1263 days ago
I am a crypto bear but am aware that some readers think I am a silly old dinosaur and disagree. They might be at least half right! If only to stimulate debate i bring you a detailed note from Fox Davies which appears to be a fellow member of the old dinosaur club.
1393 days ago
As a still loyal shareholder in Jubilee Metals (JLP), notwithstanding its penny share spiv Chairman, I take a keen interest in PGM prices where, my instinct, is that the outlook is very bright indeed. It is something I shall be chatting to Ross Norman about on video next week. Anyhow, in that context I thought you might enjoy this detailed note on PGM & Lithium prices from broker Fox Davies.
3349 days ago
There are numerous reasons why the AIM casino system of regulation based on Nomads fails miserable to protect investors from lying and fraudulent directors. But one major failing is what happens when a Nomad resigns and to demonstrate this I have got my hands on the letter sent by Fox Davies when it quit as Nomad to Sefton Resources (SER) in September 2012 and am delighted to share it with you. Private & Confidential it is marked. Well not any more chaps!
Over the weekend I published leaked emails which demonstrated the moral vacuum at lawyers Pinsent Masons (earning obscene fees acting for Sefton) but also the real reason that Fox Davies quit – quite simply it thought Sefton was misleading investors.
4119 days ago
Some of the Bulletin Board loons out there seem to think that the City is on the side of Sefton Resources (SER) in its libel battle with myself and Dan Levi. Au contraire…our big name backers grow by the day. And today came a fascinating endorsement which should make Sefton supporters as well as its uber expensive bully boy City lawyers Pinsent Masons think long and hard.
I posted an open letter via video this afternoon to the AIM regulation team calling on it to suspend Sefton shares pending a full investigation. Heading over to LinkedIN (Facebook for grown-ups) I see that this video has been “liked” by Tim Metcalfe.
I am not sure if I have ever met Mr. Metcalfe but I know full well who he is and he is incredibly well regarded in the Square Mile as a good and honest operator. He is currently joint CEO of the highly regarded City Corporate Finance house Zeus Capital. But until last year he was MD at Northland Partners. And that is where he knows Sefton from because Northland used to act for Sefton as its Nomad until the two parted company.
Why did the two firms part company? Hmmm.. The fact that Mr. Metcalfe likes my call to have Sefton shares suspended might just give you a hint. Fox Davies was Sefton’s next Nomad and it quit because it felt that Sefton was deliberately misleading investors. I already have the head of Fox Davies called as a witness in the forthcoming libel trial to testify to that. But perhaps there is a pattern emerging here? Do you think Mr. Metcalfe would make an interesting witness in the great libel trial?
Or perhaps now that the City is publically starting to back me the AIM Cesspit Regulation team will finally do something to end this farce once and for all and suspend the shares pending a full enquiry.
Tim – feel free to get in touch at any time.
4258 days ago
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...
4293 days ago
Landing on my desk on 18th February is a note on EMED (EMED) , the company planning to bring the Rio Tinto copper mine in Spain back to life, prepared by its house broker Fox Davies. The house or “shop” is meant to be closer than anyone to a quoted company and thus its take on a new technical report on Rio Tinto is interesting, if not entirely bullish.
The company announced that independent technical expert Behre Dolbear, has completed an updated NI 43-101 Technical Report on the Company’s Rio Tinto Copper Project. That is in the public domain. The bad news from the report comes in three forms:
4313 days ago
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
4355 days ago
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.
Whether you buy, sell or hold is your call. Have a very merry Christmas.
4378 days ago
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.
4382 days ago
I think that my views on fully listed Egyptian Gold miner Centamin (CEY) are well known. For me the great risk is a political one – I trust the Islamofascist Muslim Brotherhood rulers of Egypt less than I’d trust an 1970s Radio 1 DJ to do a spot of babysitting. But Fox Davies has another concern: the fuel subsidy.
4404 days ago
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.
4413 days ago
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?
