AIM listed China fraud Naibu (NBU) gets murkier and murkier and at the heart of it is City Nomad and broker Daniel Stewart, the firm that brought Quenron to the AIM casino and acts for Naibu. I asked it to show integrity at the weekend by quitting Naibu given my explosive revelation HERE. But Daniel Cesspit would rather bank the fees. So let’s talk Fraspens. Fraspens who you say? Well let me explain, on 21 July this fine enterprise issued a press release announcing inter alia:

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2583 days ago

Now on a PE of only 0.45, why does Daniel Stewart not rate Naibu as a buy? Because it’s a fraud!

Shares in China based AIM listed fraud Naibu have slumped to just 23p today – they were 50p on Thursday before the disastrous interims were published. House broker and Nomad Daniel Stewart (the firm that signed off on the Quenron IPO) stated on Friday that earnings will be 46p this year and that fair value is 50p. So why is it not rating the stock as a buy?

Surely a PE of just 0.45 and share price upside of 140% makes this a screaming buy. The only problem, as Daniel Stewart knows full well, is that this is a fraud 

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2583 days ago

Giles Elliot of Naibu, you are an honourable man being made to look like a fool – will you quit?

Giles Elliot, the non-exec deputy chairman of AIM listed China fraud Naibu (NBU) strikes me as a good and thoroughly honourable man. But he has been made to look like an utter fool by CEO Houyan Lin and I ask Giles when is he planning to quit?

In light of my revelations HERE of this weekend Giles must know he has been taken for a monumental ride and through no fault of his own to make look like a right Charlie. 

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2623 days ago

Naibu – A Question or Two for Mr Lin, the CEO

As you know, I believe that AIM listed Naibu (NBU) is a total POS. I do not believe its numbers or its CEO or his mum who still owes the company £2 million she “borrowed” a few years back. I think that the shares at 43.5p are in fact worth 0.0000001p. A 4p per share dividend is due to be paid on Friday. So here is a question for Mr Lin.

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2623 days ago

Buy Prime People at a 95p offer

Investment Case: Noting that a large proportion of its cash looked surplus to what is needed in its ongoing business and for its current growth plans, Prime People plc (PRP) recently returned 15p per share (£1.82 million) to shareholders. This, together with an attractive ordinary dividend, shows a regard for shareholders that few other AIM-listed companies do. This is perhaps because the directors' interests are via their shareholdings to a rare extent aligned with other investors. We tipped this at a 90p offer a couple of weeks ago but at 95p to buy this is still a good share tip and here’s why.

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2626 days ago

Naibu – Daniel Stewart pumps out buy note but will not answer critical question – target price cut to 0.0000001p

Following the comical trading statement from AIM listed POS China joke company Naibu (NBU) earlier this week – see HERE - Broker and Nomad to this Norfolk, Daniel Stewart, has published a buy note but refuses to answer my utterly critical question. The shares have slumped to 43.5p putting them on a PE of 0.95 and a yield of 13.8% if you believe the forecasts. I do not and am thus slashing my target price from 1p to 0.0000001p and will reduce it further if Daniel Stewart cannot answer this question:

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2632 days ago

Redhall – yet another AIM Cesspit zombie: what is the point?

Another day and yet another profits warning from AIM listed specialist engineering group Redhall (RHL). This is a zombie company in that from an investor’s point of view it is just dead money. But it supports an army of crony capitalists, directors and various City parasites.

So let’s start with the profits warning. Redhall stated:

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2632 days ago

POS Outsourcery statement – Piers Linney this does not wash Mr Dragon’s Den

Having promised an update on refinancing the POS AIM listed company Outsourcery in July, Dragon’s Den Prima Donna Piers Linney served up a pretty wet statement at the last minute this morning. The RNS is both wet and disingenuous. And here’s why.The statement reads:

As stated on 27 June, in an update issued ahead of the Group's Capital Markets Day, the Board stated its view that the Group has sufficient cash resources for its immediate needs.  The Board re-iterates that view today. 

The Board has been prudently reviewing a range of options that would improve the Group's cash resources and is pleased to confirm that discussions regarding a combination of debt and equity funding options as outlined in its trading update on 27 June have progressed quickly and positively in recent weeks.  Final discussions and documentation regarding these options are now underway and the Board will provide a final update in short order. 

Ok. Let’s deal with the cash.

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2637 days ago

Piers Linney of Dragons Den – another business failure unearthed & his PLC record in focus as shares in Outsourcery Slump

Over the weekend I revealed HERE the string of business trainwecks that are the real career of Dragons Den new boy Piers Linney. I also flagged that his AIM listed Outsourcery (OUT) was in dire straits and its shares have slumped from 34p on Friday to 25.5p ( and falling) today as the possibility that it could go tits up looms ever larger – as I flag HERE.

Outsourcery is burning cash, has missed all its sales targets and cash and trade receivables minus debt and trade payables is already almost certainly negative. Piers promises us a statement by the end of the month. Tick Tock. You can read full details HERE but I’d rather drink a pint of Ebola virus than buy the shares. They are a sell – target price 1p.

But a City contact has now pointed me towards another venture of Piers which ended in the usual Linney outcome.

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2637 days ago

Sound Oil: All Bulletin Board froth or a very cheap share: video presentation judge for yourself

The Bulletin Boards are frothing, AIM listed Sound Oil (SOU) seems to be the latest private investor darling. But is it all froth or is the shares really very cheap? Judge for yourself by waching this video of  Luca Madeddu presenting at the UK Investor Show

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2638 days ago

Victoria Oil & Gas Kevin Foo video - understanding why bear raider Evil Knievil is buying greedily

Famed bear raider Evil Knievil has been greedily buying more shares in AIM listed Victoria Oil & Gas (VOG) in recent days. Greed and Evil are two words that are often found together. To understand why Evil is buying have a look at this video of CEO Kevin Foo presenting at the UK Investor show a couple of months ago.

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2638 days ago

A Good Guy from the Oil Sector - Matt Lofgran of Nostra Terra in video action

Following my revelations HERE earlier about US Oil & Gas (USOP) you might want to run a mile from this sector. But there are some CEOs who I judge to be good honest folk and among them is Matt Lofgran of AIM listed Nostra Terra Oil & Gas (NTOG)

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2640 days ago

Outsourcery – When’s the rescue bailout? Crony Capitalists at work…

On 27th June, AIM listed Outsourcery (OUT) announced that it was holding a “Capital Markets Day.” Hmmm, this is an £12 million capitalised AIM listed POS with pretensions is it not? The company started with a raft of positive guff but then – if you had not fallen asleep and got to the bottom of the release – found that it was admitting that it was a year behind schedule and needs to raise cash this year to keep going. Now even prostitute researcher Edison is sticking the boot in – what it says and what management says look very different to me. Why would anyone refinance this train wreck?

The company describes itself thus: Outsourcery operates a highly disruptive business model as cloud-services increasingly remove the need for organisations of all sizes to consume co-location, managed services or small, purpose built private clouds.

Hmmmm all the right buzzwords in there (managed services, cloud, disruptive – a bonus for that one). Surely a sell signal.

Outsourcery said 

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2654 days ago

Lombard Risk Management – Buy after solid trading statement

Written with Steve Moore: AIM listed tech stock Lombard Risk Management (LRM) has issued a trading update that it “remains on target to achieve the market growth forecasts for the current year… supported by recent new licence wins and additional new orders won with existing customers” as well as announcing the appointment of a new Chief Financial Officer, Nigel Gurney. 

Forecasts are currently for a reported full-year pre-tax profit of £5 million on revenue of £22.5 million, up from a prior year £4.42 million on £20.40 million. I note ‘reported’ since significant investment costs are capitalised here - £4.22 million more than depreciation + amortisation last year, with the company then commenting “we expect research and development costs to reduce in the 2014/15 financial year as a percentage of revenues but at the same time it would be very short sighted not to invest in our future growth”

As noted

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2654 days ago

Accounting services all above board? Blur Group does Irony Very well

An FD of an AIM listed company has passed me the following email entitled “Accounting services all above board” sent by Dorothy from blur Group (BLUR). My mind is boggling does this company do irony. Followers of Blur will remember that within the past three months it has been forced to admit that its revenue recognition policies were all over the shop and to stage a rescue bailout.

On that basis I guess companies will be lining up to pay blur cash to help them improve their accounting standard so, like blur one is “ensuring you’re above board at every point.”

As I explained in my piece at the time of the rescue bailout I continue to regard this company as a slam dunk sell – see HERE

Oddly that piece did not feature in the “Media Coverage” section of blur’s website which is universally glowing.  The Financial Times might well have once said 

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2667 days ago

Poor Phorm – Tits Up by mid-August unless more cash raised.

In the last days of March, AIM Cesspit listed Phorm (PHRM) raised £10 million. Today it has warned that unless it raises more cash urgently it will go tits up. I reckon tits up day is in mid-August.

The numbers defy belief. As ever in March Phorm was blathering on about the good days ahead. It is still blathering on about billions of potential advertising pages blah blah blah as it announced its results for the 2013 calendar year and admits to more delays on the operational side. But it is the cash that should horrify one and all.

Phorm says that cash and cash equivalents as at May 31 were $8.8 million - call that £5.5 million. In other words in just two months £4.5 million has gone to money heaven. Why Phorm cannot give us an up to date figure in this era of electronic banking God only knows.

But at the current run rate this company will be out of cash and tits up by mid-August. That should be the headline. Phorm phrases this dogs dinner in more of a blurred fashion thus:

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2667 days ago

Exclusive: Evil Knievil goes short of Plus500 at 559p – target a 40% price fall

We can reveal exclusively that infamous bear raider Evil Knievil has opened a material short in Plus500 Ltd (PLUS), the AIM listed financial services company. 

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2676 days ago

Astar Minerals – Please Explain why you lied to investors: sell

On 27th May AIM Cesspit listed Astar Minerals (ASTA) lied to investors in an RNS. This overvalued POS Company is run by a bucket shop stockbroker and anyone buying the shares needs their head examined. The fact that it took The Sheriff of AIM only ten minutes to unearth this lie shows what dumb and unprincipled mothers these folks are. 

Let’s start with the lie.  Astar stated:

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2681 days ago

Vialogy: Reverse takeover, placing, shares unsuspended – strong buy

AIM listed Vialogy (VIY) shares came back from suspension on Friday, closing the session at 0.16p after a £6.5 million placing at 0.11p. We took part in that placing and will be taking up our full entitlements in the open offer at 0.11p – we were already shareholders. I suggest that existing shareholders do the same (given how in the money they are already) and also buy a lot more in the market on Monday.

Vialogy has bought molecular diagnostic company Premaitha by issuing 95 million shares at 0.11p (that is a £10.5 million price tag). It has raised another £6.5 million at 0.11p in a placing which was FOUR TIMES oversubscribed with a raft of institutions on board. The open offer will raise up to £700,000 more.

Effectively the free float (since the vendors and institutions and those who backed the last placing cannot or will not flip) is c 10%, if that.

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2688 days ago

Leyshon Resources - hydro plans, worth a punt?

As part of its strategic review of its currently on care and maintenance Mt Leyshon gold project in Queensland, Australia, AIM listed Leyshon Resources (LRL) has announced the completion of a study into pumped storage hydro power generation. 

The study has indicated favourable economics compared to a larger-scale, open-cycle gas turbine project - the assumed next best alternative for providing fast-start peak to intermediate generation capacity. Although the potential project is considered to be one of the first to capitalise on existing mine site infrastructure, the company notes “other highly successful pumped storage schemes around the world”.
 
This comes with the Australian Energy Market Operator forecasting that in order to maintain supply reliability new generation capacity will be required in Queensland by 2020
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2693 days ago

Leyshon Energy Trading Update - surely a bargain to buy at these levels

AIM listed Leyshon Energy (LEN) has updated  investors on its Zijinshan interim testing programme  that “further to more detailed analysis, including the review of offset data, it has been decided to increase the number of flow tests to test a minimum of three zones within Well ZJS7 rather than a single zone as previously planned”.

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2695 days ago

Tangiers Petroleum – Another Kick in the Gonads for Investors?

Even certain advisors to AIM and ASX listed Tangiers Petroleum (TPET) have started to call The Sheriff of Aim to express their concern as to the way it communicates with investors. Well hang on fellas, are your long suffering UK stockholders on the AIM Cesspit about to get another kick in the Gonads?

Tangiers, you will remember placed stock with flippers and other City spivs at a discount to what mug punters were paying just a few days ago on 13 May – it raised $5 million. Its next trick was to promote an article via an ASX release by a tipsheet which made up bogus facts in a classic rampathon. Natch, many private investors rushed in overpaying for this POS stock as the shares raced ahead.  In promoting an article packed full of lies, Tangiers disgraced itself.

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2704 days ago

Tangiers Petroleum – An Apology from me, Questions and Condemnation

James Parter revealed some quite disgraceful ramping of shares in Tangiers Petroleum (TPET) yesterday. His analysis was superb and shows why an Australian website was publishing plain untruths about this dual listed company. I suggest reading his article here.

That website then garnered publicity for its shit analysis by paying various UK website owners so send out a promotional mailing. Websites like this, ADVFN, etc are free to access and we therefore run a business model based on allowing financial services companies to send mailings to your mailing list. You know we have to pay our writers somehow!

I am embarrassed to say that OneFreeShareTip – an excellent website we run in partnership with ADVFN ran this mailing. The mailing was sold by the team at ADVFN and we have discussed the matter and they will not be selling to this client again for OFSTD. That is an honourable call by them and the right thing to do. But for what happened I apologise most sincerely. Anyone can offer words as an apology but although it was nothing to do with me, I want to show that I mean it.

I do not wish to make a cent out of this episode as I regard it as an unethical aspect of crony capitalism and so the portion of that sale which RMPC earned will be donated to the excellent Woodlarks charity.

Next we come to the Australian web site company

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2704 days ago

Nighthawk & its hidden legal case – how does it define insignificant?

Earlier today I revealed how Nighthawk Energy (HAWK) was served with papers for a potentially large legal claim by its former business partner Running Foxes on 29th April but had not bothered to tell shareholders. Nighthawk has responded but its statement is er… “interesting.” I have now spoken to Running Foxes. Ho. Ho.

My point here is that Nighthawk should as an AIM listed company fessed up to shareholders on April 29 with an RNS admitting that the claim had been made. It could have described it as a joke at that point, whatever. The point is it should have been open. It was not.

And so The Sheriff of AIM had to publish the court papers in full as you can see HERE

Nighthawk has responded with a statement which follows:

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2704 days ago

Amara Mining: Follow the Board & Buy

AIM listed Amara Mining (AMA) has announced that its producing Kalsaka/Sega operation returned to EBITDA profit in the first quarter of the 2014 calendar year but that “the head grade mined in Q1 2014 was below expectations and accordingly Amara expects production in 2014 to be at the low end of the previous guidance of 60,000-70,000 ounces”

Kalsaka/Sega production was 16,263 ounces of gold in the quarter, with the company reporting an overall net loss of $4.58 million for the period, though noting that “the closing cash and bullion balance of $7.3 million was augmented during Q2 by the $30.5 million fundraising (before expenses), ensuring that Amara is fully funded to deliver the initial Yaoure feasibility study in Q1 2015”

It particularly emphasised that;

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2708 days ago

Legendary Investments Announces Successful Placing but talks bollocks

AIM Cesspit listed Legendary Investments (LEG) has today issued a release headlined “successful placing”. How does it define success? Meanwhile , how I define “talking complete and utter bollocks?”

Legendary has raised £900,000 at 0.11p with “a range of institutional and private investors” In plain English that means bucket shops and other flippers. The chances of one finding that Fidelity, Black Rock and Berkshire Hathaway have joined the shareholder register are somewhat slim.

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2709 days ago

Arian Silver – The Dog takes the Piss Again: a Welsh joke

Woof, woof, woof! How many times have I warned (correctly) that AIM & TSX listed silver company Arian (AGQ) is a total and utter dog? I have lost count. Those who ignored me have lost 90% in three years but at 34.5p the shares are still hugely overvalued. The quarterlies were slipped out at 6.59 AM today just a minute before the 7 AM rush so that folks might not notice just how dismal they are. I noticed…

Woof – where do you start? Arian is building a new processing plant in Mexico and the uber-Welsh management team finds that prospect almost as exciting as the idea of being stranded alone on a desert island with a flock of pert young sheep. I am rather less excited about Arian’s prospects.

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2722 days ago

Minoan – a few Thoughts from Greece

I have not written about AIM listed Minoan (MIN) for a few weeks but my recent Greek trip prompts me to make a couple of observations. Bullish ones for the record.

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2726 days ago

Exclusive: Evil Knievil goes short of Blur – reopens Quindell short

No not the pop group, but the AIM listed tech stock whose shares have already collapsed by 50% after certain issues with revenue recognition came to light. 

But bear raider Evil Knievil reckons that there is more bad news to come for Blur (BLUR) and 

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2734 days ago

Iofina Shares Collapse – victory over the Bulletin Board Morons & cretinous analysts at Numis Securities

Oh dear, oh dear… I have warned you numerous times to sell shares in AIM Cesspit listed Iofina (IOF) because it was burning cash and set to run out this spring and today the company has finally fessed up and admitted that I was right all along. The shares have collapsed by 56% to just 24.5p. So Numis (who reckoned a month ago that the shares were worth 156p) how much do you pay the analyst who served up that crap? Give my cat his job instead!

I have been warning about Iofina for more than a year and each time the Bulletin Board Morons responded with:

a) general abuse directed at me
b) claims that I did not understand the Iodine industry
c) references to Numis buy notes with 156p targets. 

It is clear that those buy notes were not fit for use as loo paper.  It might now dawn on the Bulletin Board moron

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2757 days ago

blinkx Statement Re its arch critic Ben Edelman: Ben promises full response on Saturday in London

Controversial AIM listed blinkx (BLNX) has today issued a trading statement and an attempted rebuttal of the criticisms made by star internet guru Ben Edelman two months ago.  But Edelman is not bowed and promises a full response in five days’ time in London.


blinkx stated today:

blinkx today also published a detailed response to a blog post dated 28 January, 2014 ("the blog") that questioned the Company's business model and practices. blinkx strongly refuted the assertions made in the blog at the time it was published.  Since then, the Company has completed a thorough internal and external review of the assertions made in the blog, detailed in the response, which has been posted on the Company's website (www.blinkx.com/corporate/blog).

Ben Edelman has responded to me by email:

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2758 days ago

Green Dragon Gas – Court case Lost? $70 million needed fast?

AIM Cesspit posterboy Green Dragon Gas (GDG) announced in December that its appeal in a Singapore Court case which it has lost, against Conoco Phillips, had been postponed. However it stated that it would probably be heard in the “first quarter of 2014.”  I do not wish to be seen as a total pedant, but the first quarter ends tomorrow.

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2764 days ago

Kennedy Ventures – A TOTAL LIE to shareholders: sue me if you dare!

Interim results from AIM Cesspit listed (Dead) Kennedy Ventures (KENV) out today are – as you would expect lamentable. The company now has net assets (taking a charitable view) of less than £30,000. At 1.55p the company is valued at £419,000. And it has lied to its shareholders – go on folks, sue me for libel, you know where to get hold of me. So where do I start?

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2774 days ago

Bushveld Minerals – The Breakfast with Fortune

I was meant to be cooking Fortune Mojapelo, the CEO of AIM Listed Bushveld Minerals (BMN) breakfast at Real Man Pizza Company in Clerkenwell, but the fellow missed out on a cracking omelette as he failed to show. But I tracked him down later and we had a good chat. 

I can forgive him for snubbing my cooking and for the greater sin of having trained as a management consultant, for Fortune seemed a competent and realistic fellow.

Bushveld’s share price was smashed in the autumn by two founder shareholders placing out big lines of stock in a cask-handed manner. At 5.45p with a value of £22 million are the shares cheap? 

Hmmmm. There are a number of points here.

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2775 days ago

Wolf Minerals – The World’s Number One Mining analyst Vindicated

Yesterday I pointed out how Wolf Minerals (WLFE) the AIM Cesspit and ASX listed wannabbee miner had engaged in typical pump and place activities which will inevitably see some PIs (the folks paying 26p two weeks ago) screwed as institutions get in on a placing at sub 20p.
 

Actually we do not know what the placing price will be yet, Wolf has not got around to letting us know. Perhaps its board is too busy enjoying spending the A$1.2m they trouser collectively each year. You can read about the pump and place HERE.


While we mere mortals were fooled by this operation I should flag up that the World’s Number One Mining Analyst Roger Bade of Whitman Howard was not legged over. Writing after an operational update on 20th January the great man opined: 

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2782 days ago

Breakfast Q&A with Paul Atherley of Leyshon Energy: BUY

To London yesterday for an early morning breakfast with Paul Atherley of AIM listed Leyshon Energy (LEN) which at 5p trades at net cash. So is this going nowhere? Far from it. The Q&A follows.

Q. What happened your Chinese gas – is it toast?

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2783 days ago

Phorm – who is playing dirty?

Last week AIM Cesspit listed Phorm (PHRM) was presenting to potential investors at the offices of its London broker Mirabaud. Among those to whom it presented was the bear raider Evil Knievil. I have a lot to say on this AIM Cesspit listed enterprise but let’s start by getting dirty. 

Mr Knievil called me in great excitement on Friday. What aroused my interest was a claim he made that he had been told in the meeting that Phorm reckons that Google was engaged in some sort of dirty tricks campaign against it so terrified was the web giant of the threat posed to it by or AIM listed minnow – a company that has in six years ploughed its way through $328 million. Its last reported results (interims) showed revenues of $28,545.

Instinctively, as I noted yesterday 

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2785 days ago

W Resources – Sell – when’s the heavily discounted placing?

Shares in AIM listed miner W Resources (WRES) have perked up by 0.05p today to 0.97p valuing this fine enterprise at c£20 million. But fear not, this is the AIM Cesspit, so here  are four reasons why you should sell as there is a placing ahead. 

  1. Edison pushing out a bullish note (remember that it is paid to publish) is always a good sign that a placing is imminent.
  2. This company is a perennial placer – in 2013 there were five placings. Leopards….
  3. There has been a flurry of RNS statements of late. That again is a sure fire sign that a company is planning a placing and trying to get a bit of excitement (the pump) ahead of the dump.
  4. Cash. This is the critical issue. 
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2796 days ago

Monitise – Surely the valuation is a total joke?

I realise that AIM Listed mobile banking technology group Monitise (MONI) is a Bulletin Board darling and so penning this piece will generate heaps of abuse for me (plus ca change). I am prepared to accept that this is a fine company but surely a £1.15 billion valuation at 70p is quite simply insane?

A hat tip to the great Paul Scott for flagging this up. His initial comments have prompted further thinking on my part. As such, following its interims yesterday I offer up a few red flags which make me thing this is a screaming short.

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2799 days ago

Magnolia Petroleum – 10 Reasons to Avoid a Bulletin Board darling: shares are 75% overvalued

AIM listed Magnolia Petroleum (MAGP) used to be a bit of a Bulletin Board darling as its shares soared to 6p plus. The shares are now 2.2p, the house broker reckons they are worth 4.2p but a £20 million price tag really seems far too high for me. I’d sell now and look elsewhere. Sorry to enrage its devoted Bulletin Board followers but here are 10 reasons why.

  1. The history of US onshore oil companies that list on Aim is dire. I have been in this game for 25 years and struggle to think of a success. I can think of numerous failures. If you have quality assets you raise funding in the US, the reverse is invariably true.
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2811 days ago

Human Psychology and why Vialogy is a buy

I tipped this stock on my Nifty Fifty website I run with Steve Moore on Monday at a 0.19p offer price. The shares are now 0.19-0.21p and are nothing if not volatile.

For more than a year I was a bear of AIM listed oil technology company Vialogy (VIY). Despite years of non-delivery, of management greed and the fact that it was obviously running out of money Bulletin Board posters abused me all the way down from 2.5p to 0.4p and generally stood by the board. In the end I bought a few shares which I still own, went along to the AGM and “played up” – there was very quick boardroom change in response to “the terror.”

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2832 days ago

Leyshon Resources - The Time to Buy for the Manzoni X Factor is the 23rd as Leyshon Energy

Shares in AIM listed Leyshon Resources (LRL) perked up from 6.5p-6.75p at the end of last week to a 7.25p-7.5p yesterday on the back of the company’s announcement of General Meeting approval for its proposed demerger of its energy assets. Today the shares are down at 1.62p but panic not. There is more to come. Yes this is a share tip. Let me explain.

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2833 days ago

Q&A with Tim Baldwin, Non-Executive Chairman of Cientifica PLC

I met up with Tim Baldwin, Non-Executive Chairman of Cientifica (CTFA), an AIM listed investing company focusing on the acquisition of businesses making use of advanced materials, graphene and emerging technologies the other day. I do not get ‘investing companies’, so why is this one different? I had a few questions for Tim – with the share price at 3.375p, his company is valued at just £800,000.

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2833 days ago

Awesome New Menu Launched at Real Man Pizza Today

Serial entrepreneur David Lenigas is a busy man running a stack of AIM listed companies but he is also a bit of a gourmet (should that be gourmand) and has suggested a new recipe for  our Real Man Pizza company restaurant in Clerkenwell. And so as Real Man launches its enhanced new 2014 menu today… 

We bring you three additional pizza recipes including “David’s Thai Prawn Pizza” – king prawns, satay sauce, julienne carrots, fresh coriander, green onion and peanuts on a thing crispy pizza base.  There are two other new pizzas, a smoked salmon pasta dish, three new salads and three new pudding options including Reda’s Chocolate Mousse cake which is heavenly.

Roll up, roll up at 91-95 Clerkenwell Road, EC1R 5BX from 12.30 today for a Real Man (or Woman) gourmet experience.

You can see the full starter and main course menu here. [PDF]

You can see the full pudding menu here. [PDF]

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2844 days ago

Ukrproduct – Getting Another Dire Profits warning out on a quiet day

I have noted before that the way that AIM Cesspit listed Ukrainian dairy products group Ukrproduct (UKR) announces bad news smells like a six week old pot of cream left in the baking sunlight of the Steppe in August. And so as 90% of share-watchers enjoy their last day off, the company has slipped out another dire trading statement.

You can read my comments on the curious way this company announces the departure of directors, all signed off as kosher by corporate adviser Mr Dick, HERE

Today’s statement confirms what we all suspected. EBITDA for 2013 will be sharply down on 2012. Blame higher milk prices, ripples in the soft cheese market, whatever – it is hard to imagine that doing business in the Ukraine right now is that much fun.

Worse still the heavy debt this company now carries means that the I (for Interest) number has gone up sharply. So what is the bottom line number (i.e. Profit before tax) going to be? I refer to today’s statement.

Net income will be impaired by the sizeable increase in interest charges arising from the EBRD loan leading to the negative net profitability for the year.”

Put another way this company is loss making. It blathers on about how it “plans to return to positive profitability in 2014.”

You know what? I have made plans for 2014. After watching West Ham lift the Premiership trophy on the final day of the season following a five month run of 3 points from every game with Carlton Cole scoring hat-tricks every match, I am off on a one week romantic break with Cheryl Cole in the West Indies. I cannot wait. Neither, I am sure, can Carlton and Cheryl.

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2860 days ago

Electric Word – trading Update a Cue to buy

Electric Word (ELE) has updated on “good progress in 2013 in what has been a year of significant change, including at board level”. The company’s year to 30th November 2013 saw a new Chairman and Finance Director appointed, with it now updating that “trading is in line with the board's expectations, with profit growth in the Sport & Gaming division complemented by increased investment in Education”.

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2862 days ago

Ukrproduct and the director resignation time machine in action once again – No comment from Mr Dick

I guess the Ukraine is not the happiest place to be doing business (or indeed anything) right now and that brings me to Ukrproduct (UKR) the AIM listed Ukrainian food producer and its curious director resignation time machine. 

For today it has announced that its CFO, Ms Tetyana Komarova, has resigned from her position as Director of the Company to pursue other business interests. Her resignation is effective as of 15 November 2013. Yes, that is a month ago. So will she be repaying half her November pay cheque? What about the idea of giving notice? Or does that work in a sort of reverse way in the Ukraine?

This is not exactly a one off. On 25th October this year the company announced that its Marketing and Strategy Director, Ms Kateryna Kryuchko, had resigned as a director of Ukrproduct, to pursue other business interests. That resignation became effective as at 30th August. So did she hand her September pay cheque back?

Surely Ukrproduct is not breaching AIM rules by not announcing resignations as soon as they occur? I called up the corporate advisor Mr Stewart Dickson at Cannacord. Stewart used to be called Stewart Dick but changed his name for some reason that I cannot possibly fathom. Anyhow Mr Dick

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2867 days ago

Kefi – Creative destruction, Schumpeter's Gale: it’s all good news

Schumpeter was an economist of a Marxist bent and thus his thoughts can neatly be summarised as those of a prize loon who was wrong on all counts. But his concept of creative destruction can in a variant form be used to describe the beauty of capitalism and that brings us to what looks to be a cracking deal for AIM Listed Kefi Minerals (KEFI) announced today. I met up with the Kefi team yesterday and was made an insider and so have had time to ponder.

The main guy at Kefi (no offence to non exec Harry Adams) is Jeff Rayner who I first encountered donkeys years ago when he was a geologist at Gold Mines of Sardinia. He is a solid chaps who quite obviously would rather be chipping rock samples in the desert than talking to City tossers. But unlike rather to many geos he also has a clear commercial mind. Jeff runs a business not an academic project. 

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2877 days ago

Scotgold Resources – Rights Issue: Give it a miss this is a joke

I approve of AIM Cesspit listed companies doing rights issues rather than discounted placings to City insiders. But not when the company in question is, to use the technical term, fucked. That brings me to dual listed Scotgold (SGZ) which, I have noted before on this website, is a total POS.

Last week with the shares at c1p it announced a 3 for rights issue at 0.5 cents (0.28p) per share. The fact that this company is doing a rights issue not a placing is nothing to do with its hopeless directors believing in shareholder democracy but everything to do with the fact that City punters just will not play ball. That is because ScotGold is fucked.

The company owes £1.5 million to a bank (RMB) that was mad enough to lend to a pre-production company. It has said that it may roll that loan (due for repayment before Christmas) over as long as 

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2881 days ago

Leed Resources – Crony Capitalism on the AIM Cesspit: Peter Redmond answer your frigging phone you overpaid failure

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.

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2883 days ago

Summit Corp & Dr Steve Davies: They just can't get enough, no they just can't get enough

On 14th October 2004 a company called VastOx listed on the AIM Cesspit. That company is now known as Summit PLC. In light of an announcement issued today by Summit (SUMM) I suggest you first read the RNS from 14th October 2004.

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2886 days ago

Does Green Dragon Gas go tits up next week?

AIM listed Green Dragon gas (GDG) has yet to offer any explanation to the bloody dossier containing pictures of Chinese villagers beaten up, apparent environmental vandalism in the US and questions on other matters. But that may be the least of its worries. 

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2890 days ago

Buy 1Spatial at 8.125p (I am 100% up already on this tip) - target 12p by Christmas

AIM listed 1Spatial (SPA) has announced a contract extension which sees that “approximately $1 million will be payable to 1Spatial and recognisable during the financial year to 31 January 2014, and 31 January 2015”. The shares now trade at 8.125p meaning that Steve Moore and I are 100% up on  this tip on our Nifty Fifty site – there is more to come.

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2910 days ago

Buy Kryso Resources

Currently AIM-listed, Tajikistan-operating gold company Kryso Resources (KYS) looks to have taken a further step towards an intended Hong Kong listing having appointed a ‘sponsor’ for the move. So what does this mean for the shares? We tipped them at a 33p offer on our Nifty Fifty site – they are now 39.75p

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2911 days ago

Globo – Matt Earl the dark destroyer weighs in as the company issues bizarre statement

AIM listed Globo (GBO) is a stock that both Lucian Miers and Evil Knievil are shorting. I reckon that it is a slam dunk sell as does the Closet Chartist. But the dark destroyer is top analyst Matt Earl who has today published a seminal piece of forensic analysis. Anyone not selling after reading Matt’s article is mad. And an RNS out today is bizarre.

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2915 days ago

Great Western Mining City Presentation – Libel Action, Survival, Plan B?

I arrived late and so missed the presentation by AIM listed Great Western Mining (GWMO) – a company where I have – correctly – been mega bearish for some time. However free booze was on offer and so I stayed for a long chat with the management and a couple of other stakeholders. I think I may have to initiate legal proceedings against non exec Mr Christopher Hall but that was not my only conclusion.

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2918 days ago

Buy Amara Mining at 14p

Investment Case: Having made some less than flattering comments on what benefit shareholders in AIM and Canada-listed gold miner Amara Mining (AMA), the former Cluff Gold get from having Peter Hain MP on the board as a non-executive director, I sense the company’s Chairman John McGloin met up with me with some trepidation a couple of weeks ago.

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2921 days ago

Enables IT Trading Statement – Buy tip on track

I suggested buying a few shares in AIM listed Enables IT (EIT) at 37p eight days ago. After a trading statement the shares are now 42p but will go higher. And here’s why.

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2923 days ago

Lombard Interims - H2 will be stronger: buy

AIM listed Lombard Risk Management (LRM) has, for its half year ended 30th September 2013, reported a 5% decline in revenue (to £7.26 million) compared to the corresponding 2012 period and a net cash outflow before financing activities of £1.98 million, though has “continued confidence in meeting the full year revenue forecasts in the market” (£19.4 million) and states “the second half of the financial year can be expected to be appreciably cash generative”

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2923 days ago

Falcon Oil & Gas – meet up with CEO Philip O’Quigley

A foxy PR bird called some weeks ago and asked if I cared to meet up with Philip O’Quigley the CEO of AIM listed Falcon Oil & Gas (FOG). The name O’ Quigley rang a bell, and the PR bird was a foxy tease, and so I agreed. I can see the speculative upside in Falcon’s tale, it is not one to bet the ranch on but it might be worth a flutter.

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2925 days ago

An Idea Pinched from Geoff Miller – the West Ham LinkedIN Endorsement

Geoff Miller posted a piece earlier today on the West ham LinkedIn members group of which I am a member. The boss of AIM listed GLI Finance (GLIF) is quite a witty fellow and his piece reads.


I have added "West Ham Supporter" to my list of Skills and Expertise on LinkedIn, and it would be great if anyone that is connected to me could endorse me, and if you are not connected to me, feel free to send me an invite to connect.

Having thought about what skills and expertise should appear on my LinkedIn profile, I realised that the unfailing ability to genuinely look forward to every season, the extraordinary ability to ignore all the bad times and relive the good times again and again and again, to exclaim that WHU is the greatest football team the world has ever seen, and mean it sincerely and completely, should be reflected on my LinkedIn profile, far more than all the work guff that gets peoples' endorsements at the moment.

Hence I have added "West Ham Supporter" to my Skills and Expertise and I would like to invite everyone to endorse me.


I feel the same. If you are on LinkedIN (a tedious version of Facebook for grown-ups) you will see that I am quite often endorsed for things like blogging but on reflection my most consistent skill over the years has been “Supporting West Ham in Bad Times and Worse” and feel free to endorse me accordingly in my LinkedIn page.


 

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2925 days ago

Paragon Diamonds Gets Lesotho License – bank gains?

I predicted 38 days ago that AIM listed Paragon Diamonds (PRG) would soon announce that it had a license to mine in Lesotho and suggested it might be worth buying a few at 4.875p. The shares are now 6.31p to sell so do you bank a 30% gain from my hot share tip?

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2929 days ago

Q&A with Greg Kuenzel of Noricum Gold


I met up the other day with Greg Kuenzel, CEO of AIM listed Noricum Gold (NMG) for a catch up on a summer drilling campaign which seems to have thrown up some interesting grades. A number of questions spring to mind about this company which, at 1.1p, is capitalised at just £10 million.

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2930 days ago

Enables IT – US contract win announced Monday shows the way: Buy at 37p – initial target 50p

Enables IT (EIT) the AIM quoted provider of cloud, managed and IT consultancy services formerly the dig known as Nexus, announced a $1 million contract in the US. Other similar deals are, I gather in the pipeline and this creature is starting to look like a solid fundamental buy.

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2935 days ago

Green Dragon Gas - Explosive Dossier?

I was passed a dossier on £312 million capitalised AIM listed China energy play Green Dragon Gas (GDG) last week and it appears explosive. I invite you to see for yourself.

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2935 days ago

Q&A with Mike Wallis CEO of Enables IT

AIM Listed Enables IT (EIT) was formerly known as Nexus which in turn was formerly known as something else. Will its third incarnation after its second RTO turn around the fortunes of what historically has been a bit of a stock market dog. I met up with Mike Walliss the CEO of the enlarged network and IT solutions group to find out.

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2936 days ago

Buy Lombard Risk Management at 12p

Investment Case: A leading international provider of collateral management, liquidity and regulatory reporting and compliance software for the financial services industry, AIM-listed Lombard Risk Management (LRM) looks strongly positioned amidst the increasing waves of regulation in financial markets following the most recent crisis. With this positive momentum and strong longer-term valuation upside scope, the shares are a buy at 12p (spread: 11.75p-12.25p). 


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2937 days ago

Buy GLI Finance after interims and placing

GLI Finance (GLIF), the specialist AIM listed lender to small and medium sized enterprises currently generating most of its income from a US-focused Collateralised Loan Obligation (CLO) portfolio, has announced results for the first half of the 2013 calendar year and that it has conditionally (including on EGM approval) raised a gross £4.59 million from a 51p per share placing. The shares are now 52.75p and a buy.

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2938 days ago

Straight Interims - Buy

AIM listed Environmental home and garden products focused Straight plc (STT) has announced results for the first half of the 2013 calendar year, affirming that it “is in a good place to build on its achievements this year.”  As you know, I am heavily into all this green shit but ignoring my eco-friendly nature the maths stacks up – the shares are a buy.

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2939 days ago

Vialogy – Bulletin Board Morons take another beating – awful finals and the smell of death

I have been writing bearish articles on AIM Cesspit listed management lifestyle (oops, I meant to say oil services) group Vialogy (VIY) for more than a year since the stock traded at 2.125p. The Bulletin Board Morons gave me consummate grief. I see the shares have plunged today on the release of dire financials to just 0.68p. My target remains 0.01p for this worthless POS. It has the smell of death.

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2943 days ago

1Spatial Interims – We are more than 100% ahead: what now?

Steve Moore and myself do not claim to be perfect but we get it right more than we get it wrong and we tipped AIM listed 1Spatial (SPA) at an offer price of 4p ten months ago on our Nifty Fifty premium website. The stock is now 8.5p-8.75p so what next?

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2949 days ago

Sovereign Mines of Africa – when’s the cash call?

We have had the pump now when’s the dump – the placing of new shares ? It is now only a matter of time for AIM listed Sovereign Mines of Africa (SMA) which at 3.5p is valued at £8.3 million. The company is clearly sub scale as a gold explorer and its cash position is dire. Come on Sovereign – it’s time to fess up: how much will you be diluting shareholders to hell and when? I am sure that your slimeball broker Jerry Keen of Shore Cap is already on the case. 

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2950 days ago

K3 Full Year Numbers - a recovery buy

AIM listed tech stock K3 Business Technology (KBT) has announced results for its year ended 30th June 2013 reflecting "very weak markets, especially in the retail sector, at a time of major investment in Project Gemstone, which is delivering a new Microsoft-certified AX solution for the retail market” , but reports that it ended the year "very encouragingly.”

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2952 days ago

What does AIM listed Amara Mining get from Peter Hain MP?

There are some Non Execs who add credibility and there are some who are just a pointless cashburn – meet Peter Hain Labour MP for Neath and a Non Exec at Amara Mining (AMA) since March. Shareholders in this company have lost a packet so what does Hain bring to the table?

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2953 days ago

Buy Symphony Environmental at 7.25p

I tipped AIM listed Symphony Environmental (SYM) on my Nifty Fifty website last week at a 6.75p offer price. The shares are now 6.75p-7.25p so we are all square. But even at a 7.25p offer, valuing Symphony at c£9 million) the stock is cheap. I met up with the CEO Michael Laurier

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2960 days ago

Obtala Resources – hot money is buying

It seems that the market mood is changing and the next beneficiary could be AIM listed Obtala Resources (OBT) – the hot money is buying and reckons that the shares will rocket from 6.625p in the middle today.

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2960 days ago

Q&A with Sally Schofield of AIM Listed Edenville Energy

I met up today with Sally Schofield, the executive chairman of AIM listed Edenville Energy (EDL), and Rufus Short, NED, in the wake of today’s publication of a scoping study on the Rukwa coal project in Tanzania.

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2973 days ago

Northern Petroleum: Canada Update and meeting the new head honcho Keith Bush

AIM listed oil stock Northern Petroleum (NOP) announced last week that 3D seismic data purchased and interpreted since the company acquired its leases in northern Alberta, Canada “has increased the number and type of drilling opportunities available on the land… (these) include the identification of undrilled reef structures as well as reefs which may benefit from drilling up-structure from the previous entry point”. With also formal assignment of existing wellbores from previous operators taking longer than usual (the drilling of a new well and a side track not affected by this), the company notes that “the final proof of concept well sequence will be adapted to reflect this”

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2984 days ago

Pinsent Masons Quitting as Sefton Company Secretary – Vindicated on Conflict of Interest

When did uber expensive Bully Boy City lawyers Pinsent Masons quit as Company Secretary to POS AIM listed company Sefton (SER)?  We do not know. The Sefton website still showed the bully boys as Company Secretary earlier this week. But it has now stepped down (Nomad Allenby has confirmed this) to be replaced by IR genius Dr Michael Green.

The last man to be Co Sec and IR officer at Sefton at the same time was, of course, Colorado dentist Gary Dillabaugh. I have always wondered what sort of Doctor Michael Green was. Is he a dentist as well?  Do you need a medical qualification to be the IR manager/Company Sec at Sefton? Questions, questions.

I wonder does Jim Ellerton also owe Doc Green hundreds of thousands of dollars? I suspect not but you never know in the crazy world of Sefton.

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2986 days ago

Exclusive: Q&A Session with Dave Paxton of Vatukoula

Today I ask David Paxton the CEO of Vatukoula Gold about the news on 12th August that his company has secured $40 million in new financing from China’s Zhongrun and where it leaves investors with the shares at 8.15p.

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2986 days ago

Guess which company refuses to comment to the National Press about a 4 year old court case?

One of the National newspapers is onto this AIM listed company and wants to run a piece. But the company is refusing to comment on this case which took place 5 years ago and which saw its Executive chairman claim under oath that shareholders funds were paid to a Dentist which meant that his personal liability to that dentist was cleared.

Have you guessed which company yet? Why can’t that company just deny the story? Answers on a postcard to the AIM regulation department please.

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2987 days ago

Creon Resources - who is trading?

AIM listed Creon Resources (CRO) has seen its shares zoom ahead in recent weeks to 0.625p, valuing it at £17.2 million, amid rumours that there is an interesting new investor set to come on board. Supporters reckon that the shares are heading to 2p. Hmmm.

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2990 days ago

Reach 4 Entertainment – The Big Negative Removed

We knew a three weeks ago that AIM listed  Reach4Entertainment (R4E) was trading in line and was making further progress at tackling central costs by parting company with grossly overpaid FD Shirley Stapleton. I called the stock a recovery play at 3.75p then but with one caveat. That caveat has now gone and the stock at 4.75p is a clear buy as a share tip.

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2990 days ago

Sefton - Two Questions

A week away and much to my surprise there has been no news from Sefton Resources (SER), the AIM Cesspit listed POS that is suing me for libel. I see the shares are now at 0.475p, under the MA line which in charting terms, I am told, means they are a mammoth sell ( upside is capped at the MA) the initial target price would be 0.275p. Charting is bollocks. And, in this case, generous, my target price remains 0.01p. But there are two howling questions for Sefton.

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2990 days ago

Concha – back on Aim but who is aboard the Akers Express?

Concha (CHA), the latest vehicle of investment hot shot Chris Akers managed to complete a £1 million placing at 0.35p and another acquisition in time to announce at 7 AM on Friday. Had it left it any later its shares would have been booted off the Cesspit. As it is they moved ahead to 0.41p – valuing the company at £3.3 million. The Akers express has left the station. I sense it is now full steam ahead.

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2997 days ago

Led astray at Real Man by the Irish bird and her pal with a ring in her nose

My partner’s parents would rather she had hooked up with a nice respectable dentist or accountant than with myself. I really don't blame them at all. And if they could only have seen the mayhem last night in The Corner of Clerkenwell that is Real Man Pizza their doubts and revervations would have gone off the Richter scale. Put it this way, I awoke to find myself lying fully clothed on a sofa just inside Real Man’s front door. I cannot remember how I got there and I do not feel terribly sharp today.

Colourful James was an early arrival at Real Man with two women in tow. As they sipped Camparis and James downed Curious lagers I stayed sober and responsible knowing that the CEO Of an AIM listed company was on his way for a catch up meal with me.  He duly arrived and we were joined by a colourful member of the PR community and four bottles of wine later we had put the world to rights.

They trundled off and I was just starting to think that I could do with a sleep when fifteen younger people turned up asking for a pizza. The pizzas flowed, the wine flowed, I was sucked into the conversation by an Irish bird and a bird with a ring in her nose which we all agreed she should remove. The dancing on the tables started, more wine flowed, the limoncella flowed…

And so today is a light blogging day.

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2998 days ago

Leyshon Resources: on track and cheap

AIM listed China oil and gas play Leyshon Resources (LRL) has released a report covering the second quarter of 2013 - which emphasises that it remains “well placed” to continue advancing its exploration and appraisal of the Zijinshan gas project in central China. So are the shares a buy? Yes.

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2998 days ago

On the AIM Cesspit a raft of RNS = Placing Ahoy

Proper fund managers are not interested in small cap AIM listed companies worth sub £20 million. As such if you run such an enterprise and wish to raise money you have 2 choices and both need you to ramp your stock and that means fleecing the Bulletin Board Morons.

Choice one

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3001 days ago

Share tip: Buy GLI Finance at 51.5p

AIM listed GLI Finance (GLIF) -  formerly Greenwich Loan Income Fund -  has updated investors on its second quarter of 2013. The share price just does not discount the good news.

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3005 days ago

Arian Silver – More Bullshit from the Sheep shaggers as Uber Expensive Funding announced

AIM Cesspit listed Arian Silver (AGQ) has overdosed on its equity drawdown death spiral. It failed to attract any interest for a share placing a few months ago as I exposed on this website provoking much anger from its dickead of a PR man. And so it has issued convertible debt which is incredibly expensive – this company really is desperate.

 

It has not yet actually raised the C$15 million it says that it is doing but has signed up a leading Canadian specialist broker and it says it has one punter who will take the whole lot. I will humour the uber Welsh boyos at Arian by saying that the debt issue will go ahead.

See chaps I am a nice guy. So there is no need to complain about this article. Leave the bleating to your girlfriends. Damn,

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3007 days ago

IQE Trading update - as cheap as chips?

Shares in semiconductor wafer manufacturer and supplier IQE plc (IQE) have offered a volatile ride since I tipped them on my Nifty Fifty website at a 28.5p offer price in December – hitting 36.5p in January and February before falling back, particularly following some (what look misguided) competition concerns to commence the current month at just 18p. However, they have since recovered strongly and have nudged further higher today to 26.75p-27.25p on the back of a bullish update. They are still cheap.

I say that notwitstanding the fact that the PR bird for IQE is uber prudish Kay Larsen of College Group who thinks that I am a pornographer obsessed by sheep shagging.  Kay confuses goat milking with sheep shagging. She needs to get out more...

Anyhow, back to IQE who are based in Wales where no-one has ever molested a sheep.

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3007 days ago

Exclusive: Evil Knievil buys Orosur Mining in size and predicts "market and Gulf Keystone Collapso"

Shareprophets can reveal that infamous bear raider Evil Knievil has acquired a near disclosable stake in AIM listed mining stock (OMI) after buying heavily at c7p. The shares are now 9.875p valuing Orosur at £7 million but Knievil (the alias of Simon Cawkwell) argues that on a break-up basis the gold producer is worth $30 million

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3007 days ago

Leyshon - Time to Get back in?

AIM listed oil and gas stock Leyshon Resources (LRL) has announced the commencement of drilling of well 'ZJS7' on the Zijinshan gas project in China – this at a location approximately three kilometres to the northeast of well ZJS5 after a recently completed formation pressure test there, following a three week shut-in period, “recorded 16.5MPa/2425psi on a single zone, significantly higher than that recorded in nearby wells in the same strata”.

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3019 days ago

Lombard Risk Management Placing - this is why private investors vomit at the mention of AIM

John Wisbey the CEO of AIM listed compliance software group Lombard Risk Management (LRM) is a good friend of mine. Or at least he was - he may decide that he is not anymore after he reads this. Recent events at his firm show private investors once again being screwed on the AIM Cesspit. John is a good bloke & Lombard a good company but this is why mug punters are turned off listed markets. Here goes.

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3020 days ago

Exclusive: Evil Knievil goes short of Cyan

I can reveal exclusively that infamous bear raider Evil Knievil has opened up a short in AIM Cesspit listed Cyan Holdings (CYAN) at 0.35p. Knievil’s old adage is “the best time to kick a man is when he is down” and Cyan is certainly down, if not yet out, following its (lack of) profits warning earlier this week.

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3021 days ago

Bullabulling - VSA Note: This company is worthless even at a $1400 gold price

Broker VSA initiated its coverage of dual listed hole in the ground wannabee gold miner Bullabulling Gold (BLG) at 7.15p with a speculative buy stance last October. With the shares at 1.875p the unrepentant broker’s stance is unchanged on this AIM Cesspit posterboy.

I guess VSA was half right; Bullabullshit is highly speculative it is just the buy but that was a duff call. Even VSA which seems to be a fully paid up member of the Bullabullabullshit fan club admits that at current gold prices (or indeed at $1400) this stock is worthless.

The gold price is now $1250 oz. It is all very well

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3021 days ago

Sefton Resources Kansas Part 1 - surely not another misleading statement?

I ask you to cast your mind back to November 2012. The 15thto be exact. It was when AIM Cesspit listed Sefton Resources (SER) announced the acquisition of new oil operating assets in Kansas. It was all terribly exciting stuff. 

The company stated that in an RNS of that day: 

Competent Person Dr Nafi Onat has made a study of the oil fields in Northeast Kansas for Sefton, from which detailed information was announced on 12 March 2012. Below are some of the key points that he has made on the potential of this area for oil and gas production.  

Analysis of 320 wells on 23 McLouth fields reveals initial average production was approximately 27 bopd and 350mcfg per well during the first month of production. Based on completion reports and deliverability tests, initial gas producing fields varied from 150 mcfg to 2mmcfg per day.

Frigging hell. Sefton paid only $200,000 for these assets and what is that about 27 bopd in month 1? Cripes this sounded exciting.

On December 7th 2012 Sefton issued shares to stop it going bust by Christmas. It raised c £700,000. But heck with those exciting Kansas wells surely this was a winner.  Hmmmmm.

Now wind forward to this month

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3022 days ago

Ariana at 1p worth 5.51p says Edison - you sure fellows?

Do not get me wrong – I like AIM listed gold mining stock Ariana (AAU) and think that the stock is cheap at 1p but the latest research from paid for researcher Edison is, er….complete crap.

The note from uber-posh analyst Charlie Gibson kicks off with the following statement:

Ariana has announced the outcome of its final Definitive Feasibility Study (DFS) for the Kiziltepe sector of its JV Red Rabbit project.

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3022 days ago

Lombard Risk Management Corporate Governance - That's the way to do it

No this is not a boring piece about corporate Governance and the number of meetings that an Audit Committee should hold each year. Read on. I am making a valid point about the corruption on AIM.  Bear with me.

Generally I do regard the subject of corporate governance like that of the Corporate & Social Responsibility (CSR) of a PLC as an excuse for tedious people in suits to pontificate and then submit a bill to the PLC concerned. It adds no value, it hurts the bottom line and thus it costs shareholders cash. But just occasionally there is a serious issue.

The biggest failing of AIM (and indeed the LSE) in this respect is that Non-executive directors are in so many cases not independent

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3023 days ago

AIM Cesspit posterboy Cyan Indian Delay - when's the next cash call?

Cyan Holdings (CYAN) is a true posterboy for the AIM Cesspit and after eight years of non delivery it seems that nothing changes with a disastrous announcement from India today – the only real question is when is the next cash call?

To put the true disaster that is Cyan into perspective consider this. The company listed on AIM in 2005. It has to date clocked up losses of £26.5 million. Its revenues in calendar 2012 were a mighty £315,194. And it is not even as if it is on the growth path

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3025 days ago

Stanley Gibbons – The Funny Old world of The Stamp Industry Rumour Mill

An email arrived Friday from a reader in the Stamp Industry. The Stanley Gibbons (SGI) Flagship store on the Strand was shuttered up. The world on the street was that staff of this AIM listed company were being briefed about a shock boardroom departure. Cripes… er not cripes.

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3027 days ago

How do you turn £40 million into $400 million and then into $100,000? Ask African Eagle

The story of AIM cesspit woe that is African Eagle (AFE) continued apace this week with news that all of its assets have been put into a company called Blackdown and that African is to sell 90% of that company for just $100,000. Actually it will not make that much from the sale but more on that later.

The bare fact is that in just over 10 years on AIM and a few years on Ofex before that African has raised and spunked away around £40 million. A good part of that went on fees to greedy City advisors and to a rolling cast of senior management. You must bear in mind that you have to pony up to attract “the right boardroom talent.”

Over the years

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3028 days ago

AIM shares in ISAs - misguided folly driven by City misinformation

There is great celebration in some quarters that AIM shares will be allowed in ISAs – that is all AIM listed shares not just those with a dual listing as was the case in the past. I do not share in these celebrations but regard what has happened as pure folly which will see a transfer of wealth from low and middle income savers to overpaid City folks and overpaid AIM directors.

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3029 days ago

Sefton Resources Kansas update - do the maths

AIM Cesspit listed Sefton Resources (SER) has today announced that its June output in Kansas reached 500 barrels. That is up from 450 in May. That sounds good but I suggest that you do the maths because when you do you will realise just how dire this performance is.

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3031 days ago

Free share tip - Symphony Environmental at 4.125p

http://www.shareprophets.com/views/855/speculative-recovery-penny-share-buy-tip-symphony-environmental-at-4125p

 

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3035 days ago

Scoop: Bob Morton backs Enables IT (formerly Nexus) in £900,000 fund raise - acquisition imminent

A reliable market source tells me that legendary small cap investor Bob Morton has invested a material (if non disclosable) sum in a £900,000 fund-raising by AIM listed  Enables IT (EIT), the software business formerly known as Nexus. I understand that the funding will be at 36p and is due to be announced by the weekend.

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3035 days ago

The strange case of Iofina

I met Iofina (IOF) years ago and resisted the urge to tip the AIM listed shares. That was clearly a ghastly mistake as it has – until recently prospered, in share price terms, from building facilities to “mine” iodine.  On Monday its shares slumped by 40% at one point. The company said that there was no reason for that and they then rallied strongly. I suspect that this is a highly margined stock and that a small initial fall triggered stop losses with spreadbetters which then became a vicious circle. But at 150p with a £191 million fully diluted market cap would I be happy to own this AIM listed stock?

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3037 days ago

Woburn Energy suspended - another "win" for sleazy Tory MP Tony Baldry

Shares in AIM listed POS Company Woburn Energy (WBN) have been suspended today from the Cesspit. So if you ignored my prior warning to sell, tough luck it is too late now. And it could get worse, despite the heroic efforts of sleazy Tory MP Tony Baldry who is still picking up £3,333 a month for 4 hours work at Woburn.

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3037 days ago

Lighthouse Group – Long Term Value play? ( Guess who I met on a train)

I noticed this morning that AIM Listed Lighthouse Group (LGT) had put out a rather dull announcement. As such it was on my radar and as I sat down on the train from Bristol to London who should wander in but ex Lighthouse boss Allan Rosengren. I learned that Rosengren is Swedish not Norwegian as I had assumed and that he had bought a few more shares in Lighthouse taking his holding to 15%. So should we all follow him?

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3039 days ago

Change of stance - First Property is it worth the risk?

I have long been a fan of First Property (FPO) the AIM listed property fund manager and investor but its exposure to Poland is worry as all the signs are that out East the shit is about to hit the fan. I wonder if it is worth the risk of hanging on in First Property? On balance I wouldn’t.

So what is going wrong in Poland? Well it is an emerging markets economy. And there is a growing global liquidity crisis which traditionally sees secondary “growth” markets take a beating. I note that Polish construction activity in May plunged by 28%. That is pretty dramatic and suggests to me that the Polish economy could be set for a rather rocky patch.

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3044 days ago

Northern Petroleum - boardroom changes CAN matter

AIM-listed oil and gas company Northern Petroleum (NOP) has announced the departure of director Maurice Eaton who joined the company in 2007 and became Director of Operations in June 2011. The company added “Maurice’s departure is the first of a series of changes to board roles and executive responsibilities including the roles of Chairman and Managing Director planned during 2013”.

Although very long-term shareholders may still be in an ok position here – I initially recommended these shares as a hot tip at the equivalent of 13.75p in December 2001 – the performance in more recent years has been undoubtedly disappointing – the shares down from more than 160p in October 2009 and more than 100p as recently as May 2011 to a current 36p.

But the last sentence of this release is fascinating. Chairman Richard Latham has been a member of the company’s board since 1995 and was appointed Non-Executive Chairman in 1999, whilst Managing Director Derek Musgrove

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3044 days ago

Leyshon Resources shares plunge - what does that say about drilling risk?

AIM Listed Leyshon Resources (LRL) has announced that it has abandoned ZJS6, its second well drilled in the Ordos Gas basin. It states that it has encountered water in several zones and thus cites “technical problems” as its reason for pulling away.

The well did discover gas so is not a total wipe out but technically this will be very hard work and so quite rightly Leyshon has cracked on with the third of its planned eight wells in Ordos.

The shares have tanked by 30% on the news to 11.125p valuing Leyshon at just under £40 million (the same as Andy Carroll cost The Irons over five years if he signs with West Ham).  Which is worth more: Leyshon Resources or five years of old horseface? Discuss.

And so as a result the Leyshon Ordos scores on the doors are:

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3046 days ago

Truly shocking Guest Post Jonathan Straight - Banking On It

Jonathon Straight is CEO of AIM listed Straight PLC (STT). He is a reader of this blog, a good man and the owner of the most amazing moustache.  He wrote about how the banks and the big 4 accountancy firms have done their utmost to roger his firm on his personal blog a week or so ago. That post has now disappeared. Odd that. His tale is shocking and shows that all the Government huff and puff about forcing the banksters to lend to small businesses (SMEs) is sheer poppycock.  Jonathon writes:

I haven’t posted anything to this site for almost a year. The truth is I haven’t felt much like writing. I have been dealing with a problem for the past 18 months or so which has taken all of my time and energy. At times I have not believed what I have been seeing or hearing. It feels like a bad dream that I have just woken up from. The way that our bankers and their advisors have behaved has left me dumbfounded.

None of us in business has any protection from this coterie and it is high time that effective regulation was applied and that the cosy relationship between the big four audit firms and the big banks was properly dealt with.

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3051 days ago

AFC Energy, sleazy MP Tim Yeo and the question of cash

AFC Energy (AFC) listed on AIM in April 2007 with a stated aim of commercialising its fuel cell technology. Its chairman then and now was sleazy MP Tim Yeo. Investors in the original placing were told that the company would deliver multiple systems to customers by August 2008. Yup. Right. Natch that has not happened and the old guard (except sleazy Tim) departed a year ago. The New CEO Ian Williamson seems a decent fellow (we chatted today) but the current valuation (up 31% today thanks to a tip in the Mail on Sunday) is absurd. The valuation, the question of cash and the role of the sleazebag chairman are all matters of concern.

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3051 days ago

Sprott starting to offload Arian Silver - another reason to sell

Eric Sprott is Mr Silver. He is a passionate bull of the metal and his funds are the number one funds in the sector. About the only reason for buying shares in AIM & TSX listed Arian Silver (AGQ) was that Sprott was a major shareholder. But, oh dear me…he is selling.  How will Arian's prick of a PR man spin this one?

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3053 days ago

Guest Post Lucian Miers - PureCircle is an accident waiting to happen

I have taken Quindell Portfolio (QPP) off my “accident waiting to happen” list as it is now in the slow motion car crash category after a set of prelims that contained some very strange items, followed by two obfuscatory “clarification” statements.

This leaves a vacancy and so I have added my old friend Purecircle (PURE) to the list at 355p with a market cap of £592 million. It came to the market in 2007 as the world’s largest supplier of a product called Rebaudioside A (REB A) which is derived from Stevia leaves which are a natural, no calorie sweetener. Basically for every 30 kg of leaves grown, 3kg of crude extract would be produced in the company’s extraction plant in China and then moved to its refinery in Malaysia where it would be processed into 1kg of Reb A, a natural high intensity sweetener (NHIS) which was set to be a mass produced commodity as an alternative or complement to sugar.

That was the plan in the AIM admission document but like most battle plans, the plans you get in such documents rarely survive first contact with the enemy.

 

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3053 days ago

Goldplat - Profits Warning: Buy for Income

On Monday, Goldplat (GDP), the AIM-listed African gold producer, rather disappointingly warned that “EBITDA for FY2013 is likely to be materially lower than market expectations”. I am disappointed because I had tipped the stock at a higher level. But how many gold companies issue an alert and still seem set to maintain a bumper dividend? Not a lot. And that is why this is a buying opportunity for both income seekers and those wanting gold exposure.

Although the company notes

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3054 days ago

Are Lochard Energy shareholders mad? The latest statement on the Parkmead offer

On 23rd May it was announced that AIM listed Parkmead (PMG) was to buy AIM Cesspit oil stock Lochard Energy (LHD) in an all share deal worth c 4.9p per share. 41% of Lochard shareholders have agreed unconditionally but some – including the former CEO are trying to block the deal. With respect, they are tonto. My only surprise is that Parkmead has not walked away.


You may remember that the former CEO ran this company into the ground, was ousted and then used his lawyers to extract a $1.3 million payoff. That on its own should tell you that if he is voting one way you should automatically vote the other. He is clearly a prize shit.

Today’s statement from Lochard is grim. It is clear that

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3056 days ago

Enables IT - Something afoot?

Shares in AIM listed tech stock Enables IT (EIT) are ahead by 15% at 40p today prompting suggestions that something is afoot. That would come as something of a relief to shareholders in the company formerly known as Nexus which has been a serial disappointer.

My enquiries

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3057 days ago

Cupid shares tumbling - what is its cash position?

AIM Cesspit listed Cupid (CUP) shares are off again today at 52p. There are some folks who blather on about the yield of almost 6% and the strong cash balance. But what exactly is the cash balance? And is the dividend sustainable? Well let’s do some sums.


On March 25th the company stated that its cash position was £9 million. So far so good. However I note that tax payable at the yearend + trade payables minus trade receivables was c£4 million. So the real net cash position may well by March 25th have been as low as £5 million.  Foxy PR bird Bex who spins for Cupid points out that working capital could have moved either way between December 31 and March 25. So the real net cash position at March 25 could be higher. Or lower. We just do not know.


By the way, Happy Birthday Bex.



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3060 days ago

Exclusive: Sefton Resources multiple investigations by AIM regulation team now underway

I can reveal exclusively that at last things are starting to happen on the regulatory front when it comes to AIM Cesspit listed Sefton Resources (SER) – the AIM regulation unit is now conducting multiple investigations into the company.



Sefton has admitted misleading investors as to its oil production levels and trend just 24 hours before a rescue placing on March 6th 2013 – something that is a clear and mammoth breach of AIM rules. It is suing me for libel for accusing it of misleading investors on a number of occasions in recent years. Until now it appears that the authorities have not done anything but that seems to be changing.



I can reveal that last week

 

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3061 days ago

More bullabullabullshit at the Bullabulling AGM



At the Annual General Meeting of shareholders of AIM Cesspit and ASX listed Bullabulling Gold Limited (BGL) held today the chairman served up a statement that was classic Bullabullabullshit. Investors are waking up and the shares lost another 10% to close at 2.375p but that still values this company – which may well be toast by mid-August – at £9 million.

The chairman’s statement is worthy of a prize. “I see no icebergs said the captain of the Titanic, let’s alter course by 1 degrees and press on full steam ahead we have done so well so far.”

Amid the congratulatory blather

 

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3062 days ago

Kalimantan Quarterlies - when's the placing chaps?

Kalimantan Gold (KLG) is listed on the TSX as well as the Cesspit and its quarterlies out today tell a familiar story.  The only question is when is the next placing? I guess rather soon but then as a company that has passed the hat around numerous times in its long and undistinguished Cesspit career Kalimantan at least knows how to do the paperwork.

In the three months to March 31st 2013 the company booked a profit of $25,151 thanks to management fees for operating the KSK joint venture (mine exploration). In terms of cash it is a rather less happy picture.  Kalimantan’s partner funds most of its exploration work but not all and thus Kalimantan boldly states:

 

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3062 days ago

NetDimensions 5 year plan not convincing - sell

Following its recent $6 million placing at 38p AIM listed NetDimensions (NETD) has announced a detailed five year plan. The company is nothing if not ambitious and says that it aims to be a leading provider of talent and related compliance management solutions for highly regulated industries. The company now sits on $11 million of cash and so how does it plan to utilise it, given that it operates in a market worth $4.8 billion and which will grow at 21.3% this year. 

I follow this with interest as it was a share tip a few months ago on my Nifty Fifty site at a 43p offer price – you can find out more about the Nifty Fifty service here.



The shares are now 49-51p.

 

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3064 days ago

On the AIM Cesspit Kennedy Ventures & the Great Bison Energy joke - when's the cash call?

Once upon a time there was a company called Managed Support Services PLC which was listed on the AIM Cesspit. It went tits up. Well almost. Its operations were sold but the shell remained intact with a few liabilities and a tiny but of cash. It became Kennedy Ventures (KENV), an investing company, and it shows the idiocy and unsustainability of this whole AIM game.

Kennedy published its report for the six months to December 31st on March 27 2013. It showed cash of £134,000 and trade payables of £85,000. There were a few prepayments but essentially net cash was £49,000. With directors hauling out £4,000 a month in fees and other PLC costs to consider on top and only one investment (an illiquid unquoted one) you might think that there was a bit of a going concern issue.

Could the auditors state that this company had enough cash to keep going for 12 months? Fear not.

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3064 days ago

Avanti Communications something not quite right - sell

I first recommended shares in AIM Listed Avanti Communications (AVN) back at 116p years ago. I was still bullish all the way up to c800p when it launched its first HYLAS satellite since when the shares have headed only one way. They now trade at 279p .I apologise for not selling a long time ago on this share tip.


The bull case remains that if the company can fill capacity as planned on its two satellites in space and a third set to launch in a couple of years it will be chucking off cash like there is no tomorrow and as such one can attribute a valuation of £15 or whatever to the shares.


The bear case is

 

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3066 days ago

EMED: Investors are bored but should they be scared?

AIM listed wannabee copper mining stock EMED (EMED) issued a rather wordy statement on Wednesday which is on balance good news. The market has not read it that way and the shares now languish at 6.875p. It took me a good while to read through the verbage which was rather like wading through treacle. But it is not frustration with a press release that has caused the stock to fall so sharply since the statement.

The statement reads:

 

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3068 days ago

1Spatial shares to double after transformational deal

AIM listed 1Spatial (SPA) is turning into rather a good share tip in my Nifty Fifty Recovery portfolio. It joined in November at a 4p offer price. The shares are now 7.625p after an £18 million placing at 6p with a blue-chip raft of institutions and news of a very exciting acquisition. This is a game changer.

Let’s start with the placing. It was not done at a huge discount. Indeed the stock was at 6p when the roadshow started. And there are no spivvy discount brokerages on board. Merely spivvy blue chip institutions. So yes they will flip but not at 8p. At 12p they will get tempted.

1Spatial also announced that it has signed up as its new non exec deputy chairman David Richards the founder of AIM poster boy tech play WANDisco (WAND). That is a PR coup.

Now to the deal.

 

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3069 days ago

On the AIM Cesspit The looming collapse of Great Western Mining- It is all my fault apparently

Oh dear, the word on the street is that things are going badly wrong at Great Western Mining (GWMO) but apparently the company is saying that “it is all Tom Winnifrith’s fault.”  As I go to clear another space on the Mantelpiece for my next trophy let me explain.

On May 10th I pointed out that the balance sheet of Great Western was almost certainly a train wreck. That is to say cash minus trade payables was somewhere between just over nil and minus quite a bit. With no revenues at all it strikes that if it is not already trading while insolvent it soon will be. That as you are aware is a very naughty thing to do and if directors are aware that a company is trading while insolvent they have a legal duty to stop doing so and that means a statement that its shares are being suspended pending clarification. But heck this is the Cesspit so what do rules matter?

Now it is clear that Great Western (at 1.725p valued at £1.12 million) needs to raise material cash to keep going. But that is rather hard to do for three reasons:

 

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3071 days ago

Exclusive: Leni Gas Mediterranean: The smoking gun? Good News for Leni

The legal battle between Aim listed Mediterranean Oil & Gas (MOG)  and AIM listed Leni Gas & Oil (LGO)  is shaping up to be a barrel of laughs for neutral observers but, not – I suspect – for Mediterranean and its CEO Dr Bill Higgs. Sources close to Leni Gas have steered us towards what appears to be a bit of a smoking gun.

By way of background: Leni sold its 10% stake in a Maltese exploration block to Mediterranean for $1 on August 1st. 23 days later Mediterranean announced a farm in deal with mighty Genel which analysts reckon valued the Leni stake at $9 million. Leni is suing claiming that Dr Higgs misrepresented the position on August 1st. This is not a case about contract law – the claim made by Leni is of misrepresentation.

Firstly it is pointed out that Leni Gas never offered to sell its shares for $1.

 

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3071 days ago

Exclusive: Mediterranean Oil & Gas hits back at Leni Gas & oil

Aim listed Mediterranean Oil & Gas (MOG) has hit back hard at Leni Gas & Oil (LGO) following Friday’s preliminary court hearing in which Leni appeared to triumph.

Mediterranean has issued an RNS stressing that this hearing was only to allocate costs (which Leni did win on) and to set timetables. However sources close to Mediterranean have contacted ShareProphets and gone rather further.

It is Leni’s claim that it was misled by Mediterranean as to the nature of the latter’s discussions with Genel prior to selling 10% of a Maltese Exploration block for just $1 on August 1st 2012. 23 days later Mediterranean announced a tie up with Genel which would, according to analysts, have been worth $9 million to Leni had it not sold.

Leni’s claim is that it was misled by Mediterranean prior to the sale.

However,

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3073 days ago

Exclusive: Leni Gas & Oil set for $9 million windfall from Mediterranean Oil & Gas? Court Victory for Leni

A shock High Court Ruling made on Friday (but not announced) paves the way for a windfall gain of $9 million (or more) for AIM listed Leni Gas & Oil (LGO) at the expense of Cesspit listed Mediterranean Oil & Gas (MOG).

The background to the case is that on August 1st 2012 Leni sold its 10% stake in acreage known as Malta Area 4 Production Sharing Contract for $1 plus about $20,000 of historic expenses. Leni agreed to the sale on the basis that Mediterranean insisted that there was nothing going to happen to the block. On 23rd August Mediterranean sold 75% of the block to oil major Genel for

 an immediate cash payment of US$10 million

100% carry of the cost for the first exploration well Hagar Qim 1

100% carry of the cost for the second exploration well up to a maximum of US$30 million

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3073 days ago

Scoop: Vatakoula to announce 15p placing as Chinese prepare to take 29.9 per cent stake

ShareProphets can exclusively reveal that AIM listed gold miner Vatakoula (VGM) has negotiated a deal whereby a major Chinese mining group will invest £4.5 million at 15p per share – this compares to a Friday share price of 6.5p.

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3073 days ago

Forget cashflows & profits, Fracking is sex on a share certificate – the promotion of the IPO of Bison Energy Services

Fracking is sex on a share certificate. Mention the F word and you can set whatever daft price you want. That seems to be the theory behind Bison Energy Services, a company trying to raise funds for an AIM IPO right now. The promotion for this is a hoot.

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3073 days ago

Sirius Minerals - New Threat to Planning Permission

Whilst AIM Cesspit listed Sirius Minerals (SXX) is keen to issue an RNS every time there is good news on its planning application to build a vast mine on the North York Moors it seems rather less keen to broadcast the bad news. So I guess that is my job.

Last week I revealed how an independent study cast doubts on the economic need for the project – something you can read here.

Today I am grateful to a reader in the Grim North who alerts me to the headline in the Whitby Gazette which is now on my list of must read publications.

The headline screams “New mine would be a threat to tourism” and the article reads:

Tourism would be hit by a £41 million loss every year as visitors avoid congested roads and a spoil heap the size of Wembley Stadium, caused by a new potash mine, it is claimed

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3073 days ago

AIM Cesspit - Public Spanked Bottom for Arian Silver

Oh dear, oh dear, oh dear. That used to be the catchphrase of Mike Walters in his tipster heyday and boy does it apply to Arian Silver which has just received a very public bottom spanking for filing a non-compliant report from the Canadian regulator. Arian is listed in Canada as well as on the Cesspit AIM market.

Rather than be accused of making it up I just reprint the Arian statement in full:



Arian  Silver announces  its intention to  file  a  technical  report  including  a  summary  of operational details and economic factors.

The  British Columbia Securities Commission  has reviewed the Company’s independent technical report, compiled by CSA Global Limited and dated 23 April 2012, which was published for the  primary purpose  of  updating  investors with the results of the 10,000 metre phase 4 drilling programme  at  Arian’s  San  Jose property.

The Commission’s review of the 2012 Report identified areas of non-compliance with the Canadian standards of disclosure for mineral projects

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3077 days ago

Would you invest in a company that told lies?

I was going to dedicate this blog to a well-known City fella who does not honour his debts. He happens to be Welsh but apparently if I use the phrase’ welshing’ on your debts these days you get done for racial aggravation and fined £150 quid. Heck, in for a penny in for a pound but not here sadly. Your esteemed editor thinks I should expose this POS and his employer elsewhere and so I shall. But it begs the question would you invest in a company that you know has told a porky?

Now you might think that no listed company would do such a thing. It is after all against the rules laid out very firmly in the AIM rule book that company’s on the cesspit market must ensure that every RNS issued is true and verifiable. As such, if a company misleads investors or actually tells a lie it would be booted off or publically censured and thus this would be a terribly rare occurrence. Well think again!

I can remember just one company that I have “embraced with my tender love” which was publically censured by the authorities for telling porkies. As it happens, that company was privately censured as a result of my investigation in 2006 but it was only two years later when it sinned again that the FSA finally got around to giving it a public rebuke. That company was 3DM, now known as Environmental Recycling Technologies (ENRT). But its directors from 2006 are still in place. It still raises money to fund its dreams and so other than having its bottom spanked in public it has sailed on as before.

Now, I could list a number of companies which I have shown quite clearly to have misled investors via RNS announcements just in the past few weeks

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3078 days ago

Nominate now for the AIM Cesspit 2013 awards

It is time to highlight and celebrate the very worst of AIM with the inauguration of the AIM Cesspit awards sponsored by Shareprophets.com.

At an awards ceremony in late June, real trophies will be presented to those who have helped make AIM the Cesspit it is.

There are seven awards of which two are objective mathematical awards and the rest awards where the winners will be decided by the investing public. The Cesspit year runs from May 1st 2012 to May 1st 2013.

The awards are:



IPO of the year – an objective award for the IPO which moves most rapidly from IPO to suspended pending clarification.



The Darwin award – an objective award for the company that destroyed most market capitalisation in the 12 months prior to its shares being suspended pending clarification.



Entrepreneur of the year – investors vote on which AIM CEO has destroyed value most spectacularly in the past year.

PLC Pig of the year – investors can vote on which AIM CEO or Chairman was most grotesquely over-remunerated relative to performance 

Cesspit lie of the year – investors vote on which RNS issued during the year by an AIM listed company was most misleading.

Cesspit deal of the year – investors vote on which merger or acquisition of the past year did the most to destroy value

Cesspit entrepreneur of the year, the most coveted award, handed out to the man or woman whose over promotion of a stock, under-delivery and ability to destroy value has done most to contribute to making the Cesspit regarded as it is today.

The awards process starts today with nominations.

To make your nominations just

 

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3080 days ago

CPP: Free money as a short

Some clown bought a stack of shares in AIM cesspit listed CPP (CPP) on Friday sending the shares soaring. This offers a slam dunk free money opportunity as a bear to short the stock at 4.25p-5.25p. Your upside as a shorter at 4.25p is a gain of between 3.25p and 4.25p. There seems no downside risk.

The facts are that Hamish Macgregor Ogston the founder of CPP and 57% shareholder has until May 31st to decide whether to make a bid for shares he does not own. He says he will – if he bids – pay a maximum of 1p per share. He will only hand over that cash if he gets enough acceptances to take him to 75% at which point he will delist the company.



And so under the Hamish option you get either 1p in cash (maximum) or shares in an unlisted company run by Ogston which will – I suggest – be impossible to liquidate. The market price ahead of delisting will thus be c 0.8p-1.2p.



Option 2 is that Hamish walks away.

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3080 days ago

On the AIM Cesspit: The Real Price of Astar Minerals (again)

The dog that was Pan Pacific Aggregates continues to bark loudly in its new incarnation as Astar Minerals (ASTA). On Friday its shares were the second worst performers on the Cesspit, slumping 20% to 0.2p as 8,332,132 shares changed hands. Oooh er missus sounds like a big one. Er…no.

That represents trading volumes of just £16,664.26 assuming trades happened at the mid. I suspect that there were more sellers than buyers but I am being generous. And so on volumes which in value equate to the cost to the taxpayer of keeping Abu Qatada and his family in the UK for two weeks, the market cap slumped by 20%. In other words more than £100,000 was wiped off the market value.

Fear not…worse is to come

 

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3082 days ago

Quindell: More red flags than on a May Day in Moscow

Shares in AIM listed Quindell Portfolio have slumped to 7.12p following a disastrous results presentation. But that still values this strange stockmarket beastie at more than £400 million. Folks cannot say that they were not warned about this… On my new www.shareprophets.com website, myself, Lucian Miers and Evil Knievil (SBM editors ‘pal’!) all warned folks to get out well before the current debacle. Personally, I still see the shares as a strong sell – there are just too many red flags here.

Supporters will tell you that the stock now trades on a PE of 5 and that the recent slump from 13p is all down to wicked short sellers and scumbags like me spreading disinformation. Er…no. I list below the red flag issues which should tell you that this will end in tears for the bulls and obscenely excessive bacchanalian celebrations round at Real Man Pizza Company for the bears.

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3083 days ago

Two Letters to Sefton Boss Jim Ellerton re his company’s disgraceful Smear Campaign

I revealed some weeks ago how AIM Cesspit listed oil company Sefton Resources (SER) had instigated a smear campaign against its two principal critics, myself and Daniel Levi (aka Brokerman Dan). It is suing us for libel but has also engaged in underhand smear tactics. This has backfired as the Daily Telegraph has now confirmed to my comrade Mr Levi who, how and when Sefton played this sordid game.

As such I can reveal that Dan Levi will be filing a Solicitors letter with Sefton within days seeking a public retraction and potentially leading to a claim for vast damages for defamation. He has already agreed with Sefton’s uber-expensive City lawyer Pinsent Masons how this will be served.

Ooooh that Dan plays hardball. He is such a gritty Northern hard man.

I am, of course, a really nice guy and like to handle things on an amicable basis.

And as such I have simply dropped Sefton boss Jim Ellerton a friendly note

 

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3084 days ago

Evil Knievil: Quindell Portfolio is just not investment grade material

Bear raider Evil Knievil and I chatted tonight and he is in celebratory mood following the post results meltdown in the share price of AIM Cesspit listed Quindell Portfolio (QPP). The numbers raised red flags but it is the shocking revelations of how shareholders cash was used to punt on Quindell’s share price that has caused the stock to slump.

I revealed here a while back that Quindell was Evil’s biggest short.

 Bear raider Lucian Miers also wrote up his concerns about Quindell here on Shareprophets two weeks ago as you can read here.



Is it illegal for a company to use CFDs to bet on its share price going up? Evil tells me that it is not since a CFD is a derivative. However

 

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3084 days ago

Arian Silver Death Spiral Drawdown underway- attempted placing must have failed

We reported here a couple of weeks ago that AIM and TSX listed Arian Silver (AGQ) had tried to get a placing away in the UK and had failed and was thus resorting to tapping investors in the Dominions. The company huffed and puffed and issued an RNS which was very huffy puffy but did not exactly deny our story. Well it could not do so as we had it verified from an investor Arian’s broker tried to tap up …what we said was true.

Well it looks as if the Canadians have as much appetite for the stock as the Brits.  That is to say none whatsoever. For today Arian has fessed up that it has been forced to tap its YA Global Death Spiral equity draw-down facility

 

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3084 days ago

Bulletin Board Moron of the week: J Bravo Esq on the ADVFN Vialogy Thread

There is always intense competition for Bulletin Board Moron of the week but J Bravo Esq is this week’s winner with an absolute stonker on the subject of AIM Cesspit listed lifestyle Management Company, oops I meant to said oilfield services company, Vialogy (VIY).

Mr Bravo posts on ADVFN

 

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3084 days ago

AIM Cesspit: EastCoal Inc IPO to suspended pending clarification within 6 months: Is this a record?

On the AIM Cesspit new records appear to be smashed every day and the latest one might just have been set by EastCoal Inc  (ECX). It was already listed in Canada but on December 28th it raised a gross $9.5 million at 12.2p per share thanks to Cenkos and dual listed on AIM. On Tuesday May 7th its shares were suspended at 3.875 pending clarification of its financial position. This morning the finance director has quit.

I asked its PR firm (Tavistock) if this was a new record for IPO to suspended going possibly tits up

 

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3085 days ago

In the AIM Cesspit: Verdes Management – The Alfa Romeo questions

At the weekend I exposed how Verdes Management (VMP) a company listed on the AIM Cesspit market had misled investors in a series of RNS announcements as it struggled to say afloat in recent months. I detailed the pay accorded to the main man Adam Webb while the company played “jeux san revenues” with other folk’s cash, that is to say money raised from investors. But where did all the money go?

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3085 days ago

In the AIM Cesspit: Verdes Management - The Le Man Jolly

At the weekend I exposed how Verdes Management (VMP) a company listed on the AIM Cesspit market had misled investors in a series of RNS announcements as it struggled to say afloat in recent months.

I detailed the pay accorded to the main man Adam Webb while the company played “jeux san revenues” with other folk’s cash, that is to say money raised from investors. But where did all the money go?

 

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3086 days ago

AIM Cesspit: Verdes Management – Shareholders misled by directors (again)

AIM does not do irony but if it did Verdes Management (VMP) would win all the prizes. This is a typical tale from the Cesspit, directors and advisers keen on trousering the moolah, shareholders screwed and misled. If AIM was credible this company would be put out of its misery at once but the long running farce just keeps on going. No-one gives a damn about rules on the Cesspit.


Verdes, I am not making this up, describes itself thus:

“Verdes Management was established to support UK companies who have encountered difficulties during this economic climate. Drawing on our collective expertise in the City, the Verdes Team have unique resources that enable us to identify weaknesses in UK PLCs and offer independent advice and solutions.”


Fabaroonie. That sound great. Until you note that this company itself has been a total train wreck with its shares plunging from more than 3p three years ago to 0.09p on Friday. The company is – by my estimates more or less out of cash and has debt and is loss making. But at least there is the vast City experience of the board. Would that be the board that has failed to get a meaningful placing away? Has failed to compete on any advisory mandates? That said it had raised money last Autumn but er…did not? That misled investors in at least two RNS statements in the past six months? Yes that board. You could not make it up.


This reminds me of an entry in the “worst letter I wrote” contest.

 

Dear Jim

Can you fix it for me to appear on It’s a knockout?

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3090 days ago

Gulf Keystone: Your statement makes me even more worried

I am expecting that the next statement from Gulf Keystone will be “The company knows of no reason for the decline in its share price.” Well I can pre-empt that by stating that I can think of plenty and today’s cack-handed attempt to reassure investors is one of them. And so here goes with my six reasons why I am increasingly bearish about Gulf Keystone.

I am sure that bulls can answer some of them but not all I suspect. The Red Flags keep coming up on this one and I suspect they will keep appearing. I wrote last week Gulf Keystone and the Smell Test: Fail – I stand by my conclusions of then. But here goes with the questions.

 

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3090 days ago

A question for Sefton Resources

On 9th April AIM listed Sefton Resources (SER) issued an RNS in which it stated explicitly that March output data from its California field was 3,208 barrels (103 bopd) and that this data had been reported to DOGGR, The California State supervisor.

March output was thus lower than February (104 bopd) and January (111 bopd) and December (133 bopd). 

My question is this

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3091 days ago

Aim Cesspit - the end of Norseman Gold?

Norseman Gold (NGL) has been kicked off AIM.

The suspended shares are being de-listed at once. This was a bad tip from me and fits in with the general rule “never tip dual listed Aussie companies on the AIM Cesspit.” Good Australian companies can raise plenty of cash back in the land of high culture. Bad ones tap up folks on the Cesspit. I apologise for getting it wrong – its management including David Steinepreis have an awful lot more to apologise for. The game is not 100% over but I would suggest that if Dave tries to list anything in London ever again you pass on that offer.

The company is now again in control of its assets. But it was told by AIM that it needed to present a business plan and show that it had the working capital to execute it within six months of its suspension or get de-listed. The management asked for a one month extension but did not deliver and so the shares were booted off the Cesspit.

The shares remain listed on the ASX

 

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3091 days ago

AIM Cesspit - is Scotgold toast?

The history of Australian companies seeking a dual listing on AIM is not a happy one. With a vibrant mining sector in the land founded as a penal company, as a rule good companies have no need to travel to London to tap up British investors via the AIM cesspit. And so that brings us nicely to Scotgold (SGZ).

In the year to June 30th 2012 its five man board (with just 2 executive directors) cost shareholders (in remuneration only) A$640,000 – let’s call that £430,000. That was an increase on 2011. What an annual report does not disclose is the expense claims submitted by directors. But one always suspects that this will add a few bob to the outflow. This company has been kicking around as Scotgold since May 2008 and so lucky shareholders have – over that years funded the board to the tune of, shall we say £2 million.  Revenues to date? Natch. Nil.  This is a gold development company and as we know – and here I quote the Scotgold annual report: “The company’s aim is to remunerate at a level that will attract and retain high-calibre Directors and employees. Company officers and Directors are remunerated to a level consistent with size of the Company.”

Sure, so what value have these high calibre men (including a company secretary who has 2 other full time positions but still extracted A$166,000 in fees from Scotgold last year) delivered for shareholders? Aha. Oh Dear.

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3091 days ago

Australian dual listed stocks on AIM: Avoid the lot of them?

I seem to remember that there used to be an AIM Australia Day party.  The “cesspit” meets a bunch of folks from a country which started its colonial life as a penal colony. It sounds like a hoot. But I guess that I am not going to get invited if such an event still takes place. Or perhaps it never did and was just a figment of my imagination – a sort of party for white collar folk held in Jabba the Hut’s Bar. Did Princess Leia attend this party? Which PR firm does she work for as I’d like a briefing? And which dodgy mining stock is Jabba promoting today? We need to know.

I slightly digress, but I am a Star Wars groupie and Carrie Fisher is always welcome at Chez Winnifrith to pop on over and drone on yet again about her celeb parents and all that cocaine she took any time.  Now,where was I? Oh yes, in that water and snake filled garbage crusher on the Death Star when Luke, Han, Chewie and Leia almost get crushed before R2D2 and C3PO save them by hacking into the control system. I refer of course to AIM.

It seems that barely a day goes by without me feeling compelled to vent my anger about some outrage inflicted on investors on the cesspit. But, it strikes me that a disproportionate number of the stocks that I write about in this vein, are dual listed on the ASX and are primarily Australian companies

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3092 days ago

Cesspit AIM: Astar Minerals - what is the REAL share price

I described earlier in the week the disgraceful tale of Astar Minerals (ASTA), a sorry saga of investors getting screwed by advisers and directors banking fees. It is the sort of tale that is all too common in the cesspit that is the bottom end of AIM. You can check out the story here but at the time Astar shares traded at 0.35p valuing it at £1 million. Ho. Ho. Ho.



Astar is, of course, worth nothing like £1 million. It has £200,000 cash and every day that goes by the parasites that are its advisors nibble away at that figure. I reckon that the costs of staying on Aim for a year will be c£100,000 meaning that as an investment company it will have to beat Warren Buffett’s long term batting average by more than four times just to maintain its net assets position.

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3093 days ago

Vialogy "News" yadda yadda Yadda

I want to requisition an EGM for AIM listed management lifestyle, oops I meant oilfield services company Vialogy (VIY) to change its name to Yadda, yadda, yadda PLC to reflect more accurately what this is all about. Today we have more blockbusting non news from this firm, another “big name tie up” but naturally no financial information. Talking of which why was there no year end trading statement?

The news is that Vialogy has signed a co-operation agreement with another big name, with CGC a big French geoscience company which “provides ViaLogy with global sales and services locations, access to CGG customers, assistance in scaling ViaLogy's QuantumRD technology to large geographical areas, and specialized high tech data processing to prepare seismic datasets for QuantumRD.  Support in the form of CGG personnel, facilities, past project experience, and assistance with tender submissions are also part of the arrangement. In exchange, CGG will receive reimbursement for services, and will be able to monitor and exploit the QuantumRD technology for its own business and technical purposes, and collaborate on an exclusive basis with ViaLogy technologists.”

Yadda yadda yadda. Another big name tie up but how much cash will this actually generate? Er….

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3093 days ago

Astar Minerals - another total joke on AIM generating fees for advisors but nothing of value



I tipped Pan Pacific Aggregates once. It was a rotten tip. I thought the company had gone bust but like a vampire in a horror flick this corpse keeps coming back, sucking the life out of investor’s wallets. Its latest incarnation is exactly the sort of shocker one associates with the cesspit at the bottom of AIM.

Pan’s quarrying operations have proved worthless and are to be sold for a nominal sum (my guess $1). And the company, now called Astar Minerals (ASTA) has raised £336,000 at 0.15p. Of that money £20,000 goes to the broker (Peterhouse, a company I know well as it is 49% owned by my former employer), £75,000 goes to pay off defined liabilities associated with those duff quarrying operation and another £45,000 goes to settle other liabilities. What other liabilities? How much of that £45,000 is going on fees to City advisors? Please do tell.

That leaves £200,000 in the kitty.

 

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3097 days ago

Baobab - when is the placing suckers?

Calling AIM listed wannabee iron miner Baobab Resources (BAO) as a sell at 35.75p on February 4th and again on 29.125p on 21st February managed to generate stacks of abuse on the Bulletin Board but with the shares at 13.625p today I have been 110% vindicated. The point is that this company has sod all cash and high bills and that a placing is needed. Fast. The shares remain a sell until its now near critical financing issues are addressed. To both the Bulletin Board Morons and the fellows who run Baobab I ask how is the placing going?

Incidentally Lucian Miers is short of this stock and you can see him explain why in his UK Investor Presentation here.

 

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3098 days ago

Shocker: The Dirty Tricks Campaign of Sefton Resources exposed

AIM listed joke oil company Sefton Resources (SER) is suing myself and my fellow journalist Daniel Levi (aka Brokerman Dan) for libel. It will lose and it knows it. But I can now start to reveal the dirty tricks campaign organised by Sefton in a deliberate attempt to smear and discredit myself and Dan. This will shock you.

Sefton had no need to sue me for libel. It could have issued an RNS to refute my specific allegations. It opted not to because it knows that they are 100% true: This Company has on a serial basis mislead investors.  And so it is using vast amounts of shareholders cash pursuing a legal case. It knows it cannot win and that this will be buried in the Courts for ages – it is merely an attempt to silence myself and Dan and to imply that we are telling porkies, to discredit us.

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3098 days ago

Galantas Gold is Toast Investment Grade

AIM and TSX listed Galantas Gold (GAL) is, I am afraid to say, investment toast. At 1.375p it is capitalised at £3.54 million but calendar 2012 results out today make it clear as clear can be that a target price of 0.01p is generous.

The company is a small scale producer of gold (with a dash of lead and silver thrown in) in Northern Ireland. The reality is that this company would only ever work if it massively ramped up production and if gold prices were much higher.  All figures used in this piece are in Canadian dollars but the currency is kind of irrelevant – red ink looks the same whatever the denomination.

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3099 days ago

Gulf Keystone & the Smell Test: Fail

Gulf Keystone (GKP) is either the cheapest stock on AIM or is a horror waiting to blow. None of us knows which it is but on balance, after events yesterday, I would sell the shares. And for a variety of reasons.

The bull case is that the company sits on c14 billion barrels of oil. A market capitalisation of just £1 billion fails to discount that. Here endeth the bull case. If the company can start to produce that oil (and it targets output of 400,000 bopd by 2020) its shares are dirt cheap.

However, the bear case is extensive. My first contact with this company was when a then NED Lord Truscott oiled up to me to introduce himself. He was a Labour peer who took money from companies for getting legislation changed. Having a creep like him in charge of remuneration and corporate governance was like hiring Jimmy Savile as your babysitter.

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3100 days ago

Arian Silver Statement – What a load of cobblers

AIM and TSX listed Arian Silver (AGQ) notes that its shares have been falling like a stone and has issued a statement designed to reassure investors.

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3102 days ago

Lombard Risk Management - Burying Good News

It is funny how some companies bury good news. AIM listed tech stock Lombard Risk Management (LRM) issued an RNS on Friday headlined “notice of results.” I just assumed that it stated “Lombard will issue its results on such and such a date” and as such did not bother to read the actual release. Daft old me.


In fact the statement says more than that results for the year to March 31st will be released on May 14th. It adds:

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3102 days ago

Port Erin Biopharma - Jim Mellon delivers the goods, but...

I was one of the founding directors of AIM listed Port Erin Biopharma (PEBI) but it was always the baby of Jim Mellon and I was happy to step down last Spring. Jim is good at picking biotech stocks and so I tipped the shares at a 5.5p offer price before Christmas on the grounds that I reckoned that the NAV of this company was c9.5p at the time – that discount (well over 40%) was too great.

Mellon has delivered the goods.

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3103 days ago

New World Oil & Gas - Boardroom greed: shareholders screwed

Shares in AIM listed New World Oil & Gas (NEW) were trading at 9.625p a year ago. Today they are at 1.85p. Shareholders have every reason to be unhappy with the board. But it gets worse. Much worse.

I start with the cost of the three executive directors. The CEO gets paid (via a service contract with a third party firm) a salary of $390,000 a year plus a $60,000 pension contribution plus $60,000 contribution to healthcare insurance. The two other executive directors have to soldier by on

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3105 days ago

1Spatial – at near Year Highs – still a buy?

AIM listed Tech stock 1Spatial (SPA) is on a share price roll. Those who followed my advice to buy the stock at 2p on 12th September owe me a tub of salted caramel ice cream as the shares are now at 8.875p valuing the company at a shade under £30 million. So what next?

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3107 days ago

Quindell Portfolio - Contract win or not?

I know nothing about AIM listed Quindell portfolio (QPP) other than Lucian Miers regards it as an accident waiting to happen (as he explained here.) and that I share his unease at its aggressive manner of stock promotion. Today’s RNS only increases that unease. It is flagged up as “Major contract win with leading UK broker” but… -

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3110 days ago

Vialogy – Promoting again: where’s the beef?

Vialogy (VIY) the aim listed management lifestyle, ooops I meant to say oilfield services group is at it again with another promote the shares announcement. As ever it blathers on about doing work for a big name company (it is Chevron again) but what is this worth? Er……the silence is deafening.

The announcement is classic Vialogy waffle

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3112 days ago

Sefton fesses up: we did mislead investors ahead of placing

Sefton Resources (LSE:SER), the tin pot oil company that its suing me for libel because I pointed out how on a serial basis it has misled investors ( down 99.9% since IPO) over the years admitted after hours (5.44 PM) yesterday that it misled investors 24 hours ahead of a placing last month – as I flagged at the weekend. It now wants us to move on and yet again promises a brighter future.

I find it hard to see how this admission, dragged out of it by myself and Brokerman Dan will add to its credibility in the forthcoming trial and I cannot see how AIM can let this go unpunished. So what is the guilty confession from Sefton?

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3120 days ago

Sefton Statement is Laughable – the missing facts

AIM listed joke company of the year 2001-2013, Sefton Resources (LSE:SER) has this morning released an independent valuation of its Kansas reserves which can only be described as laughable. It is back to its old pal Dr Onat for this corker. It defies belief that anyone should fall for this baloney but here goes.

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3122 days ago

PR prude Kay Larsen does not want me writing this but shares in Advanced Computer Software are a strong buy

Kay Larsen is the PR bird at College Group PR who believes that she has a right to say how and where her client – AIM listed Advanced Computer Software Group (LSE:ASW) is covered. Furthermore she has accused me of hosting pornography on www.TomWinnifrith.com and claims ( falsely) that I accused a Welsh company of being sheep shaggers. Kay is a keen google user and does not like it that her clients (or presumably) her name now comes up next to images she finds innapropriate and now in the same google searches as pornography, sheep shagging etc. Kay does not want me writing about AIM listed Advanced Computer Software (LSE:ASW) at all as she would rather that only serious journalists who she approves of write about her clients in a way that she approves of. I describe the curious post lunch rantings of Kay and her vision of how she gets to dictate who writes about her clients and in what manner here.

But since Kay enjoys seeing on google what words come up when I mention College group PR, herself and Advanced Computer Software, I should make it clear that today I have not watched any live streaming teenage lesbian videos but that there is a lot of computer software that allows you to do that including many streaming feeds with college group scenes in them.

Happy Kay? I have tried to help google by getting all the key tag words from this piece in.

Now back to serious matters at hand. Advanced Computer Software is quite simply the best run tech stock on AIM.

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3123 days ago

CPP – Two weeks to near total wipeout: Death postponed

Once upon a time AIM listed CPP (LSE:CPP) was worth almost £500 million. And then the merde hit the fan. I advised shorting it at 26.75p last autumn and was again saying it was a sell at 4.625p a week ago. The shares are now 3.92p and this one will be resolved within two weeks and the BEST you can hope for is 1p. This remains a slam dunk short.

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3124 days ago

Interquest – Time to bank profits and sell

My July 2006 share tip on t1ps.com (the site I founded in 2000 and edited until last September) of shares in AIM listed specialist IT recruitment group, InterQuest (LSE:ITQ) is not one which has covered me in glory. Having tipped the shares at 67.5p, they traded above 80p until economic conditions darkened in the second quarter of 2008. A low of 30.5p was hit in February 2009 and the shares again traded at sub 35p in August of last year.

But to be fair to me I did suggest an aggressive average down at 45.5p

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3124 days ago

Does Gulfsands Petroleum plan a cash call?

On 15th February I suggested selling shares in AIM listed oil producer and explorer Gulfsands Petroleum (LSE:GPX) at111.5p. The shares are now 96p. One reason NOT to sell is that Gulfsands is debt free and has net cash but I wonder how much it actually has. A buzz of IR activity of late makes me wonder if there might be a placing ahead.

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3124 days ago

Enables IT (formerly Nexus) Upbeat AGM statement sets the platform

Enables IT (LSE:EIT) the AIM listed provider of network and IT solutions, has served up a pre-Easter AGM statement which is confident and appears to show that this could well be a great recovery play for 2013-15. Noting that there have also been some very hefty director share purchases of late, it is not surprising that the shares have moved ahead to 33.5p valuing the business at £5.31 million

Enables IT was a private business that engineered a reverse takeover of Nexus (LSE:NXS) last autumn as I described at the time, asking the valid question as to Enables would be any less of a dog than Nexus?
It is clear that Enables is different

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3126 days ago

Silverdell – pure gold or fool’s gold?

Shares in specialist AIM listed environmental support services company Silverdell (LSE:SID) have fallen back since reaching above 20p in late February to a current 16.875p. These were shares I first recommended as a share tip at 12.75p last year so I am ahead but is the share price slide telling us something?

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3127 days ago

Joke Company Vialogy – A few thoughts: shares to lose 90 Per Cent by August

I sense that shareholders in AIM listed management lifestyle, oops meant to say oilfield services company, Vialogy (LSE:VIY) are not exactly my biggest fans. I warned them to bale at 2.125p in the autumn on the basis that the company was ramping its shares with spurious announcements ahead of a rescue fund raise. I warned them to sell again at 1.625p in early February when, lo and behold, there was a rescue fund raise and I warn them at 1.3p to sell again now. 

That original article contains the full details of grotesque management pay packages over many years and of half a decade of abject non delivery. If you are squeamish do not read the article but by way of background to what has gone on here you should brace yourself and click HERE

And now for the observations:

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3127 days ago

Xcite Energy – broker Fox Davies suggests it is bid target

I am not sure that anyone can call the share price of Bulletin Board Darling AIM listed oil stock Xcite Energy (LSE:XEL) correctly. As such I make no comment on today’s results other than to republish a research note from top broker Fox Davies and it is I who underline two phrases which grabs my eye. Clearly high risk/high reward. Over to the broker...

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3127 days ago

Zoltav Resources RTO – Financial Manipulation & Joke valuation

Zoltav Resources (LSE:ZOL) the AIM listed shell last week announced a Reverse takeover in a deal to buy some Russian oil assets. The shares were suspended at 4.6p but the deal is being done at 3.5p and so here is how the maths of the shareholder structure stacks up after the deal:

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3128 days ago

The great Leavenworth trail – more questions (no allegations) for Sefton Resources

AIM listed oil stock Sefton Resources (LSE:SER) is suing me for libel - it wants to shut me up. As this process drags on I shall under disclosure rules be asking for an awful lot of documents and emails as, I imagine will Brokerman Dan who is also being sued by Sefton and its uber-expensive City lawyers Pinsent Masons. But to save Sefton some time later, there are some matters relating to its pipeline assets in Leavenworth County Kansas which its paid for cheerleaders at Hardman, Edison, etc. have flagged as having exciting upside about which I ask the questions now. It goes without saying that these assets are - despite what Hardman, Edison tell you - essentially worthless and here is why.

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3128 days ago

CPP – 4 working days to go to 0p?

I advised shorting AIM listed financial services group CPP (LSE:CPP) back in the autumn on November 21st at 26.75p on the grounds that the bid talks it claimed to be in were just not going to result in any bid happening. And so it came to pass and the shares duly halved. The problem is that CPP’s business model is not working. But it is now getting much worse. Much, much worse.

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3128 days ago

Shanta – time to call it quits?

Shares in AIM listed Tanzania gold miner Shanta Gold (LSE:SHG) have not covered me in glory. It has not been a disastrous share tip but it would be a lie to say that the stock has flown. I did have hopes of lift off as the shares reached 24p in January but today they sit at 18.375p, a stock becalmed in a sector unloved. Does that mean that it is time to call it quits?

Steve Moore and I first recommended these shares at 21.5p in July 2011 back in our days on t1ps.com and the journey since has been far from smooth. My first post tips analysis was still a bullish one and much of what I said then still stands today – you can see that analysis here.

Admittedly

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3129 days ago

Chaarat Gold – On balance positive update but read the small print

AIM listed wannabee gold miner Chaarat Gold (LSE:CGH) has issued an update on its operations in the Kyrgyz Republic which is – on balance – very encouraging but hidden at the bottom of the text are a couple of minor blemishes. On balance it supports the very strong buy case but it is worth reading the whole statement.

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3129 days ago

The old “We are vulnerable to a bid” line – ref Cupid

If I had £100 for every time that in my 25 year career that a CEO told me “our low share price makes us vulnerable to a bid” I would right now be sitting in a luxury mansion in the Bahamas.  Very few CEOs whose company’s shares are on the up say this. But guess what, in the insider dealing infested snake pit that is the City the companies that receive bid approaches are not those whose shares are tanking but those whose shares are going up. 

Those companies who peddle that “vulnerable to a bid” line usually do so in the hope that it will drive investors to buy not because they actually expect one. And so I refer to an article in the Scotsman out today (HERE) which blames me for the collapse in AIM listed Cupid’s share price on Friday

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3131 days ago

Cupid I was wrong: sell/go short

This article on Cupid was emailed out to users of onefreesharetip.com about an hour ago since when shares in Cupid have fallen by 11p to 101p. I do not normally reprint onefreesharetip.com articles. If you want them sign up to the service and be ahead of the curve. But in response to a few requests I reprint this one. This is a one-off. If you want ideas ( short and long) from a panel of 20 odd share tipsters, bloggers and analysts REGISTER HERE

The article reads:

My colleague Adnan Siddique wrote the other day here that online dating agency Cupid (LSE: CUP) was a binary bet. It was either going to double or crater. I agreed with that analysis and like him thought it was right to buy. We would both now stick with the binary bet call but would both advise selling and – in fact – would open a short position. The current short is, BTW, not 27% but perhaps 6% of the issued share capital. I think that number will get much larger pretty soon. This is not a stock to hold. I got it wrong but having read some fresh material last night am making a 100% volte face on this. What you have lost on the bull track you should aim to recoup on the bear tack by going short.

The bull case for Cupid (me getting it wrong) is presented HERE

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3132 days ago

Enables IT (formerly Nexus) what is going on?

Shares in AIM listed tech stock Enables IT (EIT) formerly Nexus have zoomed ahead over the past few days and now trade at 32p valuing the business at £4.75 million. Notwithstanding that bounce this is still one of my least successful tips from my years at t1ps. At least I take some consolation from my efforts to remove the old management team who were useless and bring in a new team that has reversed a decent business into Nexus. Had that not happened I fear that this one would have gone under.

But why have the shares raced ahead? Simple.

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3132 days ago

Aureus Mining – Not Out but Certainly down

Shares in AIM and Canada listed Aureus Mining (LSE:AUE) trade higher today at 40p post the company’s 2012 results release and an update on financing for the company’s New Liberty gold project in Liberia. However, the shares are still well below the 57.25p at which I called them a post t1ps sell in November.

I wrote about the company three times in November as it was flushed out on a cash call and my detailed analysis has proven pretty much bang on the money

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3132 days ago

Sefton Resources – Time for another director disclosure?

I had a day off yesterday from Sefton Resources (LSE:SER) the joke AIM listed oil production company that is suing me for libel. But this morning I am sent, by a pal on the West Coast, a little snippet which I thought might interest you.  It concerns Thomas (Tom) George Milne who was appointed a non exec director on August 9th. His CV at the time sounded jolly impressive and when I met the fellow on October 9th it was explained to me that he was there to give Sefton’s financial reporting function more rigour. Milne’s CV looks good but..

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3133 days ago

Ariana could be worth 6.31p says Edison - shares now 1.425p

I have always had a soft spot for AIM listed Turkish explorer Ariana Resources (LSE:AAU). Its management team do not take the piss on salaries and battle on showing grim determination to deliver and perhaps things are starting to go the way of Kerim Sener and his team. The newsflow of late has been positive. I reprint below a research report from Edison. Okay, this is commissioned research but it stacks up.

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3134 days ago

Kryso Resources – a tip of the year reviewed

AIM-listed Kryso Resources (LSE:KYS) is a tip of the year from myself at 32p. The shares currently trade slightly above this level at 32.75p despite continued unfavourable mining sector sentiment and an update last month that delays meant that its gold development project "is not now expected to be completed by March 2014 as previously scheduled". So do I stand by one of my tips of the year? 

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3134 days ago

EMED and the Great EU bank robbery

The prime focus of AIM and TSX Listed EMED Mining (LSE:EMED) is on restarting the huge Rio Tinto copper mine in Spain but it was set up in Cyprus (it initially targeted a small copper deposit there) and so lo and behold it still has some Cypriot bank exposure. And yesterday the company announced that as a result it will fall victim to the great EU bank robbery. The following explains... 

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3136 days ago

Sirius Minerals – Planning Issues

To howls of abuse I suggested that AIM listed Sirius Minerals (LSE:SXX) was a slam dunk sell at 27.75p on the day it submitted planning applications for its Potash mining project on the North York Moors. My reasons were multiple. Its ability to gain planning permission was a side issue although an RNS last week makes for interesting reading. The shares are now 24p.

It seems that the North York Moors Planning Authority has asked for extra information in order that it can determine the planning application. Sirius will provide this with a view to still getting a decision by May 21st. But there is another potential fly or two in the ointment:

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3136 days ago

Blinkx – Options Grant, Knickers, twist

I note an announcement the other day that AIM listed tech stock Blinkx (LSE:BLNX) had granted yet another 1.5 million share options to its senior execs. The subject of executive share options always seems to cause some folks to get their knickers in a twist. I am not so sure.

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3137 days ago

Norseman Gold – Another milestone reached: getting there

Another week and another milestone has been reached for Norseman Gold (LSE:NGL). We are not yet at the point where we can say that the shares will return to AIM but we are getting closer. Let me explain.

As you may well remember Norseman – one of my moist disastrous share tips in a 25 year career – announced last autumn that it was putting its operating subsidiary into the hands of the administrator. This was not the same as the parent company going into administration as I explained in detail to those who assumed this was a write-off HERE

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3137 days ago

Today’s Questions for Sefton Resources – the world of Leavenworth (less) county

As you are aware AIM listed joke oil company Sefton Resources (LSE:SER) is suing myself and my pal Dan Levi (Brokerman Dan) for libel. We cannot wait for our days in court as this is getting more amusing by the day.

A day or so I asked Sefton the simple question – how many flights to and from Hawaii (where Jim Ellerton lives in a luxury mansion) have been paid for by Sefton? The answer could be nil and if so I would have hoped for a speedy reply. I have had no such reply. Perhaps shareholders might have more luck putting that question to the company directly- I suggest calling its PR man Alex Walters on his mobile 07771 713608 - good luck.

But I now have a few more questions and this time I move from Hawaii where Jim spends his millions to Kansas and Leavenworth County where in 2009/10 Sefton ponied up a total of $215,000 to buy some gas pipelines.

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3143 days ago

Cupid: Great Results and Massive Director Buy yet shares tank – what’s up (or down?)

Shares in Cupid (LSE:CUP), the AIM-listed online dating business have tanked since some unhelpful media coverage in January. But calendar 2012 results last week should have silenced the critics. They did not. Neither did the CEO splashing out c£1 million to buy 865,000 shares at 114p. This is bizarre. What is going on?

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3145 days ago

Minera IRL - is it worth hanging on for the bounce?

Shares in AIM, Canada and Peru listed Minera IRL (LSE:MIRL) commenced 2013 at more than 50p but currently trade down at 43p – capitalising this Latin America focused gold miner at just below £75 million. This has not been one of my greatest tip from my t1ps.com days (I tipped it at 69p) so what to do now.

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3147 days ago

Sefton shareholders – diluted again: Three questions

Each time the amount gets smaller and each time less is raised. Less than three months since its last fund raise AIM listed Sefton Resources (LSE:SER) is passing the hat around yet again. This time it has raised £650,000 gross ( call it £620,000 net) with clients of Dowgate Stockbrokers. Lucky them. The amount raised will cover about three months cashburn. Put another way it is about 18 months total remuneration (including bonuses, pension contributions, etc) for chairman Jim Ellerton, a man who runs a company that has destroyed around 99.7% of the value of an investment made in Sefton at the time of its IPO 12 years ago.

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3148 days ago

Orosur Mining – a speculative buy?

Orosur Mining (LSE:OMI), the AIM and Canada listed, South America focused gold producer and explorer much beloved by my fat friend Evil Knievil, last month announced the completion of a development that “will enable the company to access higher grade transverse stope ore at Arenal Deeps for the first time in the last quarter of the financial year ending 31 May 2013”. That seems like good news yet the shares now trade at lows not seen since 2010 – a current 32.125p share price capitalising the company at little more than £25 million.

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3148 days ago

Sefton Resources Trading Update and a NEW accusation from me of Sefton deliberately misleading investors

This is all so bloody familiar but here we go again with another trading update from Sefton Resources (LSE:SER), the joke company that is suing me for libel. I will offer it an opportunity to broaden that case below since I have unearthed another howler of a statement this morning in which, I accuse Sefton and its plutocrat chairman Jim Ellerton once again of deliberately misleading investors. But first the trading statement.

Dr Ali says that his report on steamflooding in California is making good progress. Specifically that: “ work on the history match stage of the thermal stimulation report is now coming to an end. Dr Ali has advised that he is about to start the cyclical steam matches and various steamflood scenarios which he plans to work on simultaneously”. This would be the report that in the now infamous interims of September 2012 was promised for delivery by the year end. And that which on 6th April was promised for delivery by the end of May. That is April and May 2011.

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3149 days ago

Impellam 962.5 per cent ahead on my share tip ( plus dividends) – is it time to bank gains?

Impellam Group (LSE: IPEL), an AIM-listed staffing and outsourced support services provider in the UK and North America, with smaller operations in Australia, Ireland, New Zealand and mainland Europe is a big success from my time at t1ps – Steve Moore and I tipped it at 40p in September 2009. I published a note saying that the stock was still a buy at 315p in December of last year. After results for the company’s year ended 28th December 2012, released last week, the shares now trade at 425p. You see, Steve and I do get the odd tip right and we will be serving up another hot prospect on our new Nifty Fifty website later this week.

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3150 days ago

Goldman Sachs: Northern Petroleum Upgraded to Conviction Buy at 56p – target price 121p

I just happen to have this broker report in my inbox. I agree with its conclusion. And so here goes mightly Goldman Sachs on tiny AIM listed oil stock Northern Petroleum (LSE:NOP).

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3152 days ago

Leyshon Resources: New Meeting with MD Paul Atherley

I met up with Paul Atherley, the CEO of AIM listed Leyshon Resources (LSE: LRL) for a brief chat on Wednesday. It came on the heels of a trading statement the other day and a few points came out of that chat.

Leyshon is a rare beast on AIM in that it lays out its plans, stocks to them and delivers. Well it has done so to date. And it has been a cracking share tip for me on my Nifty Fifty website.

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3153 days ago

Reach4Entertainment Share Price to Double – First Columbus

Broker First Columbus has today initiated its coverage of theatre group Reach4Entertainment (LSE:R4E) with a buy stance at 4.9p and a target price of 10p. That may be on the cautious side. It is clear that Reach has stabilised and is out of the critical ward and on the recovery path something the broker note on this AIM listed company makes clear.

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3156 days ago

Sefton Resources See you in court: bring it on!

AIM listed Sefton Resources (LSE:SER) has today issued an RNS stating that it has initiated libel proceedings against me personally and also against BrokerMan Daniel. Bring it on. Game on. I am delighted by the news as I relish the opportunity of having my statements validated.

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3160 days ago

Bellzone ..Good News but the shares are down? A problem?

Two months ago shares in Bellzone Mining (BZM) were steaming ahead as all iron ore stocks made stellar on hopes on a surge in Chinese demand and a consequent increase in iron ore prices during 2013. Some of that euphoria has now evaporated and with Bellzone itself serving up mixed news the shares have slipped by 2p to 14p since the start of the year. This still values the company at £102 million but to lose 12.5% of your market value in less than seven weeks is a little un-nerving. So is it time to cut and run?

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3160 days ago

Baobab: Two Releases on Tete and the shares slide – So when’s the placing? Sell.

I managed to make even more friends in the Bulletin Board Moron community on 4th February when I explained why anyone with half a brain cell should short Baobab Resources (LSE:BAO) at 35.75p. Since then the company has issued 2 RNS releases about its flagship Tete study blathering on with all the usual guff and telephone numbers. Yet the shares are this morning at 29.125p. Oops looks like I was right and the Bulletin Board Morons wrong. Again. So what’s new pussycat? …. There is a placing on the way….You can smell it.

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3161 days ago

Norseman Gold – Well It is not Over yet

There were those who wrote AIM and ASX listed gold miner Norseman Gold (LSE:NGL) off as an investment. That may still prove to be accurate. This has been a sorry tale and one which has made many of us, myself included, look like total prats. But we are not at write-off as yet as a statement from the gold mining stock of 20th February made clear.

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3161 days ago

Printing.com - Profits warning

I last wrote on AIM-listed printing company Printing.com (LSE: PDC) following its interim results in November. The shares then traded at 32p, but are currently down at 28.25p following the company announcing today that softer than anticipated European trading and increased marketing expenditure on new initiatives mean “that it is now likely that the company will be materially behind market expectations in the current year”. Oh dear. The following is my updated view…

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3161 days ago

Guest Post: Sam Bottell on Plexus Holdings

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Plexus Holdings. Sam writes…

I see that Plexus (POS) was last night awarded the title “Best Oil & Gas stock” at the Stock Market Wire Awards awards ceremony in London. It is an absolute darling of the Bulletin Boards which is not surprising as it has delivered spectacular returns for shareholders. There is a good reason for that: its POS-GRIP wellhead technology is clearly world class and is much in demand, but the share price is now 240p valuing the business at £199 million. On the basis of what we know is the share price just a bit ahead of itself?

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3162 days ago

Guest Post Steve Moore: EMIS Group – Exacting Market Impeding Shares?

Steve Moore and I worked together at t1ps.com from the day he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty website but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you an article he has published on tech stock Emis Group, a company I know absolutely nothing about. Steve writes…

Shares in EMIS Group (EMIS), a leading UK supplier of clinical software and related services to GP practices and other healthcare practitioners and a major software supplier to high street pharmacies, commenced 2013 at more than 900p but fell more than 16.5% (to 750p) on 24th January as the company reported “lower than planned revenues from the Australian defence contract, training and integrated care services. Group adjusted operating profit is expected to be marginally below analysts’ expectations, largely as a result of the accelerated staff and recruitment costs associated with the EMIS Web roll out and the slight revenue shortfalls highlighted above”. The shares have further declined since to trade at a current 650p, capitalising this AIM-listed company at £380.5 million. The following analyses whether this current, lower level represents value…

‘EMIS Web’ is the company’s ‘next generation’ clinical software system which enables GPs and other healthcare practitioners to connect with each other and securely share access to patients’ electronic health record. An accelerated roll out of this is noted to be “proceeding to plan”, whilst RX Systems, the group’s community pharmacy division, is “delivering a strong performance”. The company added the sum result is that group revenues for 2012 are expected to be not less than £86 million, with year-end net cash of £7.7 million.

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3162 days ago

Guest Post Sam Bottell: Kryso Resources - Project Delay – Share price overreacts – a buying opportunity

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Kryso Resources. Having spoken to Kryso CEO Craig Brown yesterday I agree with Sam’s conclusion. Sam writes…

Shares in Kryso Resources (KYS) are off by 7% today after it announced that it would not complete the construction of its Pakrut gold mine in Tajikistan by March 2014 as previously scheduled and that a new completion date would be announced “in due course”. The company has spoken and the market has over-reacted.

The project has been delayed by a few months but work is now on track albeit a few months behind schedule. There is even the possibility of a catch up occurring if additional resources are brought in. The delay (which will be just a few months) does not create any cashflow issues for Kryso; and for a mine with a 14 year estimated life (and it could be longer) a delay of three or four months really does not make a jot of difference to any DCF valuation. The fact that Kryso operates in Tajikistan which some might consider a more exotic location might add to the way that investors have been un-nerved but I view this as a buying opportunity.

The maths are not complex

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3163 days ago

Shanta Gold – Shares down but look at shareholder list movements: value Unchanged

It makes no fundamental difference to the inherent value of a company who is, or is not, on the shareholder list. Companies huff and puff about “establishing a solid institutional following” but with few fund managers delivering exceptional returns , it should not normally concern you who is in or out. But just occasionally a buyer of note emerges. And followers of Shanta Gold (SHG) should note the latest addition to the Shanta list with some interest. It is good news.

Not that this is reflected in the share price. With gold having suffered a mini-sell off in recent weeks, few of the mid cap stocks have seen their shares move the right way. Shanta today trades at 20.75p to buy

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3166 days ago

Guest Post: Steve Moore on Wales based IQE

Steve Moore and I worked together at t1ps.com ever since he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty websital but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you a piece he has published on Wales based IQE – natch I agree with him Steve writes…

Shares in AIM-listed IQE plc (IQE), a manufacturer and supplier of bespoke semiconductor wafers to the major chip manufacturing companies, which then use them to make the chips which form the key components of high technology systems, were recommended on the Nifty Fifty website in December at a 28.5p offer price and I also wrote them up last month on the One Free ShareTip offering with the shares then at 34.25p. Now at 35.75p – 36p, meaning a market cap of more than £230 million, the following reviews the investment case here…

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3166 days ago

Gulfsands Petroleum – Even Commissioned researcher Edison sees limited upside: Sell

A report lands on my desk today from Edison Research on AIM Listed Gulfsands Petroleum (GPX) entitled “The road out of Damascus.” This report was commissioned by Gulfsands ( i.e. paid for) and so one would not expect a bearish conclusion. ‘tis always the way with research reports from commissioned firms ( like Edison or Hardman) or from a house broker – they want to say buy but sometimes just cannot do so. And so you get what is known as a “corporate hold” . i.e. sell. There is no recommendation on the report but with the shares at 111.75p it sets a risked valuation of the stock at 119p. I cannot see why anyone would buy a share for just 6% upside. Any sane investor would sell and switch into a stock with more upside.

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3167 days ago

EMED: On the Cusp of Delivery

While many base metals stocks have pushed ahead sharply during the past few weeks on the back of hopes of a rebound in Chinese demand, AIM and TSX listed EMED (EMED) has made steady gains on the basis that its agonisingly protracted attempts to restart production and it Spanish Rio Tinto copper mine will finally get the requisite regulatory clearance. The most recent quarterly statement (on January 16th) indicated that all was on track and that has seen the shares move ahead to 12.75p, valuing the company at £164 million. However, I still expect the shares to treble from here on a two year view.

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3168 days ago

Sirius Minerals: Delays and Departures: sell ahead of cash call

A raft of announcements have been made by Sirius Minerals (SXX) today but amid the verbage the clear drift is not positive. The shares are off – at 25.25p – but the company is still valued at £339 million. That simply cannot be justified.I did suggest that holders at least top slice on January 31st at 27.75p as bulletin board frothed with excitement on news that the company had submitted a planning application for its Potash mine on the North York Moors.

Following today’s news my stance is downgraded to a plain sell

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3168 days ago

Densitron Profits warning – Not good

Densitron Technologies (DSN), the AIM-listed electronic displays company has served up a rather nasty profits warning, leaving the shares trading at 7.625p valuing the company at just £5.3 million. I recommended this stock on t1ps.com, the site I founded and edited for 12 years until this September delivering an average gain of 42.7% over 241 share tips before leaving to set up The Nifty Fifty. The t1ps share tip was at 11.75p in December 2010 since when 6p has been paid out in dividends (including one special 5p payment) so as disasters go this was no total disaster. But the speed of the backtrack at Densitron is not pleasing.

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3169 days ago

Vialogy – will Chevron really be the pay daddy?

Supporters of AIM listed director lifestyle (oops sorry I meant oil exploration services) company Vialogy (LSE:VIY) always pin big hopes on the idea that Chevron will announce mega contracts. The penny share dreadful, Vialogy has never actually announced what its two contracts with Chevron were worth but we know that the first was c£40,000 ( or less than Chevron spends each year on toilet rolls for all of its offices). I have no idea how much Chevron will commit to Vialogy’s product but I bet that it will not be much.

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3169 days ago

ILX - Acquisition

In December I upgraded my stance on AIM-listed provider of e-learning software and business training ILX Group (LSE: ILX) to ‘speculative buy’ on the back of the moves being made by new executive chairman/interim CEO Wayne Bos. These continued yesterday with the announcement of a partnership with, and option to acquire, CareShield Ltd, described as “the UK’s leading provider of online learning specific to the health and social care sector”. The following updates my view on that share tip here…

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3169 days ago

Guest Post: Sam Bottell on Madagascar Oil

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Madagascar Oil.

AIM listed Madagascar Oil (MOIL) had well publicised funding issues in the second half of last year caused by $17 million cost over-runs on the development of its Tsimiroro heavy oil field in Madagascar. However, boardroom changes have been made and today it has announced the completion of a placing and open offer (62.6% taken up) at 18p raising £49.5 million, which allows it to put its problems behind it and allows investors to look at what its assets are actually worth. Is a £100 million market capitalisation at 19p harsh? I think that it is.

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3170 days ago

Blinkx Cracking Trading Statement - is it time to bank gains?

When a company issues an RNS headlined “Trading Statement” there is always a heart in moth moment as you open it up – is this a profits warning? No such concerns today with Blinkx (BLNX) which has announced that after an exceptional first half, trading in the third quarter remains strong and hence it will beat full year forecasts. The shares have raced ahead by 26% to 86.25p but are they now more than up with events? Is it time to bank gains?

The statement is brief but reads:

“In November 2012, blinkx announced that it had an exceptional first half, driven by the early integration of recent acquisitions and the effects of the US elections and London Olympics. Today, blinkx is pleased to report that trading in the third quarter continued to be strong. Therefore, the company expects to be ahead of targets, with revenue for the full year in the range of $180M to $185M.

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3170 days ago

Cupid – Share Price Comment: Riposte to Aubrey Brocklebank

Shares in Cupid (LSE:CUP) have plunged in recent days. Belatedly the company issued a statement at noon on Friday which should have stopped the sell-off. It did not. Hmmm. The shares now trade at 135.25p valuing the business at £113 million.

The statement reads:

“Cupid plc notes the movement in its share price; the Company knows of no material reason for the movement. The Group confirms it is trading in line with expectations and that at the year end had approximately £14m cash on its balance sheet. As previously announced, the Group will be issuing its full year 2012 results on 5 March 2013.

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3173 days ago

Vialogy – Placing at 1.25p – why cannot these shysters just tell the frigging truth?

AIM listed director lifestyle (sorry oil services) company Vialogy (LSE:VIY) has – as predicted many times by me ended its Autumn ramp campaign of spurious announcements with a placing. The whole thing stinks and it merely delays the ultimate demise of this POS. The company has raised £1.4 million at 1.25p with punters each getting one warrant at 1.25p for every three shares subscribed for. Now here is why it stinks and why you should sell first thing on Monday morning.

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3173 days ago

WANdisco Product Launch – Use Euphoria to Top Slice

Shares in AIM listed big data provider WANdisco (WAND) have raced ahead by 62.5p today on the back of a new product launch. For those who followed my advice to have a nibble at 493p on the bacvk of the hot January 6th share tip the reward is pretty clear. That WANdisco is making progress is without doubt but are we all getting a bit ahead of ourselves?

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3174 days ago

GMA Resources – Reversal and Share Price Over-reaction: Lucian Miers right to be short

AIM listed GMA Resources (GMA) has just returned from an eight month suspension. A cash shell (with not a lot of cash) following the failure of its last hydrocarbon business venture it has now announced a RTO which will see it owning 90% of two mining assets in Kazakhstan. The shares returned from suspension on February 5th and promptly soared to 0.9p which in effect valued the business at £700 million. That forced the company to issue a statement re-explaining its share structure – in effect saying its stock was overvalued. The shares still trade at 0.24p but are still at least 60% overvalued.

The company plans a 500 for 1 share consolidation. Thus existing shareholders will post consolidation own 1.236 million shares. The vendors of the Kazakh assets will be issued with 148 million shares which on the basis of the agreed RTO values the transaction at £40 million. But on the basis of the current share price the market capitalisation post issue is actually £184 million.

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3174 days ago

Guest Post Sam Bottell: Afferro Mining – One bidder out, no reason to sell

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a tip from TradingResearch Point on Afferro.

Shares in AIM and TSX listed African mine developer Afferro Mining (AFF) fell by 5p at 74.5p today on news that one potential bidder for the company is now out of the running. The market never likes such news but it overlooks the fact that there are still a number of corporate discussions still ongoing but, perhaps more importantly, that the shares are fundamentally cheap. I view this as a buying opportunity

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3175 days ago

Guest Post: Steve Moore on Craneware Group

Steve Moore and I worked together at t1ps.com ever since he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty product but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you his debut article elsewhere: Steve on AIM Listed tech play Craneware. I have to admit that I had never heard of this company until today but Steve is a smart guy and I trust his judgement.

Following from my piece on AIM-listed GB Group (GBG) yesterday, I today comment on a fellow AIM-listed tech stock which also updated on trading towards the end of last month; Craneware plc (CRW). Despite its name and its being incorporated and headquartered in Scotland (Edinburgh), the company is actually a software provider focused on the US healthcare market. With offices in Atlanta, Arizona, Massachusetts and Tennessee, its software helps hospitals and other healthcare providers more effectively price, charge, code and retain revenue for patient care services and supplies – increasing their efficiency and minimising compliance risk. The following reviews the company’s recent trading update and investment outlook…

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3176 days ago

Guest Post: Steve Moore - GB Group – a Great Buy or not?

Steve Moore and I worked together at t1ps.com ever since he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty product but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you his debut article elsewhere: Steve on AIM Listed tech play GB Group.

Shares in AIM-listed GB Group (GBG) have been strong performers over recent years – commencing 2010 trading at 21p, they currently trade at 94.25p – capitalising the company at more than £100 million. Following a trading update last week, does value remain here?

The company’s 30th January update noted that it “anticipates that the results for the year ending 31 March 2013 will be in line with current market expectations”, with both its DataAuthentication and DataSolutions businesses “trading well” and “ahead of last year”.

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3176 days ago

Zoltav Resources - The End is nigh ( and watch out Paternoster, Aurum & Evergreen)

For the most hideously overvalued company on AIM, Zoltav Resources (LSE:ZOL) the end is nigh. Today saw news that it has drawn down the second and final £250,000 tranche of a £500,000 loan facility made available by its largest shareholder. That suggests that net cash was down to pretty much sod all. And that makes for grim reading. Yet at 5.85p the company is valued at a quite unbelievable £22 million. This is a joke valuation.

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3177 days ago

Baobab Resources – Good News in the Price, follow Lucian Miers and sell

After many years of scratching around Southern Africa for a project with real prospects AIM listed Boabab (BAO) appears to have found something that could be a winner in the form of the Tete pig iron/vanadium/titanium target in Mozambique. With iron ore stocks all rallying sharply in the past two or three months on the back of hopes of resurgence in Chinese demand, Baobab shares have raced ahead to 35.75p which values this company at £106 million. This is a stock that has now got far ahead of its fundamental value and I can reveal that last week well known bear raider Lucian Miers opened up a short. That is a good call which you should follow.

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3178 days ago

Exclusive & Explosive Video Interview with Andrew Bell of Red Rock Resources

Andrew Bell and his Red Rock Resources (LSE:RRR) mining investment company have admirers and detractors. We all do. I met up with him last week to discuss various points about Red Rock. I covered both operational matters and also allegations put to me in email and on posted on Bulletin Boards. To date the company has not responded with its side of the story but Bell has gone on the record in this webcast to deal with the allegations made and the motivation of some of his critics. This is pretty explosive stuff.

As to Red Rock’s shares and are they cheap? It strikes me that Jupiter Mines in Oz is a pretty cheap stock and plausibly Red Rick could soon trade at a discount to the value of its Jupiter shares. If Greenland is sold and Colombia is – as Bell indicates in the interview – cash generative then Red Rock would have trading appeal. I realise there are three IFs in there but I think you can see how a bull case could be made.

On the Agenda

1. Jupiter
2. Colombia
3. Greenland
4. Kenya
5. Allegations made against Red Rock & Bell by Mr Gary Carp and associates.

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3180 days ago

Randall & Quilter Trading Statement - Buy for Income

I recommended shares in AIM-listed specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (RQIH) at 127.5p in July 2011 on t1ps, the website I founded and edited for more than 12 years, delivering an average gain per tip of 42.7%, before departing last September to set up the Nifty Fifty offering. These shares have yet to really perform – but having commenced 2013 at 106p, they currently trade at 119.5p following a trading update today. The following reviews this and offers my updated view…

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3181 days ago

Sirius Minerals Planning Application positive but still one to top slice

AIM-listed Sirius Minerals (SXX) has announced it has delivered application documents for the onshore mining and mine access infrastructure for its York potash project to the North York Moors National Park Authority. This news on what is a potentially significant development in the UK has helped shares in Sirius – which commenced 2010 at sub 5p and 2011 at sub 14p – slightly higher to a current 27.75p, capitalising the company at £373 million. The following reviews today’s announcement from the company and the investment proposition here

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3181 days ago

Fox Davies: Buy Highland Gold at 112p with a 181p target

Fox Davies has published a broker research report this morning on yesterday’s H2 production numbers from AIM listed Russian gold miner Highland Gold (LSE:HGM), a stock I also favour. The note is upbeat and reads:

“Highland Gold has released its production figures for the 2H of 2012. Production for the half was 106,185oz of gold equivalent, taking production for the full year to 216,885oz of gold equivalent.

This was a good performance from Highland, beating guidance

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3182 days ago

Highland Gold Full Year Trading Statement: Buy at 114.5p target 200p

AIM-listed, Russia producing gold miner Highland Gold (HGM) has published a calendar 2012 trading update which reads very well. There was an 18% increase in group wide production to a record 216,885 ounces of gold and gold equivalents, exceeding guidance estimates of 200,000-215,000 ounces. The shares have ticked up to 114.5p on the news capitalising the company at £372.5 million. I wrote a buy share tip, at 91p, shortly before Christmas so I am already partially vindicated. But this re-rating has a lot further to go.

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3183 days ago

Range Resources – Flagging a Tweet from David Lenigas

I flag this with no idea what is behind this but David Lenigas runs Leni Gas & Oil (LSE:LGO) which like Range Resources (LSE:RRL) has extensive interests in Trinidad. Both were mant to present at some shindig but Mr Lenigas tweeted a few hours ago:

David Lenigas ‏@DavidLenigas

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3183 days ago

Guest Post Sam Bottell: Borders & Southern – Operations Update – Positive on the surface, but drill down to a sell

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Borders & Southern. I happen to agree with his conclusion.

The Falklands oil exploration stocks remain the darlings of the Bulletin Board but the bare fact is that while Rockhopper (RKH) has served up some good news the “field” has disappointed. Yet hope springs eternal and thus a presentation on 28th January from Borders & Southern (BOR) has sparked its shares into life once again sending the shares to 27.75p valuing the company at £133 million.

Borders has in the past enjoyed some success. In April 2011 it announced the Darwin find where initial tests suggested a gas condensate reserve of 130 to 250 million barrels of liquid. Recently the company re-asserted that a mid case recoverable reserve could be 210 million barrels. Note the words could be.

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3183 days ago

Plastics Capital Trading Statement: Buy

I commented positively on shares in AIM-listed niche plastics products manufacturer, Plastics Capital (PLA) in September at 66p and November at 72p. This was a big winner from my days at t1ps.com. Following a trading update today which reported that the company “continues to trade broadly in line with market expectations” and that “performance should be broadly in line with expectations over the final quarter and looking into the next financial year anticipate a year of significant progress”, the shares now trade at 79.5p. The following reviews today’s announcement and offers my remoulded take on the shares (that is a bad pun BTW)

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3184 days ago

Reach4entertainment – cracking trading statement

AIM listed London and New York based theatre marketing group reach4entertainment (LSE:r4e) has today announced that a strong second half performance has seen a return to overall profit for the 2012 calendar year and that it is confident it “will continue to make progress throughout the course of the current financial year”. With the shares currently approaching 14% higher, at a 6.25p share price, on the back of the announcement the following reviews my stance here having previously suggested (at 4.75p) that there was a growing case for a small average-down speculative punt and most recently that I continued to believe it not too late to average down at 6.625p…

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3184 days ago

Falklands Oil & Gas – sell into latest hype

Shares in all of the Falklands oil plays are ahead today thanks to a presentation by Border’s & Southern (BOR) which seems to have excited a few folk although to me it seems to contain a lot of ifs and jam tomorrow. I remain bearish on that stock but even more so on Falklands Oil & Gas (FOGL) , shares in which are 3% ahead on the Borders hype at 32.5p. I have been a long time bear of this company and would regard this temporary spike as an ideal cue for shareholders to get out for reasons that I explain below.

Falklands remains a Bulletin Board darling ( itself a bad sign)

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3184 days ago

Ruspetro: Refinancing helps but debt and delivery (or lack of it) the issue

Russian Oil Producer Ruspetro (RPO) has announced a partial debt for equity swap and refinancing of its remaining debts. This is good news. However before those who ignored my advice to sell at 83.5p on 4th January after an almost comical well after hours profits warning start to celebrate this company still faces serious issues. The shares have bounced back to 49.5p but while they are no longer a short I would still regard them as one to avoid.

The profits warning was release, as you may remember at 6.30 PM on the Friday of New Year week when nobody was meant to be noticing. Coming less than six weeks after an upbeat trading statement it left the management team with zero credibility and it will take an awfully long time for that to change. I flagged at the time that the company had serious balance sheet and ( lack of ) free cashflow issues and the latest announcement partially solves that.

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3185 days ago

February SpreadBet Magazine now out with me on Port Erin Biopharma

The February issue of SpreadBet Magazine ( a free e-publication) is now out and contains – amongst other things – an article by myself on Jim Mellon’s AIM listed Port Erin Biopharma Investments (PEBI). You can download it for free by clicking on the image below.

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3187 days ago

Globo Trading Statement – Speculative Buy

AIM-listed provider of mobile, Software-as-a-Service and telecom software products and services Globo Plc (GBO) has today announced that it “has achieved a financial performance for 2012 ahead of market expectations” and that, having completed a “transformation into a truly international technology vendor in the hottest place in the technology market today”, it aims to continue doing so. With, on the back of the trading update, the shares currently more than 6% higher at 29.5p, capitalising the company at £100 million is it too late to get on board?

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3187 days ago

Geong – Another Crap Chinese Company on AIM provides pure comedy

AIM listed Chinese joke company Geong (LSE:GNG) is always a bundle of laughs. This is a company that works on projects for 18 months, does not invoice yet books the amounts as income. I have pointed out before that its balance sheet backing is illusory, that its “profits” ho ho ho never translate into cash and that it would probably be out of cash within a year. That was in September. But today the company has served up a stormer of a statement and I have just got even more bearish. This is a classic China bubble story.

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3187 days ago

Zoltav Resources – I am accused by a total moron of being an imbecile or misleading

In the mad world of twitter I receive a tweet from @danpeterpanfan (who is apparently known as the village idiot of share tweeting circles”) stating “You are an imbecile!” All publicity is good publicity I guess, so naturally I retweeted this shining literary gem to all of my followers. It seems that what has aroused the anger of this total moron were statements I made a couple of months ago surrounding AIM listed Zoltav Resources (ZOL) being the “most overvalued company on AIM” or having a “joke valuation.”

The shares were then anywhere between 3p and 3.98p. They are now 4.9p. So according to the Village Idiot, I am now either an imbecile or my articles were misleading as “the value of this company has gone up sharply”. Er… no.

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3188 days ago

Amara: Weak numbers but a good investment. But not good enough

Dual AIM and TSX (Canada) listed West African focused gold mining company, Amara Mining (AMA) has announced 2012 production results for its Kalsaka mine in Burkina Faso ahead of a full-year results announcement scheduled for 27th March. I commented positively on the company in November and the following updates my view after this latest news from the company…

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3191 days ago

Blinkx: DailyMotion deal - Buy with new 100p target

Another day and another upbeat announcement from AIM-listed blinkx plc (BLNX), which describes itself as “the world’s largest and most advanced video search engine.” Today’s news is of a partnership with Dailymotion. In itself that has not prompted analysts ( or me) to increase forecasts but it has given a greater degree of certainty on numbers currently in the market. And I sense that by the time of the prelims on May 13th we will see upgrades. The bull case is very much intact.

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3191 days ago

K3 Business Technology – Profits Warning: Reaction Overcooked?

Ahead of interim results expected in mid March, AIM listed K3 Business Technology (LSE:KBT) has, disappointingly, announced that “due to the deferral in signing certain significant retail deals, coupled with investment in the group’s Microsoft AX offering, K3 will generate pre-tax profits below current market forecasts”. This has seen the share price fall back to 112.5p. Is the reaction overcooked. I write as someone who recommended the shares at 148p before Christmas. Clearly my timing was not great.

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3191 days ago

Guest Post Sam Bottell: Buy Xcite Energy at 102p – Target 181p

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Bulletin Board darling Xcite Energy.

AIM oil explorer Xcite Energy (XEL) is a darling of the Bulletin Boards which is normally a good reason not to buy the shares. Indeed the shares have fallen from 395p in January 2011 to 103.25p today (they were 67.5p five months ago) and whilst this is not for the feint hearted, there is a string fundamental case for this £299 million capitalised company. I believe that the shares are worth 181p and are a buy.

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3194 days ago

Sefton Resources: The Liars Send Lawyers Letters

This morning AIM listed penny dreadful oil producer Sefton Resources (LSE:SER) has via its lawyer Pinsent Masons sent lawyers letters to myself and BrokerMan Daniel. Such is the competence of this company that it sent the hard copy to an address that I have not lived in for three years. Luckily it got the email address right.

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3194 days ago

ASOS Trading Statement: Evil Knievil and the Bears will carry on getting burned

AIM-listed international online fashion retailer ASOS (ASC) has published a positive update on December trading – sending the share price up to £26.60, which capitalises it at more than £2.19 billion. The following reviews the trading announcement and current investment proposition from this company that great bear Evil Knievil has consistently shorted and consistently got wrong…

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3194 days ago

WANdisco Trading Statement: Good News continues but 2014 PE now 120

On 15th January AIM listed super IPO of 2012 WANdisco (LSE:WAND) served up what was a very upbeat and impressive trading statement prompting modest upgrades from its paid for research lackeys at Edison and GE&CR and sending the shares soaring ahead to a 577.5p share price. The 2014 PE ratio is now in the region of 120. On 6th January I explained why this stock was actually, a plausibly, cheap share tip at 493p although it could hardly be described as a traditional Warren Buffett style value investment.

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3196 days ago

Symphony Environmental Profits Warning – Ouch but discounted?

AIM-listed advanced plastics technologies company Symphony Environmental (LSE:SYM) has today announced that “revenues for the month of December were significantly less than anticipated on 5 December and as such the trading loss for the year will be materially higher than £1.1 million (previously expected)”. Unusually, the shares are currently trading slightly higher, at 3.5p, on the back of today’s announcement – though this represents a sharp decline from the 20.875p share price hit in April 2011. The following reviews today’s statement…

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3197 days ago

Shanta Gold – Getting There: Buy at 23p

It was not a good Autumn for AIM listed Shanta Gold (SHG) but the last two RNS statements from the company demonstrate that it is both soundly financed and that, at last, it is delivering operationally. The shares have always had clear latent value it is just that investors have had a number of (utterly valid) reasons for not believing. But the times they are a changing.

Four days ago came news that Shanta had tidied up its financing issues with the signing and drawdown of a $30 million loan from FBN Bank which pays interest at LIBOR plus 8% with a 2% arrangement fee. That allows Shanta to clear existing debts of $15.3 million plus cover all costs as its flagship New Luika mine ramps up production. The loan is repayable over two years with a 6 month repayment holiday and monthly instalments thereafter.

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3198 days ago

Three reasons to buy shares in Cupid Today

I have tipped shares online dating websites group Cupid (LSE:CUP) a couple of times in recent months at prices ranging from 166p to 186p – the share price is now 196.75p but there is a good reason to buy the AIM listed shares even today. In fact there are three good reasons to buy right now both deriving from the share buyback underway. Timing matters and I sense that there is some urgency here and this is why.

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3201 days ago

Goldplat – Market Over-reacts to mild profits warning – buy for bumper (safe) yield

Shares in AIM Listed gold miner Goldplat (LSE:GDP) have been hit hard by a profits warning. It is a minor profits warning and the market has over-reacted sending the shares down by 9.71% to 11.625p. At this price I believe you would be buying for a June 2013 yield of 6.9% rising to 8.6% for the year that starts in less than six months time. The market has over-reacted given how profitable Goldplat is and how much cash it has. This is a buying opportunity. The trading statement was clearly not helpful but looks at the bigger picture.

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3201 days ago

Lombard Risk – Good News is Bloody Annoying for Investors but share price still offers c60% upside

Software group Lombard Risk Management (LSE:LRM) announced on January 10th that it had won a new contract to supply its REPORTER product to “one of the UK’s leading building societies” as a “consolidated regulatory and MIS reporting system”. Clearly winning a new contract with a firm which must have some size is good news rather than bad news. But….after all the blather about how the client looked long and hard and referenced REPORTER with other users, blah, blah, blah Lombard does not actually name the customer or the value of the contract.

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3203 days ago

Guest Post: Sam Bottell on Petroceltic - a buy?

I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…

In 2012 the focus of Ireland based AIM listed oil explorer and producer Petroceltic (PCI) was corporate – the merger with Melrose Resources. In 2013 the focus is on growing the business by exploration. Exploration is inherently risky but there are enough, fully funded, diverse projects to offer material upside for the shares which trade today at 7.55p, valuing the business at £177 million. 2013 will be interesting.

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3204 days ago

Guest Post: Aubrey Brocklebank: Dignity It's your funeral

God I am getting old. I knew Aubrey Brocklebank’s dad about twenty years ago. And now I find myself talking to the son. It is ather like hearing the name Potts at West Ham. I think gosh Stevie must be getting on a bit and then realise it is his son Danny on the pitch. Anyhow AB is a fund manager now doing a spot of writing and being a switched on fellow I am happy to help promote his ideas. As it happens his first article as a journalist is on Dignity (DTY) which I wrote about earlier today as well. We seem to agree. ‘Natch. Over to Aubrey…

“In this world nothing can be said to be certain, except death and taxes.” [1]

Price 1,088
Market Cap 5952
Price/Earnings 20.0
Price Book 35.1
Yield 1.3%

Dignity is a much loved small-cap stock. Panmure, N+1 Singer, Numis, and Investec are all bullish on DTY and have buy notes written about it. Only Peel Hunt is less bullish, though not enough to write a sell note. Supposedly this is a very secure and stable business and is deserving of a PE ratio of 20. Certainly from the price chart alone I might have to agree.

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3204 days ago

Blinx: KoldCast TV deal announced – Speculative Buy

M-listed blinkx plc (BLNX), which describes itself as “the world’s largest and most advanced video search engine” , has today announced a further partnership deal – this with KoldCast TV, an international television network of original entertainment programming. This will give blinkx users access to premium internet television series, short films and documentaries – with KoldCast’s shows spanning every genre from family-friendly to sci-fi among 225+ original series. Leveraging its unique platform, blinkx will place contextually relevant advertising against these videos and share resulting revenue with KoldCast. This represents a further step in blinkx’s strategy to serve the most relevant advertisement, at the optimum time, with the highest monetisation rate, to the widest audience but, at a present 65p share price, capitalising the company at more than £235 million, is there currently value in the shares? The following reviews this…

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3204 days ago

Dignity – Death is not a one way bet

AIM listed Funeral homes group Dignity (FTY) is one of those companies whose shares always look expensive, but then always seem to head higher. You always kick yourself for not buying the stock, after all we have an ageing population and so death ( like taxes) looks a sort of one way bet. As it happens, that is not the case. At a share price of £11.02 the company is now capitalised at £603 million. Is this justifiable?

The group has expanded largely by opening more and more funeral parlours across the country. I had assumed, as I suspect had you, that an ageing population meant that it would have more, er .. customers. But it is pointed out to me that we actually face a bit of a demographic blip. The effects of WW2 and improved health care mean that for the next decade or so the number of “customers” will not actually increase but will fall marginally. It will start picking up again in c2022.

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3205 days ago

Vialogy – Cynicism Bordering on Exploitation (of shareholders): Sell

Director lifestyle (oops I meant to say oil exploration services) group Vialogy (LSE:VIY) needs to raise cash urgently or it is going bust. That is not just me saying that,. That is the bombshell from its auditors that the company snuck out over Christmas when no-one was watching. Its attempts since then to sucker private investors into buying the stock so that it can get a rescue placing away ( at a huge discount ‘natch) display a cynicism which is quite extraordinary. Anyone buying the stock in the market is being exploited shamelessly as I shall detail below.

The shock warning from the auditors came out on December 31st. Yup, New Year’s Eve when no-one was paying attention. I try to watch this company like a hawk but I missed it. The statement is pretty clear:

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3206 days ago

Wandisco – a 2014 PE of 103 but might still be cheap

Normally I would consider that a company that will be loss making unto, calendar 2014 but which at a 493p share price trades on a 2014 PE ratio of 103 would be a slam dunk sell. Wandisco (WAND) is just that company and it cannot be described as a tradition Benjamin Graham style value investment. But before Lucien Miers thinks about shorting the stock, I suggest that he reads on. This is not as simple as it sounds.

Wandisco sounds like a seedy night club in Corfu. I fact I think I have been there. But in fact it stands for Wide Area Network Distributed Computing. Based in the US since its conception in 2005 its patented software allows developers in different locations to work simultaneously, creating a seamless global network. Users at every site where Wandisco is installed have local access to the same data at all times, which means that they can make changes locally and see each other’s changes immediately.

The four key points about this technology are that

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3208 days ago

Is Xcite Energy a speculative buy?

Shares in AIM and Canada-listed Xcite Energy (XEL) hit 395p in January 2011 as it reported on a successful “transformational well” drill on its flagship Bentley oil field in the UK Northern North Sea, 160 kilometres east of the Shetland Isles. However, market disappointment at a 10th May 2011 reserves report on Bentley saw the shares fall from 316.5p to close at 110p just seven weeks later. They hit a low of 67.5p in July 2012 and currently trade at 92.75p – capitalising the company at approaching £270 million. The stock is a darling of the Bulletin Boards. But is it good value?

The company was somewhat bemused by the market reaction to the May 2011 reserves report but the announced resource base was somewhat smaller than many had been expecting and the company’s shares had risen on significant hype in the lead up to the January well announcement

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3209 days ago

Bellzone Mining – Bell Ends?

Sometimes you do wonder about some of the folks running AIM listed companies. Is there some sort of secret sweepstake CEO’s hold each year to see who can act like the biggest knob with a press release that sends investors the wrong way. If so, AIM listed Bellzone Mining (LSE: BZM) put in a strong late run with its announcement of 27th December in which it boasted of its first shipment of iron ore from Guinea. It stated that it was “delighted to announce that the first shipment of iron ore from the 50:50 Forecariah joint venture operation in the Republic of Guinea, West Africa was despatched on 26 December 2012. The Company will issue a more detailed statement on January 3, 2013.” And today? Er……

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3210 days ago

Bellzone Mining: Good News & Hot sector but are the shares ahead of themselves?

Suddenly the price of Iron ore has picked up, spurred by a recovery in Chinese Demand. Iron ore stocks have responded with a number showing sharp gains in the past month. Among the winners is Anglesey Mining (AYM) but also Bellzone (BZM) which has assisted its cause with news on both of its projects in the West African country of Guinea. The Bellzone share price has pushed ahead by 3p to 16p over the past month valuing the company at £117 million but some brokers reckon that it could still double from mere. There is a bear case as well as a bull case.

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3211 days ago

Guest post from Sam Bottell: Afferro Mining – Buy for the bid or on fundamentals?

I spent two years working along Sam Bottell as he worked with minesite and oilbarrel and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…

AIM listed Afferro Mining (AFF) is a West African focused iron ore play. With a solid net cash position and an attractive portfolio of assets one can make a solid case for buying the shares on fundamentals, a case strengthened by the recent recovery in the iron price. But there is also a corporate angle with the company admitting just before Christmas that it can “confirm that it is in discussions with multiple parties which may or may not lead to a strategic investment or a proposal to acquire the outstanding shares of the Company.” Not surprisingly the shares have rallied from a year low of around 40p in the second quarter to a share price today of 101.25p today, valuing it at £106 million. But arguably there is more to come.

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3214 days ago

Central Asia Metals: Delivery in 2012, cash return in 2013

I spent two years working along Sam Bottell as he worked with minesite and oilbarrel and he is a good, honest and clever chap. Now that he is starting his career freelance writing I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…

On AIM among mining stocks the norm appears to be for projects to be delayed, to run over budget and for companies to be constantly issuing shares to raise cash to keep going as a result. Central Asia Metals (CAML) bucks all three trends. Perhaps that is why whilst most mining shares fell sharply during 2012, Central’s share price of 122.5p is just 1p below the year high and values the company at £105.7 million. The company is now engaged in a material return of capital to investors via buybacks and dividends that will more than underpin the current level – indeed I suspect that this stock could trade at 150p within a year and here is why.

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3215 days ago

Gemfields (GEM) – A 2013 diamond?

I spent two years working along Sam Bottell at minesite/oilbarrel and he is a good, honest and clever chap. Now that he is starting his career freelance writing I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…

AIM listed Gemfields (GEM) has avoided the bloodbath affecting most junior miners during 2012. At a share price of 35.5p the company is valued at £114 million and is only 4.5p off its 12 month high. But could 2013 be the year when the shares really begin to sparkle?

The company’s principal asset is a 75% stake in the Kegem project in Zambia – this is the world’s largest emerald mine. In addition the company also has a 50% interest in the Kariba amethyst mine which is also in Zambia. These two assets leave the company as a solid cash generator.

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3216 days ago

When will Great Western Mining run out of cash?

ave written before about AIM Listed Ireland based Great Western Mining (LSE:GWMO) noting that it shares far too many connections with mega joke valuation company US Oil & Gas (USOP). I note that today shares in Great Western are off by 16% at 2p valuing the company at £1.3 million. It doubt very much that it is worth that much. To me the only question is when shareholders will be put out of their misery by this company running out of cash. Its accounts are presented in an “interesting” manner and so long suffering suckers, oops, I meant shareholders may not have realised how grim the picture is.

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3222 days ago

Highland Gold: A 2013 Recovery Play?

Like many junior miners, AIM listed Highland Gold Mining (HGM) has seen its share price decimated during 2012. The stock traded at 197p at the start of the year but now sits at 91p valuing the Russian based gold producer at just shy of £300 million. Indeed during the past few weeks as folks have worried that the great bull run in the gold price is about to end the shares have lost 20%. I do not think gold is heading lower. So is Highland a recovery buy or is the sell-off only just beginning? I sense we may be close to the bottom.

The material de-rating is down to a number of factors. The whole sector has been about as popular as the Jimmy Savile fan club during 2012 and it is hard to swim against such a tide. However having Barrick Gold dump its 20% stake in the company in April at 120p a share also spooked some investors. And there were operational issues thanks to inclement Russian weather (whatever happened to global warming?) and that impacted net income. But recent news is more positive.

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3223 days ago

Access Intelligence: Decent Trading Update

I recommended shares in AIM-listed governance, risk and compliance software provider Access Intelligence (LSE: ACC) on t1ps.com, the website I founded in 2000 and edited until September of this year when I left to set up the Nifty Fifty offering, in November 2010 at 4.25p. They have traded briefly above 5p since but fell to lows of 2.25p a year ago, before subsequently recovering somewhat to trade at a current 3.5p share price. Following the close of the company’s year to 30th November 2012, the following reviews a trading update the company has released today and what it means for the current investment case… buy, sell or hold?

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3223 days ago

Zak Mir and I agree on Falklands Oil & Gas - Sell

Just a brief note on AIM listed Falklands Oil & Gas (FOGL). Thanked by no-one really I have been warning folks to bail out all summer. And I have remained bearish. My most recent piece was on November 27th when I said that the stock was still a sell even down at a 37.5p share price. The share price is now 29.75p. But it will get worse.

It is always good to agree with a good pal and I have few better friends than Zak Mir. I do not really understand the world of technical analysis but according to him the charts look dire. He has thus published this sell advice today .

It rather chimes in with my own fundamental sell advice published here on November 27th.

I think that makes the conclusion a universal “sell”

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3224 days ago

Fox Davies Buy Range Resources at 3.655p with a 25p Target Price. I disagree natch.

You know that I am a bear of AIM listed oil producer Range Resources (LSE:RRL) but I am nothing if not a balanced sort of fellow and hence this piece. I reckon that the shares are stonking short on the basis of non delivery, peer group relative cashflow multiples and the act that Range’s cash position is less than splendid – I am convinced that it will do a funding at some stage soon.

But others are bullish. Notably the company’s house broker Fox Davies which has reiterated its 25p target share price and buy stance in a research note out today ( 19th December).

My target price is 1.5p and you can read why HERE.

But becuase I am such a decent sort of fellow I offer an alternative viewpoint.

Download the PDF here

Whether you buy, sell or hold is your call. Have a very merry Christmas.

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3224 days ago

Universe – the recovery continues

Shares in AIM-listed payment and on-line loyalty systems company, Universe Group (LSE:UNG) are an award winning disappointment of a share tip from my 12 years founding and running t1ps.com. Once again I can only apologise. However, I updated readers of this website in October – with the share price then at 2.75p – suggesting that, having already recovered from lows at the start of the year of 1.25p, there could be further recovery ahead and it was time to average down. Now at 3.75p, the following updates my view following a trading update released yesterday…

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3224 days ago

Buy Impellam after Trading Update

AIM-listed staffing and outsourced support services company, Impellam (IPEL) is a big success from my time at t1ps – the website I founded in 2000 and edited until September of this year when I departed to launch the Nifty Fifty offering. I recommended the shares on t1ps at a share price of 40p in September 2009. Today the stock trades at 315p valuing the company at £141 million after a trading update yesterday. This is still a great long term buy.

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3224 days ago

Norseman Gold – Company Update

Since the shares remain suspended there was no rush to comment on the news from AIM and ASX listed Norseman Gold (LSE:NGL) which came out on Friday 14th December. It does not read well but having spoken to the company’s advisors it is not a write off yet. As I shall explain below.

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3224 days ago

Vialogy – Bizarre Statement: Pre placing Ramp Alert & Christmas Vialogy Carols

AIM listed board lifestyle, sorry I meant oil technology, company Vialogy (LSE:VIY) has issued a “CEO statement” today which is bizarre. Bearing in mind that this company will be almost out of cash by March it is clearly part of a share ramp campaign ahead of a placing. Before the Bulletin Board morons have a go at me I ask them to consider a) timing and b) content. This stock is a slam dunk sell at a 2.125p share price as its cash crisis intensifies. This statement should alert you to that.

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3225 days ago

Welcome Back free share tip – Buy Cupid at 166p

I have been enjoying a three week break from this website and to celebrate my return I offer a free share tip in the form of AIM listed online dating group Cupid (CUP) which holds an EGM tomorrow to authorise share buybacks. Oddly the stock has dipped ahead of that EGM which will be a formality and that presents a buying opportunity.

Whatever your views on social networking, the fact is that the shifting of social interactions is moving further and further online across the globe. Cupid is successfully tapping into this and whilst, on a superficial basis, the current price-earnings multiple may not look overly attractive, further investigation reveals that within a couple of years the current share price seems likely to be looked back on as a great opportunity. Having risen from a 60p listing price to highs of 250p just over a year ago, the share price is now 166p valuing the firm at £140 million.

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3225 days ago

Guest Post: Zak Mir says EMED on a Rising Price Channel

Although it can be seen on the daily chart of EMED Mining that the shares have been in a volatile state at best over the past couple of years, the dominant charting feature still remains in place in the form of a rising May 2011 price channel. This nominally has its floor level with the 9.5p zone, something which suggests that we can assume further upside is on it way.

It is also implied that any weakness toward the uptrend line of last year should be regarded as a buying opportunity. Indeed, the attraction from a technical perspective is that while last year’s support feature remains in place the upside here could be substantial, if only in percentage terms. This is said on the basis of a 2011 resistance line projection heading towards 18p plus, a feature that can be regarded as the 3-4 month target. What can be said currently

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3225 days ago

Range Resources – Not Very Good Statement: Still a Sell

AIM and ASX listed oil producer and explorer Range Resources (LSE:RRL) has served up a statement which is, in summary, not very good. There are elements of hope but also delays and disappointments. And these delays cannot help its cash position. Not surprisingly the share price has been marked lower, to 3.75p, but that does not present a buying opportunity. The stance remains sell. The target price remains 1.5p. And here is why.

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3225 days ago

The Strange Case of Zoltav Resources

The Zoltavians are tweeting and frothing away on Bulletin Boards once again. This strange sect believe that a great Roman God will bring them great wealth if they buy shares in a company which, in my opinion, by any conventional measure is one of the most overvalued on AIM! I refer to Zoltav Resources (LSE:ZOL). Their hopes can be compared to my preparing a great meal for Saturday and stocking up at the chemist’s for other “items required” (nudge, nudge wink wink!) in the hope that my email asking Britain’s leading chanteuse, the delectable Ms Cheryl Cole, might secure me a hot date and a night of passion!!! It is just conceivable that the fragrant Ms Cole might drop everything and head round to Winnifrith towers for the night of her life but I concede that it is unlikely… As to Zoltav making folks cash if they buy at s share price of 3.425p, well that really defies belief.

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3226 days ago

Link up with a FTSE 100 stock? The Pursuit Dynamics, Vialogy, Proteus 3 card gambit – Adele is singing soon

What do the following companies have in common: Pursuit Dynamics (LSE:PDX), Vialogy (LSE:VIY), Proteus International and Firecrest? Two of the four have sent me lawyers letters about articles I have written. Those two companies no longer exist. I am still writing. So that is not it. In fact all four have two things in common.

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3226 days ago

Sefton – October Official California output numbers revision ( down natch) & Zak Mir comment

PrintAt last the DOGGR website from the State of California has published the official October output numbers from AIM listed penny dreadful oil producer Sefton Resources (LSE:SER). And guess what? The number is lower that the company itself was saying in an RNS issued 12 days ago. Hey ho. Happy Christmas chairman Jim Bob Ellerton when are you going to issue a profits (or lack of them) warning?

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3226 days ago

Range Resources – I have some sympathy

Range Resources (LSE:RRL) was forced to issue a statement on 14th December saying that it noted unusual share trading activity and knew of no reason for this but that it plans operational updates within the next few days. Though I continue to believe that the shares are materially overvalued at 3.95p (my target share price is 1.5p) I find myself having real sympathy for the company. I guess it is all that Christmas spirit filtering through even to my black Ulster heart.

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3230 days ago

Northern Petroleum: unlocking value in 2013?

Some companies are loved by one and all and so trade at a clear premium to underlying value – Next & ARM for example. For others, the reverse is true. Northern Petroleum is in the latter camp. That is an endless source of frustration as evidenced by the stream of adverse comments on Bulletin Boards, mostly directed, rightly or wrongly, against the company’s boss Derek Musgrove.

To be fair to Musgrove – who I should say is a friend with whom I have watched West Ham for many years – when he arrived at Northern the share price was sub 10p (adjusting for consolidation) and the asset backing was more or less nothing. That was just over twelve years ago. Today the share price is 53.25p ( Musgrove having just bought 25,000 shares yesterday) and the company is sitting on £20 million of net cash and a raft of assets. Overall that is not a bad recovery – a share price gain of 450% over 12 years is, after all, better than Warren Buffett.

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3231 days ago

Spin & bullying – sure signs of a placing on the way

As private investors we have come to loathe private placings. If the shares are 10p before City fund managers are made insiders they are 8p by the time a placing is completed as somehow word seeps out. about any AIM listed stock. Odd that. And so the placing is done at a 20% discount to 8p and a stock which you were paying a share price of 10.25p a week ago is suddenly being offered to institutions only at 6.4p. It is not as if the fund managers are any more likely to be long terms holders than you are. They will spiv the shares out at 8p given half the chance and so boast of a 25% return in 2 weeks.

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3232 days ago

Gable: More than 100% ahead and still a winner

Shares in Gable Holdings (LSE:GAH), the AIM-listed non-life insurance company underwriting a range of specialist commercial sector policies across Europe, have continued to make progress since I previously updated on the company towards the end of last month. This follows some positive December news flow, which I review in the following piece. I first recommended shares in this company in 12 years at t1ps – in this case in July 2006 when they traded at 18.5p. Since departing t1ps in September, I have updated in October (shares at 31.5p) and then last month (shares at 39p) – noting on both occasions that the share price looked to have a good way to go. Now with the share price at 41.5p ( so not a bad share tip), the following summarises my current thoughts…

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3233 days ago

Vin Murria's Advanced Computer Software buys again - good deal?

AIM-listed healthcare and business management software and services provider, Advanced Computer Software (LSE ASW) has today announced a continuation of its buy-and-build strategy with an agreement to acquire Serco Learning, a leading UK education software provider, for £7.25 million in cash. This follows Advanced’s shares closing at an all-time high of 67.5p on Friday – capitalising the company at just over £251 million. The share price compares to 34p when I recommended the shares in September 2010 on t1ps, the website I founded in 2000 but departed in September. The following reviews today’s announcement from Advanced and the investment proposition at current share price levels…

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3235 days ago

Orosur Mining - a gold winner so far for me and set to glisten

Orosur Mining (LSE OMI) is an AIM and Canada listed gold producer, shares in which I initially recommended as a share tip at 24.25p in May 2010 on t1ps.com – the website I founded in 2000 but departed from in September – and subsequently updated on here last month. On Friday the company released a production update which I review in the following against a backdrop of a 37.75p share price

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3236 days ago

Buy Amara Mining at 65p – worth 99p to 124p says top broker Ocean Equities

Top broker Ocean Securities has published a buy note on Amara Mining (LSE:AMA) in which it suggests that investors buy the shares at 65p with a target price of 99p. I long followed Amara, formerly known as Cluff Gold on t1ps.com and I also regard the shares as very cheap. As I shall explain below.

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3236 days ago

Sefton – Chairman Buying shares but is this real cash? Company will not say.

The deluded fools still aboard the good ship Sefton (LSE:SER) were thrown a bone today with news that the pension plan of chairman Jim Ellerton has ponied up £76,145 in a placing at a share price of 1.1044p – this they argue is a huge vote of confidence in the AIM listed oil stock. Er…perhaps not. Is this real cash? The company will not say.

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3237 days ago

Sefton Death Spiral Begins – Death Postponed but not for long.

Unable to get away an equity placing AIM Listed penny dreadful oil producer Sefton Resources (LSE:SER) today announced that it has started to draw down on its Darwin Death spiral (sorry Equity drawdown facility). But the amount drawn down is pitiful. Okay the lights do not go out on March first but death is merely postponed. And with the shares issued at just 1.1044p a mere £648,855 (pre costs) was raised.

First up – is this dilutive? Heck yes. That is another 59 million shares in issue. IN other words the company has just increased its shares in issue by 11.3% to raise a pitiful £648,000 (before expenses). Let’s call that £600,000. But with the shares having been listed at 95p and now trading at a share price of 1.125p investors are used to dilution.

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3237 days ago

The Great AIM expenses fiddle

There are two sorts of businesses on AIM. Those floated by entrepreneurs who retain a large stake in the enterprise and there are those where professional (if not always competent) managers have a relatively small equity stake. Sadly most AIM companies fall into the latter category and thus there can be a clear lack of alignment between the interests of those running such a company and those who own it: shareholders (editor interject – JJB, Plus, HMV ring a bell?!!). Thus we come to the great expenses scandal which will be, I sense, a story that will start to take off in 2013. It is always good to be ahead of the curve…

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3237 days ago

ILX – The Bos is making moves: Upgrade to Speculative Buy

I noted in an update here yesterday on ILX Group (LSE:ILX), the AIM-listed provider of e-learning software and business training, that new executive chairman/interim CEO, Wayne Bos, had overseen the identification of a small number of acquisition opportunities, with the first of these under consideration. Bos has wasted little time concluding this – with ILX announcing it has acquired Obrar Ltd, a consulting and project management services company. The following takes a look at the details of the acquisition and its likely impact for the ILX share price.

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3237 days ago

First Property Interims & CEO Chat

AIM listed property investment group First Property (LSE:FPO) has not exactly been a stellar share tip from my twelve years running t1ps.com. I tipped the stock at 19.25p in May 2008 and after publishing results for the six months to 30th September yesterday the shares trade at 18.75p. We have, to be fair, enjoyed 4.82p in dividends, so it is no disaster either. But where next? I chatted at length to the rather posh CEO Ben Habib yesterday and this is very interesting – the market capitalisation is £20.82 million.

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3238 days ago

Sefton November Output – The Usual Spin: Company still heading for the rocks

AIM listed penny dreadful oil producer Sefton Resources (LSE:SER) has released November output numbers which it seems to think are good but as ever the reality is rather different. The bottom line is that this company should be issuing a profits (or lack of them) warning. And of course that it will be out of cash ( and with debt still to clear) by very early next year. My target price for the shares remains 0.01p – the stock closed at a share price of 1.18p today.

The company states that output (before adjustments) was 119 bopd in November. At one level I have to commend Sefton for increased disclosure. Yes I am being complimentary.

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3238 days ago

K3 Business Technology – AGM statement buying opportunity

I initially recommended shares in K3 Business Technology (KBT), an AIM-listed provider of software, hosting and managed services to the supply chain industry, at 145p in August 2007 on t1ps, the website I founded in 2000 but departed from in September of this year. The shares hit 236.5p in 2011 and again traded above 200p earlier this year before falling back to the initial tip price on news on 18th September of this year that the company was to terminate a formal sale process as the board did not believe that takeover proposals received were at a level that it would be able to recommend to shareholders. With the share price at 147.5p following an AGM trading update today, the following reviews this and the current investment case here…

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3238 days ago

ILX Restructuring – Back the Bos?

Last week, ILX Group (LSE:ILX), the AIM-listed provider of e-learning software and business training, announced the shock departure of long time CEO Ken Scott. And this week we have weakfish interims and news of a restructuring. It is all coming rather thick and fast but suggests that 29.9% shareholder and new executive chairman/interim CEO Wayne Bos is acting ruthlessly to turn this ship around. His interests are aligned with those of other shareholders and he has a good track record. Should you back the Bos despite the admission that half year numbers were “disappointing.” On balance there is a case to be made, at a share price of 10.125p, although, as I discuss below, it is not 100% clear cut. This has been one of my worse share tips from t1ps.com and I apologise The issue is what next?

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3239 days ago

Sell Wessex Exploration – Buy Northern Petroleum

Shares in both AIM listed oil stocks have slumped today. Northern (LSE:NOP) is off by c14% at 54.75p, Wessex (LSE:WSX) by 21% at 4.8p. Not a good day for either. The reason is that the Zaedyus-2 well in Guyane does not appear to have found commercial oil although we will not get full data for another ten days or so – logging starts tomorrow. Though I am a Northern bull I am in a sense vindicated as well ahead of drilling I argued that folks should take a pair trade: buy Northern at 67p and sell Wessex at a share price of 8.375p. If you followed that pair trade you would be a net 24% ahead. That is smart investing.

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3239 days ago

Northern Petroleum – Probably Duff Well, Company chat and market over-reaction – Wessex it is different

I published most of this share tip article earlier on my Nifty Fifty website – where I shall publish a new share tip later today: The Zeadyus-2 well in Guyane has not found commercial oil and has been abandoned. The share price of Northern Petroleum (LSE:NOP) has duly slumped by 14% to 54.75p. This is a total market over-reaction. I have discussed this at length with exploration manager Graham Heard and CEO Derek Musgrove and here’s the score. The shares remain a buy. The same cannot be said for Wessex Exploration (LSE:WSX) which like Northern also has a 1.25% stake in this field.

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3239 days ago

Access Intelligence: Shoot the dog or follow the bird in charge?

Shares in AIM-listed governance, risk and compliance software provider Access Intelligence (LSE:ACC) have yet to really spark since I recommended them on t1ps, the website I founded in 2000 and edited until September of this year, in November 2010 at 4.25p. They have traded briefly above 5p since but fell to lows of 2.25p a year ago. They have subsequently recovered somewhat and a material director share purchase announced today sees the shares currently trading more than 11% ahead on the day at a 3.75p share price. The following reviews this further and takes a look at the current investment case…

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3239 days ago

Pursuit Dynamics – Close Short for now & Bank Gains

I continue to regard AIM listed Pursuit Dynamics (LSE:PDX) as a total joke of a company and the fact that it has raised another £6 million at 3p to keep the show on the road does not alter the fact. This enterprise has consistently had its “world changing” technology out for trial after trial after trial and no-one seems that keen on handing over hard wonga to utilise it. That investors have stumped up £6 million reminds me of the description once applied to someone engaging on a second marriage: the triumph of hope over experience. With the share price now at 3p where does this leave Pursuit?

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3239 days ago

IQE – A world leader from Wales (there has to be one)

Like a capitalist-supporting article in the Guardian or a Gordon Brown appearance in Parliament, AIM-listed IQE plc (LSE:IQE) is a rarest of things – in its case a Welsh world leader in an economic space. The company is a leading global supplier of advanced ‘wafer’ products and services to the semiconductor industry – which then utilises them in the chips which comprise the key components of high-technology systems. Having taken a healthy profit on the shares in August 2010, I re-recommended them at 24.75p in February of this year on t1ps, the website I departed in September having edited it for the 12 years since its launch in 2000. Following a contract announcement today the share price is 27p and the following reviews this announcement and the investment case from here…

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3239 days ago

Ceres Power & Duff Calls – Still a sell

AIM listed Fuel cell technology developer and all round eco-green nonsense penny dreadful Ceres Power (LSE:CWR) is not going bust. It has found a saviour. As such my target price of 0p is (pro tem ) looking a bit optimistic. For now. But are the shares really worth 3.01p – the current share price? I very much doubt it. As I shall explain below.

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3240 days ago

Minera Drilling News – A Golden Prospect?

AIM, Canada and Peru-listed Latin American gold miner, Minera (LSE MIRL) has followed last week’s publication of a feasibility study on its Ollachea project in Peru with an announcement that it has awarded a contract to begin drilling extensions of the Ollachea ore bodies from underground. This is a company I followed for a couple of years on t1ps – the website I founded but departed in September – and initiated coverage post-t1ps last month, suggesting, with the shares then at 50.25p, it not a bad move to add a few shares in the company to a gold portfolio at those levels. With the share price now 54.5p, the following reviews today’s announcement…

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3240 days ago

Gem Diamonds Disposal – Very Confusing

Maybe I am just thick but today’s news from AIM listed mining stock Gem Diamonds (LSE:GEMD) that it is to sell its Australian diamonds mine at Ellendale has me utterly baffled. You see the price tag just bears no relation to its balance sheet value. Needless to say it is the price tag that is far lower.

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3240 days ago

CPP – Now 12-13.75p if you have not closed do so now

As you may remember, I advised shorting this AIM listed financial services group at 26.75p on 21st November on the basis that the chances of a bid for CPP (LSE: CPP) happening were zilch. That was because I had taken the trouble to find out that the putative US bidder (Affinion) had no cash. A week later the bid talks were called off which should have paid for Christmas for anyone who took my advice.

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3243 days ago

Minera: Good news from Peru – cheap but are there cheaper gold plays?

AIM, Canada and Peru-listed gold mining stock Minera IRL (LSE: MIRL) has today announced the results of a feasibility study on its Ollachea project in Peru. This is a company I have followed for a couple of years on t1ps.com and more recently on my own blog and which I have recently written about in a modestly bullish way twice – with the share price lower than it is today. The following reviews the feasibility study announcement and its implication on the current investment case…is it still a good share tip?

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3243 days ago

Liar, liar pants on fire – it is another press release from Sefton Resources

Aim listed penny dreadful oil producer Sefton Resources (LSE:SER) is at it again with another RNS press release which contains a lie. This is such a blatant lie I wonder how anyone can now believe a word that chairman Jim Ellerton or his IR gopher sidekick Doctor Green now says. It is sheer comedy. Of course there is a serious issue in that Sefton desperately needs to issue equity soon. It will – as things stand – be out of cash (but not debt) within two months. Tick tock. Tick tock. Tick tock. That is why the stock remains a sell at a share price of 1.18p with a target price of 0.01p

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3244 days ago

Guest Post: Zak Mir on Avanti Communications

My pal Zak Mir asks me to plug this article. It is all TA (Technical Analysis) gobbledygook to me so I have no idea what it means but it is about Avanti Communications (AVN).

Avanti has served up a roller coaster ride of price action so far in 2012 that apart from being excellent fodder for a whole books worth of technical analysis, has although given traders / investors the most painful of journeys. But at least after an accelerating decline from an initial August bull trap retreat it would appear that the bulls have a “final” opportunity to go long on an non catching a falling knife basis, or even worse, a leap of faith.

This is said on the basis of a falling line of support from August last year on the daily chart currently running through the 211p level.

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3244 days ago

Advanced Computer Software- I am 96% ahead but still a bull

I published an pre-results note last week on AIM-listed, UK-focussed healthcare and business management software and services company Advanced Computer Software (LSE: ASW) ahead of the company’s results for the six months ended 31st August announced yesterday. As expected, the results were strong and the share price has moved ahead to hit a high of 66.5p – capitalising the company at £246.3 million and providing not a bad return since I recommended them as a share tip on t1ps, the website I founded in 2000 and wrote for until September, at 34p in September 2010. The following reviews the results and current investment proposition…

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3244 days ago

Avanti Communications: Director Buying & Cenkos Note with 900p target: Buy

The share price of AIM listed satellite group Avanti Communications (LSE: AVN) was marked down by 10% yesterday. Oh no! Is bear raider Evil Knievil right after all? Is there an institution bailing? The emails flooded in. Evil is not correct. A director has bought shares this morning and there is also an upbeat broker research note out from Cenkos this morning. If there was something amiss then Avanti would have had to declare it at its recent AGM. It did not.

My own support for Avanti is well known. The stock was a share tip from me at 116p on t1ps.com but I continue to value it at a multiple of today’s 223p – a market cap of £251 million.

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3245 days ago

ILX - CEO Goes: Panic?

This is a hard piece to write. Firstly AIM listed training and software group ILX (LSE:ILX) has been a disastrous share tip for me from my days at t1ps.com – recommended at 72.5p in February 2004 the share price is now 10.75p. I can only apologise for that. My average gain per tip over 12 years and 241 tips would have been a bit better than 42.7% had I never met this company. Secondly the CEO (until today) Ken Scott is a nice guy and a friend of mine. As it happens the FD who resigned several months ago (Jon Pickles) is also a mate – he will officially leave the payroll at Christmas as will Ken.

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3245 days ago

CPP Group – Bid Off: My short call a 1 week Triumph which pays for Christmas

Those who took my advice to short AIM Listed CPP Group (LSE:CPP) at 26.75p exactly a week ago will be able to collect their handsome winnings by tomorrow morning thanks to an after-hours announcement today. Oh happy days.

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3245 days ago

First Property – A Pre Results buy?

Shares in AIM listed UK and Central Europe commercial property fund manager First Property (LSE: FPO) were recommended on t1ps, the website I founded in 2000 and edited until I left in September to set up the Nifty Fifty, at 19.25p in May 2008. They presently trade at 19p and thus, though the company has paid out 4.82p per share in dividends since the initial share tip, this has not been a stellar recommendation – but far from disastrous either. Ahead of results from the company for the six months ended 30th September 2012 – due a week today (on 5th December) – the following takes a look at the current position here…

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3245 days ago

Leyshon Drilling News – It is good but Unclear

Leyshon Resources (LSE:LRL) shares have been unsuspended (at 25p) and have duly plunged back to 20.25p in the middle after the release of drilling news from China. I sense that a lot of Bulletin Board loons had got a little bit carried away last week pre-suspension and are now banking gains or just panicking as they do not really understand a statement which is, on balance, good. Some loons are even expressing disappointment that it is a gas discovery not oil which is odd as Leyshon always said it was drilling for gas in a gas rich region.

I tipped this stock at 11.5p (offer) in late October on the Nifty Fifty website

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3246 days ago

Plastics Capital: Results Comment Boring is still sexy

AIM-listed manufacturer of niche plastics products for global markets, Plastics Capital (LSE:PLA) has today announced its results for the six months ended 30th September 2012. This is a company whose shares I first recommended on t1ps – the website I founded in 2000 and left in September this year to set up the Nifty Fifty – at 40.5p in November 2009. I again commented positively here in September, offering a free share tip with the shares then at 66p, and the share price is now 72p on the back of today’s release. The following reviews the results and the outlook from here…

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3246 days ago

A Magnificent Six Oil shorts for today

Having called both Falklands Oil & Gas (LSE:FOGL) and Borders & Southern (LSE:BOR) pretty brilliantly as oil junior shorts my pal the bear raider Evil Knievil and I had a good chat about which of the 90 or so juniors out there are the best shorts now. The odd thing is that despite a series of disasters across the sector, private investors still seem to be in love with a raft of pretty ordinary juniors. The astute commentator Was Shakoor summed it up the other day on twitter “why is it that across a string of wells where there is said to be a 15% chance of success only 5% seem to be successful?”

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3246 days ago

Gable: New business announcement – starting to sparkle

AIM-listed non-life insurance company, Gable Holdings (GAH), has been something of a star share price performer recently – the shares having commenced 2012 trading at 22.125p and now at a year high of 39p. I first recommended these shares on t1ps.com, the website I founded in 2000 and edited until this September when I left to start the Nifty Fifty, at 18.5p in July 2006 – so this has been something of a slow burner which is now sparking into life as a red hot penny share. This is particularly gratifying as I gave an updated view on the company last month, with the shares then at 31.5p, concluding that “the shares would not be particularly expensive at double current levels and believe there materially more gains to come for shareholders here. Still a buy at up to 37p in my view with a target of 60p”. The following reviews a new business announcement from the company today and the outlook from here…

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3246 days ago

Falklands Oil & Gas & Borders & Southern, Vindicated by another duff well I say Sell again

Falklands Oil & Gas (FOGL) has today published a pretty disastrous statement on results from its Scotia well. The shares have plunged to 37.5p. I am sorry for those who have lost money but I warned folks to sell this at 67.5p on 19th July and again at 69.5p on 17th September. I also warned folks to bail out of fellow Falklands Play Borders & Southern (BOR) at 32.5p on August 27th. Its shares are now 16.875p. Those siren calls were greeted with hoots of Bulletin Board derision, I am not expecting any apologies or praise today. Perhaps the BB loons will not take note of the new situation today

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3247 days ago

Farewell Nexus – Hello Enables IT: Will it be any less of a dog?

It has today been announced that the reverse takeover of long-term disappointment, IT managed services provider, Nexus Management has been completed and that the enlarged company has been readmitted to AIM as Enables IT Group (EIT). I need no reminding of what an appalling tip Nexus was for me. During my 12 year stint at t1ps.com MY average gain per tip was 42.7%. Nexus pulled down that average badly. So do we stick with the new group?

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3247 days ago

Fox Davies: Minera share price set to more than double on news of resource upgrade?

On 21st November AM and TSX listed gold miner Minera IRL (MIRL) announced a material upgrade to its resource estimate for the Don Nicolas project in Argentina. The Measured and Indicated Resources have been increased by 23% to 468,000 ounces of gold. The economic effect of this is to increase the life of the mine estimate, something assisted by a 14% increased in the inferred resource estimate, to 165,000 ounces of gold. This has prompted broker Fox Davies to set a target price for the shares (56p today) of 116p.I do not entirely disagree with its analysis and here is why.

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3247 days ago

Reach4 Entertainment – Meaningful Director Buying

The directors of media and entertainment company, Reach4Entertainment (LSE:R4E) have made good on their previous stated intention “to subscribe for new ordinary shares at the prevailing mid-market price but not less than the placing price, as soon as these (Spot & Co earn-out payment) discussions conclude”. The following reviews today’s announcement from the company on this and the investment proposition from here. This was a very bad share tip by me at 81p on t1ps.com. But anyone who averaged down as I advised at 3.5p should on balance now be showing gains. I know some were panicked by others into selling at the bottom. I am sorry if you took that duff advice. The question is where to go from here.

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3250 days ago

Minoan: Acquisitions, Trading Update and Company Chat. Recovery play 2013?

AIM listed travel leisure and property group has not been one of my better share tips from my days at t1ps but news out this week points the way to it being, potentially, a great recovery play for 2013. At 8.375p the company is now valued at £12.6 million. That does look far too low for me and this is why.

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3250 days ago

Pan African: Rights Issue News - can we build on a 644% gain?

AIM-listed, South Africa-focussed gold miner Pan African Resources (PAF) is a big winner from my days at t1ps.com – the website I departed in September after twelve years. I recommended the shares there at 2.6875p in November 2005 and they currently trade at 20p a gain of 644%. The following reviews an announcement the company has made today about a c£50 million right issue and whether there remains more share price upside to come…

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3250 days ago

Snacktime Results: Time to bite the bullet?

AIM listed SnackTime (SNAK) is a terribly disappointing investment recommendation from my twelve years running t1ps.com – I tipped the shares at 145p in May 2009 and it has not been a red hot penny share. The stock is now 17.5p – I apologise. Although my average gain on that site was 42.7% there were some bad tips and this was one of them. The seller and operator of hot drink and snack vending machines across the UK yesterday announced results for the six months ended 30th September and the following reviews these and where to go from here…

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3250 days ago

Martin Wickham – Mad Hatter & Vialogy shareholder

I have really enjoyed writing about AIM Listed Vialogy (VIY) this week. Nailing a chairman for telling a lie is fun although why he told such a pointless lie defies belief. But on the basis that the company is a worthless, loss making heap of junk that has never delivered and that the chairman, is clearly ramping its stock as it tried to get away its 10th placing since 2007 (a well paid board needs supporting) I liked penning the pieces.

I explain why Vialogy is a screaming short HERE

I nail the chairman for the great Ronald Reagan lie HERE

The reaction when you have a go at companies like this is always the same. At first there is real anger on Bulletin Boards as the believers (those who have bought and bought at every lower prices, calling the board by their first names or initials and regard any criticism as blasphemy) lash out. They do so by attacking the bear writer. His record, stocks he got wrong, anything. They do so often without reading the piece. It was like that with Sefton in the early days. The comments at the bottom of the Reagan piece are a scream: I think my faves are

IStock “leave bob and vialogy they haven’t hurt anyone and are doing fine just
because of your biased article I am going to invest in vialogy tomorrow !
they do not need to prove anything to you ! vialogy one day will become a billion dollar market cap company !

and bob “You sir, are a cock. You are heading to the courts. Bon chance nob head x

But gradually as you are proved right and the awful truth emerges the anger shifts

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3251 days ago

Ortac – Gold Site Visit in Slovak Republic: Value Play?

Ortac Resources (OTC), the AIM listed developer of a gold mine in the Slovak Republic is today hosting an analysts jolly and has announced as much via RNS. Is it worth the trip? Is there value there?

The company’s shares have like most gold juniors not exactly prospered over the past year. Back in September I reported that speculation in the Daily Telegraph about a bid approach was just wide of the mark but I hinted that there might be value at 0.58p.

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3251 days ago

Terry Bond Chairman of AIM listed Vialogy is a liar – sell down to 0.1p

My friend the bear raider Evil Knievil always tells me that if you discover that a chairman or CEO has told one whopping lie, the odds are that he tells lots of lies. And on that basis unless the company has mammoth asset backing and highly visible earnings and cashflows the shares are a slam dunk short. And that brings me to Terry Bond, the chairman of AIM listed Vialogy (VIY) who is – as I shall demonstrate below – someone who just last week told a whopping lie. Since his company has minimal (and fast disappearing) asset backing, and sod all revenues this company is a slam dunk sell.

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3251 days ago

Interquest Trading Update: Buy, sell or hold?

My July 2006 recommendation on t1ps.com (the site I founded in 2000 and edited until this September) of shares in specialist IT recruitment group, InterQuest (ITQ) is not one which has covered me in glory. Having tipped the shares at 67.5p, they traded above 80p until economic conditions darkened in the second quarter of 2008. A low of 30.5p was hit in February 2009 and the shares again traded at sub 35p in August of this year. Having recovered a bit, to a current 49p, the company has served up a trading statement today so do you buy sell or hold?

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3252 days ago

Jubilee Platinum Concentrator announcement: enough to halt the share slump?

Jubilee Platinum (JLP) is a recommendation from my t1ps.com days which has far from covered me in glory – the shares currently trading barely above 2009 lows of 7.125p. An announcement today though has sent them currently more than 3% higher to 7.875p and the following reviews this…

The company has announced it has entered into an agreement to utilise the concentrator at Platinum Australia’s Smokey Hills project in South Africa – with it committed the full capacity of the concentrator for a minimum of 8 months and the parties having commenced formalising a toll processing agreement.

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3252 days ago

Lombard Risk Management New product launch and company chat

Lombard Risk Management (LRM) is an AIM-listed financial services industry focussed software company whose clients include more than 30 of the world’s ‘top 50’ financial institutions and almost half of the banks operating in the UK. I first recommended the shares on t1ps.com – the website I founded but departed from in September of this year to launch the Nifty Fifty – at 9.625p in 2005. They currently trade at 10p so this has been far from a red hot recommendation so far. However, I have taken some encouragement from recent operational pronouncements and see today that the company has announced the launch of a new compliance and audit application. Following a chat with the main man – founder, CEO and main shareholder John Wisbey – I offer the following thoughts…

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3252 days ago

Minera: Don Nicolas update – worth a nibble

AIM-listed, Latin America-focussed gold miner Minera IRL (MIRL) has today announced a resource update for its Don Nicolas project in the mining-friendly Santa Cruz province of Argentina. These are shares I previously recommended on t1ps.com ( the site I founded in 2000 and edited until September this year before leaving to establish the new Nifty Fifty site) and I updated on them at 50.25p a couple of weeks ago – urging readers to buy a few. With the shares now at 56.25p, the following scribbling reviews today’s announcement from the company…

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3252 days ago

Vialogy Joke Company – Pre Placing Ramp Underway – Sell

What is the hot and sexy word in the world of oil and gas right now? Shale deposits. They are going to transform the world as we know it and so any mention of the s word is bound to get investors licking their lips as if they had just been promised a sure fire night in the sack with the lovely Cheryl Cole. And so if you are a loss making company that needs to raise cash fast what do you do? Yes, issue an RNS headlining the word “shale.” You do not need to mention any pesky details like fees, revenues or cash, the “s” word will do, the shares will move ahead and you can get another placing away. This brings me to AIM listed joke company Vialogy (VIY)

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3252 days ago

CPP Group: Straight Sell at 26.75p – Bid Won’t happen, Lucian Miers on the case

There are five things that you need to know about AIM listed AIM Listed CPP Group (CPP). None of them should make you wish to do anything other than sell the shares as soon as possible. Firstly the company has just been hit with a £10 million fine by the FSA, secondly its balance sheet is now severely holes, thirdly earnings visibility is nil and finally a takeover approach it says it has received will almost certainly come to nothing. On a risk reward basis that makes the shares a great short at 26.75p – a level which values the group at £46 million. Oh the fifth? My friend the infamous bear raisder Lucian Miers has this down as his top trading short on AIM right now. Lucian is usually right. To the FSA first.

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3253 days ago

Advanced Computer Software – Almost 100% ahead: what next?

Shares in UK-focussed healthcare and business management software and services company Advanced Computer Software (ASW) were recommended on t1ps.com (the website I founded and edited until September of this year when I left to set up The Nifty Fifty) at 34p in September 2010. They have risen consistently since to currently trade at 62.75p – not far off recent highs of 63.75p. Ahead of results for the six months ended 31st August 2012 expected next Wednesday (28th November), the following previews what we can expect…

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3253 days ago

Norseman Gold – Latest Statement & Company Chat

AIM and ASX listed gold miner Norseman Gold (NGL) has, as we all know been a total disaster. But as I pointed out October 3rd, although this has been a disastrous tip for me, the game is not over yet. The company issued an update on 16th November and having enjoyed a good chat today with one of the advisory team, this is the latest.

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3253 days ago

Accumuli: Results Today still a buy ( 80% upside)

Accumuli plc (ACM) is a UK-based IT security software and services provider – shares in which were recommended as a hot share tip in May at 11.125p on t1ps.com, the website I founded in 2000 and worked for until September when I left to set up the Nifty Fifty website. The company has today announced results for the six months ended 30th September 2012 and the following reviews these and the current investment case with the shares now at 10.5p.

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3253 days ago

Amara Mining (Cluff Gold) Baomahun Results Analysis

I tipped Cluff Gold (CLF) in September 2011 at 96p on t1ps.com, the website I founded in 2000 and left three months ago to set up the Nifty Fifty
. Like most AIM listed gold shares Cluff has taken a beating but the shares have rallied in recent days and are now at 63.25p following the release of a new resource estimate for the Baomahun project. Those who nibbled at 58.5p the other day after I published a detailed analysis here will be feeling reasonably happy.

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3253 days ago

InternetQ – another tech buy?

Shares in InternetQ (INTQ), a provider of mobile marketing and digital entertainment for mobile network operators and brands, were a February 2012 recommendation on t1ps.com – the website I departed in September, 12 years after found it, in order to set up the Nifty Fifty. Having fallen back in the second half of this year, the shares are, at 182.5p, now little changed on the initial t1p price. The following takes a look at the outlook from here…

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3254 days ago

Densitron - Getting Interesting

I published an update on AIM-listed electronic displays designer and developer Densitron Technologies (DSN) last week – concluding that a low earnings multiple and its balance sheet backing were sufficient to make me believe the shares were worth sticking with. Since my original tip on t1ps.com, the site I founded and edited for 12 years before leaving in September to set up the Nifty Fifty, my followers are 21% ahead.

The company has today announced what it describes as a “significant move forward” in its long-term strategy to create intellectual property and provide additional services that enable it to meet a fuller range of product requirements.

The following takes a look at the announcement…

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3254 days ago

IQE – a safe tech wonder stock?

I recommended shares in AIM-listed IQE plc (IQE) at 24.75p in February of this year on t1ps.com – the site I founded in 2000 and left in September of this year. Shares in this leading global supplier of advanced wafer products and services to the semiconductor industry (which uses them to make the chips which form the key components of high-technology systems) now trade at 28.75p – so we are already a bit ahead here but could this be a red hot penny share? In the following I take a look at the outlook for the company from here…

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3254 days ago

Chaarat Gold – Double Win News from China – a six bagger?

AIM listed Chaarat Gold (CGH) has today announced two very good pieces of news concerning possible link ups with two of the three largest gold companies in China. This is incredibly encouraging and makes the shares a pretty compelling buy. I had flagged this stock up as one to own at 21.5p on 9th October arguing then that the shares were potentially worth up to 120p. The news today should lead to both the closing of Chaarat’s small financing issue and also to a dramatic reduction in its operating costs.

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3258 days ago

Reach4Entertainment – It was a recovery play, I was right

PrintReach4Entertajnment (LSE:R4E) was a disastrous tip by me during my 12 years at t1ps.com – I first recommended it at 81p. Back on September 21st those now running t1ps advised their readers to sell at 3.5p, not having bothered to speak to the company first. I did and called it as a recovery buy. I hope folks followed my advice and averaged down as the shares are now 7.5p following two pieces of news today. Are they still cheap? I think so and here is why.

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3258 days ago

Densitron: 21 Per Cent gains so far what next?

Shares in AIM-listed electronic displays company Densitron Technologies (DSN) were recommended on t1ps.com – the website I founded and from which I departed in September – at 11.75p in December 2010. In May 2011 a 5p per share special distribution was made to shareholders and since the t1p 1p per share has been paid out in ordinary dividends. With the shares currently trading at 8.25p we are thus 21% ahead here and the following reviews what to do now.

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3258 days ago

Aureus Mining Q3 Results: Still a sell?

Aureus Mining (AUE) was a poorly timed recommendation from my 12 years at t1ps.com and I recommended selling and reinvesting in more attractive gold plays at the start of this month with the shares at 57.25p. Following results for the company’s third quarter (to 30th September) released today, the shares now trade at 50p. Does this change my view?

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3258 days ago

Sefton Misleads Us All Again – Kansas Oil News Deconstructed

Sometimes reality becomes a parody of humour. In my recent spoof downfall video of AIM listed penny dreadful oil producer Sefton Resources I ended with Chairman Jim Ellerton suggesting that he had a cunning plan: buy a worthless Kansas oilfield for peanuts, spend millions on it and claim that suddenly he had an asset of value in order to get away another fundraising. Knock me down with a feather, Sefton has today announced details of just such a plan. And its statement is, as ever, grossly misleading. This company is running out of cash fast and my target price remains 0.01p ( at best). The shares today are off again at 1.225p valuing the company at £4.87 million. Now to today’s news and why the statement is so misleading.

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3259 days ago

Amara Mining (formerly Cluff Gold) Q3 Results – On Track: shares very cheap -

I tipped Cluff Gold (CLF) in September 2011 at 96p on t1ps.com, the website I founded in 2000 and left three months ago. Like most AIM listed gold shares Cluff has taken a beating and the stock closed at 58.5p today after the release of third quarter numbers. To reflect a change of leadership the company has now changed its name to Amara Mining (AMA). That seems like a bit of wasteful corporate PR willy-waving to me but, ignoring that, it seems to me that the fundamentals look increasingly attractive for Cluff, sorry Amara, and that this is not reflected in the stock price. Here is why.

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3259 days ago

Ovoca Gold: Time to cut losses?

I recommended shares in AIM and Ireland listed Ovoca Gold (OVG) in my t1ps.com days (in this case in October 2010) at 30.75p. They rose to above 38p in December of that year but have consistently fallen back since – hitting 10p in June of this year. Currently trading at 12p, I apologise for a recommendation which has clearly not worked out to this point. Perhaps it is time to cut losses? Or is this a red hot penny share in the waiting?

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3259 days ago

Inland PLC vs. Paul Scott: Back Paul against greedy fat cat directors

Paul Scott is a smart investor and a good battler against boards which take the piss. Looming in his sights now is AIM listed property developer Inland (LSE:INL). The issue is boardroom pay versus shareholder return. And Scott is not wrong here. Inland is a good company but its directors Stephen Wicks and Nish Malde clearly have interests that are not aligned with those of shareholders. Let battle commence.

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3259 days ago

Kryso Resources: 134% ahead – time to sell?

I initially recommended shares in AIM-listed Kryso Resources (KYS) at 13.25p in December 2007 on t1ps.com the site I founded 12 years ago and edited until this September. Today shares in the company – which is currently developing its Pakrut gold project in Tajikistan towards production – trade at 31p so we are 134% ahead. Not bad. With exploration work continuing at Pakrut and other nearby targets, is it time to bank a gain?

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3259 days ago

EMED Mining $50 million financing secured – Very Good News Indeed

EMED (EMED) the AIM and TSX listed developer of a large copper mine in Spain has today announced that it has secured a $50 million financing and an offtake deal from commodities giant Red Kite. This is a monumental step forward for EMED and really is very good news indeed. Those of you who bought the shares on October 4th after I wrote this can thank me later: “EMED has been on the point of starting to build a huge copper mine in Spain for ages. But getting the consents needed seems harder than finding a 17 year old virgin in Romford. And EMED is still not there. Hence, having tipped the shares at 14.75p back in July 2007 and with the stock at 9.625p today I look like a bit of a schmucko. Apologies for that. However, I had a long chat with CEO Harry Adams this week and I sense that we are almost there and that now would be a good time to buy.“ I hope you did, the shares are now 11.625p. But they will go much higher and here is why.

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3259 days ago

Interquest – Director’s Dealing why bother?

I happen to think that shares in AIM listed IT recruitment business Interquest (LSE:ITQ) are cheap but today’s announcement on director dealing is one of those ones which asks the question? Why? What are you trying to say?

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3260 days ago

Ariana Resources: Drilling Update Good but not Good enough

I recommended AIM listed Turkey based gold mine developer Ariana Resources (AAU) on t1ps.com in August 2011 at 4.5p. The shares are now 1.425p and so clearly I have not exactly covered myself in glory. The company announced a detailed exploration update yesterday which was good but does not answer the question of whether this is a storming recovery play or just a dog to shoot. Here is why.

The exploration took place on Ariana’s Kepez West and Karakavak prospects, located along the Sindirgi Gold Corridor which also contains the Kiziltepe Sector of the Red Rabbit Gold Project.

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3260 days ago

Deluded Bulletin Board Moron of the Year – This could be a winner from the ADVFN Sefton board

Some posters on Bulletin Boards are so thick they would make the contestants on I’m a celebrity seem like a bunch of Nobel Prize winning economists. A company is obviously bust yet some buffoon manages to find reasons why its shares are cheap. Conspiracy theories abound. Amid the mind numbing stupidity you find the odd gem. Trying to pick out the BB moron of the year is an almost impossible task but here is a contender.

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3260 days ago

Adept Telecom: Up on my share tip but still cheap?

Shares in AdEPT Telecom (ADT), a leading independent provider of telecommunications voice and data services in the UK, were recommended on t1ps.com at 46p earlier this year, before my departure 12 years after founding the website. The shares currently trade at 53.5p – up 0.5p today following the announcement of results for the six months ended 30th September 2012. The following reviews the results and the investment case…

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3260 days ago

Petrel Resources – Valuation Not Justifiable

Apologies to my friends John Teeling and David Horgan who run AIM listed Irish oil explorer Petrel Resources (PET) but the valuation of your company is just not justifiable. At 19.375p the company is valued at £14.4 million. Even the house broker Northland gives a valuation range of 3.6p (base case) to 14p (maximum best case). The share price is simply far too high and here is why.

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3260 days ago

Orosur Mining: Bank a 66% gain or double up?

I recommended shares in AIM and Canada listed Orosur Mining (OMI) – which operates the only producing gold mine in Uruguay (San Gregorio) and has additional exploration acreage in Uruguay and Chile – in May 2010 at 24.25p on t1ps.com, the website I left in September 12 years after I founded it . The shares currently trade at 40.5p, though the current levels compare to highs of 91.5p hit in early 2011. Last month the company announced results for its first fiscal 2013 quarter (to 31st August 2012) and, noting that recently “the patience and confidence of shareholders with the company has been tried”, a statement on its forward strategy. In the following I review these announcements and the Orosur investment case from here.

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3260 days ago

Firestone Diamonds – Harsh but Fair Broker Note says it all

AIM Listed Firestone Diamonds (LSE:FDI) was a duff tip from me from my days at t1ps.com. Even when you average gain per tip over 12 years was 42.7% you have losers and this was one of them. I advised bailing out at 6.125p on October 25th. Results are out today, the shares are still 6.125p but they are, I am afraid an open invitation to sell. A piece of broker research from the excellent Roger Bade at Whitman Howard says it all:

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3261 days ago

InterQuest - More positive News

I wrote a bullish update last week on specialist IT recruitment group, InterQuest (ITQ) with the shares at 44p. It is thus pleasing to see them currently 3.4% ahead today at 45.5p following an announcement of an out of court settlement with the vendors of Contract Connections Ltd, which InterQuest acquired in June 2011 for £4 million. The following explains the situation and why shares in InterQuest continue to look to represent a decent long-term play.

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3261 days ago

Printing.com Results: Buy for 8% yield?

I originally recommended shares in AIM-listed printing company Printing.com (PDC) in February 2008 at 42p on t1ps.com, the website I founded 12 years ago and left this September. It has subsequently paid out 16p per share in dividends ( with another 1.05p pending) but with its key markets in the UK, Ireland and continental Europe facing difficult economic times, the shares currently trade at 32p. Overall we are thus just under 15% ahead on this one after four and a half years. Not great but no disgrace. The company has today released results for the six months ended 30th September 2012 and in the following I review these and what they say about the current investment case.

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3261 days ago

Downfall Video - the Sefton Resources edition

I could not resist. I had a bit of trouble sleeping last night and the urge was just too strong. And so I have created my very own spoof Downfall Video – the Sefton Resources edition. Knowing full well that this will offend all sorts of folks, at least it has made me laugh and given me some pleasure. I hope that you enjoy it at least a bit.

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3264 days ago

Vatukoula Completes Placing – It hurts but the shares are cheap

Vatukoula Gold Mines (LSE:VGM) has today announced that it has completed its botched replacement placing to raise £6.6 million gross from Chinese investor Zhongrun International Mining Co. Ltd at 33p a pop. The shares are now 32.5p. I can understand why folks are giving up on this one. Numerous placings – including this rather botched one ( Zhongrun came into replace another Chinese outfit which did not stump up its promised shekels in a 51p placing) – and numerous project delays. But I would not give up. This was a bad share tip from my t1ps.com days (I am 35% down) but I’d buy more and here is why.

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3264 days ago

Sefton Resources October Data – Jim Ellerton over-eggs again – Cash now critical

AIM listed penny share dreadful oil producer Sefton Resources has today announced its output data from its Californian oilfields for October – 115 bopd. We shall await confirmation from DOGGR ( the state monitoring board) before inking that in as in the past Sefton’s numbers have been shown to be a tad optimistic. The statement from Chairman Jim Ellerton that accompanies it is worth a booker prize. The shares,1.4p today continue to be worth less than a Booker Prize – 0.01p if you are luck. The issue remains cash. Or lack of it.

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3264 days ago

Northern Petroleum Board Upgrade – A Step in the Right Direction

I tipped oil and gas producer and explorer Northern Petroleum on t1ps.com, the site I founded in 2000 and edited until this September at 13.75p. The shares raced ahead to almost 150p but have since declined to just 64.75p. But news out today suggests that the company is making a step in addressing one issue it has, next up we await drilling news from Guyane.

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3265 days ago

Minera IRL: a gold stock to buy or sell? -

I first recommended shares in AIM listed Latin America gold miner Minera IRL (MIRL) at 69p in May 2010 on t1ps.com, the site I founded in 2000 and left this September. Despite having the safety net of current production, the shares have unfortunately not escaped the negative sentiment towards the sector in recent times – and traded at 41p as recently as early September this year. They have recovered somewhat to currently trade at 50.25p but is there more to come? Earlier this week the company released results for its third quarter ended 30th September and here I take a look at those and assess the current investment case…

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3266 days ago

Interquest: Dog or Recovery Play?

My July 2006 recommendation on t1ps.com (the site I founded in 2000 and edited until this September) of shares in specialist IT recruitment group, InterQuest (LSE: ITQ) is not one which has covered me in glory. Having tipped the shares at 67.5p, they traded above 80p until economic conditions darkened in the second quarter of 2008. A low of 30.5p was hit in February 2009 and the shares again traded at sub 35p in August of this year. Having recovered a bit, to a current 44p, since I take a look here at the company’s results for the first half of 2012 and their implications on the current investment case…

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3267 days ago

Caza Oil & Gas: Share spike on drill success but buy or sell?

Shares in AIM and TSX listed Caza Oil & Gas (CAZA) have spiked 28.6% higher today to 18p valuing the company at £29.61 million. Supporters of this Texan oil play, urge me to look at Caza claiming that it will hit 25p before Christmas. But I am always nervous about oil companies operating in the US but listed here. So buy as a red hot penny share or sell as the good news is already discounted – which is it? I had a long chat with the company this afternoon and came to a conclusion. What would JR Ewing say?

The news today came from the company’s Caza Ridge horizontal Bone Spring well on its Copperline Prospect in Lea County, New Mexico. The company states:

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3267 days ago

Ceres Power – Do Not Get too Excited by RNS Today – Still almost certaintly worthless

On October 6th I explained why at 2.205p AIM listed fuel cell company Ceres Power (CWR) was almost certainly worthless. My target price then was 0p and although the shares are up by 42% today at 2.4p the target price remains 0p. The issue is cash. Or rather lack of it. I think the Bulletin Board loons and assorted green investors are well ahead of themselves and here is why.

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3267 days ago

Evil Knievil’s Biggest Short is ASOS: is he Right?

A good chat with bear raider Evil Knievil today throws up the fact that his biggest short position right now is online celebrity driven retailer ASOS (ASC) but also that he is looking at another stock that I have already written up as a slam dunk short – more on that later. Those who have followed the great bear will remember that Evil has consistently shorted ASOS ( betting against the lure of Stella McCartney, Kate Moss etc) and consistently got it wrong. His losses over the years on this one must be well into seven figures by now but undeterred he is at it again. But is he right?

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3268 days ago

1Spatial Confirms Contract Win – biggest in its history

AIM listed tech play 1Spatial (LSE: SPA) has today confirmed that it has won a new contract with Ordnance Survey Ireland (OSi) to provide it with a Geospatial Management Solution – the company had said that it had preferred bidder status on 17th October. But what is this worth? Rather annoyingly 1Spatial declines to put anything on the release. But I have had a brief chat with CEO Marcus Hanke on the matter.

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3268 days ago

Shanta Gold – Company Reaffirms Production Targets: Buy

Good news today from AIM Listed gold miner Shanta Gold (SHG) – it confirms that it is on track to hit production targets both for the fourth quarter of calendar 2012 but, far more importantly, for calendar 2013 and that will make it a hugely undervalued cash cow. At 18.875p the shares could, in my view, easily double over the next year – even without a surge in the gold price, which I still expect, and here is why.

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3269 days ago

Ariana Resources – Catch Up Lunch with CEO Kerim Sener

I recommended AIM listed Turkey based gold mine developer Ariana Resources (LSE:AAU) on t1ps.com in August 2011 at 4.5p. The shares are now 1.6p and so clearly I have not exactly covered myself in glory. I met up for lunch with CEO Kerim Sener last week for a catch up. Is this a busted flush or could it be a great recovery play for 2013. It is an interesting case study. There are three problems but three assets, let me explain

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3271 days ago

Silverdell – Still a buy?

AIM-listed Silverdell (SID), a provider of decommissioning and remediation services to high hazard and regulated environments, was recommended on t1ps.com at 12.75p in August, just before I departed t1ps in the following month more than 12 years after founding the site. After a ‘trading and strategic update’ last month, Silverdell shares currently trade at 13.25p. The following reviews that update and the investment proposition here…

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3271 days ago

Sefton Resources Does a Tony Blair as it pumps stock ahead of Death Spiral share issue

War criminal, intern exploiter and former Prime Minister Tony Blair used to take great delight in announcing the same event a number of times in order to “work the spin cycle.” AIM listed penny share dreadful oil explorer Sefton Resources (LSE: SER) is playing the same game with an RNS today designed to show momentum but which shows nothing of the sort. This stock is still virtually worthless – my target price is 0.01p – but let me explain what is going on here.

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3271 days ago

Hambledon Mining – Partial Cash offer at 2p: Accept

Clearly my advice to cut losses on struggling AIM listed gold miner Hambledon (HMB) was a tad premature. Today you have a chance to sell at 2p as a cash offer for 60% of the equity has been announced from African Resources. African is not African but Russian but take the offer anyway. Here is why.

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3271 days ago

Aureus Mining Flushed Out - $80 million fund raise underway

Yesterday I warned that Aureus Mining was going to have to raise stacks of cash. The deluge of upbeat RNS announcements told you as much. And I advised selling at 57.5p. This was met with stacks of Bulletin Board abuse from folks insistent that I did not know what I was talking about. I suggest scores on doors after 24 hours: TW 1 BB Morons Nil. As today the company has ‘fessed up saying it plans to raise $80 million via issuing new shares. For a company capitalised at £60 million ($95 million) that is a huge ask and there seem to be all sorts of risks here. I would almost be tempted to go short here. If I own the stock I would sell. Here is why.

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3272 days ago

1Spatial Interims – Wading Through the Spaghetti the shares are cheap

The month of October ended with AIM listed business technology company 1Spatial (LSE:SPA) releasing its numbers for the six months to 31st July which – as has become the norm here – are mangled by all sorts of one offs. Having urged people to buy the shares at 2p on September 12th, am I still rating the stock as a buy at 3.75p post the numbers? Can you see the wood for the trees?

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3272 days ago

Aureus Mining – A winner or a loser in the gold stakes?

AIM listed Aureus Mining (AUE) is a gold development and exploration company, currently mainly focused on progressing its New Liberty project – which it is targeting to become the first commercial gold mine in Liberia. I apologise for having timed my recommendation poorly here – recommending the shares at 84.5p in August 2011 on t1ps.com, during my 12 year stint there. Now trading at 57.25p, I review the investment case based on the informed view of where the best place to currently be in the gold sector is…

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3272 days ago

Vatukoula – New China Placing: is it time to junk?

Another day and another placing from AIM listed gold miner Vatukoula (VGM). The shares are down to 35p and given the convoluted circumstances of this placing I can understand why some are tempted to sell and move on. Having recommended the shares at 46.5p on t1ps.com, the site I founded 12 years ago and edited until September I am not best pleased. However I would not be selling, I’d be buying and here is why.

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3273 days ago

Pursuit Dynamics – When will the Fat Lady Sing?

AIM listed Pursuit Dynamics (PDX) has forever promised mammoth revenues and huge profits. It has never delivered. And as such the technology developer is looking to pass the hat around yet again. But as it admitted today, there is no certainty of success. If it raises cash this merely postpones the inevitable. But I suspect that is an if, and a big if to boot. As such this is farom from a red hot penny share. It looks like an obvious sell and here is why..

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3273 days ago

Centaur Media – Time to bank a gain? Or More to come?

I originally recommended shares in UK-focused business information, events and marketing services group, Centaur Media (LSE:CAU) in October 2009 at 44p on t1ps.com – the website I founded in my bedroom and edited until September 2012 ( delivering an average gain per share tip of 42.7%). But Centaur has been a rocky road – with the shares hitting highs of 73p in early 2011 then, as the UK economic environment bleakened, falling to lows of 28.5p in June of this year. Currently trading at 50.75p, in the following article I review the company’s results for its year ended 30th June 2012 – which were released on September 13th – and take a fresh look at the investment case. Is this a red hot penny share or have we run our course?

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3273 days ago

Hope For Norseman Gold – Oz Press Reports: Chinese Saviour by Christmas?

Shares in AIM and ASX listed Norseman Gold (NGL) remain suspended following it s decision to put its operating unit into administration – something it stated was (hopefully) temporary. Many folk have understandably written the shares off as worthless but they are, quite probably, wrong. Press reports from Australia suggest there is real hope and that the shares could be trading again by Christmas. Let me explain.

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3273 days ago

Sefton – Why did your Nomad Resign? The short case now unanswerable

AIM Listed oil producer Sefton Resources (SER) has made two announcements today. I shall turn to its operational guff later but I start with news that (yet again) it has changed its Nomad – its adviser on AIM matters. This is critical and I have exclusive news on this – this change was not entirely voluntary. For the avoidance of doubt these shares remain more or less worthless and at 1.65p are a stonking short. Target price 0.01p. At best. Now to the Nomad.

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3274 days ago

Archipelago Resources: Q3 results in line: buy at 62p – target price 95p plus

I first recommended AIM listed gold producer, Archipelago Resources (LSE:AR.) back in December 2004 at 27.5p on t1ps.com, the website I founded in my bedroom 12 years ago and edited until September this year. At 62p today it has not been a bad share tip. However third quarter ( to September 30th) numbers out today show that the company is very much on track for its planned ramp up in production at its flagship 95% owned Toka Tindung mine in Indonesia and I reckon that the shares are worth at least 95p. Here is why.

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3274 days ago

Nexus – Reverse Takeover: Hope at last?

AIM listed IT services group Nexus (NXS) has been one of my most disastrous tips of all time. I recommended the shares at 0.89p in December 2006 and many times since on t1ps.com the site I founded and edited for 12 years until September 2012. My average gain per tip over 12 years and 240 tips would have been more than 42.7% had it not been for this shocker. The shares are now at 0.105p following news today of a Reverse Takeover and thus the lifting of a suspension on the shares. I can only apologise for what was a piss-poor tip. In my defence, one of my last acts as a piss poor fund manager was to force out the old management team. I am now more convinced than ever that had I not done this, the company would today be bust. But where now? Could this be a red hot penny share for recovery or is it still a dog?

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3274 days ago

Skywest Bid from Virgin – What next?

Australian and South East Asia regional airline Skywest (LSE:SKYW) has announced that ASX-listed Virgin Australia has proposed, subject to conditions including regulatory and Skywest shareholder approval, an Australian$0.4688 (AUD$0.225 cash and 0.53 Virgin Australia shares) per Skywest share takeover offer. Those who followed my original share tip on this one from t1ps.com the website I edited for 12 years (but left in September) have thus more than doubled their money. But what to do now?

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3275 days ago

Hambledon Mining: a dog to shoot or a recovery play?

AIM listed gold producer Hambledon Mining (HMB) has not covered me in glory. Recommended at 3.25p in November 2008 on the site I founded and edited for 12 years until this September (t1ps.com) the shares now trade at 1.275p. Most mining juniors have not prospered (they raced ahead and then fell) but Hambledon has fared worst than most. This was a bad tip. I apologise. But what to do now? Call it a day and shoot the dog or is this a red hot penny share recovery play? I spoke to the company at length today

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3276 days ago

Mission Marketing: Time to bank chunky gains?

I recommended shares in UK marketing communications and advertising group Mission Marketing (LSE:TMMG) in February of this year at 19.125p on t1ps.com, the site I set up in my bedroom 12 years ago but left in September. At that stage I identified them as a value, recovery play as the company’s cash generation meant debt concerns continued to look to be overly-discounted in the valuation. As the market has gradually come to further appreciate this, the shares now trade at 30p. Not bad in just 8 months. But what now?

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3278 days ago

Anpario (Kiotech as was) – one for the cat litter?

I recommended shares in Anpario (ANP – Kiotech as was) back in August 2009 at the equivalent of 103.5p on t1ps.com. Today shares in this international supplier of natural feed additives which enhance the health and output of animals trade at 113.5p – up but not by much. The company is capitalised at £20.5 million. Results announced last month for the first half of calendar 2012 provide the platform for me to take a new look at the investment case…

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3278 days ago

How close is Sefton Resources to running out of cash?

I have addressed on numerous occasions the grotesque overvaluation of AIM listed oil producer Sefton Resources (SER) and its misleading RNS statements. I have addressed its inability to generate cash from operations. But now for the critical question: when does it run out of cash? I now seek to explain, give or take a few weeks, when that will be. This will not take long.

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3278 days ago

The Phony Phony Pharaoh and Sefton Resources

PrintTo give the Daily Mail credit it has now removed from its website the article suggesting that penny share dreadful oil producer and cash cow (for chairman Jim Ellerton but not for long suffering shareholders) Sefton Resources (LSE: SER) was producing 220 bopd from 20 wells on its Tapia field. We all know (and the Mail knows now as well) that the number is less than 100 bopd from a handful of wells. But the Mail has gone further.

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3279 days ago

Firestone Diamonds - sell

This has been a shockingly bad tip from me from my 12 years running t1ps.com. The shares have popped up today. And so is this still a red hot penny share?

AIM-listed diamond miner, Firestone Diamonds (FDI), has today announced that a definitive feasibility study on its 75% owned Liqhobong diamond project in Lesotho has determined a post-tax Net Present Value at an 8% discount rate of $335 million (£208 million). This is for a 1.2 million carat per annum open pit operation over a 15 year life of mine. Given, at a current 6.125p share price, Firestone is presently capitalised at just £33.5 million ( and has c£4million of debt as well), the shares ostensibly appear to offer strong value – but is this actually the case? In the following I explain why perhaps not.

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3279 days ago

Who is Playing the Press? Sefton and the Daily Mail

I have been a market reporter. I know how it works. Someone you know calls you with what seems like a good story. You run it. Your team is on the box that night. You file your article. Good job. But just occasionally you are being played. The question is by whom? And unless someone points out how you have been lied to you will trust that player again. So just to help Geoff Foster, the excellent market reporter at the Daily Mail: Geoff, my son, you were kippered yesterday on AIM listed penny dreadful oil stock Sefton Resources (LSE:SER). You may wish to put in a call today to see why.

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3280 days ago

Lombard Risk Management Interims – Still a buy at 10.5p (+ CEO Chat)

A long chat with Lombard Risk Management (LRM) CEO John Wisbey has finally come to an end. Interims today were as expected. The issue that I find hard is the company’s policy of capitalising R&D Spend. I shall discuss that in some detail below. I wonder if others quizzing him today on the site I ran for 12 years – t1ps.com – have focussed on this or have pulled their punches?

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3280 days ago

NetCall: Good but is it that good?

I first recommended shares in Netcall (NET) on t1ps.com, a provider of customer engagement software, at 13.75p in August 2006 – banking a 58% capital gain in September 2009 when I considered the 21.75p per share valuation had largely caught up with events. Come February 2011 the shares were trading at 19.25p and, with the company looking to have made strong operational progress in the meantime, I re-recommended the shares. Following results last month they now stand at a near five-year high at 29.75p. I thus consider that I have called this one pretty well but what now? Is this a red hot penny share?

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3280 days ago

Sefton – Al Fayed Excitement – Still worthless

Sefton (LSE:SER) groupies are terribly excited that Mohammed El Fayed has picked up 15 million shares (just over 3%) of their company. Er up to a point. And it makes no difference. The stock is worthless. My target remains 0.1p and it is a stonking short. Here is why.

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3281 days ago

Zoltav Resources – The Joke valuation starts to crumble: a classic short -

I have repeatedly warned that for all the Abramovich hype, AIM listed investment company Zoltav Resources (ZOL) enjoyed a joke valuation. It seems as if folks are starting to pick up on this and the shares have now slipped to 3p. But they are still 90% overvalued and are a slam dunk short down to a 0.25p target. Thos who think that this is a Russian red hot penny share are just mad. Here is why…

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3281 days ago

Goldplat – An Omission from my 5 Gold stocks to buy? Why?

Yesterday I listed 5 gold stocks that you really should buy if, like myself and Malcolm Burne, you were bullish on the gold price. I warned that there were dozens to sell as they would be toast within a year. This sector is a binary play. I am asked why was Goldplat (GDP), a stock I first flagged in the 12 years when I ran t1ps.com, not listed on the buy list? Is it a sell? Let me explain.

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3281 days ago

London Capital Group – High Risk Buy or One to Dodge?

AIM listed financial spread betting group London Capital Group (LCG) has issued a profits warning today and its shares have duly tanked by 10p to 52p, valuing the company at £27.6 million. Declaring an interest first, London Capital (like several other sensible enterprises) advertises on TomWinnifrith.com, I wonder if the market has over-reacted a tad. Net cash is, after all, £21.5 million (or was at 30th September). So is this a high risky buy? Or perhaps not.

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3281 days ago

Staffline: 210 Per Cent gain so far but there is more to come

I first recommended shares in AIM listed Staffline Group (LSE: STAF), a provider and manager of industrial workforces which operates from more than 190 locations in the UK, at 77.5p in March 2010 on t1ps.com . The payment of a 3.1p per share interim dividend on 9th November – as declared in the company’s results for the first half of calendar 2012 released last month – will take dividends received since the initial recommendation to 18.1p per share and the shares currently trade at 225.5p. So clearly this is no disaster – it has been a bit of a red hot penny share for me with a total gain of 210% so far. But what to do now?

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3282 days ago

Elektron – Not a Good tip from me, do we hang on?

initially recommended shares in Elektron Technology (LSE:EKT), a designer and manufacturer of precision engineered components for connectivity, instrumentation, monitoring and control, in April 2011 at 37.25p as the company looked be recovering well from the impacts of recession and customer de-stocking. The shares initially performed well for t1ps.com, the site I foundfed in my bedroom and ran for 12 years until this September,– hitting a high of 45p in the month following the recommendation. However, as macro economic progress has once again stalled so too has Elektron’s profit recovery – as most recently witnessed by results released in September for the six months to 31st July 2012. The shares are now 18.5p valuing Elektron at £22 million. I apologise for having made a bad call in my initial recommendation. What to do now? Is this a red hot penny share?

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3282 days ago

Sefton Resources; ‘fess up you mislead on September output - sell down to 0.1p

I have time and time again asked questions about the utterly misleading statements issued by AIM listed Sefton Resources (SER) about its output in California. It seems that the company just cannot help itself because we now have proof that what it said about September data was misleading. Is it time for another RNS – correction or does the Nomad to this worthless enterprise (Fox Davies) not care about the truth anymore?

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3283 days ago

Tom’s Video Postcard Number 11

Jeepers. I think I have got both the sound and light right this week. A bonus helping of chocolate pizza for me. I had to get the hang of it eventually. The nine minute video postcard is wide ranging and I only mention Sefton Resources (SER) once and even then only en passant. How is that for restraint?

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3284 days ago

Sefton Resources: Bullying not the answer, answers are the answer

During the past three months I have asked a series of questions of Jim Ellerton the chairman of AIM listed penny dreadful oil producer Sefton Resources (SER). He has failed to produce a satisfactory answer to any of them. I regard the shares, at 1.25p as woefully overvalued – my target is 0.1p. Sefton’s latest tactic is to waste shareholders cash on bullying its critics.

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3285 days ago

Jubilee Platinum – Time to Give Up? Or Double up?

I tipped Jubilee Platinum (JLP) at 17.75p back in 2003. It zoomed ahead to 60p plus. It is now 8.75p valuing it at c£28 million. Is it worth hanging on? One can build a credible bull case but also a bear case as I consider below. I interrupted the holiday of chairman Colin Bird to discuss this and my conclusion follows at the end.

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3285 days ago

Gable Holdings: Up, up and still more up to come!

I first recommended shares in Gable Holdings (LSE: GAH), a European non-life insurance company underwriting a range of specialist commercial sector policies, in July 2006 when the shares traded at 18.5p. This has been something of a slow burner – the shares having commenced 2012 trading at just above 22p. However, they have moved sharply higher since early summer to currently trade at 31.5p – a near high since my original recommendation. Now sitting on some meaningful gains here, the following takes a renewed look at the investment case.

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3285 days ago

Avanti Communications: Bull vs Bear

The communications policy of AIM listed satellite group Avanti Communications (AVN) is a shambles. That does not assist those of us who still believe in this company. Right now my old friend Lucian Miers, the Bard of the Boleyn, and my (struck off) accountant Simon Cawkwell (aka Evil Knievil) are short of the stock. Having first tipped the shares yonks ago at 116p I think that, at 279.5p the shares are remarkably cheap. But the bear case is worth examining. As such here goes…

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3286 days ago

Wessex Exploration vs Northern Petroleum – madness

Shares in both Wessex Exploration (WSX) and Northern Petroleum (NOP) have moved ahead sharply in recent days. We all know why these AIM listed oil explorers are in demand. Drilling is underway of the Zaedyus well in Guyane. This might well be a monster and both companies have a 1.25% stake in it. But the respective valuations are now insane.

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3286 days ago

Impellam – 750% ahead and more to come?

Today I give my moronic bulletin board critics – notably mad and bad Bob Burnard – the opportunity to comment on my September 2009 recommendation of shares in AIM listed staffing and outsourced support services company Impellam Group (LSE:IPEL). I first recommended shares in the company, which primarily operates in the UK and North America (although it has smaller operations in Australia, Ireland, New Zealand and mainland Europe), at 40p (a level they have not traded below since) – and they currently trade not too far off the highs since, at 340p. This represents a 750% capital gain in little more than three years – not too much of a disgrace I would argue. Now though the question is what to do from here? In the following I take a renewed look at the investment proposition…

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3286 days ago

Shanta Gold – Placing Complete, PI screwing all done – Now we Plebs can and should buy

And so the screwing of Private Investors in AIM listed gold miner Shanta Gold (LSE:SHG) is completed. The company has today announced that it has raised $35 million (£21.8 million) in its bookbuild placing announced yesterday at 17p. The new investors will own 38% of the equity. We plebs have been rogered, we feel sore but an objective look at the investment case still leaves the shares as a buy. Here is why.

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3287 days ago

Minoan: Godawful tip starting to come right big time

I need little reminding that I tipped AIM listed Minoan (MIN) at 87p back in January 2007. The shares are now 10.5p (even after some interesting news today). This has been a stinker but is now starting to come right and the shares really are very cheap indeed. And here is why.

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3287 days ago

Empresaria: average down?

I timed my original (June 2007) recommendation of shares in international recruitment group Empresaria (LSE:EMR) badly. This tip, at 169p has been an unmitigated failure and for that I apologise. The macro economic backdrop has not helped but there have also been clear company specific issues. The shares have recovered somewhat from late 2011 lows of 17.5p to currently trade at 23p – capitalising the company at £10.25 million. Last month the company announced results for the first six months of calender2012. Is it time to call it a day? I think not and here is why.

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3287 days ago

1Spatial new contract almost won - share price can double again

AIM listed tech stock 1Spatial (SPA) has been a bit of a star recovery play over the past couple of months and an announcement of a potential new contract win today has lifted the stock ( 2p just a month or so ago) to 4.125p, valuing the business at £14.45 million. But there is far more to go for – my target price remains at least 8p and here is why.

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3287 days ago

Shanta Gold – Private Investors Screwed Again But It is still a buy

AIM listed gold producer Shanta Gold (SHG) has announced that it will today raise a minimum $30 million (£18.6 million) via an institutional placing. An accelerated book build will take place today so we do not know the price but I reckon that it will be in the range of17-18p. Yes private investors are being screwed and the share price movement in the days leading up to today stinks like a mackerel’s rectum but the shares, at 17.125p valuing Shanta at £54 million) are still very attractive for the long term investor. Here is why

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3288 days ago

Northern Bear: A mistake – time to sell

Northern Bear (NTBR), a UK building services group, is a most disappointing recommendation from my past. I first recommended the shares at 71.5p in December 2008 and though they have recovered a bit from lows of 8p earlier this year, they currently trade at 11.75p having been buffeted by fears about the company’s balance sheet and its operating environment. I can only apologise for what was a duff tip. In the following I take a renewed look at the investment case.

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3289 days ago

Chamberlin: Take Profits on fears over earnings visibility

I first recommended shares in foundries and engineering company Chamberlin (LSE:CMH) on a website that I do not mention any more, back in November 2003 at 161.5p. Now at 187.5p, the bare stats show that this is one that has not exactly roared ahead. However, those who kept the faith – and averaged down aggressively as I advised – when the shares were trading at sub 40p in early 2009 are probably a bit happier. The current share price represents a more than 4½ year high and is a testimony to the focused modernisation work that has been undertaken within the company by its top notch turnaround CEO Tim Hair. But what does a trading statement issued today mean for the shares? This is my take…

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3289 days ago

Archipelago Resources: 129% ahead so far but still a buy at 63p – target (at least) 95p

I first recommended AIM listed gold producer, Archipelago Resources (AR.) back in December 2004 at 27.5p on a website that I do not mention and few read anymore. After publishing some pretty impressive drill results today which indicate real upside possibilities at its 95% owned flagship Toka Tindung mine in Indonesia the shares are 63p. But I reckon that they are worth at least 95p (probably more) and here is why.

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3289 days ago

Sefton Resources - I am now going for an outright kill - individual well data analysed

I am indebted to my pal Brokerman Daniel for the link to data on individual wells operated by AIM listed penny share oil producer Sefton Resources (SER) in California as it illustrates exactly why its assets are so utterly worthless. Read this data in conjunction with my most recent article and then think carefully about the issue of capex required to grow output.

And I should warn Sefton that I am not finished with it. I am now going for the kill and as such there is another article on its way later today. Pro tem the target price for the shares ( now 1.175p) is 0.1p. That target may be revised shortly but not upwards.

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3292 days ago

Range Resources – what on earth is the CEO saying?

I have been a bear of AIM listed penny share oil dreadful Range Resources (LSE:RRL) for some months. I remain a bear with the shares at 4.87p valuing the company at £114 million. But my attention is now drawn to a quite remarkable interview given by CEO Pater Landau with the blogger Brokerman Daniel. Dan is a good fellow but this stuff is extraordinary and makes me more bearish than ever. Dan and I disagree on this one and here is why.

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3292 days ago

Fiberweb - bank 37% gain and sell

I recommended shares in Fiberweb (LSE: FWEB) in August 2009 at 60p as the market looked to have overly discounted the company’s debt burden given its cash generation and I thought its markets close to the bottom. The company has subsequently sold the majority of its ‘hygiene nonwovens’ business and resultantly now has a net cash position. The shares currently trade at 70p, giving a market cap of £121.5 million, and, including dividends of 12.4p, I would argue that I have delivered a fairly decent return (37%). However, with macro economic recovery set to be gradual and drawn-out, the outlook in the company’s international specialty industrial and construction materials businesses is, I would argue, pretty uncertain. As such, there look to be more attractive plays on similar ratings elsewhere and so it is time to sell and move on. Here is why.

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3292 days ago

Reach4Entertainment – Bad Dog is Getting Better Daily: Speculative Buy?

On 21st September I wrote: Theatrical agency Reach4Entertainment (R4E) has been one of my worst tips ever. 81p in 2007 – when the company was called First Artist has become 3.5p today. My former colleagues at a site I shall not mention decided to shoot the dog after interims on 12th September. Unlike them I have spoken to chairman David Stoller and I think they are wrong. News out today very much starts to vindicate the writer who could be bothered to speak to the company and having had a quick pizza again with Stoller 10 days ago I am more convinced than ever ( with the shares now at 4.75p) that this may be a speculative buy. Here’s why.

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3293 days ago

Range, Sefton, Qihang etc – Revenue and FREE cashflow

You know my views on all three stocks. More on Range (LSE:RRL) later but it is still a sell with a 1.5p target after today’s news. Sefton (LSE SER) at 1.16p remains a sell down to 0.1p. At 13p Qihang Equipment (LSE: QIH) is also a sell with a target price of 0.1p. But I note BB comments about these penny share dreadfuls which just nag on about production levels and compare that to the market cap and insist that I have got it all wrong. Well here is why the BB morons need to rethink – and incidentally this applies to all companies.

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3294 days ago

Universe Group – Speculative Recovery Buy?

Universe Group (LSE: UNG), a developer and supplier of payment and on-line loyalty systems, is a long-running, and long-running disappointment of a, recommendation from my past. I apologise to those who have lost money in the shares over the years due to me. Management cocked up and I should have bailed years ago, having tipped the shares at 41p in 2001. I got it wrong and am sorry for that. However, the shares have recovered from lows of 1.25p at the start of this year to a current 2.75p (capitalising the company at £5.2 million). Could there be further recovery ahead? An analysis of the company’s results and statement for the first half of 2012, released last month, suggests there could be and this is why…

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3294 days ago

Avanti Communications – A Day to Buy as Results Go Down Badly (Evil Knievil wrong)

Shares in AIM listed satellite operator Avanti Communications (AVN) have slumped today by 62.75p to 286p after results for the year to June 30th 2012 were announced and were received poorly. Adding to Avanti’s misery bear raider Evil Knievil announced that he had gone short at 295p. He is wrong and this is a buying opportunity. I say this as someone who tipped the shares first at 116p in August 2004 and who has continually rated them as a buy at anything up to an all time high of almost £8. I still believe that the shares will in due course move sharply higher and my target price is £16.81. Here is why.

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3294 days ago

Sefton Resources IR Shindig – Jim Ellerton skewered, buggered and humiliated

Give him his dues, Jim Ellerton, chairman of AIM listed oil penny share dreadful Sefton Resources (LSE:SER) took his public skewering, buggering and abject humiliation with some grace. But, make no mistake, his IR Shindig at London’s Armourer’s Hall last night was utterly disastrous. He might find a few more suckers to buy his stock – some folks are so stupid that they deserve to lose money. But the admissions extracted, the accusations he could not answer and a presentation that is now, I gather on Sefton’s website, and which basically shows why this company is such a worthless POS left objective and experienced observers in no doubt as to where this is heading. Down. I summarise below the main skewerings of an event which has been captured on video which I may release in part shortly. For the avoidance of doubt my target price is 0.1p.

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3295 days ago

Chaarat Gold – Great Grades, Share Price All Wrong

I have not covered myself in glory with AIM listed gold soon to be producer Chaarat Gold ( CGH). I first tipped the shares at 45p in May 2010 and indeed gave them another bullish write up at 24.375p just a couple of weeks ago.

The shares are just 21.5p today valuing Chaarat at a mere £53.8 million. That is despite the company today releasing an incredibly encouraging set of drill results from its Tulkubash gold project in the Kyrgyz Republic. The shares are worth at least 48p and here is why.

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3295 days ago

Bond International – Sell

I recommended Bond International Software (LSE: BDI) on a website I now do not name at 73.5p in July 2009 in a belief that modest economic recovery would see sales and margins rebound from their then levels. The shares hit highs of nearly 90p later that year but subsequently suffered as economic recovery failed to emerge as originally hoped – hitting a low of 32.75p in January of this year. They have now recovered somewhat – to a current 52.5p – though I am unimpressed by recent results for the first half of 2012. I apologise for having called this one wrong. There are better homes for you cash than this provider of software for the international recruitment and human resources. I’d sell now and this is why…

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3296 days ago

Gotcha! Sefton Resources – The Grim Truth starts to emerge

IM listed oil producing penny share dreadful Sefton Resources (LSE: SER) has today issued an RNS which is (by its standards) half way to being accurate. Even so, it is pretty grim. The shares have plunged by 14.5% to a new all time low of 1.325p but I remain of the view that they are worth no more than a fraction of that. They are now 99% down from the IPO price a decade ago, during which time chairman Jim Ellerton has made millions of pounds from excessive boardroom fees. But the stock will fall again and again over the coming years as Sefton’s true predicament emerges. I shall explain below why this is a conviction sell.

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3296 days ago

Norseman Gold PLC – Not in Administration- Brief Explanation

I am bombarded with emails today insisting that Norseman Gold PLC (LSE:NGL) is in administration. It is not. I think I know where the confusion lies, let me explain.

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3298 days ago

Ceres Power – Target Price 0p.

Ceres Power (LSE:CWR) has been another AIM listed darling of the fuel cell/green pie in the sky sector. Over the past few years it has raised £65 million to fund its dreams but the dream is now a nightmare. There are some who think that this company still has £10 million and is worth something. They are wrong as I shall explain below. The shares have collapsed to 2.205p but my target price is 0p.

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3298 days ago

Shanta Gold – New Loan – What is going On? Still Dirt Cheap

AIM Listed gold producer Shanta (SHG) is in production and should be generating cash from its New Luika mine in Tanzania At June 30th it had $21 million in the kitty yet on October 5th it announced that it had secured a new $4 million loan facility from a director and was “in discussions with additional providers of working capital financing facilities to meet its short term working capital requirements during the ramp up phase of the New Luika Gold Mine.” What on earth is going on?

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3299 days ago

Sefton Resources: Half Price Pizza ahead of IR Event 9th October

As you may be aware I am not a great fan of AIM listed penny share dreadful oil and gas outfit Sefton Resources (LSE: SER). Its RNS statements are a disgraceful exercise in smoke and mirrors. While investors have lost 98.5% since its IPO as the shares now languish at 1.575p, Chairman Jim Ellerton has trousered millions of pounds over the years. After ten fund raisings in the past three years Sefton is still not generating cash (after bloated PLC costs). I doubt it ever will and frankly I still think the shares are still at least 80% overvalued but Jim reckons that all he needs to do is get the message across to investors. So I am here to help.There is no need for Jim to thank me I am just an all round nice guy. What are you doing on Tuesday 9th October and how would you like a half price pizza as a bonus?

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3300 days ago

EMED – down but far from out – Long Chat with CEO: Buy

AIM listed EMED (LSE:EMED) has been on the point of starting to build a huge copper mine in Spain for ages. But getting the consents needed seems harder than finding a 17 year old virgin in Romford. And EMED is still not there. Hence, having tipped the shares at 14.75p back in July 2007 and with the stock at 9.625p today I look like a bit of a schmucko. Apologies for that. However, I had a long chat with CEO Harry Adams this week and I sense that we are almost there and that now would be a good time to buy. Here is why.

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3300 days ago

Lombard Risk Management – Trading Ahead of Forecasts: Buy

AIM listed compliance and banking software group Lombard Risk Management (LSE:LRM) has this morning served up a pretty upbeat trading statement saying that first half ( to September 30th) numbers will be slightly ahead of expectations, that it has just won a major contract and has a strong pipeline. That is what we see. There is more to come. And here is why…

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3300 days ago

Northern Petroleum/Wessex – short delay on Guyane News ( and Tullow note)

Followers of AIM listed oil stocks Northern Petroleum (LSE:NOP) and Wessex Exploration (LSE:WSX) might have been expecting news from the second well to be drilled in Guyane in early November. I should warn them that it now looks likely to be late November. It does not change the story for Wessex or Northern much of an iota as I shall explain below, but update your calendars.

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3301 days ago

Norseman Gold – sue the board/advisors? Don’t be mad

I am contacted by a couple of angry Norseman Gold (LSE:NGL) shareholders asking if they can sue the company following today’s appalling news. It is bad, there is no getting away from it but the story is not played out in full. So, firstly

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3301 days ago

1Spatial – Mega Contract win – shares have doubled in 3 weeks ( will double again)

Today comes news from AIM listed tech stock 1Spatial (SPA) that it has secured a major new contract win and the shares have raced ahead to 4p on the news. But the gains are not over yet and here is why.

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3301 days ago

Norseman Gold – A total Disaster But NOT a write off although Administrator in (at subsidiary level)

AIM and ASX listed gold Miner Norseman Gold ( NGL) has been a truly disastrous tip from me (37p in July 2009). The shares are now suspended and will remain suspended for a good while as it has just put its operating unit into administration. It sounds as if it is end game but it is not. I cannot say it is good news ( it is bad news) but do not give up the ghost yet. This is why.

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3302 days ago

East West Resources ( Ambrian as was): sell

I tipped East West Resources (LSE:EWR) – the stock formerly known as Ambrian when it was a gold investment company called Golden Prospect at 5.25p back in October 2001. The shares peaked at c60p as the company became an investment bank. Today the stock is back at 11.375p. I was a total git for not bailing out much higher. A total bloody git. There has been the odd dividend along the way but I make no excuses. As things stand, today this one should be sold for a gain of 116% ( dividends would add another 40% or more) but this is still a piss poor result given what might have been. I am so cross. Here is why the shares should be sold even though the June 30th NAV was 17.8p per share

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3303 days ago

Goldplat: 46 Per Cent ahead but more to come at 16.75p

I tipped AIM listed gold producer Goldplat (LSE:GDP) at 11.5p in October 2011 and after the publication today of results for the year to 30th June I am now 56% ahead with the shares at 16.75p. Not bad. But there is far more to come. I have just come off the phone with the company’s Nominated Adviser and that has helped clarify my thoughts and I reckon that the shares should, within a year, be trading at 30p plus. And here is why…

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3305 days ago

Symphony Environmental: 65% down but it will bounce back

I have not covered myself in glory, in tipping AIM listed Symphony Environmental (LSE:SYM) at 10.25p in may 2010 as the shares are 65% down at 3.625p. Half calendar year numbers yesterday went down badly. But there are two reasons why this stock is potentially very cheap and should, in due course, race back well past 10.25p and beyond and this is why.

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3305 days ago

The Weekly Video - Edition 8

Hooray. Not headless and filmed in good light. I am getting the hang of this video malarkey. Filmed at Real man Pizza Company with the waiters looking on wondering what I am babbling on about, this is fun.

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3306 days ago

Zoltav Resources – Joke valuation, joke company – stonking short

I have noted before that the valuation of AIM listed investment company Zoltav Resources (LSE: ZOL) is a total joke. Results today suggest that other folks are starting to twig. I am aware that Roman Abramovich’s son is the largest shareholder so that might float your boat but this good ship is going down. The shares now trade at 3.275p, valuing Zoltav at £12.5 million. My target price was 0.5p but I am slashing that and here is why.

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3307 days ago

Chaarat Gold – Down but downright cheap

I tipped AIM listed gold mine developer Chaarat Gold (LSE:CGH) at 45p in May 2010. Standing at 24.375p after the publication today on half calendar year results I do not look too clever. Yet. But I had a long chat with the company today, notably with its Finance director Linda Naylor and these shares are very cheap indeed. Quite seriously they could well be worth £1 a share or more. And this is why.

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3307 days ago

Pan African Resources – 570 Per Cent ahead on this tip so far – more to come

I tipped AIM listed gold stock Pan African Resources (LSE:PAF) at 2.6785p back in November 2005. Long term investing pays off. Ignoring dividends, those who bought then are 570% ahead with the shares at 18p. That values Pan African at £260 million but having just had a long chat with CEO Jan Nelson I am convinced that there is more to come. And here’s why.

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3307 days ago

Qihang Equipment – another China sell

I have never written about this company before but interim results out today from Qihang Equipment (LSE:QIH)are pretty shocking and at 14.75p, the £8.56 million market capitalisation appears to be a total joke. Yup, this is another Chinese stock which brings no credit to AIM.

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3308 days ago

Vatukoula Gold Mines – Down but far from out

AIM listed Vatukoula Gold Mines (VGM) is not a tip that has covered me in glory. Yet. I tipped it at 46.5p in November 2008 and although it zoomed ahead thereafter, the shares now trade at 41p valuing it at £40 million. All gold juniors have taken a hammering in the past 18 months but Vatukoula has also failed to hit production targets and so has taken a stock specific hammering as well. But it has cash, is profitable and the current valuation is just crazy. This is a stock that could well double within a year and still be cheap. And this is why.

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3309 days ago

Lombard Risk Management – Could this be the year?

AIM listed Compliance software group Lombard Risk Management (LRM) has been a disappointing tip for me but could this be the year when it comes good? I think it might well be. I first tipped the shares back in January 2005 at 9.625p. Today they are 9.25p, valuing it at £23 million. But I can see good reason why they could at least double. And here is why.

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3309 days ago

Sefton Resources You couldn’t make it up… well they could - Utter Bullshit

Another day and another release from AIM listed oil and gas penny share dreadful Sefton Resources (SER) which is laden with optimism but tells you absolutely nothing. But it does at least appear that there is some movement on disclosure – i.e. it admits that the market was misled but it has not admitted to the big lie. The shares are up on the hype but remain a stonking short ahead of the next inevitable issue of equity to pay chairman Jim Ellerton’s monstrous fees

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3310 days ago

Ortac Resources – Attractive Risk Reward Gold Junior

Like all gold juniors Ortac Resources (OTC) has had a fairly miserable year in share price terms. But that does not reflect what has happened on the ground. I tipped this stock at 0.775p in September 2010 and at 0.605p today the company is valued at just £14 million. For reasons I shall explain below that presents an attractive entry point on a risk reward basis.

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3311 days ago

How much has chairman Jim Ellerton made from Sefton Resources?

You will be aware of my concerns about AIM listed Sefton Resources (SER) shares in which traded at 95p in 2001 and are 1.55p today. The company has yet to comment or issue legal proceedings about my article of Friday which invited it and its chairman Jim Ellerton to explain why successive RNS statements were not lies. This is a company that has raised equity by issuing shares 10 times in the past 3 years. Where does it all go? Have a guess.

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3313 days ago

Reach4Entertainment: Bad Dog or Good Dog?

Theatrical agency Reach4Entertainment (R4E) has been one of my worst tips ever. 81p in 2007 – when the company was called First Artist has become 3.5p today. My former colleagues at a site I shall not mention decided to shoot the dog after interims on 12th September. Unlike them I have spoken to chairman David Stoller and I think they are wrong. And here’s why.

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3313 days ago

Minoan – Better Late than Never: Buy

After years of waiting AIM listed Cretan property play/travel group Minoan (MIN) has finally got within spitting distance of getting planning consent for its Cave Sidero in Crete it announced today. Better late than never. Talking of which the news actually came out in the Greek press yesterday. Some subscription tipsheets will respond to the news. My twitter followers knew 24 hours ago as I tweeted out the link. Follow @tomwinnifrith to be ahead of the curve…

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3313 days ago

I invite Sefton Resources to sue me: Please explain why you have not told lies

The responsibility for this blog posting lies under contract with me and me alone and so in asking Sefton Resources PLC (SER), its chairman Jim Ellerton and its IR man Michael Green to explain why they have not told lies via RNS statement, I invite them to sue me personally if they feel I am being unfair. I shall see you in court and it will be my pleasure. Should Sefton and the two gentlemen mentioned above not take legal action investors can draw their own conclusions

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3314 days ago

Plastics Capital – Boring is Sexy: 56% upside

AIM listed Plastics Capital (PLA) cannot be described as a sexy stock. But it is a true value investment. I first tipped it at 40.5p in November 2010 (and was kicking myself for not tipping it earlier). Today the shares are at 66p valuing the company at £18.2 million. I would have thought that a fair 12 month target price is around 103p. Let me explain…

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3314 days ago

K3 Business Technology - FinnCap sees 48% upside

A couple of days ago I suggested to you that K3 Business Technology (KBT) was something of a nil brainer buy at 148.5p. I am pleased to receive a note from broker FinnCap this morning which suggests that my forecasts are pretty sensible. It rates the shares as a buy at 149p with a 220p target price – my own target price is 212p. Sorry to be so prudent.

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3314 days ago

Geong - Numbers Just Look Wrong

AIM listed China tech stock Geong (GNG) is at 5.875p valued at just £2.13 million and according to its AGM statement it has net cash of £2.2 million and it recorded a small profit last year (to March 31st 2012) of £400,000 ( down from £2.6 million) on sales of £9.7 million (£11.3 million). So it is cheap as chips? No. Its numbers look very odd indeed to me and I would not wish to own this stock at all.

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3315 days ago

Rethink Profits warning - buy

AIM listed recruitment group Rethink (RTG) has not covered me in glory to date. I tipped the shares at 9.125p in May 2011 and today, after a profits warning, they stand at 7p valuing the company at £6.7 million. Okay there have been a few dividends along the way but this is a valid chance for my cross-dressing critics to have a pop at me. But I have just had a quick drink with CEO Jon Butterfield (Floreat Floreat Schola Warwicensis) and I believe that the market has over-reacted and the shares are dirt cheap – this could be an excellent recovery play among the penny shares.

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3316 days ago

K3 Business Technology: Bid talks off - buying opportunity

Shares in AIM listed tech stock K3 Business Technology ( LSE:KBT ) are off sharply today on news that talks with potential bidders are finally – after what seems like an eternity – off. Results for the year to June 30th are also out today and are pretty damn impressive and thus, at 148.5p (valuing the company at £42.15 million) the shares are

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3317 days ago

Sefton Resources – Someone is misleading about output (August data now out): Sell

Another month goes by and yet again I ask “should you believe a word that AIM listed Sefton Resources (SER) says“?” Data out tonight makes me certain that there is a major issue here and thus, unless Sefton can show that the State of California is inventing production data, I regard the shares, at 1.5p, as a slam dunk sell.

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3317 days ago

Shanta Gold – Low Risk Very Cheap Gold Play

I first tipped AIM listed gold explorer and producer Shanta Gold (SHG) at 21.5p in July 2011 on the site I ran for 12 years until this September – t1ps.com. In my most recent performance stats (august 31st) it is in there at 20.5p but the shares are today trading at 29.25p and are still, very cheap. The Tanzanian based company is valued at £93 million, has cash and is now producing gold and material cashflows from its lead asset at Luika. I reckon that the stock is hugely undervalued. It really is a Red Hot Penny Share!

So what does Shanta own and what is it really worth?

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3317 days ago

My Fellow West Ham fan Ben Bernanke – The Weekly Video is Live

Like me Ben Bernanke is always blowing bubbles. It is just that he does not realise that they eventually fade and die. Recorded before today’s rather dull nil nil draw at Norwich (only highlight: Nolan not booked) the weekly video is back.

Recorded in the back garden of my father & step mother’s house, forgive the relaxed attire. Step mother Helen is very kindly doing a wash.

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3317 days ago

Intandem - Catch up with Gary Smith

Back in the last century there was a CEO who appeared on Show Me the Money and sat next to me. It was Gary Smith who now runs AIM listed film producer Intandem Films (IFM). Large numbers of viewers phoned in to ask if he was my big brother? There was a bit of a likeness. A million years later he is still not my brother. He still travels the country supporting Blackburn Rovers (hell is not being the CEO of an AIM company suffering enough?) and he is not only the CEO but a material shareholder in Intandem.

Gary and I do have quite a bit in common. Dashing good looks, taste in women, supporting piss poor soccer teams and conversation is always free flowing. Intandem is an AIM tiddler – at 1.875p the market cap is just £2.4 million. Given that Gary and his key staff own 30% I would be sorely tempted to take this private if I was him. Intandem has cash and does not need to raise any more. But Gary is a public markets man so he will stick it out.

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3317 days ago

Sell Falklands Oil & Gas after Loligo news - and Borders too!

AIM listed oil darling Falklands Oil & Gas (FOGL) has announced the results of its Loligo well and it is bad news for both the company and for others operating in the region such as Borders & Southern (BOR). Reaction from BB and penny share punters has been mixed – some are in love and cannot see or choose not to see the truth. Others write the area off altogether. As ever the truth lies somewhere in between.

I refer, as ever to twitter, to see what the punters say. And so one fellow writes

#BOR came in, #FOGL came in – with more to come from the #Falklands Southern Basin. For all those who held, Nice One !!

And another counters:

Loligo fogl is uncommercial TIGHT SAND so was LIZ a bloody disaster get out while you can I did warn fellow twitter this was not good.

As they say it takes two to make a market.

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3318 days ago

Skywest – Share Price Virgin on the very cheap indeed

The UK market has never really warmed to SkyWest (SKYW) – something for which there are understandable reasons. It is a stock that I have followed on a website whose name I do not mention (tipping it at 12.25p in December 2006). And so with the shares at 19.25p ( and having ponied up some decent dividends along the years) this has been no disaster. But it is not exactly a superstar. However, a tie up with Virgin will change all of that.

SkyWest currently has two main businesses. One is providing charter services for mining companies ferrying men and supplies out to mines in the middle of nowhere. The second is a near monopoly on certain small West Coast of Australia coastal passenger routes. The game changer is a deal with Virgin whereby SkyWest will build up its fleet to take onsell traffic from Virgin. That will be a game changer.

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3321 days ago

Sefton Resources – My Confusion Grows Big Time: Keep selling

I have noted before the curious way that AIM listed penny share dreadful Sefton Resources (SER) communicates with its investors. Having advised you to bail at 2p initially I reiterated my sell advice a couple of days ago with the shares at 1.58p after the company issued piss poor interims. But my confusion with the way this company keeps investors updated grows by the day.

I start with its California producing assets and with what production Sefton has historically delivered.

On 6th March 2012 Sefton announced “Currently Sefton is averaging approximately 140 bopd for the month of February (with production as high as 178 BOPD in the later part of the month).”

Well er… not exactly.

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3322 days ago

1Spatial – CEO Chat & Assessment

I met up with Marcus Hanke the CEO of red hot penny share tech stock 1Spatial (SPA) yesterday for a detailed catch up. This company – formerly known as Avisen – has been a tale of woe for investors. Not because it has screwed up operationally but because in share price terms the stock has not performed. I will address both issues in turn but at 2p, valuing the company at £7 million, the shares are a compelling buy.

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3323 days ago

Sefton Resources – yet more piss poor numbers and jam tomorrow

Oil producer Sefton Resources (SER) today announced its half year results which were – as is normally the case with this AIM listed penny share dreadful, pretty piss poor. A marginal increase in production and in the oil price meant that revenues for the six months to June 30th increased from $2.028 million to $2.283 million but since the cost of sales increased by more, the gross profit actually fell from $1.421 million to $1.338 million. What is the heck of pumping more oil if it cuts your profits?

After the predictably high central costs

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3325 days ago

Avanti Communications – Luxembourg Rumours

I have written about Avanti Communications (AVN) several times before. Shares in the AIM listed satellite operator, are in my view, very cheap at 348.5p. But they are volatile. The year low is 241.25p the year high is 419.25p – some range. And they can move pretty sharply on rumours or indeed downright falsehoods. And so to, a brief note on the latest rumour.

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3327 days ago

Northern Petroleum – Tosca well abandoned – almost irrelevant

AIM listed oil and gas producer and explorer Northern Petroleum (NOP) farmed out its La Tosca gas play in the Po valley. So its costs in drilling the well were trivial. It was announced today that the well has been abandoned as a write off. In the greater scheme of things this is pretty irrelevant. It might have been worth a couple of pence per share to Northern it is now worth zero pence in total.

In contrast

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3328 days ago

Range Resources Textual Analysis Part 2 - Keep selling

I noted earlier today how the way that AIM listed penny share oil explorer Range Resources (RRL) communicates with its investors is very odd indeed. My attention is now drawn to the way it has communicated with its investors over it operations in the Islamofascist hell hole that is Puntland. This really is curious.

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3328 days ago

Ortac Resources - No obvious insider dealing so bid spec in Telegraph wrong

The Daily Telegraph reports that shares in AIM listed gold exploration company Ortac Resources (OTC) rose yesterday on the back of bid speculation. Yeah right. A story pumped to a daft journalist by someone looking to make a turn or just a way to fill up a line. If there was real bid speculation or activity the stock would have risen by a heck of a lot than 0.03p. Oooh are you saying that there is insider dealing in London? Er yes.

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3328 days ago

ReThink Group CEO Chat -Looks a Buy at 8p

A good chat last night with Jon Butterfield, like me educated ( I use the word loosely in his case) at Warwick School, and now the CEO of AIM listed recruitment group ReThink (RTG) – a pretty solid penny share buy. The company reports its interims in mid September so there are certain things Jon could not say but what is in the public domain is pretty clear. The case is solid. But like all smaller AIM companies there is no firework scenario right now to drive a dramatic short term gain

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3329 days ago

Range Resources still a sell - odd use of language plus Sefton comment

I took a fair old beating on the Bulletin Boards after advising you that AIM listed penny share oil explorer Range Resources (RRL) was hugely overvalued at 4.86p following the abject failure of its drilling campaign in the Islamofascist hell hole that is Puntland. Report him to the regulators screamed the muppets. He must be helping Evil who is short (he was not) said others. I was not. But the shares initially traded up to 5.6p which delighted both my critics who argued that I could not tip a waiter but also those who were so in love with the stock that they decided to buy more shares.

One helpful fellow commentated on this blog that I should bury my head in the sand. At least if that was Puntland sand I would not get any oil in my hair but I am afraid that is not my style and so with the shares now back at 4.76p I make a couple of observations.

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3329 days ago

Plus Markets - What Future

A good lunch (salad natch) today with John French. He was chairman of the Plus Markets advisory group for many years and would, I suspect, happily undertake a similar role if the new owners of the junior market (ICAP) wished him to do so. He also chairs one Plus listed stock (Sutherland Health, in which I have a few shares). But what I wonder is the future of Plus?

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3330 days ago

Northern Petroleum – CEO Catch Up – Shares a strong buy

I met up with Derek Musgrove, CEO of AIM listed oil and gas producer and explorer Northern Petroleum (NOP) last night. He is an opinionated man but we disagree on little and so the conversation was wide ranging. But I guess you do not wish to here a detailed analysis of our predictions for West Ham this season (Musgrove is a lifelong hammer) but about Northern Petroleum. I am afraid that it is pretty much steady as she goes. No fireworks are likely in the short term but the stock is just ludicrously undervalued at 67.5p – giving it a market capitalisation of £64 million.

For starters Northern sits on a cash pile of c£20 million

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3330 days ago

I do not believe Wessex bid rumours - sell and switch into Northern Petroleum

It is a strange old world and I gather that some folks reckon that there is a bid on the way for AIM listed oil exploration penny share Wessex Exploration (WSX). I bet you 5000 Albanian Lekke that there is not and as such I would rate this stock, at 7.3p, a sell. If you want exposure to Guyane (the only real asset of note in Wessex) I would obtain it by buying AIM listed Northern Petroleum (NOP) at 67.5p.

On 26th March Wessex received a bid from Total at 10p a share. The company said that it was minded to accept. On 12th April Wessex said that having consulted some shareholders it had decided the offer was not good enough and walked. My sources tell me that Total was livid.

On 10th July Wessex managing director Frederik Dekker sold 5 million shares (leaving him holding c92 million shares) at 6p

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3332 days ago

1 or 2 Fundraising windows for Junior Resource stocks before Oblivion and another 1 million overtaken on twitter!

I see that twitter has delayed its planned IPO. Well there is a surprise. After the debacle of the Facebook (FB) flotation I cannot think that investor appetite for new media stock is exactly enormous. My other reason for showing lack of surprise is that I think that Twitter really does not wish to undergo the sort of metrics scrutiny of its user base that Facebook has suffered.

For what it is worth

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3335 days ago

Borders & Southern – I am not the only Sceptic

I noted here the other day that I had grave reservations about whether the Darwin condensate discovery made by AIM listed Falklands oil explorer Borders & Southern (BOR) was indeed quite the company maker that some folks thought it was. The shares were, at that stage 32.5p. Today they are 24.25p.

Apparently there is bad weather in the South Atlantic which some folks think will delay drilling down there. Get used to it. The waters of Port Stanley will never be like those off the Costa del Sol. That is a given. It should not drive share prices. I do note, however, that a leading oil analyst has served up a note which rather echoes my sentiments of a few days ago.

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3335 days ago

Lighthouse – Chairman goes. Hooray. More changes still needed

The summer campaign to stop the chairman of AIM listed IFA Group Lighthouse (LGT) from taking the company private and then to have him booted out and replaced by former CEO Allan Rosengren has almost been won. Rather than face a second humiliation in two months at a forthcoming EGM called to boot him out, Hickey has resigned. That is a start. But not enough.

There is a new chairman from the existing board. Rosengren has not been called back yet. The whole board signed up to the appalling de-listing proposal

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3338 days ago

Range Resources Correction: Fair Price not 2.4p but 1.18p: Lucian Miers now shorting + Zoltav thoughts (sell)

Sincere apologies but thanks to a well known website beginning with A, I have been using the wrong issued share capital in calculating a valuation for AIM listed oil penny share Range Resources (RRL). There are not 1.129 billion shares in issue but 2.357 billion. Oh dear. This does nothing to alter the sell case I have expounded for some days except to make it more pronounced. I have revised the previous articles published to reflect this minor data error on a website beginning with A.

I stand by my conclusion that I would not buy this stock at any price until it agrees a new debt facility as it is almost out of cash. Moreover if that facility is agreed I would only buy at 0.75p or less in order to give me enough upside potential to justify the risk since my estimate of fair value falls – using the correct shares in issue – from 2.4p to 1.18p. Ouch.

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3349 days ago

Lighthouse Group – Almost There: chairman’s days numbered?

AIM Listed IFA group Lighthouse (LGT) is to be forced to hold a General Meeting to vote on proposals to boot out Chairman David Hickey and bring back ex CEO Allan Rosengren. This follows Hickey’s failed attempt to get Lighthouse delisted – a move I opposed bitterly.

Hickey has been a disaster for shareholders. With a small holding himself he is grossly overpaid and has allowed PLC costs to escalate badly rather than increasing the dividend as he should have done and could have done given that Lighthouse has stacks of cash and is profitable and cash generative. Rosengren will restore the balance.

At the GM for the delisting 46 million shares were cast Hickey’s way and 53 million against. 29 million shares did not vote. So do not assume that this is a shoe-in

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3350 days ago

Dolphin Capital : Article withdrawn

My recent article on AIM listed Dolphin Capital (DCI) has attracted a lengthy letter from the company’s heavyweight lawyers Mischon de Reya. As such the article has been withdrawn and the lawyers have demanded that I state the following, which I do:

“Our article entitled “Dolphin Capital – very cheap or very expensive,” published on 10 August 2012, has been withdrawn following a legal complaint. Dolphin has pointed out our piece was predicated on a number of false assumptions, and contained a number of factual errors.”

Ends.

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