355 days ago
I start with Malcom Stacey’s latest bout of insanity HERE. Then it is onto woke nonsense and boardroom quotas at Colin Bird’s African Pioneer (AFP), the great news from Fox Marble (FOX) and my thoughts, such as they are on Deutsche Bank buying Numis (NUM) for £410 million. Finally, tomorrow sees me back on a training walk for Rogue Bloggers for Woodlarks. To the 95% of you yet to donate, how about you hand over a tenner ( or more) HERE.
1471 days ago
I start with Bidstack (BIDS), my article of earlier, and questions about the threshold of honesty needed in an RNS Reach. Then it is onto Intu (INTU) and its imminent demise, just how useless are City analysts even the chap at Numis who finally realises the shares are worth 0p and what about the 2,500 staff.
1672 days ago
In today’s podcast I look at Numis (NUM), Sirius (SXX), Brady (BRY) and George Roach run POS Premier African Minerals (PREM). I also express my anger at the faux anger of those bastards in Westminster as they spout humbug.
1681 days ago
Jim Mellon says he loves listrening to my podcasts and has sent over a very interesting article following the pulled We Work IPO which I discuss at length. The into PureCircle (PURE) which Lucian has called brilliantly, notably here. Yesterday’s shock warning tells us so much about the disgraceful apathy of folks like Numis and PWC when evidence of aggressive accounting was there for all to see over many years. I discuss another company shown to be swmming with no trunks. It will not be the last.
1812 days ago
You have been warned so many times by myself about the uber dog Mirriad (MIRI) which listed on the AIM casino at 62p per share in December 2017. The shares are now 6.25p so shame on Nomad and broker Numis for this hound. Today we have calendar 2018 results and a warning that it needs a bailout placing within a year. I should cocoa.
1892 days ago
Until recently analyst Paul Richards was at Numis and was the City's Now 1 rated media analyst. Now he is at Dowgate and has just published a detailed note on Reach4Entertainment (R4E) after its placing and acquisition today. He reckons the shares should almost double from 1.29p to 2.4p. I own the shares and think his forecasts are light and thus so is the target price. Judge for yourself, the note is in full below.
1906 days ago
I start with my big moral dilemna - listeners do you have any advice? Then I look at another day of shame for AIM ref Maestrano (MNO) and, more particularly, Immotion (IMMO). I look at Gama Aviation (GMAA), Numis (NUM), Finncrap (FCAP), Greatland (GGP) - another Dave Lenigas twitter ramp heading south - and at Avanti Communications (AVN)
1971 days ago
FinnCrap (FCAP) has today listed on AIM having raised £3.75 million of new monies while insiders dumped £1.25 million of shares on mug punters. Unfortuanately for smug Sam Smith and the FinnCrap team a statement on current trading from Numis (NUM) shows just why FinnCrap rushed to get its own IPO away and why it should be avoided like the plague.
2040 days ago
Cynical Bear warned you that the 62p per share, £63 million, IPO of Mirriad Advertising (MIRI) would cause tears before bedtime. Obviously not for IP Group (IPO) which was able to justify its daft pre IPO investments in relation to that crackers listing price. Nor for Nomad and broker Numis or PR parasites Hudson Sandler which will have earned fat fees for the listing. Coke and hookers all round for the crony capitalists. But for anyone dumb enough to buy the stock since the IPO this has been a horror show. The shares are now just 30p mid, they have more than halved in ten months on the AIM Casino. So what’s today’s news? It is bad, natch.
3064 days ago
Top broker Numis has ceased its coverage of Plus500 (PLUS) with an incredibly damning note for its institutional clients, which just happens to have fallen into my possession. Steve Moore and myself have been bears of this stock for a while and we remain so. Now over to Numis which writes:
3094 days ago
I know that the news from Salamanca last week was big but this big? Big enough for Numis to up its target price for shares in Berkeley Energy (BKY) from 40p to 100p? The shares are now 26.5p? Really?
I think the shares are cheap but my target price is only 36p. But then I am not paid to act as corporate broker to this company. Numis is. The note is worth a read but 100p? Numis is surely 'avin' a bubble.
3647 days ago
The analysis of Iofina (IOF) by Numis Securities (a retained adviser to the AIM Cesspit posterboy) has been woeful. It became marginally less woeful on Friday but let me now explain a corporate hold.
For months Numis has been insisting that Iofina shares were worth 156p despite clear evidence that the company was missing target and running out of cash. Belatedly on Friday with the firm having issued a $5 million bond convertible at just 40p just two days after saying that it did not need any more cash, Numis slashed its target price from 156p to 47p.
It also downgraded its stance from “buy” to “hold”. This is what is known as a corporate hold. I have no idea how the 47p target is arrived at. Presumably it is a bit like the 156p target. Given that the company now has $20 million of debt, cash net of trade payables/receivables of (perhaps) $5.5 million and burned $2 million a month in Q1, it is hard to say.
Iofina has said that it will cut costs which it needed to do. But the point
3751 days ago
Speciality pharmaceutical company, Alliance Pharma (APH) last week announced that “turnover for 2013 is expected to be £45.5m (2012: £44.9m) and pre-tax profits are expected to be in line with current market expectations” (expectations are for earnings per share of around 3.5p) as well as an acquisition of the rights to the thyroid product Irenat in Germany from subsidiaries of Bayer AG.
In the 12 months to October 2013, total sales of Irenat by Bayer were €0.8 million and the gross margin generated was €0.5 million – with the company emphasising that “the acquisition, our first in Germany, will be immediately earnings enhancing and fits well with our strategy of building Alliance's international sales”. No acquisition price was provided though house broker, Numis, estimates £1.2 million.
Also positively,
