18 hours ago
142 days ago
With the largest package of mineral rights in southern Greenland, Amaroq Minerals (AMRQ) announced an equity raise of approximately £30 million “to accelerate development and exploration activities”. However, as suggested by the price of the fundraising despite a depressed market, the prospective accelerated development and exploration looks very exciting indeed.
144 days ago
I flagged this up in bearcast last week but the silence from Colin Bird’s Xtract Resources (XTR), London’s worst Nomad “Roland “fatty” Cornish and scumbag broker, the king of the spivs, Jon Bellis at bucket shop Novum is deafening. Shares in this perennial penny dreadful are now just 0.95p and sliding fast.
149 days ago
Well knock me down with a frigging feather. As flagged up in bearcast yesterday, Helium One (HE1) has undertaken a placing raising £4.7 million at 1.5p. As the prior placing around Christmas was at just 0.25p one should give praise where praise is due to CEO Lorna Blaisse but with respect to Lorna the statement stinks.
176 days ago
Late on Thursday night the final placing letters were received and Allenby wrapped up on a 3.75p £1.2 million placing for Chill Brands (CHLL) having missed its targets by a country mile. Within hours the press was reporting Government plans to ban disposable vapes, Chill’s product. The placing only actually settles on Wednesday 31st so should places be able to get it reversed and get their hard-earned back?
177 days ago
In this podcast I look at Chill Brands (CHLL) in light of THIS article, the difference between private and public company reported profits ref SkinBiotherapeutics (SBTX), NightCap (NGHT) and Julie Meyer’s sex toy, at Saga (SAGA) and and Superdry (SDRY)
177 days ago
For more than a week Chill Brands (CHLL) tried to raise between £3 and £4 million in a placing. On Thursday evening the final placing letters arrived with advisor and broker Allenby and the placing closed at £1.2 million. The placees were locked in, a disingenuous RNS was prepared, and folks went to bed. Within hours there was a bombshell report in the Daily Telegraph which other publications were able to verify as accurate. The company’s entire product range will soon be banned. Oddly there has been no RNS about this.
178 days ago
Chill Brands (CHLL) is this morning boasting of how it has managed to issue £2.4 million of new shares at 3.75p. As ever, this company is wholly disingenuous. It is almost as if it and its disgraced adviser Allenby, of NightCap (NGHT) infamy, gets a strange sort of sexual pleasure from misleading investors and has become addicted to it.
198 days ago
Tern (TERN) has announced a placing raising a paltry £400,000 and at just 2p – the shares closed yesterday at 2.875p and were well above 3p just five days ago. Natch the company misleads with its excuses, this is just a sticking plaster which postpones death by just a few months. It’s ouzo on cornflakes time for this website, for the chatroom warriors who knew better it is another wake up call.
207 days ago
Versarien (VRS) should be demanding a refund from the expensive turnaround specialists” brought in last March: since then the shares have collapsed from 2.5p to just 0.09p as today, as almost exactly predicted in bearcast yesterday, call me mystic fecking Meg, a placing has been announced at just 0.08p. and if you think this is bad, wait for the next placing which will not be long.
218 days ago
I start by reiterating that there is no “house view” on this website and why I disagreed with Gary on Bushveld Minerals (BMN). Then it is onto Microsaic (MSYS), its past and future, the bull and bear case and why I passed on the placing.
218 days ago
The $2.5million placing at 0.15p by Canadian Overseas Petroleum (COPL) has now gone ahead. Death spiral provider Anavio is not investing it is merely putting up some cash to allow it to forward sell and convert as much of its outstanding convertible loan notes as possible before Canadian goes bust. Lucian Miers says, do the maths….
219 days ago
In today’s bearcast I discuss Optibiotix (OPTI), Bushveld Minerals (BMN), Diversified Energy (DEC), Audioboom (BOOM) impoverishing poor Gary Newman as is Jadestone Energy (JSE), Canadian Overseas Petroleum (COPL) and Chill Brands (CHLL) and the looming placing.
220 days ago
On 5 December 2023 Bushveld Minerals (BMN) announced via RNS an $18.4 million fundraise at 2.25p, a 33.3% premium to the then share price. The question I ask is did that RNS contain an outright lie?
222 days ago
To me UK Oil & Gas (UKOG) doing a discounted placing to keep the lights on is like bears shitting in the woods, the Pope being a Catholic or Jeremy Corbyn praising his friends at Hamas. It is just what happens and so a raise of £750,000 at just 0.2p today should cause no surprises. But then again it is worth winding back a year to see the weasel worlds of both Lyin’ Steve Sanderson and the national treasure and lovable old rogue – who I hope is still off the fags – that is Mr David Lenigas.
224 days ago
Devout Christian Matt Lofgran always likes to say that he rescued Nostra Terra Oil & Gas (NTOG) when he took over in 2009. It was as if Jesus had saved the disciples as the storm raged on the sea of Galilee where their boat was sailing (Mark 4, 3-41). But the reality is that anyone who bought the shares when the great rescuer took over as CEO has now lost 99.8% of their money while Lofgran has made millions in remuneration. You have to pay for talent don’t you? Would it not have been better just to put the company into administration in 2009, to have avoided numerous bailout placings more good money going after bad?
225 days ago
I do hope that the FCA is, as I urged the other day, investigating comments made in the past ten days by Wildcat Petroleum (WCAT) chairman Mandhir Singh in private telegram groups. It should be. Meanwhile as rumours swirl of yet another heavily discounted bailout placing, Wildcat has published its latest monthly newsletter.
243 days ago
I have never been a fan of N4 Pharma (N4P), another sub scale POS on the AIM Sewer. Its Nomad is SP Angel which is always a red flag and a sign to get out. The broking team are the scholars and gentlemen at Turner Pope and I wonder if they are working on a placing right now. They should be. The maths is not hard.
245 days ago
Jubilee Metals (JLP) has announced an upsized to £13 million placing at 5.5p per share to enable maintaining the investment into the expansion of its existing copper and chrome operations with “fast-tracking” its new waste rock project. Good news or not?
246 days ago
For months and months we morons who own shares in Red Rock Resources (RRR) have been told by our esteemed leader Andrew Bell that the sum of somewhere in the region of $7.5million was on its way from the DRC. The cheque is in the post. Except it’s not a cheque and it has not been posted.
268 days ago
Acquisitions to drive growth. Placings to fund losses. And yet more losses. The clues are there and, as young Steve Moore has warned you frequently, Crossword (CCS) is a share you really don’t need to own. 14 months ago there was a fund raise at 21.7p. Today after the latest warning the shares are just 8.5p. Ouch.
275 days ago
SkinBioTherapeutics (SBTX) has announced a placing and “retail offer” at 19p per share to raise, respectively, a minimum of £3 million and up to £0.25 million, with CEO Stuart Ashman stating this is needed “to help with the current commercialisation and development strategy of AxisBiotix in skin health, with our latest venture beginning in acne, as well as providing a stronger financial base to support our strategic partnering discussions around three of our other business pillars. The funding will also support us with working capital and strengthen our balance sheet”. Tom Winnifrith has applied for shares in the offer and we suggest you do too BUT Ashman is talking bollocks and we will be slashing our target price from 150p.
275 days ago
I know Tern (TERN) is running on vapours. You know it and Mr. Market knows it. And as such all that tern can do is issue a wholly meaningless update on its portfolio and hope that the fuckwits who invest in AIM dross buy the shares, pushing them higher and so allowing one last deeply discounted placing to get away, giving it a few more months to limp on. Today’s statement ended with an implausible claim about boss Al Sisto.
277 days ago
In this bonus Bearcast, I explain why I am cutting my target price materially for Skinbiotherapeutics (SBTX) but still see this as a potential five bagger. I am furious with Stuart Ashman who is greedy and has not delivered. And I think the company’s broker, Cavendish, has a lot of questions to answer. I warn you that Matthew’s Dog and Catriona will love this podcast.
281 days ago
I have been involved with the stockmarket for 33 years. I have done almost every job going: analyst, CEO, fund manager – crap one – even, don’t laugh, compliance officer so I get really fucked off when folks lecture me about what the rules are, especially when they clearly don’t know them themselves. I really do not like being patronized and that brings me to Stuart Ashman and Skinbiotherapeutics (SBTX) where I am, of course, a loyal shareholder.
283 days ago
The maths here is so simple that my cat could do the sums. As at 28 February Cellular Goods (CBX) had net cash of £2.93 million. Its revenues remain almost zero and its cost base had been slashed to c£3 million. However, the company then did a quasi related party share purchase of King Tide which wants to cultivate seaweed to capture carbon and save the planet. We were promised that this company would have its first revenues by Christmas but there is no sign of that so instead it is adding to the cashburn. Come on you can do the maths….
286 days ago
Shorter Tim Kempster says that by his sums Harland & Wolff (HARL) runs out of money either in December or early January. My analysis on this website has been permanently bearish and I agree with Tim. And in that vein I see that the shares are weaker today, at 13.5p having been pumped in recent weeks by ramptastic announcements. I also see that…
291 days ago
That noise is two Christmas puddings which I am steaming. It being almost 2024 is relevant to shares as I discuss. I look at Genflow Biosciences (GENF) – target 0p – MGC Pharmaceuticals (MXC) – target 0p, Versarien (VRS) – target 0.1p first stop after a placing before Advent at that level, then 0p next year – Deepverge (DVRG) – target 0p – Global Petroleum (GBP) – target 0p – and Trainline(TRN) – target more than 0p but lower than today’s 288p.
294 days ago
Folks who have never run a company perhaps might not understand that changing your cost base, that is something largely achieved by sacking folks cannot be achieved just like that. By the time you have gone through a consultation process, following the letter of the law and then paid off the folks you are sacking you should assume that you will have paid out about half of your projected annual cost saving.
323 days ago
I am plagued with emails from fellow shareholders in Kefi Gold & Copper (KEFI). Majid who I told I was not going to respond to after he repeatedly sent email after email where he called out myself and Harry Adams as wrong un’s asks my view. FUCK OFF! You abuse me and then pretend you care what I think? Straight to spam. Another emails to say:
327 days ago
As Tern (TERN) shareholders decide whether or not they will support the proposed issue of 37.5 million new shares as approved at the General Meeting which, at say 5 pence per share (a modest discount to closing mid-price of 5.75 pence per share), would raise £1.875 million before expenses perhaps investors should consider the recent performance of the major investments.
370 days ago
Stifel Europe failed to get away a £10 million placing at 90p, no 80p, in mid June as I exposed HERE but, as I pointed out earlier this week HERE, Avacta (AVCT) MUST get away another placing before Easter in order to avoid its auditors flagging up a material uncertainty. Today we have news…
371 days ago
Back in June I revealed that Stifel was trying to raise £10 million at 90p then 80p for Avacta (AVCT). The company dissembled in its “refutation.” The fact is that despite having an outstanding £55 million death spiral in situ, Avacta needs to place, it is just a matter of when.
385 days ago
This seems pretty simple. Today, Powerhouse Energy (PHE) announced interims which were naturally utterly piss poor but covered in vast amounts of jam tomorrow. Its acting CEO Keith Riley also walked with immediate effect for “personal reasons.” Yet on 22 August through the offices of esteemed bucket shop broker Turner Pope, the company did a £1 million placing at 0.5p. hang on Henry… I have written to AIM Regulation
386 days ago
John Barr founded Mosman Oil & Gas (MSMN) and, alongside Andy Carroll inflicted this abomination on the stockmarket. It was a great penny share pump and promote in the early days The shares are now 0.024p meaning that those who bought at peak ramp just over nine years ago have now lost just a smidgeon under 99.9% of their cash. Today Barr, the executive chairman, has announced he is off as is one long serving gopher, oops I meant NED, John Young.
387 days ago
I shall celebrate my tenth wedding anniversary today with an extra lunchtime ouzo for Verditek (VDTK), a company whose shares were almost 20p at peak Old Mother Walters ramp just two years ago has announced a bailout funding at just 0.45p. Told y’all!
406 days ago
When a company opts to dilute its own shareholders more than it needs to you know that management is running the enterprise for itself rather than the business owners and this is a terrible red flag. That brings us to BlueJay Mining (JAY) which, 7 weeks after raising £1.3 million at 1.7p, on 23 August raised just £600,000 at a penny. It did not need to as I today reveal.
416 days ago
This is wretched, tawdry and desperate all at the same time. BlueJay Mining (JAY) is all that is wrong with the AIM sewer. It has survived as long as it has because folks like hearing sweet lies and are happy to ignore red flags, seas of them, in the belief that this “get rich quick” scheme will be different. Do you remember the glory days?
473 days ago
The blockchain to NFT to AI to whatever bandwagon is next entity run by ex ADVFN boss Clem Chambers with well remunerated help from his sons, that is Online Blockchain (OBC), must surely be running on vapours. Finally it seems that investors are waking up to the lifestyle joke that this is. Gone are the days when the shares were pumped by Clem’s pals allowing a placing at 100p. The shares are now just 13p.
478 days ago
I start with a housekeeping announcement on the Probiotix video before turning to the woke economics lunacy that is Woman’s Hour. Then it is onto Chill Brands (CHLL), could it be another Dev Clever (DEV)?, Canadian Overseas Petroleum (COPL), Versarien (VRS) and finally Avacta (AVCT), is it trying to do another placing and the other reasons why its shares are such a strong sell.
485 days ago
Shares in this dreadful company were 2.25p with the company capitalized at £70 million on January 11 2022 when I published a, crammed with red flags, dossier. Bulletin Board critics and advisers said I had it all wrong. Today the shares have collapsed by another 55% to just 0.115p after a bailout placing and warning that the Fat Lady may have a gig. More ouzo for a once again vindicated sheriff who has warned folks so many times.
486 days ago
Just 1p! Yes you read that right. Gone are the days when Neill Ricketts was dumping shares at almost £2 and mug punters used to discuss whether fair value was £10 or £100 and how to get myself and Lucien Miers killed. That is in the past. Today Versarien (VRS) has raised just £650,000 gross to keep the lights on for another three months. But it is still screwed.
492 days ago
Oh dear, oh dear. Despite having raised £5 million so far this year, Scotgold (SGZ) today says it had just £620,000 cash as at June 30th and owes $500,000 with a fifth of that due as the first repayment due this week. This makes the #BBCScandal that the national broadcaster and protector of paedophiles told its viewers in late January that Scotgold had discovered new gold (when it hadn’t) to allow a pump and placing dump even more of a scandal. Today’s news is bleak.
497 days ago
Still trying to negotiate a death spiral in order to avoid a looming insolvency, hopefully being investigated by AIM Regulation for not flagging up revenue/cash issues before the last placing, you thought things could get no worse for cash guzzling Bidstack (BIDS)? Think again…
506 days ago
Following yesterday’s bombshell EXPOSE article HERE I have written to the Oxymorons at AIM Regulation about Bidstack (BIDS) asking for a full investigation into whether it duped punters ahead of last October’s £10 million placing and retail offer at 2p.
506 days ago
Yesterday Avacta (AVCT) and its Nomad Stifel deliberately misled investors about a placing it had had to abort after I revealed all on Saturday HERE. I have written to the Oxymorons at AIM Regulation pointing out that this is an active deceit and suggesting that both Stifel and Avacta should be sanctioned and forced to ‘fess up. I do so just to put this latest failing at the casino on the record, not in great hope that the Oxymorons will actually do anything. The letter is below
507 days ago
On Saturday, I revealed that Stifel was running a £10 million book build for Avacta (AVCT) at 90p HERE. On Sunday I reported that it might now be at as low as 80p HERE as the response had not been good. Today Avacta has dismissed the attempted placing as market speculation and says there is no imminent fund raise. It misleads. There is a partial fess…
507 days ago
I start with yesterday. I have rewritten all of the Woodlarks articles and hope that you will re-read as they now have a bit more colour and a few jokes and, in a couple of cases, now actually make sense. Thanks so much to all who have donated. You ALL have an open invite to the camp. If you have forgotten to sponsor my last walk you can do so HERE. Then I talk about Avacta (AVCT) its placing I exposed yesterday HERE (might it, in fact, be lower than 90p?) and the denial and stupidity of some of its shareholders. Then I point out that Nigel would have made more money selling all his gold and switching into pasta and cat food ( or even tins of baked beans) so ask can he really still view the yellow metal as a store of value? .
507 days ago
Despite already having a £55 million death spiral in place, my City source tells me that Avacta is working on yet another, naturally discounted, placing. The shares falling by 3p to a new year low of 99p on Friday in decent volumes is NOT as coincidence.
510 days ago
I am told it is a stock I am very bearish on and which already has a death spiral in place but who is it? I also cover Tingo (US:TIO), Powerhouse Energy (PHE) which also needs a placing Versarien (VRS), Genflow Biosciences (GENF) and Predator Oil & Gas (PRD). The Rogue Bloggers for Woodlarks have now raised £17,250 all in. Thanks to all who have donated, there is still time to do so HERE, please do!
514 days ago
Oi: Becks you old spoofer how is the placing going at Guild Esports (GILD)? You know the one that was “in progress” on February 1, four months ago? I only ask because your hitherto peer Gfinity says the esports market is not the place to be.
514 days ago
Zephyr (ZPHR), as I have noted many times, is the sort of stockmarket heroin addict which just needs fix after fix of new cash inflows. If it can’t get a placing away it does a “bridging loan”. Then it runs out of cash again and needs another placing. In November it boasted “while the current drilling programme remains amply funded through c.US$18.5 million of liquidity available as of 10 Nov 2022, projected medium term cash flows still appear sufficient to support exploitation of its existing inventory.” Now all the money’s gone and its placing time. Again.
520 days ago
Another after hours placing from Kefi Gold & Copper no doubt has many of you crossing Harry Adams off your Christmas card list. But I try to justify it, discuss what the fundamental value is, the upside and downside risks and conclude that with the shares at 0.84p and the Primary Bid offer at 0.7p you should take it up not to try and flip but to double or treble your money or more. If you are not a Primary Bid member and want to take the offer up, sign up HERE and this website will get a small payment to put towards the goat fund. I also mention Amaroq (AMRQ) in this podcast.
541 days ago
I start with domestic woes and legal opinion on the claims of the IRA man. In the main body of today’s podcast I look at Purplebricks (PURP) and the role of Neil Woodford and Link. I cover Microsaic (MSYS), Deepverge (DVRG), Pantheon Resources (PANR), Asimilar (ASLR), Argo Blockchain (ARB) – placing at 6p?. I also relay the thoughts of the world’s greatest living expert on musicMagpie (MMAG) and why it is doomed. If you hurry and book a seat at Sharestock – where less than a third of seats are still free - you can meet the expert, who was also a great Quindellologist – on September 23. You can book HERE
561 days ago
Scotgold (SGZ) has yet to comment on THESE LEAKED SPREADSHEETS which suggest that it misled the market about output at Cononish in January ahead of a £3 million placing at 40p. But there is now worse evidence of what it was up to ahead of that placing. I refer to the BBC article about a new vein appearing at the mine which saw the shares puffed up to 70p. I had assumed that the BBC was flying solo in bumming its readers.
564 days ago
I still own some of these shares as a reminder to myself of how bloody stupid I can be. Every time I look at the share price it is an act of self-flagellation, a self-administered punishment beating at the hands of Wishbone Gold (WSBN). Whack, whack, that is for being so bloody moronic! Today we have another statement which is so much bullshit. It uses a template much favoured by the best friend of Wishbone boss Richard Poulden, Mr David Lenigas.
581 days ago
In today’s podcast I look at Deepverge (DVRG), another triumph, Amigo (AMGO), Cineworld (CINE), the spoof at Genflow Biosciences (GENF), Wildcat Petroleum (WCAT) and Tern (TERN) where a statement is needed.
608 days ago
You can just smell it. All the signs are there and the company has stated that it will be placing before its year-end which is now just over three months away. At 40.75p, the market cap is £36.7 million and if you can short Genedrive (GDR) you should. So here’s why.
609 days ago
In today’s podcast I look at Optibiotix (OPTI), Eurasia Mining (EUA), Jubilee Metals (JLP), Caracal Gold (GCAT), British Honey (BHC), Canadian Overseas Petroleum (COPL), Genedrive (GDR) and Oxford Nanopore (ONT)
613 days ago
At 2.45 PM yesterday Chill Brands (CHLL) announced that it had raised £560,000 at 3.5p. It claims that this “followed the receipt of an unsolicited offer from the financial institution concerned.” Hmmm so at c6% of the enlarged equity we will see a Tr1 soon? There is more chance of Cheryl Cole wandering down my drive in her Birthday suit demanding my sole and undivided attention.
616 days ago
You want to know why Berenberg quit as joint broker yesterday as Versarien (VRS) also fessed up that Neill Ricketts was still a director earning £16,500 a month despite “resigning as CEO” a week ago? It will be when it discovered that, enabled by the bent journalism of Ian Cowie at the Sunday Times pumping the shares, SP Angel was doing a smash and grab deeply discounted placing to raise a paltry £318,000.
619 days ago
The funder of the lifestyle of disgraced, porcine CEO, Neill Ricketts, that is to say Versarien (VRS), will run out of cash and still have debts of almost £8 million by April or May. It has been knocked back on its big grant application to Innovate UK – as revealed here – and so must get a placing away PDQ otherwise the Fat Lady and the Fat Man will be singing a late Spring duet. Can you smell the desperation? For the second time in five days, we have an RNS Reach.
625 days ago
Well for starters, look at the last interims, do the maths on historic cashburn, commitments and year end cash and you know that UK Oil & Gas (UKOG) will run out of other folk’s moolah very soon. But there are other hints for the non-maths experts out there.
633 days ago
With the last placing just 21 days ago, serial AIM dog Vast Resources (VAST) has today warned that it will be doing another placing. This is a company that has done more placings over the years than I have had inappropriate thoughts about Cheryl Cole. Yes! That many! And that is one reason why its shares are 98% down over 16 years.
633 days ago
Another day and another ramptastic announcement from Guild Esports (GILD). Of course it is nothing news but that is not the point. As it tried so hard to hide from investors, until I flushed it out on January 31, the company is running on vapours and needs to do a placing pronto (indeed it lied to its auditors and said one was already underway to get audit sign off) to avoid a duet with the Fat Lady.
648 days ago
654 days ago
I start with news on ShareStock – we have now completed the speaker line-up and 50% of the seats for September 23 are now reserved – for details and to book your seat go HERE. Then it is Canadian Overseas (COPL), Nanoco (NANO), BSF Enterprises (BSFA) where its placing ahoy and a joke valuation, and then Caracal Gold (GCAT). Finally, I shall be wearing an Ireland shirt in a pub full of Welshmen tomorrow, make sure you all sing Delilah wherever you are.
659 days ago
You and I understand that a bridging loan is one that will be refinanced and is short term by nature. We need one to buy a house when our old one is yet to sell. So how does Zephyr Energy (ZPHR) define a bridging loan.
661 days ago
After decades as a penny share grifter, Colin Bird is a multi-millionaire. Unlike any of the other shareholders in the companies he manages. It is within that context that you should note a share purchase in Xtract Resources (XTR) announced today.
664 days ago
In today’s podcast I look at nanosynth (NNN) and why its RNS crimes do matter, Argo Blockchain (ARB), Kefi Gold & Copper (KEFI), Reach (RCH), Cellular Goods (CBX) and Colin Bird POS Tiger Royalties (TIR) where data today shows how a recent placing only postponed death.
672 days ago
With breathless excitement the BBC here in Wales has pumped out an exclusive story which has prompted some of the sheep shaggers to fill their boots with shares in Anglesey Mining (AYM) prompting a bit of a spike in the share price. But it is all bollocks. And a prelude to a deeply discounted placing. The sheep shaggers here in Cymru are going to get their fingers burned. Shame on the BBC for failing to do even basic research. Its article from one day ago is below.
674 days ago
I start with a bit about weather, snow rain and drought. Then gold vs bitcoin, Enwell (ENW), Ferrexpro (FXPO), Harland & Wolff (HAWL), Argo Blockchain (ARB), Powerhouse Energy (PHE) and Pantheon Resources (PANR) before ending with Vast Resources (VAST) where a placing at 0.1p is surely being attempted after today’s incomplete news.
696 days ago
These days he goes by the name Lord Ashbourne but I shall always know Edison’s mining analyst as the convicted felon Charlie Gibson. Anyhow yesterday he was not thrashing some peasant for being a dirty oik or driving while sloshed but instead penning a note on Kefi Gold & Copper (KEFI). Of course Kefi pays for this research but that makes its steer on a placing all the more relevant. No it is NOT doing one right now as I keep being told by folks who will not accept a slam dunk denial from ‘arry Adams.
704 days ago
Given that Versarien (VRS) is now running on vapours, the pointless creation of loathsome Neill Ricketts is desperate to pump its shares as hard as it can to get a bailout placing away. Yesterday we saw lovable oaf Craig from Big Brother 2001 roped in. Today we see the use of the local rag.
724 days ago
I start remembering a career moment of shame involving Colin Bird and that brings me to Xtract Resources (XTR) where for all Bird’s dissembling surely a placing is underway? I look at the joke company eEnergy (EAAS) and the disgraceful antics of Justin the Clown. I cover nanosynth (NNN) which I expect to go bust by New Year’s Day and Argo Blockchain (ARB) which I think is already bust. I explain how it can avoid paying its bills for a while. Then I look at “wonder stock” Atlantic Lithium (ALL), its £1 billion NPV and how robust that is, its management, the various red flags and the inevitability of a near term placing. There are bull points here as well as bear.
732 days ago
Even Stevie Wonder can see the writing on this wall. PowerHouse Energy (PHE) is now having to fund the building of its own waste to hydrogen plants having previously said others would do so, it burns c£2 million every half year running the company and it is spunking £1.3 million on a global Technology and Innovation centre. By next Spring it will be out of cash…
736 days ago
Such is the terrible track record of Applied Graphene Materials (AGM) – minus 97.8% from peak – and such is the severity of the bear market in small caps that what follows should not be that shocking but it is still shocking. Since last week Applied has been on a dog and pony show with its broker. The aim was to raise £3 million. However, the details are horrific:
745 days ago
Once upon a time, Yourgene (YGEN) was a growth stock, the sort of company where shoot the lights out sales increases justified a lofty multiple which might allow for yet another fund raise. How times have changed. Today’s trading update was piss poor and, whatever bearded boss Lynn Rees might say, there must be a very high chance of a 2023 placing, as I warned three weeks ago HERE.
752 days ago
Last year Vast Resources (VAST) had to complete an emergency and deeply discounted fund raise in October as without it the auditors argued the company was insolvent and so refused to sign off on the books. Even post placing they flagged up a material uncertainty. So what of 2022?
752 days ago
£10 million in a placing at 2p. Plus a broker offer raising up to £2.5 million more. Lovely Jubbly. Everybody connected with the POS Deepverge (DVRG) is happy, except shareholders who have, again, been royally screwed. As I oft predicted. So who are the winners on a day when Deepverge fessed up to yet another undeclared related party transaction involving Gerry “the arse” Brandon.
756 days ago
The mystery of the Earl of Abingdon remains and it is why I am late with the first of two podcasts today. Then onto Deepverge (DVRG) the firing of Gerry Brandon (real or spoof), the 100k screw by Mrs Brandon and the placing about which the company cannot but help tell a porky.
760 days ago
This is simply shocking. The proven reserves Wildcat Petroleum (WCAT) owns are zero. Nil. Rien. Yet in emails boss Mandhir Singh has been pinging out which have fallen into the hands of Winnileaks he is claiming that his company is “billion (sic) of barrels of oil”. And after a massive pump last week. Guess what….
763 days ago
Oh dear, oh dear, shares in Deepverge (DVRG) run by Gerry “the journalist trolling arse” Brandon have collapsed again today and are now just 2.25p bid, 2.375p mid. And to think that – as I exposed HERE – the company started its current bailout fund raise with Turner Pope trying to raise £9 million at 5p. Ooops. The arse assured us that the response from a roadshow had been positive but the share price today (off another 17%) suggests either frantic forward selling or that the placing is flopping altogether.
764 days ago
When not working out how to bankrupt me with a cunning Greek plan, the morons insisted that there was no placing coming from Avacta (AVCT). Well here we go, time to apologise morons. Today Avacta has raised £7 million at 95p and hopes that an open offer will bring in another £2 million and says “The Company consulted with a number of its major shareholders prior to the Placing and is pleased by the support it has received from both existing and new shareholders.”. I can reveal that is a big fat lie. Two folks who were made insiders havie confirmed that Avacta wanted to raise £15 million but could not. So to say it is “pleased” is just a lie. It gets worse.
766 days ago
On Avacta (AVCT) I ask the question. Then I look at 3 signs that we are in a real bear market mentioning, en passant, ADM Energy (ADME), Deepverge (DVRG), Colin Bird’s Tiger Royalties (TIR) and redemptions at OEICS..
776 days ago
If you do the maths, the Primary Bid flop for Tern (TERN) announced this morning is really bad news. The amount raised by Primary Bid and in a subscription is just not enough. It is a sticking plaster on a wound bleeding cash when a full tourniquet was needed. And it means that the countdown to the next placing is already underway.
779 days ago
I warned and I warned that this Mexican style fast food rollout would go badly and today shares in Tortilla Mexican Grill (MEX) have duly puked by 30% to 101p. It was just 362 days ago that this company joined the AIM sewer at 181p having raised £5 million for the company and £12 million for founders cashing in some of their nachos. Good call.
782 days ago
Avacta (AVCT) shares are off only 0.5p at 109.5p today despite some fairly piss poor half calendar year numbers as bulls were given two straws to clutch at: a sharp increase in sales and the lack of a bailout placing. Fear not if you are short: the denouement is only delayed and here is why.
783 days ago
The David Beckham deal with Guild eSports (GILD) always stank to high heaven as I pointed out at the time of the IPO while the deadwood press sucked the cock of the Beckham PR machine. On its IPO it raised £18 million but agreed that – irrespective of what sales it achieved – it would hand £15 million of that to Mr David Beckham in return for his work as a brand ambassador. Today, less than two years after that IPO at 5p, the deal has had to be scrapped in order to persuade investors to back a bailout fundraise to stave off bankruptcy.
784 days ago
Before today, during 16 years when various executives have troughed it on a material scale, shareholders in Vast Resources (VAST) have witnessed a 99.96% share price decline. Today it will get worse as there is another bailout placing to fund operational failure and fat cat largesse, including a CEO on £227,000 a year. Everything about this latest disaster stinks.
786 days ago
Sorry for the lack of material yesterday. It was Joshua’s birthday party. Today I look at Chris and Malcolm’s thoughts on staying in cash on the perceived threat of a windfall tax on big oilers and at the death spiral versus bucket shop debate. I apologise for an error on Friday in this regard and FWIW I think that in some cases death spirals are far better news than bucket shop placings and I explain why.
824 days ago
Today Predator Oil & Gas (PRD) has raised £3.3 million in a placing at 5.5p. This stinks and begs massive questions about share dealings by chairman Paul Griffiths. The FCA and regulators should be all over it.
824 days ago
In today’s bearcast I discuss Kirsty Allsop’s great macro call, Made.com’s (MADE) looming financial crisis (with a screen grab below from its own website telling you how bad it is), the oil price ( down 25% in two months and falling) and Canadian Overseas Petroleum (COPL) and why it is a zero in 2023.
825 days ago
You will remember that when the old auditor to Versarien (VRS), run by loathsome charlatan Neill Ricketts, walked, the new bean counter said that it would not have sufficient time to sign off on results to March 31 so Ricketts extended the year end to September 30. But the shares are today sliding (again), off 10% to 18p, as chickens prepare to come home to roost.
829 days ago
On 23 June 2022 Gerry “the arse” Brandon, a man who broke AIM Rules 10 and 11 before his last bailout placing last summer, served up calendar 2021 results noticeable for their prodigious cashburn but the most bullish of statements about the jam arriving tomorrow, or in fact this year.. How things can change.
830 days ago
I start with AMTD Digital, run by a man banned from operating in Hong Kong, whose US listed shares have zoomed ahead by 14,000% since its IPO a few weeks ago. It is now valued at more than Goldman Sachs. This is insanity writ large but it is risky betting against insanity. Then it is onto the stench of the Betahny Garner affair, Cellular Goods (CBX), Kanabo (KNB) and Oxford Cannabinoid (OCTP) where i discuss other clear signs that a bailout placing is being lined up. Then it is onto Online Blockchain (OBC) and the threat ADVFN (AFN) should be making against it. Finally I discuss La Willingham’s Nightcap (NGHT), its trading statement and the cash crisis looming this Autumn.
851 days ago
MGC Pharmaceuticals (MXC) is drowning in red flags, as I exposed HERE. Moreover, it is almost out of cash, as I noted HERE. Hence, it has today announced the seventh ramptastic RNS since May 27. Seven in six weeks is pretty good going, but the recent share slump – 2.25p six months ago, to 1.1p on May 27, to just 0.975p today – is even more telling.
861 days ago
Having insisted that it was on track to hit forecasts (which included an improved cash position), AO World (AO.) has today announced a £40 million institutional book build and Primary Bid Offer, at 43p – last night, the shares were 47p. So, should you consider an investment? Er…no.
874 days ago
Just how many times will mug punters fall for this spoofing? Last Thursday shares in Verditek (VDTK) traded at 1.3p. On Friday they soared to 1.6p. On Monday there was a contract announced and they roofed it to 2.5p. Today…
874 days ago
Oh dear, oh dear, this is truly awful and explains why results which normally come out late April came out on deadline day today. Shield Therapeutics (STX) is in a mess as I warned so often. Ouzo for me. Cabbage water for those who ignored my explicit warnings and trolled and abused me instead.
875 days ago
I am not suggesting anything inappropriate just making an analogy as I discuss Zephyr Energy (ZPHR). I then discuss Optibiotix (OPTI) and a chat with Steve O’Hara. If you want to spend a day with Steve over all day drink and home produced Welsh food you can of course do so HERE where, I am happy to say, that almost a third of the seats are already booked out. Then it is onto Oxford Biodynamics (OBD) and Shield Therapeutics (STX) – will its placing be at 5p or not at all?. Then onto Pennon (PNN), sewage and Feargal Sharkey. Finally Abingdon Diagnostics (ABDX) where good news today has seen the shares rocket but that only postpones the next bailout placing ( or death) until Advent.
877 days ago
Last year, AIM sewer poster boy, Deepverge (DVRG), did a placing at 30p. It had misled investors on trading, and its ghastly CEO, Gerry “the arse” Brandon, slated me as not understanding investment. Today, the shares are 10.5p, after awful finals in which, as I explain in this bonus podcast, the company again – by omission rather than act – materially misleads investors. If you own this stock, lube up; there is more pain coming your way.
884 days ago
You will remember: this is the company that lied in its very first RNS, claiming to have raised cash when it had not. It then engaged in spoofery, stating that it was going to help companies with imaginary oil reserves, and monetize those fictitious assets via crypto/blockchain technology; the shares subsequently raced up to 4p. Now, it is again trying an E&P reversal, but a cash crisis is looming. Do the math!
886 days ago
In today’s podcast, I discuss Argo Blockchain (ARB) and why, later today, I shall be wading through 34 miles of nettles. If you can, please donate to Rogue Bloggers for Woodlarks, HERE.
902 days ago
Versarien (VRS) shares have surged of late: last week, they lounged at 15p; yesterday, they reached 24p. This surge is all the more remarkable given the company’s May 12 warning: within a year, it could run out of money. My guess? The spike is driven by chatroom speculation and is, in effect, a concerted pre-placing ramp. In that vein, I have two questions for loathsome CEO, Neill Ricketts:
911 days ago
Oh dear, oh dear, we really must be in a bear market. Last July Petro Matad (MATD) raised $10million at 3.5p…
931 days ago
Dragon’s Den star, Sarah Willingham, cannot contain her excitement as she gushes about “further positive trading” in a Q3 statement, out today. She is, however, a bit shy on the record cashburn and looming cash crisis at Nightcap (NGHT), which means another bailout placing is imminent.
951 days ago
I start with Deliveroo (ROO), whose IPO was at 390p – a year later, the shares are at 106p. What went wrong, I ask, and what now for the shares? Then to two placings: Vast Resources (VAST) announced its placing on Monday; I discussed the one Canadian (COPL) has been working on since last Thursday, last night. It seems to be struggling, but I expect it will be announced by the company tomorrow. Both placings stink, and decent regulators would be all over them. I explain why.
954 days ago
I wrote several articles last week about how Canadian Overseas Petroleum (COPL) had mislead investors and was facing a cash crisis. Snake oil salesman CEO Arthur Millholland of Oilexco infamy responded with a denial and a claim that I did not know what I was talking about and was motivated by nefarious aims of self-enrichment. Well guess fucking what?
975 days ago
In today’s podcast I look in detail at Deepverge (DVRG) whose CEO Gerry Brandon is a 100% arse and whose most recent RNS is utterly deceptiive. I also look in detail at musicMagpie (MMAG) where a placing will be messy but is a slam dunk cert if the Fat Lady is not to make an appearance and at Cineworld (CINE) which remains a slam dunk short.
975 days ago
As explained HERE, sub scale investor in crap companies Tern (TERN) needs to get a placing away by April Fool’s day or it is in deep merde. Hence a desperate attempt to ramp the shares ahead of a visit to the bucket shops for the discounted bailout. Even Tern could not bring itself to make today’s release an RNS. It is an RNS Reach meaning that it is financially immaterial. You will be amazed just how immaterial it is. As such this is a major red flag that a discounted placing is imminent so if you are buying shares in the market today you better lube up.
986 days ago
As Deepverge (DVRG) burns cash and prepares for this year’s bailout placing, the journalist trolling arse of a CEO Gerry Brandon is playing his usual game of spoofing the morons who comprise his shareholder list and ramping the shares with announcements that are designed to mislead a group of investors with a collective IQ of less than that of a cheese sandwich. Last year Gerry the arse broke AIM Rule 11 with the pre-placing ramp, this year it is more nuanced spoof.
986 days ago
So what if women and children are being blown to shreds in Kiev. The “good” thing about that war is that it means we must stop using oil and gas produced by the evil Russians – we don’t use much anyway – and thus need to turn to UK Oil & Gas (UKOG) run by Lyin’ Steve Sanderson to bail us out. Talking of which, I wonder how the placing is going…
986 days ago
Parsley Box (MEAL) has served up unaudited 2021 numbers which are mouthwateringly awful and announced a £5.9 million placing and £1.1 million open offer which is not underwritten. The price of 20p is a small premium to yesterday’s close but a big discount to when FinnCrap started scuttling around the City with the begging bowl out.
1012 days ago
I mention briefly events at Omega Diagnostics (ODX) but that is covered largely in a seperate bearcast HERE. Then it is onto the new big covid test short Avacta (AVCT) and why our own esteemed PL is talking cock. I cover Anglesey Mining (AYM) and what its news today really means. Then a long look at Osirum (OSI). Obviously it is a worthless POS but what does its deeply discounted placing today mean for YOUR portfolio?
1012 days ago
A reliable source tells me that Omega Diagnostics (ODX) has completed a c£5 million placing at just 5p. And given how the morons who own this stock – which at 9.9p is capitalized at £17 million – will be royally diluted, there will also be an open offer at the same price to raise up to £2 million.
1012 days ago
I shall be recording a special podcast outside of the paywall later for shareholders in Omega Diagnostics (ODX) for they have been well and truly mugged, but not by me, and must be spitting nails this morning as it finally fesses that everything I have exposed on this website was true.
1028 days ago
As its CEO “was resigned” on 19 January Omega Diagnostics (ODX) poured cold water on the suggestion that it was about to do a bailout placing in a way that I said was grossly misleading HERE. Well knock me down with a feather.
1057 days ago
Wildcat Petroleum (WCAT) is the Standard Listed company that lied in its very first RNS exactly one year ago today. More importantly it is rapidly running out of cash, as I noted here, having failed to get anywhere close to executing an RTO as promised 12 months ago. It gets worse.
1066 days ago
The fraud that is Chill Brands (CHLL) is running out of cash fast with sales at levels that are almost statistically insignificant. Rather than update us all on that tale of woe there is another spoof. This is all part of an attempted ramp to get a deeply discounted bailout placing away as soon as is possible. Todays spoof is laughable. I offer a translation service
1066 days ago
I start with Bluebird Merchant Ventures (BMV) and the FCA. Who is being a moronic fucktard today? Then some very serious number crunching on Versarien (VRS) and its looming cash crisis as the death spiral from Lanstead starts to fail. Then on why Bidstack (BIDS) has offered its long suffering sharehoders a great selling opportunity today. And a few words and questions for Lyin’ Stever Sanderson at UK Oil & Gas (UKOG) – placing ahoy!
1066 days ago
UK Oil & Gas (UKOG) needs to get a placing away by St Valentine’s Day or it is deep in the merde as I explained HERE. No institution will touch this crock run by Lyin’ Steve Sanderson so the next bailout placing, like all the others, is a bucket shop special which is why Pinocchio is ramping his arse off with spoof RNS after spoof RNS to try to get private investors buying the shares ahead of a placing at a big discount to the City spivs. Yesterday’s spoof RNS was a green one — today Lyin’ Steve spoofs with a share purchase.
1068 days ago
Shares in UK Oil & Gas (UKOG) now change hands at less than 0.1p. At peak Leni-ramp, less than five years ago they were just under 9p. CEO Lyin’ Steve Sanderson has trousered a total package of in excess of £3million during those five years when mug punters have lost more than 98% of their money. But I guess you have to reward talent don’t you.
1071 days ago
Having raised £4 million gross at 18.8 pence per share on 13 July 2021, the Bulletin Board Morons, although feeling somewhat sore given that the Tern (TERN) share price was 12.5 pence bid price at the close of business yesterday, might be consoling themselves thinking that, at least, the jam tomorrow specialists, won’t be asking for any more cash for some time. Sadly, that isn’t the case and I demonstrate below why they will very shortly be asked to stump yet more cash to feed the greedy board and its portfolio of loss making and cash guzzling investments.
1097 days ago
The curse of former Tory MP, Tony Baldry of 3DM infamy just will not go away. When oily Tony joins a company, he will make a packet and the shares will tank. That is one of my golden rules of investing and slimy Tony’s record in this respect is unblemished. So to the latest warning from Westminster (WSG), a turd which Tony tries, and fails, to polish.
1099 days ago
In August, McColls (MCLS) raised £33 million gross in a placing and open offer. Natch the crony capitalsts snaffled almost £3 million of that in fees which is perfectly understandable. FFS: Do you know what inflation is running at for upper class hookers and pure Charlie? Today there was dismal profits warning which begs the question of whether another bailout will be needed. Let’s do the maths.
1099 days ago
As you may recall, the business model of Vox Markets is that companies pay £15,000 a year to get interviewed by Justin the Clown who then asks the CEO whether he prefers Hob Nobs or Jaffa Cakes and whether his schlonger is ginormous or merely massive. The sort of AIM and Standard Listed companies that sign up, hope that such interviews can move the share price so allowing the next bailout placing. Maybe those companies have finally worked out that nobody takes the Clown seriuously and this business model is finally being rumbled. I see interesting filings at Companies House.
1141 days ago
I should have mentioned this in bearcast yesterday, the maths is clear and unchallengeable. Abingdon Health (ABDX), a company I warned you about at IPO as it was insolvent and the valuation absurd, is pumping its stock via the yellow journalists on the Daily Mail and the Telegraph ahead of a bailout placing. You know the score: mug punters overpay in the secondary market ahead of a placing at a vast discount to fund managers.
1141 days ago
It has been three months and ten days since places in a £10 million offering at 30p from AIM listed Deepverge (DVRG) got their stock. At mid they are now 25% down with the shares at 22.5p. Folks who took part in the placing were misled by the company as to its trading position as it breached AIM Rule 11. I have again written to AIM Regulation demanding that formal action be taken. That letter is below. Meanwhile should punters hang on?
1154 days ago
Yes, you read that correctly, the US ADR placing of Argo Blockchain (ARB) involved ELEVEN different brokers. Jefferies, Barclays , Canaccord Genuity, Stifel, GMP, Compass Point, D.A. Davidson & Co, Ladenburg Thalmann, Roth Capital Partners, finnCap andTennyson Securities are the team batting for Argo and will no doubt boast that they raised £82.4 million having targeted just £75 million. But…
1154 days ago
I have an update on the Union Jack (UJO) placing which I forced it to ‘fess up to last Friday and I can now reveal that worthless ramp Wildcat Petroleum (WCAT) is now seeking fresh equity at almost any price. At 1p, a £21 million market cap is about £21 million too high in my book. I also discuss Jubilee Metals (JLP) and Mark Slater and that links nicely to an IPO I am dodging and I explain why I am passing on what appeared a likeable and competent team. Finally a detailed look at perennial dog Mirriad (MIRI) whose shares are – despite slipping 10% today – still a stonking sell.
1157 days ago
The 26p per share £11 million placing on Monday by Eurasia Mining (EUA) may open up not one but two cans of worms and I have written to my chums at the FCA asking for an investigation on two counts. The letter is below:
1159 days ago
This is the market rumour. Shard rather than the listed broker the fraudster’s pals SP Angel is apparently running the book. I have given the company the opportunity to deny it but it seems to have declined that opportunity. Apparently much of the cash is for an acquisition the rest for general corporate purposes yak yak yak. Given the broker apparently in charge…
1163 days ago
Jubilee Metals (JLP) has been stressing how profitable it will be this year and how next year it will be so profitable that it could pay a dividend. Obviously with Colin Bird as chairman talk of profitability and dividends can only mean one thing. Yes….its another placing! Knock me down with a feather. But this one begs two big sets of questions:
1193 days ago
Back in April Vast Resources (VAST) managed to persuade shareholdcers to approve a 100-1 share consolidation by telling them a stack of blatant lies, lies which have been shown up with news today of yet another discounted placing.
1193 days ago
The proper way to respond to the Boatman dossier was via RNS but that needs regulatory sign off so the fellow who dumped millions of dollars worth of shares at 243p just a couple of weeks before Argo Blockchain (ARB) did a major placing at 200p recorded a video which you can see below. He covers the “report” but does not name it just in case folks actually are encouraged to go read it. It is a poor rebuttal.
1248 days ago
UK Oil & Gas (UKOG), the member of the minus 97% club run by Lyin’ Steve Sanderson, must be ready to pull the trigger on a bailout placing judging by news this week. Indeed there are suggestions that it is already looking to place 2 billion shares at 15% discount to the 0.2p bid so raising a gross £3.4 million, call it £3.1 million net. The pre dump ramp is from Turkey.
1268 days ago
Surely, before undertaking a bailout-discounted placing with bucket shops, a company has to come clean and admit that trading is way below what had been forecast? Those are the AIM Rules but Lyin’ James Draper and Bidstack (BIDS) do not give a rat’s arse about rules and neither, it seems, do the Oxymorons at AIM Regulation. On 22 April, house broker & Nomad Stifel slashed its 2021 and 2022 sales forecasts and upped its forecast losses for Bidstack but the company is yet to admit that trading has fallen off a cliff. But today with cash down to almost nothing and staring down the barrel of insolvency, surely it must be made to ‘fess up? Here are the maths:
1280 days ago
Eight days ago, Eurasia Mining (EUA) said that it was in talks with a credible party which had made an offer to buy essentially all of its assets and that if the deal went through it would become a cash shell after paying a “significant” dividend. Guess what? Today there is a $20 million placing. For such. Almost criminal. Spoofery to happen once is – on AIM – understandable, twice looks like carelessness.
1297 days ago
Yesterday I revealed how Sarah Willingham’s Nightcap (NGHT) was scrabbling around to raise money via a bucket shop placing. Let’s hope it manage to spend less on this fund raise than the AIM admission which had estimated costs of admission of £1 million to raise gross proceeds of £4 million, a ludicrous 25% of money raised.
1306 days ago
I am aware that a number of my colleagues view Panther Metals (PALM) shares as jolly cheap and they may well be right. However today’s news of a small placing just looks grubby and I don’t like the smell of it. Let me explain.
1319 days ago
As his loyal butler presents a plate of a fresh kipper, rushed by the overnight train from Arbroath, in front of Tory Toff David Willetts this morning, his Lordship must be pondering seriously whether Verditek (VDTK), the company he chairs, is, itself, at serious risk of becoming a dead herring. The company has survived since its 2017 IPO by generating not a cent of revenue but by announcing numerous contracts to ramp the shares ahead of bailout placings only to admit later that the contracts have come to nowt. But what now?
1326 days ago
The Deliveroo (ROO) IPO has bombed. Is this 2021’s version of lastminute.com in 2001? I ask and explain why I would not be interested. Then I look at Verditek (VDTK) and Bidstack (BIDS) and try to suggest a pricing and timing for their next bailout rescue placings. Now it is off to Wrexham tip with some old tyres because I lead that sort of exciting life.
1353 days ago
Last night, Argo Blockchain (ARB) announced a bookbuild and Primary Bid offer to raise £26.8 million at 200p. It was hugely oversubscribed. This sector is hot and both retail and institutional investors could not get enough. Good luck to them all.
1371 days ago
This podcast is mainly on the pot bubble looking at Cellular Goods, Kanabo (KNB), Path Investments (PATH) and the odd goings on at Voyager CBD and strange share price moves ahead of today’s placing and Zoetic (ZOE). I also look at Bluebird Merchant Ventures (BMV), Yourgene (YGEN) and naughty Manc scallywag Dan Levi. Finally a comment or two on Scancell (SCLP). The Path/Voyager screenshot is below.
1375 days ago
I am massively ahead on the Red Rock Resources (RRR) shares I bought at about the 0.625p offer price when we tipped the shares. Though initially frustrated by news that the company has raised another £1 million at 1.05p, I have considered the rationale and I have bought a few more shares today after recording an interview with Andrew Bell you can watch HERE. Here is why you should also buy the shares.
1375 days ago
Following its shocking lack of 2020 AND 2021 profits and disappearing cash warning on February 1, Bidstack (BIDS) is close to running on vapours with net current assets set to go negative by the end of May and cash set to run out before then. Oh dear. What to do? Ramp the shares ahead of a discounted placing from the Nomad and broker which signed off on the grossly misleading pre-Christmas trading statement, Stifel.
1394 days ago
Yesterday Verditek (VDTK) finally ‘fessed that its 2020 revenues would be almost nothing. That is despite it announcing on June 30 that its Italian operation was now “in production and is generating revenue” and the announcement of no less than EIGHT separate orders from 30 June onwards. All of those “orders” were announced before a bailout placing on October 6. And it is not as if this company, chaired by Tory Toff Lord Willetts, has not got extensive form in announcing big orders before placings which then turn out to be bogus. The Oxymorons at AIM Regulation could have stopped this if they had heeded my calls in letter to them about a full enquiry into past pre placing deceits going back right to the IPO but they did nothing. There now needs to be a full enquiry into the company and into Nomad WH Ireland with public censures resulting. My letter is below:
1394 days ago
On 10 July 2020, I published a devastating and detailed bear dossier on AIM darling Manolete (MANO) with the shares at 515p valuing it at more than £250 million. The company and its odious PR firm Instinctif responded with a pompous and unconvincing denial. I’ve warned you repeatedly since then and yesterday in the late afternoon came a shocking warning. The shares closed at 200p but as lies are exposed, worse, including a bailout placing, will come. So let’s start with the lies.
1401 days ago
With some folks having paid 8p+ for shares in Xtract Resources (XTR) late last week, today the company did a placing to the sewer dwelling clients of Novum Securities at just 4.5p. The shares are now just 4.8p to sell. Boy those folks suckered in by the Colin Bird ramping must be hurting today. This is so familiar but I did warn you explicitly what the old scoundrel was up to.
1408 days ago
How do you know when sleazy former Tory MP Tim Yeo is lying? Simple: his lips move. Let me give you an example as, the firm he chairs, Powerhouse Energy (PHE) today raised £10 million at 5.5p, a 35% discount, thanks to bucket shop broker Turner Pope. Whilst it is coke and hookers all round as Turner Pope considers its £500,000 commission, I want you to consider this statement from 9 September 2020:
1408 days ago
Bidstack (BIDS) managed to ramp its shares up to 13p the other day thanks to the follow on from a trading statement which was long on ramp but short on critical detail. That AIM Regulation allowed a company with a history of deceiving investors to issue such bollocks is another mark of infamy on its already soiled record. After the pump, you know what comes next and it looks to be underway.
1435 days ago
In my detailed coverage of the POS AIM Company Verditek (VDTK) I have shown how in every year since its IPO it has announced contracts, ramped the shares and then having raised funds in a bailout placing or two, the contracts disappear. Sometimes it ‘fesses up, sometimes there is no ‘fess, other times I have to run articles and sheeplishly, Tory Toff Lord Willetts and his chums are forced into an RNS. Well here we go again.
1462 days ago
Pantheon Resources (PANR) today completed a massive $30.2 million placing and Primary Bid offer at 31p. The shares were 33.7p bid (off 4.5%) yesterday but on the 13th they were 40p with some mug punters paying well North of that. On 11th November with the shares at 31p broker WH Ireland published a lengthy research note.
1468 days ago
Another day brings yet another bailout placing for AIM listed sub scale investment company TERN (TERN). It will not be the last but AIM Regulation needs to investigate the circumstances of this placing for there is now a clear pattern of deception emerging. I have dropped the Oxymorons a letter today.
1495 days ago
Skinbiotherapeutics (SBTX) boss Stuart Ashman until today held zero shares in the company. And he told us all that it had enough cash to last it until the end of next year at least. And so now there is a £4 million placing and £500,000 open offer at 16p. Mr Ashman can you see why I might be annoyed?
1512 days ago
Spotting misleading and deceptive RNS statements made by technically insolvent AIM listed ramp Verditek (VDTK) is like shooting fish in a barrel. The skill is in finding one that is demonstrably true! Given that the company needs a placing pronto to avoid bankruptcy, AIM Regulation and the FCA should be investigating all its statements made via RNS to establish if ANY are true, given how many pre-placing lies I have unearthed. So here is yet another one… Optimeyes.
1514 days ago
Having advised readers to bank big gains on Xtract Resources (XTR), I waited the requisite period and then dumped my own shares, disgusted by the way that Chairman Colin “Calamity” Bird seemed determined to dilute his mug punters in a shameless and un-needed fashion. Today, vindication.
1614 days ago
Shares in Tomco (TOM) have continued to race ahead even thought it is teetering on the brink of bankruptcy as those who broke insider dealing laws by forward selling last week’s placing, which had to be scrapped after it emerged the company had lied to investors, scuttled to buy back. That offers an opportunity and so I can reveal…
1617 days ago
Following the shocking revelation that Tomco (TOM) had lied to investors it has pulled the £1.5 million placing at 0.4p announced on Wednesday leaving it running on fumes. In fact, I’ll wager you a line or two of finest Colombian marching powder, direct from the City’s grubbiest dealing floors, that it is technically insolvent. Yet its shares, returning from suspension, have rocketed ahead to 0.775p, a gain of c75%. The FCA should be hot footing it to the offices of broker Turner Pope without delay. I smell crime.
1618 days ago
Oh dear,. Oh dear, this looks very grim for Tomco (TOM). Gary Newman slated the heavily discounted bailout placing at 0.4p announced first thing. But it seems that Tomco has been telling porkies and at 2.52 PM its shares were suspended pending an announcement. What will that say “ We are scumbags and fucking liars!” would be my suggested headline.
1628 days ago
A week ago, Malcolm Stacey could have sold his shares in Avacta (AVCT) at more than 200p each. In fact I think the old trading genius might just have done that. Then the company started “sounding out” investors about a fund raise and, not that anyone in London ever breaks insider dealing laws so this is a total coincidence, the shares started tumbling fast. As I write they are off by 5p at 132-5p as it has announced am up to £45 million fund raise at 120p. I don’t blame it.
1628 days ago
Mahmud celebrates the pain I am suffering and is so happy that he has helped us to get to 49% of the £48,000 we NEED to ensure Woodlarks SURVIVES. I only ask each of you for a tenner but how about every bearcast listener donates that TODAY so we hit target. Please give HERE. Then I look at my friend Jonathan Price’s article about why I am wrong on property plays. Euro loon Jonathan is a great chap though utterly misguided on almost every issue as only an elitist London millionaire can be and I clarify matters. Then onto Curzon Energy (CZN): I am a long and wrong shareholder and explain why I think the shares are too high and why a statement is needed ASAP. A few words follow on SSP Group (SSPG) and today’s dividend placing madness.
1628 days ago
Having failed to cure cancer, almost out of cash ValiRx (VAL) needs another story to ramp to allow its low-life brokers Peterhouse to get another discounted placing away to its spivvy flipper mates. Ahoy is that a bandwagon I see in the distance? Yes it is the Covid Express. Time to jump aboard.
1671 days ago
In today’s podcast I look at Scancell (SCLP) which really is taking the Corona piss. I comment on I3 Energy (I3E) which looks as if it may be toast, Cineworld (CINE) where I just can’t get my head around its post Covid -19 plans, online shopping, and then at Lookers (LOOK) where, even without the fraud which gets ever bigger, there seem to me to be very real causes for concern. Finally, a reminder, it is just two weeks to the greatest ever British investor show. Please book your tickets now HERE
1677 days ago
A “Placing and Related Party Transaction” announcement from OptiBiotix Health (OPTI)… but we previously stated confidence of the company now moving to profitability, so are we wrong? No! In fact we are now far more bullish than ever before following a chat with boss Steve O’Hara earlier.
1679 days ago
I start with a note on Bidstack (BIDS), which I shall be taking up with AIM Regulation over the weekend and end with Future (FUTR) which needs to issue a profits warning. In the middle I go therough the very murky tale at AIM listed All Active Asset (AAA) which sees uber ramper Chris Akers in action and Peterhouse Corporate Finance boss Peter Greensmith make a £768,000 killing in his private vehicles while acting as broker and pulling the strings at AAA and also acting as broker to suspended AIM stock Asimilar which is involved in this strange tangle. Then it is onto Optibiotix (OPTI) and a small placing. But this is not a bailout as Cynical will no doubt claim but,possibly a gateway, to a mega re-rate as I explain.
1688 days ago
On April Fool’s day there was an upbeat statement from Nostra Terra (NTOG) promising all sorts of good things. What it neglected to mention was that trade creditors had risen to £230,000 as the cash burning enterprise had no cash and so imply could not afford to pay its bills. One of those owed cash (£60,000) was Nomad Strand Hanson, boy how it must have been hoping for a placing….
1694 days ago
Tertiary Minerals (TYM) seems to think that its investors are the dumbest folk going and with the shares up by 75% at 0.32p maybe it is right for today’s news of a £600,000 placing is just an almighty spoof. For starters this is not a £600,000 placing!
1710 days ago
Well here is my estimate of when and at what price. But perhaps you have a better idea and might win some Greek Hovel olive oil as a result. Let’s start with a reminder of when Versarien (VRS) runs out of cash. Methinks the maths have got worse.
1717 days ago
Oh dear, oh dear, oh dear. AIM-listed jam-tomorrow (if ever) Internet of Things investment company Tern (TERN) has announced a placing at just 6p to raise just £0.8 million as predicted HERE to keep the lights on as its auditor is surely raising going concerns. That is a whopping 22.6% discount to last Friday’s close and 35% down on my tip of the year to sell when the shares were 9.25p. But there is more….
1721 days ago
I contacted the FCA last week about what appears to be blatant market abuse, or possibly even securities fraud, at Dev Clever (DEV) and to its credit it has sent back a non standard reply indicating that it is taking the matter very seriously. As a reminder, Dev did a placing on December 20 2019 and its CEO sold £500,000 shares a month later only to admit in February that sales for the six months to 31 October 2019 were way below forecast. How can a software firm have not had any inkling of that before the placing and CEO share dump. It defies belief. The FCA writes:
1740 days ago
I have been contacted by an elderly academic who has written up the events of Virginia Woolf’s 1932 tour of Greece. She claims to have been in Delphi when they discovered the body of my great Uncle David Cochrane. I rather doubt it and discuss this a) because it fascinates me and b) to annoy No Gold. Then it is onto Predator Oil & Gas (PRD) – is it placing ahoy? Versarien (FRAUD), Eurasia (EUA), Ascent Resources (AST), Sound Energy (SOU) and James “Dracula” Parsons and finally uber dog Mosman (MSMN).
1752 days ago
On January 6 Bahamas Petroleum (BPC) announced that it was raising £2 million at 2p from a Bahamas based fund. On January 30th it issued a ramptastic roadmap to drilling RNS and the shares rocketed. What more did oily spiv Jerry Keen and his colleagues at broker Shore Cap need to whir into action.
1755 days ago
Two sources whom I trust told me that Eurasia Mining (EUA) was doing a placing via Optiva. And so I ran the story, first giving the company the opportunity to comment, an opportunity it passed up on. The shares had been falling for a few days and that is normally a good sign, on the insider dealing plagued market that is the AIM Casino, that a placing was underway. So I guess a few folks sold on the basis of the article. Fear not folks, count it as a lucky escape.
1758 days ago
At 3.4p Eurasia Mining (EUA) is a company shown to have lied to investors, with zero balance sheet support and which is burning cash. That is why, it needs to do a placing. Yet it is still capitalised at £92 million. So, what are the shares worth? I asked you for the craziest examples of Bulletin Board Moron madness last week and while there were some great spots as you can see HERE, Evil Banksta came up with the gem below:
1759 days ago
Updated: Eurasia Mining (EUA) boss Christian Schaffalitzky talked about a dividend, PR guru the Sith Lord Zak Mir was told to suggest on a secret chatroom that directors would be buying millions of pounds of shares in the market and the shares zoomed.
1760 days ago
Well that is not something you don’t see on AIM every day. My share tip of the year at 4.6p to buy on January 1, Open Orphan (ORPH) now sees its shares, which I own some of, trading at 6.45-6.5p. But the excitement is only now starting – the company is now saying that a £5 million placing at a premium to today’s share price looks set to be heavily oversubscribed. Let me explain what happens next.
1795 days ago
Dev Clever (DEV) joined the Standard List at 1p on January 21 2019. Boy: it has been a rollercoaster year of pumping and dumping.
1801 days ago
I ramped up the pressure at the weekend and today Bidstack (BIDS) has finally issued a dire lack of sales warning. This admission shows that share selling CEO James Draper is a crook as well as a liar and the next bad news will be a bailout placing. For the morons who own these shares (40p+ just a few month ago and now sub 9p) the pain is far from over.
1802 days ago
I guess things are getting rather tight at Sound Energy (SOU). A source close to the situation tells me that former boss turned consultant James Parsons is trotting around the City trying to raise cash and telling folks he has just 48 hours to complete the bailout or it’s too late. So: what’s the price? It gets worse…
1827 days ago
I want to get in there before my colleagues and flag up that the valuation of the ramp du jour AFC Energy (AFC) is absurd and that the company is drowning in red flags. Reading some of the Bulletin Board posts this smells just like Cloudtag although obviously it is not a Norfolk. Natch. I want to makle that clear.
1827 days ago
In today’s podcast I look at the British Journalism Awards and Neil Woodford ( no shocks here folks), Union Jack Oil (UJO) and that planned placing, Tissue Regenix (TRX) as the FD walks, FastForward Innovations (FFWD), and at Plutus Powergen (PPG) , dire news and surely looming insolvency and yet more evidence of not gviving a flying wotsit about stockmarket rules.
1837 days ago
Firstly, thanks to all who have donated to the Woodlarks Christmas grotto appeal. We are now at 57% of target, can the rest of you chip in today and get us there. Please donate HERE. In today’s podcast I look at Bidstack (BIDS), Eden Research (EDEN), Dev Clever (DEV), Mothercare (MTC), Intu (INTU) and Sound Energy (SOU) where I did tell y’all so many times.
1838 days ago
On March 5 this year struggling, cash guzzling, pensioner mugging & free speech denying, Nomad and Broker WH Ireland raised £4.9 million at 45p saying that “Following a broad review of the Group’s likely future regulatory capital requirements and in particular, the Group’s regulatory capital buffers, the Directors believe the Placing will ensure that the Group has sufficient resources in place to satisfy the FCA’s present capital adequacy requirements.” Wind forward just 8 months and 1 day and….
1849 days ago
This morning we discover that AIM listed jam tomorrow purveyor Tern (TERN) has again passed the hat around with a discounted placing raising £1.75 million at 11.15p. But it was only able to get a placing away at that price because of spurious rumours which the company and its advisors must have been aware of and which it did nothing to quosh. I have written to the Oxymorons at AIM Regulation and to the chocolate teapots at the FCA requesting an urgent investigation into the company, its Nomad Allenby and broker Whitman Howard. It is not as if Tern does not have form in this respect.
1868 days ago
And so the saga continues. Bahamas Petroleum (BPC) having failed to get institutional backing for a placing at 1p to raise $20-25 million is now heading back to its existing shareholders with a £7 million open offer at 2p. You’d be mad to take it and here is why.
1873 days ago
In today’s podcast I discuss the ominous silence from Brady (BRY), dare to disagree with Chris “three brains” Bailey on SIG (SHI), look at Bidstack (BIDS) and consider the, incomplete, Q3 trading statement from Audioboom (BOOM), pondering when its next bailout placing will be.
1873 days ago
As Andrew Monk of VSA, rightly, says in his morning email, Shareprophets and I do not need defending but he does so anyway. Punters are pissed off that we reveal placings such as that of Reabold (RBD) last week. Would they honestly prefer that companies just ramped shares via ramptastic RNS’s and podcasts with Justin the Clown so they overpaid in the secondary market ahead of a discounted placing to City insiders and spivs? Really? Do my critcs really enjoy such financial flaggelation so others can prosper? Anyhow Monk goes on thus:
1875 days ago
Thanks to the Winnileaks service I have in my possession the presentation Reabold Resources (RBD) is serving up as it endeavours to raise up to £30 million. I gather it is tough going. The deal will come as a shock to joint brokers Turner Pope and Whitman Howard as it is Stifel Europe that is acting as broker. The presentation says the deal will be announced October 8. Ho Ho.
1876 days ago
In scoop after scoop this week starting HERE and ending HERE I detailed how Bahamas Petroleum (BPC) was trying to raise $25 million, first at 1.4p, then at 1.2p and finally at 1p. Those who signed up at 1p were told it would be announced Wednesday then today. In fact it has been pulled as the company could not, even at 1p, get close to $25 million. But today Bahamas has quite simply LIED.
1876 days ago
On Monday I revealed HERE that Bahamas Petroleum (BPC) was trying to raise $25 million and had already had to cut the price from 1.4p to 1.2p. Bahamas tried to deny there was a placing afoot via RNS but I published an email in response calling that out as a GREAT BIG FUCKING LIE HERE. Oh dear, it seems that things have gone from bad to worse.
1880 days ago
Earlier today I revealed that Bahamas Petroleum (BPC) was trying to raise $25 million. It could not do it at 1.4p so is now trying at 1.2p and that it has had to rope in bucket shop brokers such as Novum and Cornhill shows that it is struggling. The company has responded but, thanks to Winnileaks, it has dissembled as I demonstrate with an email that has fallen into my hands as you can see below.
1880 days ago
I now have it double sourced that Bahamas Petroleum (BPC) is struggling to get away a placing to raise $25 million. At 1.875p the market cap is £29 million.
1880 days ago
Okay, another placing from Big Sofa (BST). Cynics and bears can laugh at we shareholders but they will not be having the last laugh. At 3.8-4.2p the stance, at up to 4.5p is STRONG BUY with a target to sell of 6p+ achievable within weeks.
1906 days ago
Bulls claim to be delighted. Having issued a shocking profits warning on June 21, IQE has served up half year numbers which reconfirm full year guidance. There is no follow up profits warning. Well not yet. But bears have real reasons for cheer. Having stated in June that it could operate within its existing £27 million overdraft into Q1 2020, we see today that the company has secured an additional £30 million asset financing (expensive debt). Ok, no bailout placing pro tem but a sign that cash continues to be burned.
1921 days ago
Steve Moore and I have been perma bears of software dog Corero (CNS) for many moons. Of course some folks knew better, notably City investors Miton which built up a stake of 15.89% across two of its funds. Then last week Corero issued a shocking warning which Steve covered HERE and I covered HERE.
1936 days ago
Rotala (ROL) has announced a £1.14 million fundraising at 56p per share. This following an agreement to acquire, for £5.3 million from FirstGroup (FGP), a Bolton depot and the majority of the First business located at that depot. The company notes;
1938 days ago
As you may know I like the management at Big Dish (DISH) and its PR guru/Digital Communications Officer the Sith Lord Zak Mir is one of my very few friends. Pro tem. As such it pains me to say this but this company is now shown, with the publication of its results, to have lied to the market on May 30th 2019 in the most serious of ways, just eight days ahead of a £2.1 million placing. This should be jail time for someone.
1948 days ago
I explain the unusual location of my studio today. The welsh hovel is amok with workmen including Brokerman Dan who has explained to me his thoughts on Union Jack Oil (UJO) as he clears away asbestos. I also look at IQE (IQE) and at Idox (IDOX) both of which SHOULD have placings and neither of which I’d bottom fish.
1950 days ago
We warned you two days before the most recent profits warning from IQE that one was on the way, HERE, and when it arrived it meant that the company was a slam dunk cert to need a bailout placing. Today we discover that Canaccord has been axed as Nomad and replaced by Peel Hunt while Citigroup joins the party as co broker. This can only mean one thing, that bailout placing is imminent. So with the shares at 52.4p on Friday (and overvalued at that) at what price do you think the placing will be at? Vote below with a deadline of midnight tonight.
1956 days ago
There is a new RNS out today which begs massive questions which the company refuses to answer. And there is still the matter of the placing at 5.2p and more questions about whether Anglo African Oil & Gas (AAOG) will get that away in light of what it claimed on Friday. This stock is now utterly toxic and uninvestable at 4p. Enjoy.
1963 days ago
After intense pressure from ShareProphets and from those who were signed up to take part in a £2.7 million placing at 5.2p and are threatening to pull out, disgraced David Sefton and Anglo African Oil & Gas (AAOG) have made a statement. But the turd Sefton has misled investors again. How is Nomad FinnCap putting its name to this? Does FinnCrap have no shame? As Sefton dissembles I have some new revelations below….
1965 days ago
On July 1 we revealed that having raised cash in a placing he said was not needed just a few days prior at 10p a few months ago, David Sefton was trying to raise £9 million more at c5p for AIM promote Anglo African Oil & Gas, HERE. By Wednesday we exposed the undeclared related party company screwing nature of that fund raise HERE. On Thursday we flagged up that the placing part of the fund raise was in trouble HERE. Now on day six of this scandal it is worth asking why David Sefton has not yet been fired?
1965 days ago
I start with a few words on The Guardian’s obituary of Uncle Chris. I look at the deliberate spoof and placing at Mirriad (MIRI) answer your questions on Kefi (KEFI) look at the NEX lobster pot with its new owners and finally return to Anglo African Oil & Gas (AAOG) where a statement about THIS is needed ASAP
1967 days ago
Having announced a £2.7 million placing at 5.2p and a shockingly bad undeclared related party death spiral to bring in another £5.5 million yesterday shares in Anglo African Oil & Gas (AAOG) are tumbling are are now just 4.4p to sell. An urgent statement on two matters is needed. Firstly:
1969 days ago
Oh dear, Oh Dear. We have another operational update today. This just looks ever more messy for Big Dish (DISH) as we once again return to the 30th May ramptastic RNS which came just seven days before a £2.1 million placing.
1973 days ago
I suggested that Union Jack Oil (UJO) was planning a placing in yesterday’s bearcast. And lo and behold the Sheriff of AIM is right again, £2.25 million has been raised at 0.17p. But this raises big questions about the share trading activities of Mr Chris “Uranium” Oil, a man who has featured on this website often enough.
1979 days ago
Today’s bearcast is a little late thanks to the amazing work of Brokerman Dan at the Welsh Hovel. Photos later. I start with the bluncders of Julie Meyer’s latest lawyer. Then I look at Chesterfield Resources (CHF) and other mining tiddlers and explian why Doc Holliday (a bull) is either very right or very wrong and why I think, but do not know, that it is the latter. Then more questions for IQE (IQE) including when is the placing?
1980 days ago
I noted a few weeks ago, the way Big Dish (DISH) had issued an RNS essentially stating that “funding secured” (so no placing needed) and then a week later doing a placing and ‘fessing that even with the £2 million it raised it now only had cash until 2021. Was that market abuse? Today it got worse.
1982 days ago
News yesterday from BlueJay Mining (JAY) continues to underscore my view that the company needs to carry out an extensive capital raising exercise in order to progress on its Dundas field in Greenland. The word on the street is that it is sounding out mugs about a placing at 5p a pop.
1983 days ago
Once upon a time, with its shares at 82p, Sound Energy (SOU) was valued at c£500 million. But no institutions were backing it, this was just a ruthless private investor ramp. It worked but you cannot keep plates spinning forever and drill failures in Italy and Morocco brought the shares crashing down. Today there was a final kick in the gonads for the mug punters suckered in by CEO James Parsons and others.
1994 days ago
I like the chap behind Big Dish (DISH) so it pains me to say this but as it announces a placing today can it please not tell me why it has not done an Elon Musk “funding secured” grotesque act of market abuse? Let me explain:
2020 days ago
Finally, after almost three weeks of trying, and after I forced them to ‘fess with a scoop HERE, Bidstack (BIDS) and tawdry broker Optiva have managed to complete a placing. They were aiming to raise £5 million at 15p. Then it became 13.25p. The placing was completed at just 12.5p.
2032 days ago
Last Thursday evening I revealed in a bit of a scoop that Audioboom (BOOM) was trying to raise £8 million at 2.5p. The next morning the company was forced into a statement and said it was trying to raise £5 million at 2.5p. That was not really true – I published the deck the wretched company had sent to potential investors showing it was trying to raise £8 million. Today it fessed up that it has raised just £2.8 million with £1.2 million of that coming from the board and the Candy Brothers chucking good money after bad. What a shower…
2032 days ago
Back in late January as its shares were ramped to 3p on the back of preposterous speculation about the Parys Mountain deposit in North Wales I warned you that Anglesey Mining (AYM) was almost bankrupt and that it was placing ahoy. Today came the placing and an accompanying porky.
2032 days ago
I have suggested in a number of recent bearcasts that Bidstack (BIDS) was the most over-ramped and overvalued stock on the AIM Casino and also that it would have to do a placing within six months to keep the show on the road. A City source has now provided me with more specific information, an offering is already underway but it is struggling.
2032 days ago
Yesterday I revealed that Audioboom (BOOM) was running around trying to raise £8 million at 2.5p HERE. The Company has responded with an RNS “Statement re Online Commentary on proposed fundraising.” Oh come on CEO Rob Proctor you free speech denying knobhead, surely you can brinmg yourself to recognise which fine website scooped you and forced the statement. The statement natch dissembles as I shall demonstrate below.
2032 days ago
The codename for the latest bailout funding of Audioboom (BOOM) is Project Coffee. The presentation, which I have seen, gushes about growth opportunities but that is always the way with this serial deliverer of jam tomorrow. There is no mentioning of burgeoning trade payables. That is always the way with Audioboom and its bailout placings. Anyhow, the company is, according to its jargin filled document ”now seeking to raise a ‘growth’ capital round of c£8m at c2.5p per share.” With the stock at 2.3-25p that might be a bit of an ask. Time for an official comment on this ShareProphets scoop methinks…
2032 days ago
I have known for a while that Yourgene (YGEN) was to upgrade its broker from FinnCrap to Stifel. It is a big upgrade. But I was told that FinnCrap would be kept on as joint broker for three months during part of which Stifel is in a research blackout period. Something happened last Wednesday and FinnCap was fired with immediate effect. I shall endeavour to establish what it was but maybe it was just that FinnCap’s last research note was so bad that it was felt that no research for 40 days was better than another note from the same shite analyst. Perhaps FinnCap did something worse. I am digging. What you, my fellow shareholders want to know about is the placing and acquisition.
2052 days ago
Nine days ago Concepta (CPT) was pushing aggressively at UK Investor - having just re-announced a deal with Boots - and mug punters responded, paying up to 3.75p to buy shares in the market. Last week I was made an insider. Apparently two big funds were desperate for shares and a placing to raise £2 million was underway.
2067 days ago
In light of the contrast between the January 25 Lyin' Steve Sanderson video (dont worry about dilution, fully funded, blah, blah, blah) and today's UK Oil & Gas (UKOG) discounted placing we invite captions of the picture below: 3 vessels full of hot air, aka a tankers and two er oil executives. Post in the comments section below with a deadline of midnight tonight. The rudest/funniest entry will receive a semi naked photo of Britain's top share blogger (mornings only), thirsty Paul Scott.
2072 days ago
I warned you that Tomco (TOM) was pumping ahead of a placing. Some poor saps ignored that advice and paid up to 4.5p per share earlier this week. I hope they lubed up well as this morning £600,000 was raised at just 2.75p. Ouch! But this money will be pissed away just like all the other monies this POS company has raised. The City's No 1 oil analyst, Zac "the Knife" Phillips of SP Angel is damning in his morning email to clients. The great man opines:
2075 days ago
We have warned you time and time again that Blue jay Mining, the stock promoted shamelessly by disgraced share promoter Old Mother Michael Walters and SP Angel's John Meyer on the basis of bogus "imminent" offtake deals was one to avoid like the plague. The shares are off by 20% today at 9.1p and, a reliable City source, says that investors are being sounded out about a material placing. But at what price?
2076 days ago
Well before the end of June, Tomco (TOM) needs to get away another placing to avoid crash landing in its up alley. To that end, the £3.9 million market cap at 4.3p is a complete rum 'n; coke. Bt the ramp is underway ahead of the next bailout and thus we have a statement today which has failed to impress the City's No 1 oil analyst. Zac "the knife" Phillips of SP Angel writes:
2086 days ago
Cynical Bear is yet to comment ”told y’all” but being a drearily predictable fellow, it cannot be long now. Big Sofa (BST) has had another placing. But this one is different. I was made an insider on Wednesday and opted to take part and expect my 4p investment to double in pretty short order and to be well ahead of that by Christmas.
2098 days ago
In today's podcast I look at Audioboom (BOOM) in light of today's placing "scoop" in the M ail on Sunday and also what it says about the corruption of the deadwood press. I also comment on the virtue signalling by silly business minister Kelly Tollhurst re diversity on FTSE 100 boards. Suffice to say, she scores a gamma double minus for data analysis.
2098 days ago
Tom Winnifrith writes: It looks as if Reach4Entertainment (R4E) has made a great acquisition and as a long suffering shareholder I suppose I should be happy and say that we can all look forward to sunlit uplands. And maybe we can but I think I must be honest with you and come clean.
2108 days ago
Over the past month the share price of AIM casino listed Blue Rock Diamonds (BRD) has soared from 0.29p to 0.38p. Some lucky souls paid up to 0.4p on Friday. Let’s review the timeline:
2111 days ago
In today's bearcast I look at the woes of Lucian Miers, at Yourgene (YGEN), Interserve (IRV), Greatland Gold (GGP) - do the maths its placing ahoy! - WH Ireland (WHI) and FinnCrap (FCAP). Then I explain what will be the major financial scandal of 2019 hitting well over a hundred thousand folks where the FCA is only belatedly waking up to the problem, a problem it helped to create.
2113 days ago
The behaviour of Westminster Group (WSG) chaired by disgraced ex Tory MP , Sir Tony Baldry of 3DM fraud infamy, displays everything that is worst about the AIM Cesspit. Today we have a £500,000 placing via newly appointed joint broker the low -life team at SVS. But just ten day ago it was all so different.
2125 days ago
I start with a detailed look at Neil Woodford's debt crisis at his Patient Capital Trust (WPCT) as exposed by Nigel earlier and explain what happens next. Then prompted by my Blue Jay (JAY) article I look, using various case stiudies, at how a CEO on AIM gives you a clear steer that he is not going to do a placing when he is going to do exactly that.
2143 days ago
Where to start? This is laughable unless you are one of those suckered in to buying shares in Angus Energy (ANGS) by the diarrhoea of pre-placing ramp tweets from shameless Big Dave Lenigas. Then it is a bit of a tragedy. Today’s newsflow is hilarious.
2143 days ago
It is becoming like groundhog day at BlueJay Mining (JAY) and the oft trailed "offtake agreement" that never materialises... Originally touted in early 2017, nearly 2 years later and despite much promotion by disgraced share promoter Michael Walters and John Meyer, the shameless head of research at scumbag Nomad SP Angel, there seems little sign of one for BlueJay's investors.
2156 days ago
Tom Winnifrith wrote before Christmas: I am just livid, But you make bad trading decisions when livid so I am not selling my shares in Wishbone Gold (WSBN) but am doubling down on my torture by going to spend two days with my mother in law in the grim Northern welfare safari.
2181 days ago
The real issue with Tomco (TOM) is that it will be out of cash within three months. another issue is that no-one really trusts it. Oh.. and its assets are shite. Other than that it looks like a great company. Today it tried to puff the share price ahead of an inevitable placing as discussed in bearcast HERE. The City's No 1 oil analyst Zac "the knife" Phillips of SP Angel is damning. The great man writes...
2187 days ago
Frontera Resources (FRR) is, as you know, completely out of cash, drowning in debt and facing two pieces of litigation either of which could see it lose all its assets, D-day in one case could be within a week. In such a bleak position there is only one thing to do: Issue a spurious release and then get the whore blogger Malcolm Graham Wood to pump the shares to try to get a bucket shop discounted placing away. But surely shareholders in this company are not that stupid? Er....
2193 days ago
In today's extra long bearcast my swearing is minimal and I start with the rather bleak macro picture. How long will the sell-off continue, what is causing it and what should you do? I then look at Audioboom (BOOM OR BUST), Sosandar (SOS), Wey Education (WEY), Frontera (FRR) and Babcock (BAB). You can book free seats to grill Sosandar, Nigel Wray etc on December 3 HERE
2198 days ago
Forget all the blather about how Falanx (FLX) will use the £4 million net raised at 3p to grow its business. Interim results for the period to 30 September show that it was almost out of cash. It is thus quite infuriating for the company to state that it has raised the cash “in response to institutional demand”. Whoever wrote that should be hung, drawn and quartered and have their head placed on a spike outside the Stock Exchange as a warning to others who sput such obvious bollocks via RNS. To the results first...
2202 days ago
Following the recent placing, the house - thus not impartial - broker VSA has rejigged ita valuation for Columbus Energy (CERP) in the detailed note below. The price target comes down from 25p to 21.4p to reflect the dilution but at 3.7p the stance remains buy. I agree with the conclusion but am not so sure that the price target is not a tad ambitious.
2209 days ago
Of course David Lenigas is not on the board of Angus Energy (ANGS) and thus had no idea at all that a heavily discounted placing at 9p would be announced today. And thus his aggressive pumping of the stock on twitter last week, as you can see below, is just another remarkable coincidence. Just like this one ahead of the last UK Oil & Gas (UKOG) bailout placing. Big Dave.., an AIM casino leopard who never changes his spots.
2213 days ago
On 23rd October as oily and unpleasant PR man Piers Pottinger, now the face of the fraud MySquar (MYSQ) as its chairman oozed up to do a paid for share pump interview with Proactive it was announced that Mypay Limited, a related party thanks to links to the criminal family of ex CEO Erik Schaer, had sold shares so it no longer had a notifiable interest. A week later the company did a bailout placing at just 0.35p. It gets worse.
2215 days ago
Back in July 2017 MySquar (MYSQ) misled investors massively about its current trading and thus committed blatant securities fraud in raising £1.2 million at 3.75p. It stated then that it “does not expect to require additional funds for current operations.” That was a lie. Since then it has raised millions via death spiral funding but with liquidity drying up and the share price tanking it has now raised just £600,000 gross at a pathetic 0.35p. Ouch. It gets worse.
2227 days ago
Tom Winnifrith writes: Falanx (FLX) has offered up a statement which looks like good news. I shall write more having grilled the company at the Nigel Wray shindig, but the release comes in two parts...
2242 days ago
In today's bearcast I help my pal Mr Lenigas out and answer his question as to why shares in Angus (ANGS) are not rising after the Balcombe flow results yesterday. I look at Blue jay (JAY) where it is placing ahoy, Pantheon Resources (PANR), Optibiotix (OPTI) and in detail at Malcolm's favourite penny dreadful, Feedback (FDBK) and its risible trading statement today.
2244 days ago
Tom Winnifrith writes and has also discussed this in bearcast HERE: We ordinary shareholders in Premaitha (NIPT) have suffered for many years and shown enormous loyalty. News released well after the market close of a £2.5 million placing at 10p might thus seem like a kick in the teeth by a management treating us with contempt. I am afraid the story is far worse.
2257 days ago
It has now emerged that Brokerman Dan attacked what he thought I said about Angus Energy (ANGS) without actually listening to what I actually said despite us giving him a 24 hour pass for bearcast access. He spouts an awful lot of piffle in his latest article but declines to print corrections. Poor Dan. Oddly on one major point he is almost correct. Moving on, I also look at Cenkos (CNKS), Frontera (FRR), Rosenblatt (RBGP), i3 Energy (I3E), MySquar (FRAUD), Online Blockchain (OBC) and Kellan (KLN).
2262 days ago
Update. Two thirds of this podcast stands. The ramping and share dealing comments are 100% fair and very serious. But there is no placing as this podcast suggests - I was "played" as explained HERE. David Lenigas is leading the ramping of Angus Energy (ANGS) shares as you can see below. A placing is on the runway, Then there is the issue of the shares sales by America 2030 of shares ex CEO and Company founder Jonathan Tidswell-Pretorious claimed to own as we reported here. Quite simply what Angus stated in RNS statements which is what we reported is not what happened and it has failed to acknowledge that and what has happened since. Until it does new Nomad and broker Stockdale must surely stop any placing going ahead - there will be one one day. Listen and despair of the AIM Casino.
2270 days ago
A reliable City source tells me that Reabold (RBD) spent much of yesterday attempting to get a £10 million fund raising away. If this is the case it is going to have to be at a steep discount and the shares are trading down 9% at 0.75p-0.85p indicating something is afoot. I have contacted house broker Turner Pope giving it the chance to deny and…
2274 days ago
I have already flagged up comments by those close to Atlantic Petroleum, which showed that in a desperate attempt to ramp its shares ahead of yet another bailout placing, Andalas (ADL) was over-egging the Badger Pudding. Now Atlantic has gone on the record in a way that exposes Andalas big time and surely Nomad Beaumont Cornish must now force Andalas to issue a correction and stop its misleading pre-placing ramping?
2277 days ago
In today's podcast I look at the worthless crap that is Andalas (ADL), the trainwreck in waiting - placing ahoy - that is Frontera (FRR) and finally, in detail, at slam dunk sell red flag infested IQE (IQE).
2277 days ago
Grossly overvalued AIM listed piece of crap Frontera Resources (FRR) is running on vapours. It has less cash than your average Venezuelan and is burning it at an alarming rate. Despite the best efforts of disgraced PR man Tim Thompson of scumbags Yellow Jersey PR and the whore blogger, Malcom “Fat Bastard” Graham Wood to ramp the stock, it has more than halved since May 1 and is now just 0.22p to sell. So what price is the looming bailout placing going to be at. You guess in our reader poll, the deadline to enter is midnight tonight:
2284 days ago
I do not wish to fall out with my pal Brokerman Dan or with PR Genius Steffi but I think that their enthusiasm for Andalas Energy (ADL) is misplaced because the company is just not being 100% upfront with investors about its new great hope, the Badger prospect in the North Sea.
2305 days ago
The results which came out in early July made it clear to anyone who could do basic maths that Jim Mellon's FastForward (FFWD) would be passing the hat around shortly. Three ramptastic RNS's followed and today I can reveal that the company is on the road trying to raise £5 million in fresh equity.
2307 days ago
First of all thanks for all the kind comments on the Woodlarks walk. The final photos and my final thoughts are HERE. It is not too late to donate HERE and that is what David Lenigas should do now as he gets his twitter knickers in a twist over his pre-placing tweets on UK Oil & Gas (UKOG). He now says on twitter he was an insider -in the US that would be a perp walk admission. The shameless old ramper is now batting for Angus Energy (ANGS). Elsewhere I cover Optibiotix (OPTI) and the odd Midas call, Wolf Minerals (WLFE), N4 Pharma (N4P), Arden Partners (ARDN) and Goldplat (GDP). Back to Woodlarks: next year I seek volunteers to join the 4 rogue bloggers. I now have 4 (PR genius Steffi, daughter Olaf, my pal the Euro loon Jonathan Price and Steve Moore), if you are up for it email [email protected]
2351 days ago
We forced a statement last Friday and, today, UK Oil & Gas (UKOG) says it has completed an “oversubscribed” placing at 0.9p. FFS these bastards have a nerve. How they abuse and insult the owners of this company, its shareholders.
2351 days ago
I noted yesterday that Gavin Burnell of Globo infamy was one of the team at Novum Securities which raised £4.5 million for Audioboom (BOOM) at 3p – a placing which is already well underwater. How do I know? Because his name is one of three at Novum on the RNS. But here is a funny thing: Burnell is not approved by the FCA to conduct investment business! As you can see below, it reckons he is “inactive.”. I took this up with Novum boss Hugh McAllister…
2356 days ago
On Friday we forced UK Oil & Gas (UKOG) to fess up that it was trying to raise £5 million. It is struggling to fill that back and the shares – now just 1p-1.05p – at least partially discounts the pain that is coming. But ShareProphets readers, when polled HERE, think far worse is coming. I agree.
2357 days ago
It was a sordid end to the week for UK Oil & Gas (UKOG). On Thursday its "consultant" David Lenigas was ramping the shares on twitter with outrageous claims as exposed HERE. On Friday morning I revealed that a placing - which clearly Big Dave knew nothing about - was underway HERE and by midday UK had fessed up with weasel words, see HERE. The shares closed Friday at just 1.05p-1.1p. You vote below with a deadline of midnight Sunday:
2359 days ago
UK Oil & Gas (UKOG) has been forced to confirm my scoop of earlier today - that is to say that it was running a book on a placing of £5 million and is struggling. The statement marks this company out as being run by outright wankers running a busted flush. It says:
2359 days ago
As noted many times, but most recently in bearcast yesterday, UK Oil & Gas (UKOG) is running on fumes. It quite simply does not have the cash to both cover its (bloated) PLC costs and fulfil its exploration commitments for the rest of calendar 2018. Thus a City source close to the situation tells us that ShoreCap is - as we speak - sounding out investors about a £5 million placing. And it is struggling to find any demand.
2365 days ago
In today's bearcast I look at Mysquar (FRAUD), UK Oil & Gas (UKOG) and its latest spoof, Dignity (DTY) where I have grave concerns, Magnolia Petroleum (MAGP) and its dead cat bounce, Pantheon Resources (PANR) where it's placing ahoy and at Mirada (MIRA) where I fear the worst. Sorry Matt Earl. Brokerman Dan says that if we raise our target £20,000 for Woodlarks with our 30 mile charity walk on July 28 he will do the last mile in his underpants. We will have cameras on hand and splash it all over the internet. Thanks to all who have donated but 95% of bearcast listeners have yet to do so although we are already 23% of the way there. So please donate a tenner each today HERE
2372 days ago
Hooray. After this week's doorstepping and podcast special and the work back in Bristol this is a great day. I suspect it is game over and discuss the probable demise of Folli Follie. Never buy a stock on a PE of 1. Elsewhere I look at rumours concerning Nomad Northland, at Echo Energy (ECHO), the fraud MySquar (MYSQ), my letter to Julie Meyer HERE, Sound Energy (SOU), Westminster Group (WSG) - with its revolting chairman ex Tory MP Tony Baldry - and Frontera (FRR) and its latest pre placing ramp. Now come on chaps, if you enjoy bearcast - and I know 1000 of you do every day - please donate £10 NOW to the Woodlarks charity walk - HERE
2396 days ago
As you know I reckon EVERYONE should register with Primary Bid. It costs nothing and one day you will see it do a placing you are gagging to do and which will be snapped up before you know it by folks who are registered and get alerts. So SIGN UP NOW HERE!. Dave Mutton explains more at the UK Investor Show here.
2471 days ago
A statement is needed. A reliable source tells me that a placing is underway seeking to raise £500,000 at 0.5p. The shares are currently 0.65p-0.75p. Ouch.
2485 days ago
The City's No 1 oil analyst makes an oblique reference to the shoddy way this stock is promoted but the reality is that today's news is grim and it is placing ahoy (YET AGAIN). Zac "the Knife" Phillips of SP Angel opines:
2488 days ago
Surely this is putting the cart before the horse. On 13 December long term,, AIM uber dog Strat Aero (AERO) launched an open offer to raise up to £510,000 at 0.035p ( to complement a £590,000 placing at the same amount. The offer was 81% taken up. Today came the bad news...
2533 days ago
Peterhouse Corporate Finance was yesterday sent a letter by me urging it to make potential placees aware of the massive regulatory risk directors of BOS Global (BOS) face from ASIC ahead of any fund raise. I am sad to say that Peterhouse appears to be ignoring my generous advice driven by the season of goodwill. Meanwhile the share price is slumping - now just 0.7p to sell - as the broker hits the phones.
2533 days ago
I have pointed out earlier that Peterhouse Corporate Finance has real issues in trying to get away a placing at 0.25p or perhaps 0.1p in AIM dog BOS Global (BOS). With the shares at 0.7p bid some may be tempted but before they send cash over to broker Peterhouse they do know the broker cannot do a placing don't they? Er.. something else Peterhouse is not telling its clients maybe?
2543 days ago
Having noted on a potential Reach4Entertainment (R4E) placing last week that we understand that there has been strong demand at 1.5p per share and that we’re looking at £5 million at least being raised, the company has now announced a, conditional on General Meeting approval, £5.5 million placing at 1.5p…
2543 days ago
My old friend Jim Mellon claims to be worth £800 million although I rather doubt that (by a long chalk). But he is certainly worth a bob or two and that brings us to news today that he has bought 50,000 shares in Condor Gold (CNR) at 39.5p. I say Spoooooooooooooooooooooooooooof - placing ahoy!
2565 days ago
I am hard at work preparing for my annual treat of lecturing the snowflake sociology students of the Mrs, as a break from the normal Guardian reader behind the lectern they have me tomorrow. Game on. I cover utterly worthless shite that is roofing it, notably Mayan Energy (MYN) and Cogenpower (CGP). I point out that in the end gravity reasserts itself - see Servision (SEV). I lament what went wrong and how it could have been avoided at Fishing Republic (FISH) and BOS Global (BOS). I suggest what useless Mrs May should do on Brexit and then look at the Concepta (CPT) placing. The shares - which we own - are now dirt cheap. But I am still well fucked off with various aspects of today's £2 million placing as I explain.
2578 days ago
Corero's (CNS) disastrous interims were just six weeks ago and since then we have had four pieces of good news announced with great, ramptastic, fanfare: two contract wins, a new partnership agreement and, today, a contract renewal. It can only mean one thing, this is the pump before the dump, it is placing ahoy. Just look at the historic numbers and do the maths...
2579 days ago
I start with Starcom (STAR) whose statement as it announces a placing is pure unadulterated bullshit. Do the crony capitalists who put this shite out take us all for morons? Then it is onto Altitude (ALT) whose shares are up by 19% today valuing the company at £32 million. Maybe I am thick ( don't comment on that!) but I just cannot get my head around that valuation and explain why. Finally onto Altona Energy (ANR) and related ramp Uru Metals (URU). This is the latest POS to get the full ramp treatment and I explain why its share price is absurd.
2580 days ago
If you are not a Primary Bid member you should join now HERE. Friday's deal by Ascent Resources (AST) shows why. The £1 million placing was announced at just after hours on Friday at 1.66p. Now look what happened...
2589 days ago
If it sounds too good to be true, it is too good to be true. That brings me to the Cascade (nothing to do with Bill Gates) ramp and Servision (SEV) and a detailed look at why it is utterly worthless. I look at the bogus French bid stories at UK Oil & Gas (UKOG) and how the Froggies are actually dumping the shares ahead of a bailout placing and because they are monstrously overvalued. Its also placing ahoy at Magnolia (MAGP) and Andalas (ADL) which is so shite it makes UKOG look like BP. I look at Blenheim (BNR), the boardroom departures and why its shares are 50% overvalued. Finally I try to work out how soon Condor Gold (CNR) will have yet another placing and why I would not back it at any price.
2590 days ago
So Jersey Oil & Gas got its placing away at a 21% discount and it is a company serving up good news. UK Oil & Gas (UKOG) has been serving up cold sick to its shareholders and is out of cash so needs a placing ASAP to avoid going tits up. UK Oil & Gas shares are now just 4.5p to sell so at what price do our readers expect the placing? Look away now if you are long, strong, wrong and clearly smoking a bong.
2590 days ago
Roger Lawson of ShareSoc bought a few shares in Rosslyn Data (RDT) as a recovery punt in a placing. That he was able to get EIS relief added to the attraction although I still worry he will lose money on this company which I have highlighted many times (HERE) as a howling dog even by the standards of AIM. Lawson attended the AGM yesterday and reports back on what appears to have been a curate's egg in his mind. I think he is being well generous.
2590 days ago
UK Oil & Gas (UKOG) is almost out of cash and the see-through from the latest Horse Hill transaction shows that at 4.775p, a market cap of £169 million is absurd as I explained HERE. So at what price will the rescue £5-10 million bailout be priced a?. We know that it was offered some cash at 2p a few weeks back but that was before all the bad news. With a placing surely imminent the deadline to vote in this reader poll is midnight tonight (19 October)
2593 days ago
The shares are tanking said the PR man to lyin' Steve Sanderson, CEO of UK Oil & Gas (UKOG). How will we get the bailout placing away? I know said Lyin' Steve, let's put out a ramptastic operational update. And so lo and behold Lyin's Steve issued the release and the Bulletin Board Morons fell for it (again) and the shares zoomed from 4.05p to 5.35p-5.4p. It is placing ahoy.
2595 days ago
I go through the timeline in detail. It is quite clear that the 31 July placing by MySquar (MYSQ) was securities fraud. Why the Nomad and broker have not quit in light of the trading statement today defies belief. But I guess this is the World's Most Successful Growth Market. I then look at Character Group (CCT) and why I think that the reaction to today's statement is overdone. Then it is onto UK Oil & Gas and I explain why its shareholder list and market cap pose a problem as it urgently tries to do a placing to keep the lights on after yesterday's dire news. Finally I urge you all to read today's statement from Countryside Properties (CSP) which tells you in black and white how much trouble the housing market is in.
2598 days ago
On September 15 2017 I explained why the folks who run Applied Graphene Materials (AGM) were slam dunk proven liars and predicted a bailout placing. Hey ho. Vindication did not take long. Today we are told that there is a book build on a placing to raise £9 million + at a minimum of just 36p with a £1 million open offer also planned. The shares have crashed by 23p to just 40p bid. Another win for the Sheriff.
2598 days ago
I forgot to ask one big question at the Conroy Gold & Natural Resources (CGNR) GM on Friday - when is the next placing? But before we come to that - and the answer must be soon - there is a little matter of possibly the biggest stock overhang on AIM. The TR1's are flying thick and fast.
2616 days ago
With its shares having reached 25.75p last week and closed at above 25p on Wednesday, Amryt Pharma (AMYT) announced on Thursday that it was “delighted with the support we have received” for an “oversubscribed placing”, raising a gross €15 million (£13.3 million)… at 20p per share! As a long standing shareholder I say "F**k you." I feel so utterly 100% shafted as will those who paid 26p+ last week after confident results which made it clear that Amryt was fully funded. So I asked Steve Moore to pen an analysis. As I explained in Thursday's bearcast HERE I am too angry to be objective. The fact is that at a 22.5p offer the shares are a BUY.
2619 days ago
Those seeking to oust the board at Stratex (STI) have not been playing with a straight bat as an RNS late yesterday made clear. They are vermin who should be sent packing. Ditto Professor Conroy of Conroy Gold & Natural Resources (CGNR). I have news on his latest courtroom scrape in Dublin and also on the Afren (AFR) whistleblower to whom I make a generous offer. I am warming to Blur (BLUR) after today's placing and am almost tempted to nibble now that ghastly Phil Letts and his even more ghastly Mrs have gone. There is a detailed analysis of interims from Watchstone (WTG) - Quindell as was. Do not get suckered by that headline cash number. It is not real and the shares are a sell. Finally there is an update on the African Potash (AFPO) and Paragon Diamonds (PRG) litigation.
2624 days ago
Companies that tell lies to investors are ones that should be avoided like the plague. If you pick a company up on one lie the odds are that there are stacks of others going undetected. That brings me to Applied Graphene Materials (AGM) where I will demonstrate a slam dunk lie. Then we will turn to its looming cash crisis.
2630 days ago
Remember Horse Hill? That was the original breakthrough site for UK Oil & Gas (UKOG). It was the Gatwick Gusher. It was the site that lyin' Steve Sanderson claimed contained a billion barrels of oil. Then he said he never claimed that. Then a video emerged of him saying that. So is that one big lie or two? Anyhow as UK Oil & Gas tries to ramp its shares ahead of a placing we have more ramptastic news from the Hill.
2633 days ago
The word on the street is that - having raised £6.5 million (gross) at just 0.8p back in May - UK Oil & Gas (UKOG) has been so startled by the spectacular - and largely unwarranted - re-rate of its shares that it is lining up another, much larger, placing alberit at a material discount to the current share price. The shares raced ahead again yesterday as private investors again fundamentally misunderstood an RNS.
The company gave a series of updates on Broadford Bridge which the morons took to mean that it is commercial or that there are signs that it may be. that is not what the RNS means. In plain English a leading oil analyst summarises thus:
2649 days ago
Once again I return to the subject of the company on AIM with the stupidest bunch of shareholders. The auditors of Bushveld Minerals (BMN) have stated explicitly that the company needs to raise fresh equity to avoid going tits up but shareholders respond by saying "how often have auditors got it wrong?" and a range of other excuses. They just do not get it at all, it is placing ahoy. Now the company has news today which the morons who own this stock seem to think is good. Ina private email this morning a top City broker put it thus:
2656 days ago
With apologies to my fellow bear Matt Earl, the Dark Destroyer, who is a NED at Mirada (MIRA) but today's trading statement moves swiftly from gushing about jam tomorrow to a a damning admission of the monumental cashburn which leave the balance sheet holed beneath the waterline. It is placing ahoy and for a company of this size that means bucket shops and a deep discount
2664 days ago
Just three months ago some of Britain's top fund managers ploughed more than 50 million dollars into a placing organised by AIM dog Telit Communications despite numerous warnings from ourselves and others. But they knew better and anyhow it was other people's money. The shares have collapsed today to less than half the placing price after the most awful set of interims. But the fund managers will still earn Inter City salaries + ( more than 125) and fat bonuses so who cares? Are there any folks in the share world dumber than those fund managers? Er....
2669 days ago
On 25 January 2016 I accused Pantheon Resources (PANR) of being a mug punter fave and of being ready to do a placing. A huffy puffy PR person got a huffy puffy FD to call me to tell me that i was talking bollocks. The City was reassured that aI was a prize poltroon/failed fund manager/pizza delivery boy/drunk and , assisted by a scandalously ramptastic operations update, the company raised $30 million at 115p in early March. Why is this ancient history so important?
2672 days ago
AIM Casino uber-ramp MySQUAR (MYSQ) 'fessed up on Friday that, as I had revealed 24 hours prior, a placing was underway but it insists that it does not need the cash. Really? I want you to consider a few numbers.
In the six months to December 31 total costs were $1,926,926.
2685 days ago
I have in my hand a little piece of paper which means peace in our time said Andalas (ADL) boss Dave "the rule breaker" Whitby as he announced yet another great deal for his company. But like all the other pieces of paper that he has waved in front of his labotomised army of groupies led by cardboard box dwelling sheep shagger Justin the Clown, it is just a worthless piece of paper - just like an Andalas share certificate. Hat tip to Brokerman Dan for that joke.
2685 days ago
For the second time in a week we have seen share options exercised at AIM listed Norfolk MySQUAR (MYSQ) - this time it is 1.875 million warrants exercised at 5.5p which will add £103,125 to the coffers. that is kind of handy for this cash guzzler which is close to running on fumes. But this is a spoof.
2687 days ago
Shares in Fox Marble (FOX) fell by almost 10% to 8.25p-8.5p on the back of news that it had appointed Beaufort Securities, Belfort Secs to its legion of admirers, as the company's joint broker. The assumption is that Belfort, whose clients are mainly bucket shops, will be doing a discounted placing. that is not the case, Fox has enough cash to get it through to profitability but Belfort's reputation proceeds it. Fox has gone on the record to say there is no placing.
2688 days ago
Our very own Gary Newman nailed this spot on at the weekend flagging up that an almighty pump in Arian Silver (AGQ) was underway. Our sober, harsh but fair coverage contrasts well with the really sordid rampfest that saw the shares pushed ahead ahead of a placing today raising £600,000 at just 0.5p.
2705 days ago
Shares in Strat Aero (AERO) have almost doubled today to 0.14p which amazing as the final results for calendar 2016 are out and are utterly crap. Okay they are less crap than 2015 but they are crap and indicate that the company must be as near as damn it, bust. Yes we are promised more jam tomorrow but before we get there surely it is placing ahoy?
2710 days ago
The underlying problem with Milestone Group (MSG) is that it is a crap business that never generates any cash. Thus in order to keep CEO Deborah White in the lifestyle to which she has become accustomed and to keep paying crony capitalist advisers such as shamed PR firm Walbrook (Eden, Fusionex, Advanced Oncotherapy etc) it relies on bailout placing after bailout placing with shareholders seeing value destroyed every time.
2714 days ago
This is becoming routine. After hours on on Friday PrimaryBid announces a material placing opportunity for its members. This weekend it is Myanmar Investments (MIL) where directors are putting in at least $725,000 ( a good sign) as it seeks to raise $3 to $5 million at $1.18 - a 9.2% discount to its closing price on Friday.
2733 days ago
Yesterday morning I ran a piece pointing out that at 0.15p the valuation of PCGE (PCGE) was utterly insane and anyone buying shares (at up to 0.16p!) deserved the beating that would surely follow. It did not take long. At 2.19 PM the company announced it had raised £400,000 at 0.1p. Ouch. The shares are now 0.11p to sell. BBMs 0 The Sheriff of AIM 1. A familiar scoreline.
2738 days ago
Strat Aero (AERO) the AIM casino listed company that under a former management team repeatedly lied to investors is still a joke. In January and February of this year it raised $1.23 million gross (call it $1.1 million net) promising that 2017 would be a turnaround year. One would hope so - in 2016 it lost c$3.5million. So how is it going? Not well I suggest, judging by a joke RNS today.
2739 days ago
This is a major fund raise by FlowGroup (FLOW). It has most of it in the bag and will raise up to £29 million. This is institutional territory but it is - very decently - letting in Private Punters via PrimaryBid with an offer announced at 5.12 PM today and which closes at 9 PM tonight. The up to £4 million being raised is being done at 1p - the shares closed at 1.1p-1.15p. But this is not a party for spivs and flippers this is a proper City fundraise which FOR ONCE you can take part in - but hurry, the deadline is 9PM TONIGHT SIGN UP NOW HERE
2744 days ago
As we forced it to admit on May 9th, UK Oil & Gas (UKOG), the Horse Hill explorer run by pompous little prig Steve Sanderson is trying to raise c £6 million. The shares before that scoop were 1.2p mid. But having raisred to get the issue away at 1p, hapless broker to frauds like Quindell, Lagos Securities is now struggling to get it away at 0.8p as we revealed last night. Just to put the value destruction in perspective...
2747 days ago
Even in the Snakefields of Greece I keep on breaking news! On 9th May I revealed that UK Oil & Gas (UKOG) was endeavouring to raise £6 million at 1p - with the shares then trading at 1.2p bid. That forced an angry admission from the company that it was all true. Another scalp and fine piece of investigative journalism saw the shares then tumble to 1p. For long suffering holders and believers in Horse Hill, I have more bad news.
2787 days ago
This is becoming routine. After hours on on Friday PrimaryBid announces a material placing opportunity for its members. This weekend it is LGO Energy (LGO) which has raised £2.2 million in a placing at 2.2p but is now offering a chance for ordinary investors to put up another £300,000 at the same price.
2797 days ago
This is becoming almost routine. After hours on Friday PrimaryBid announces a material placing opportunity for its members. This weekend it is Premier African Minerals (PREM) which is raising £1.5 million at 0.5p.
2805 days ago
I have been greatly distracted not least dealing with this utterly brain dead and vile Cloudtag (CTAG) shareholder who has been spamming me with the most ghastly abuse all day. I look at the Bob Diamond bid for Panmure Gordon (PMR) and what it means for the wider broking/corporate advisory sector. I then turn to Premaitha (NIPT) and the wider issue of the pointlessness of commissioned research. I touch on Management Resource Solutions (MRS) in light of the news earlier HERE but now the way it is really trying to screw shareholders with a 5p placing. There is comment on Jubilee Platinum (JLP). Then it is back to two old favourites: Advanced Oncotherapy (AVO) and Milestone (MSG). Woof Woof.
2815 days ago
For years Advanced Oncotherapy (AVO) has ramped its shares to get away placing after placing with ramptastic investor presentations. But that was before I started asking all those horrible questions for which there was no answer. and Winnileaks started obtaining toxic leaked emails. Last night the company had a presentation in London. It has another in Zurich this morning. Warning Swiss folk and tax dodgers quotes about the London chinwag include "everyone left unhappy" and from a long term bull "I am just throwing in the towel." The shares have crashed by 23% to 36p bid so far today. The target for me remains 0p. But for those folks going to the Zurich meeting here here are 15 questions Advanced can't or won't answer:
2821 days ago
This morning, after a series of profits warnings, AIM uber dog TrakM8 (TRAK) has announced that there is a bookbuild underway on a £1.66 million bailout placing at just 65p. The shares are now 67p bid so you'd be a moron to participate but conversations are being had between institutional morons and hapless broker FinnCap right now, not withstanding the fact that today's statement lays bare the Nov 28 interim statement as 100% misleading.
2821 days ago
FastForward (FFWD), in which my good friend Jim Mellon has a material interest, has announced a disposal today claiming a 112% profit on its trade. It is talking out of its arse as it pumps ahead of a much needed placing as I explain in this bonus podcast.
2822 days ago
In its final results yesterday AIM listed lifestyle company Milestone (MSG) commented about the semi failed October 2016 placing:
2823 days ago
I am sure that after events today at Cloudtag (CTAG) you had a good idea how this podcast would start! I move on - as I await apolgies from hundreds of morons for all the abuse and attacks - to cover Avanti Communications (AVN), ECR Minerals (ECR), Milestone Group (MSG), Redcentric (RCN), Red Leopard (RLH) and SalvaRx (SALV) where it is placing ahoy! Oh yes, Aidan Earley has served me with a libel suit. Natch I will see the bitchez in Court but I too have a little surprise for Aidan. More on that later. Smiley face.
2823 days ago
Advanced Oncotherapy (AVO) the company with sod all cash, that is a cash guzzler, with no sales and which has persistently misled both investors and customers has moved up a gear with its death spiral funding and the shares have fallen again to just 49p to sell. Boy how sleazey former director, the Blair crony, Lord Evans of Watford must be glad that he dumped all his shares at 120p just ahead of the last big placing and during a closed period. And there has been no sanction at all. Bully for him. Now back to the death spiral.
2826 days ago
At 4.18 PM trading in the shares of AIM listed fraud Cloudtag (CTAG) were suspended ahead of an announcement. I do not know what the news will be but if it was good it would have been rushed out. I assume it is yet more bad news. As I pointed out earlier HERE, Novum Securities has every reason to walk away from the £975,000 placing at 3.75p announced this morning.
2828 days ago
When it looks like placing ahoy, sounds like placing ahoy and smells like it is placing ahoy it usually is placing ahoy. I look at the numbers for Corero (CNS) and Amur Minerals (AMC). In this podcast threatened by the greed of morbidly obese three legged cat Oakley, I also cover NCC Group (NCC) following up from yesterday's late in the day article, Advanced Oncotherapy (AVO) Beowiulf (BEM) and TrakM8 (TRAK). I also look at the laughable PR of worthless crap company Fitbug (FITB). There is a stand alone bearcast on the joke news from Servision (SEV) HERE
2852 days ago
Greatland Gold (GGP) has been pursuing small - and almost certainly not economic - gold deposits in Tasmania since Adam was a boy. Every year it promises jam tomorrow, the shares are pumped up a bit and then it does a hugely discounted placing. Rinse & repeat. But suddenly it is the ramp de jour.
2857 days ago
Today AIM listed serial disaster story and cash guzzler Fitbug (FITB) has announced that it has raised £1 million at 0.2p. The shares have crashed to 0.19-0.2p on the news ( a fall of 26%) but if one looks at the trades you see the sordid underbelly of the AIM Cesspit in full play.
2895 days ago
Having ramped its shares up to 0.15p by pretending that the refinacing of its bank debt was by anything other than a death spiral and with some huffy puffy claptrap about new drilling, LGO Energy (LGO) got back to what it does best today, a placing to dilute yet again.
2906 days ago
Shares in the fraud African Potash (AFPO) made their debut on the ISDX lobster pot today and for some reason have surged on AIM. This is a dead cat bounce. Tomorrow they will be suspended on AIM and a month later booted off the Casino because no Nomad will act for this company - Cantors having given notice on September 7. The reason that no Nomad will act - despite promises from lyin' Chris Cleverley in a recent RNS that he was confident one would - is that Potash issues lies via RNS to get placings away. Thus it is a fraud.
2912 days ago
The Primary Bid bandwagon is gathering speed and anyone interested in AIM should register now HERE. Today's vindication of Dave Mutton and his team is from Mobile Streams (MOS) which is doing a placing and open offer at 4p - the shares w4ere 8p last night. In days gone by this would have been for bucket shops only but now you can take part too, thanks to Primary Bid.
2918 days ago
Following suggestions yesterday HERE that Cloudtag (CTAG) was being rather tardy in turning a binding HOT into a solid contract with US Distributor Cities announced on August 8, two days before a placing, into a contract, hey presto wre have a contract announced today. But hang on Henry...
2918 days ago
How on earth can Nomad Cairn continue to act for the fraud Cloudtag (CTAG) as it today fesses up to another pre-placing hoodwinking of investors? After the Second Chance guaranteed sales of $5.2 million RNS ( 4 days before a placing) statement was exposed as a big fat lie, now we turn to the US distributor Cities.
2920 days ago
Having last raised money at 0.2p earlier this year shares in Andalas (ADL) are sliding again and are now just 0.1p- 0.105p. Oh dear. It really is time for CEO Dave "the Rule Breaker" Whitby to fess up and admit that the placing is underway and, it seems, not going well.
2920 days ago
It was only seven months ago that AIM uber-dog Corero (CNS) appointed Cenkos as its joint broker and promply raised just under £9 million at 22p. Gosh i am glad that i am not an institutional client of Cenkos with the raft of dogs and frauds it has acted for in recent years. The shares are now just 9.5p to sell. But another bailout placing looks inevitable. Just do the math!
2921 days ago
A City source tells me that broker SP Angel is right now endeavouring to raise £7 million for Greenland mining outfit Finnaust (FAM) at 7p per share. At a current 8p to 8.75p the company is valued at £40 million on AIM.
2921 days ago
I was struck by a number of conversations I enjoyed during my trip to London this week with brokers on the sell side and also bucket shop investors - they are rushed off their feet. This is confirmed by the comment below from Andrew Monk of VSA and it tells you two things very clearly. Take heed, you have been warned.
2921 days ago
Today's RNS from Mosman Oil & Gas (MSMN) is not new ramptastic news but just a recycling of yesterday's ones with the factual errors corrected. What is it with this company and its inability to tell the truth to investors? Anyhow.. the RNS is pretty clear, it is placing ahoy.
2921 days ago
I have pointed out a number of times in recent weeks that not only is Andalas Energy (ADL) really very close to the wire in terms of running out of cash but that it is also on a ramptastic promotional exercise which all adds up to placing ahoy! But now I have confirmation.
2929 days ago
By my maths Strat Aero (AERO) now has cash of er...about...roughly...sweet FA. It is completely out of cash and continues to burn cash and indeed when publishing results that were drowning in red ink on September 30th the management were reported as admitting that it needed to place before Christmas. I should cocoa. You don't need the brains of Cheryl Cole to work that one out.
2937 days ago
In the disclosures at the back of Tuesday's detailed buy note on Berkeley Energia (BKY) by Peel Hunt which the broker wants me to take down, it states that the company is a corporate client but does NOT say that "5. Peel Hunt is Broker to this Company and therefore provides investment services to the Company" As it happens it is joint broker.. The note is HERE and as you can see with the shares at 47p Peel Hunt said that they were a buy worth 98p to 159p Three days later there is a placing of $25-30 million at 45p and guess who is building the book?
2947 days ago
Some folks have commented about yesterday's bearcast. Hmmmm if you think that you are well placed to tell me what i can or cannot say after 24 years as a journalist you can just fuck off and see if I care. Thereafter I talk about 88 Energy (88E) and about Strat Aero (AERO) - placing at 0.2p or is it 0.25p ahoy? Then the analysis which I think is my best of 2016 and which I served up at 2 AM today - HERE - now it is off to lunch with Uncle Chris (Booker) and the younger generation.
2953 days ago
A late bearcast. Sorry. I was working on the new share tip. Away from that I look at just two stocks: twitter and how you monetise a troll? So what does that make the shares worth? Then onto Bushveld Minerals (BMN) and its placing today done by Belfort Securities. What does that tell you about AIM. There is a lot of PR horseshit flying about that placing as I point out. Warning: this bearcast contains bad language right from the start.
2955 days ago
The Mrs is staying with the mother in law for another day meaning more peace and quiet for myself and Oakley and another day not to tidy up various messes that have been created. What bliss. In the podcast I discuss Kefi (KEFI), some very serious questions for the scam Highlands Natural Resources (HNR), Magnolia Petroleum (MAGP) and placing ahoy Strat Aero (AERO) as well as Boohoo (BOO) anj Asos (ASC)
2964 days ago
Hello Sailor! Coooeeee - that looks really big. Are you excited yet? Oooh what an interesting release. Yes Phil Letts at Blur Group (BLUR) has again announced information which even he knows is utterly insignificant. Phil can see that his share price is drooping rapidly ahead of the next bailout placing and is desperate to get it up.
2964 days ago
FastForward - On the ramp again, guess cash must really be low and it's placing ahoy
Lorne Abony must have needed a holiday because having been running at more than one RNS a week for most of the year things went quiet (relatively) in August and September at FastForward Innovations (FFWD), the second most self-ramped stock on AIM. But now old Lorne is back in full ramptastic mode with two announcements in two days at the end of last week.
2973 days ago
Last week LGO Energy (LGO) had a keep the lights on placing at 0.1p, just four months after the prior keep the lights on placing at 0.2p. As I noted today, the next keep the lights on placing will be at 0.05p and within two months. But it is good to see that a company that is spunking £150,000 a month to money heaven still has spare cash for important things...
2980 days ago
It was about a year ago that I had a spat with my good pal Big Dave Lenigas when he denied my assertion that LGO Energy (LGO) was about to place. Naturally it did. As I have indicated in recent weeks that another bailout blizzard of confetti was on the way there was not even an attempt to deny from camp LGO this time around. I have oft suggested that the next bailout would be at 0.1p. Just call me mystic fucking Meg please...
2988 days ago
Eight days ago I predicted that Solo Oil (SOLO) would need to do a placing and suggested that 0.18p was the likely price. Well knock me down with a feather duster but it has today announced a placing to raise £2 million ( lets call it £1.85 million net) at, cue drum roll.....0.18p. Genius or what? Of course Solo is still rubber ducked as I shall explain. The shares at 0.23p remain a sell.
2990 days ago
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. Blog number thirteen....
You can see all the entries in The Chairman's Blog HERE
14 September
The little oik Bellis from our broker Beaufort Securities was on the phone pointing out that the shares had been sliding since that placing a few weeks ago. I asked if his clients were complaining. "Don't be silly mate... you is 'avin a giraffe'" I was told. I was not sure what the man
2992 days ago
On May 17th 2016 Inspirit Energy (INSP) raised £750,000 gross ( call it £700,000 net) at 0.5p per share but since then the news from the boiler room has been limited. The shares have tanked to just 0.29p and, worse, still, basic maths suggests that the jam tomorrow producer will be out of cash again within weeks. Is it placing ahoy? Methinks yes. Here are the maths.
2997 days ago
Earlier this week Solo Oil (SOLO) announced quite startling news - that it was to lapse an option to buy an additional 1.25% stake in the Kiliwani gas field a deal first announced back in February of this year. This leaves Solo's stake at 7.125% but begs very serious questions of Neil Ritson's floundering company. Is bankruptcy looming and is Kiliwani not living up to the hype?
3001 days ago
Hell: who cares if a company on AIM tells a blatant lie about a big order a few days before a bailout placing? African Potash (AFPO) reckons that is okay and now it appears that the most ramped stock of the moment, Cloudtag (CTAG) thinks that it is just part of the game too. Does anyone care about the rules any more or is fraud now acceptable on AIM?
3002 days ago
Happy Wedding Anniversary said the email from Memery Crystal lawyers to African Potash (AFPO). Actually it did not, I made that up. Just like African Potash makes up its press releases ahead of a placing. I shall reply to Potash in a "formal" manner tomorrow. Elsewhere I look at Cloudtag (CTAG), Edenville (EDL), Zincox (ZOX), Gable (GAH) and Mayan (MYN), the former Northcote (NTC).
3002 days ago
Aha, let's tell the morons that we are going to take legal action against Tom Winnifrith for pointing out that we are lying bastards who commit fraud. That will allow us to get a rescue placing away but we don't want to go for libel because disclosure would destroy us. Telling spivs you are going to sue the Sheriff of AIM allowed the fraudsters at Sefton to issue more confetti several times and African Potash (AFPO) is using the same playbook. But death for this worthless POS is merely postponed by a few months.
3007 days ago
Well that is the forecast anyway for those who took part in the San Leon (SLE) placing at 45p details of which were announced today. For once we are on the same side as Tosca Fund which did most of the placing as we also had a modest nibble. Delivery is the key but on those sort of forecasts it would be rude not to invest.
3007 days ago
Shares in AIM dog Strat Aero (AERO) zoomed ahead by 140% on Monday on the back of a total piece of non news. There was more non news on Tuesday but the shares started slipping back from 1.1p and they fell again today becuase after the pump there was the dump a placing to raise £370,000 pre expenses at just 0.5p. Oooh you bought into the pump at 1.1p - sore bottom time. The shares are now 0.6p to sell. It gets worse.
3008 days ago
My man in London has provided me with a new email sent by African Potash (AFPO) CEO lyin' Chris Cleverley. This now allows me to publish the contract signed with Beryl Holdings, so demonstrating to you all how misleading the announcement by Potash was and also the bung involved in this deal. More critically I can now demonstrate the individuals at City firms who were aware how misleading the RNS was and - given that Potash was on the pathway to a placing - how fraudulent that is. Those City figures I name and shame should now all be placed on immediate workplace suspension ahead of a formal enquiry.
3012 days ago
On December 1 2015 AIM listed African Potash (AFPO) announced what appeared an incredible marketing deal for its fertiliser with a company called Beryl - of course nothing has come of the deal and what African neglected to mention was a £600,000 bung. A source in London has sent me the signed contract. One month and 12 days ahead of a bailout placing investors were grossly mislead as to the nature of the Beryl deal. Potash shares need to be suspended at once and AIM Regulation and the FCA have to get involved.
3016 days ago
Its a ramp based in Australia which in the current climate of fevered bulishness is perhaps ideal. Shares in Harvest Minerals (HMI) started August at c5p - they are 21p today. The word from a reliable source is that Beaufort Securities - appointed as joint broker last month - was trying to do a placing at 8p. But...
3027 days ago
Cloudtag (CTAG) the AIM listed jam tomorrow producer staged its last placing on July 14 but will again have negative net current assets by September 1 and is thus serving up more ramptastic PR bollocks to its moronic shareholder base to ramp the stock ahead of the next confetti issue. Today's "Binding Heads of Terms Signed with US Partner" RNS puffery was a classic.
3027 days ago
Wow! Blenheim Natural Resources (BNR) just got an option to buy 7.5% of a great company for just £1. And the company has an amazing gold and copper asset in Bongo Bongo land. It sounds almost too good to be true...precisely. Caveat emptor this looks like a pre placing ramptastic load of horseshit. So lets investigate and "fiske" the news.
Blenheim says that it:
3030 days ago
Yesterday Magnolia Petroleum (MAGP) managed to raise £250,000 to keep the lights on in a massively discounted placing. Today it has served up an operating update. Why not the other way round or was this needed to try and spoof buyers so that the spiv share flippers could sell?. It is not working as this update was ramptastic horseshit.
3030 days ago
I noted a week ago, here, that Audioboom (BOOM) shares were weak and that since it was running out of cash I reckoned a placing was afoot. Lo and behold there is indeed a £2.55 million placing at 2.5p today but there is also a stream of other announcements which are a red flag festival. This is a horror story.
3030 days ago
I have warned you repeatedly (the archive is HERE) that AIM listed Magnolia Petrooleum (MAGP) is a dog with fleas that exists merely to keep its useless board in well paid employment and to provide coke and hookers money for the crony capitalists. It will never make money for shareholders. Hence today we see a laughable bailout placing. Death is merely postponed.
3032 days ago
Thanks firstly to those kind folks who showed some appreciation for the introduction to yesterday's bearcast - praise is always welcome. I am still in a bad mood so watch out for some choice French as I discuss Cloudtag (CTAG), Starcom (STAR), ECR Minerals (ECR), Kibo Mining (KIBO), Conroy (CGNR), Iofina (IOF) - in detail - and Sunrise Resources (SRES) and its broker Belfort Securities. Watch out it is placing ahoy at Sunrise as I explain in detail. Just do the math!
3032 days ago
Wandisco (WAND) has today published results for the half calendar year which indicate that at June 30th the company was bust. Thank heavens it got an equity placing away shortly afterwards but did it tell punters how bad things were before it got their cash? And how soon before the next bailout.
3032 days ago
Oh dear Oh dear, things are looking ever bleaker for Neil Ritson and AIM dog with fleas LGO Energy (LGO). Interims out next month will be diabolical, the cash position by now is looking grimmer than a wet Thursday in Scunthorpe and ramptastic announcements are just not having any impact on the share price, surely it is time to bring back Big Dave Lenigas. Cometh the day and all that.
3032 days ago
Those lucky folks who got in on the most recent bailout placing for AIM dog Starcom (STAR ) in March at 1.5p have done brilliantly. The shares now trade at 4p mid and this is now le ramp de jour for certain morons on twitter and the bulletin boards. But the valuation is surely insane at £5.4 million given the ongoing losses, painful lack of tangible asset backing and the inevitability that another placing is imminent.
Starcom makes interactive padlocks and places some store on the latest release of its flagship product Watchlock (Pro version). But
3032 days ago
The last placing from Andalas Energy (ADL) was in April at 0.2p. As those punters who paid up to 1.3p suckered in by Dave "rule breaker" Whitby, disgraced ramper Big Gob, ooops sorry Big Gib, and Justin the Clown screamed in agony they must have thought things could get no worse. Au contraire...
3032 days ago
I have a stack of dessert gooseberries. I know they should be in a fruit salad but I can't buy into that so want to put them into a crumble but with what? I seek answers from any gourmands or gourmets who are listening. Then I look at Alba (ALBA) in detail, its placing ahoy! I move through Northbridge Industrial (NBI), Gable (GAH) and the mystery of the dog that barked in the night, Gulf Keystone (GKP), Keller (KLR) and FastForward Innovations (FFWD).
3034 days ago
In our recent coverage of FastForward Innovations (FFWD) both Cynical Bear and myself have pointed out that the maths in its ramptastic announcements to the mug punters who back this stock, simply do not add up. But there is a bigger problem...the company is running out of cash.
3052 days ago
CloudTag (CTAG), the company that produces jam tomorrow and is ramped by a legion of pea brained inbred imbeciles with a collective IQ of less than your average tomato has announced yet another placing, this time raising £800,000 (before costs) at 5.25p. Hmmmm.
3054 days ago
This is so shoddy. As I have pointed out on a number of occasions, Cloudtag (CTAG) has negative net current assets and is burning cash. Hitherto it has managed to persuade mug punters to buy into placings done at a premium to the prevailing share price on the basis that there was lots of jam tomorrow.
3055 days ago
Some naughty, naughty chappies appear to have taped the entire AGM of LGO Energy (LGO) on Monday. You naughty, naughty boys. Transparency for an AIM listed PLC. Whatever next? This is political correctness gone mad. If Neil finds out who is responsible he will get his favourite PR genius Steffi to spank bottoms at once. I digress lets go 14 minutes and 30 seconds into the recording...
3067 days ago
On 9 June I revealed that POS AIM stock Provexis (PXS) was trying to get a placing away forcing the company to admit that it had secured "non binding committments " for £160,000 to be raised at 0.24p. Non-binding, as in worthless. Today we get even worse news.
3077 days ago
Beaufort Securities is joint broker to grossly over-ramped Advanced Oncotherapy (AVO). That means a fat retainer and also a good slug of the commission earned for the regular placings this company needs to keep paying its bloated boardroom payroll and other costs. The commission on the May 2015 fundraise at 8p would have been £1 million. Coke & hookers all round! Except for the shareholders, that is, as the share price is now 5.25p and its going to fall further as the next placing is imminent. So how do you ramp a stock ahead of a placing?
3077 days ago
This morning Lombard Risk Management (LRM) announced an £8 million bailout placing and open offer at 8.75p - news which reveals to all the utter contempt with which chairman Phil "interX" Crawford treats shareholders. Crawford is still refusing to explain why he left Oracle in a hurry, and his presence - at a cost of £400,000 last year - makes this stock toxic, at 8.75p.
3078 days ago
I have already covered the shocking covert bailout placing by uber-ramp Highlands Natural Resources (HNR) HERE. But today it has also announced a quite ludicrous bogus disposal which even the Bulletin Board Morons seem to concede makes this piece of Turkish a laughing stock. It involves fellow stockmarket dog with fleas Opera Investments (OPRA)
3079 days ago
Last year Golden Saint Resources (GSR) waited until it got a placing away in late May to announce its piss poor results. It needed extra cash to satisfy the auditors that it was solvent, let alone a going concern. This year it seems that broker Cornhill could not bring itself to stiff its clients again - hats off to Frangos and team for showing some integrity. But bucket shop- SVS Securities has no such qualms and has raised £400,000 gross ( £371,000 net of fees to crony capitalists) at 0.07p. So I guess we can now see the results soon.
3080 days ago
We start with Boxhill (BOX) chaired by Lord Razzall who still refuses to answer 10 questions from Cynical Bear. The company has now gone legal. It is utterly uninvestable. Then I look at Wandisco (WAND) - which schmucks backed its placing today? I also cover FastJet (FJET), Fox Marble (FOX) and Nighthawk (HAWK)
3080 days ago
Ooops a daisy another day and another scoop and another hugely discounted placing revealed by yours truly. Apologies to Paul Scott if he was suckered into this one too by a ramptastic trading statement on May 31 but with shares in Provexis (PXS) trading at 0.26p-0.29p this perennial uber-dog with fleas is passing the hat around again. Time for a statement hapless Nomad & broker Cenkos?
3090 days ago
When it comes to cash, Cyan (CYAN) is the AIM equivalent of a crackhead. That is to say if shareholders pony up for a placing, the company responds with a marginal increase in sales but a huge increase in losses and then comes back for ever more. FFS cries executive chairman John Cronin in today's results, "give me some more fecking scrabble" I'm almost out. And that brings us to the £12.5 million placing which Mr Cronin was planning to do at 0.21p on May 24th when I spoiled his party with this scoop HERE.
3100 days ago
Blenheim Natural Resources (BNR) has today issued a ramptastic release about IGS, a pretty unexciting company it invested in as a result of a sordid related party transaction. It clearly hoped to push the shares higher but instead they are 13% down at 0.5-0.6p. Why?
3103 days ago
Paul Scott is slating me for breaking news of the Cyan (CYAN) placing which the company has now confirmed in a grudging sort of manner. I examine why Paul is upset but explain why his argument is flawed and why he needs to direct his ire at the company not at me. Ever since there have been financial journalists our job has been to break stories of placings, bids and profits warnings. I explain why that is the moral thing to do and exactly why it was the moral thing to do to break the Cyan placing today. I've been breaking such stories as a financial journalist for 25 years. I am bloody good at it and so have no plans to stop. It is one of the few things I do which I can say, without doubt, is morally right. My snake encounter article, I mention in the podcast, is HERE
3103 days ago
A good City source tells me that Beaufort Securities is trying to raise £12.5 million for uber jam tomorrow play Cyan (CYAN). The shares are 0.28p now the word is that the placing is being priced at 0.21p or lower.
3108 days ago
Biotech outfit Summitt (SUMM) may have some interesting IP but it is pretty early stage, years away from generating a cent in revenues, other than the odd grant, and it is munching up cash at an alarming rate. Results came out the other day for the year to January 31 2016 and they really do beg the question: when's the placing? Perhaps that is why the shares have slumped from c150p at the start of the year to just 112p today?
3109 days ago
There has been a real attempt to ramp Inspirit Energfy (INSP) on a six month timeframe ahead of today's placing. There were tweets from my fave Monaco based Colonial with whom I have a summer truce and whom I thus shall not mention, the utterly meaningless share purchases (spoofed ya!) by John Gunn and a series of soft paid for interviews with Sith Lord Zak "Judas" Mir and others when Mr Gunn said there was no need for a placing. So today there was a placing.
3111 days ago
There is so much delightful (for we bears) symmetry between LGO Energy (LGO) and Andalas (ADL) as both sink to a level where flippers in the recent placings must now take a loss. Right down to the CEOs both having facial hairs. It is uncanny and the subject of this podcast which also makes general points about stocks where the share price dips below a placing price in short order. It is all about human psychology.
3113 days ago
Kosovo and Macedonia quarrier Fox Marble (FOX) has announced financing developments – including a conditional £2 million gross placing at 10p per share and we took part in a small way. The funding is:
3113 days ago
Cathal Friel did the right thing in turning Fastnet (an oil company) into Amryt (AMYT) a pharmaceuticals play. We bought into the RTO placing. Here is Cathal explaining the story at UK Investor Show. Enjoy
3114 days ago
Shares in Wishbone Gold (WSBN), which is still not doing a placing as a certain ex bank robber insists but instead is raising debt but not for PLC costs, have slipped to 0.475p prompting a couple of readers to ask if Richard Poulden said something bad at the Mining Capital Conference yesterday?
3114 days ago
There was I trying to get an early night's sleep and who should call, blissfully unaware that I was on Greek time. It was Stefan Oliver of MX Oil (MXO) concerned that the morons had told him that I had said that it was trying to get a £4 million placing away at 0.1p. Of course I had said nothing of the sort but Stefan went on the record to clarify the position.
3114 days ago
In this podcast I start with Baby Bear, Graham Neary, and why he is wrong on Fastjet (FJET). The trouble is that he is being too nice. Baby, try to remember that we bears are meant to be complete and utter bastards. I then discuss my own Greek planning woes and those of Minoan (MIN). Then it is onto e-therapeutics (ETX) and today's RNS which stinks to high heaven. This is now an A1 bargepole stock. I then cover Atlas African (AAI), Andalas (ADL) - what price the next placing? - Hague London (HNL) and MX Oil (MXO) again what price its next placing? 0.1p looks about right to me.
3119 days ago
How many of the poltroons buying Andalas (ADL) shares at c 0.3p have actually read its AIM readmission document? Indeed I wonder, since only the congenitally moronic would be buying this stock, can they actually read at all? Maybe a grown up can help for the document is a shocker..
3125 days ago
Myanmar based internet company MySquar (MYSQ) joined AIM last July at 10p per share. The shares are now 7.5p bid but following the appointment of joint brokers on 4 April, a reliable source tells us that it is placing ahoy! The price?
3130 days ago
A City source tells me that MX Oil (MXO) is - quite unbelievably - endeavouring to do another placing, this time at 1p.
3130 days ago
Last week I broke the news that Metal Tiger (MTR) was working on a placing and that Andy Thacker at SI Capital was the broker doing the placing. I dont make things like this up and gave Mr Thacker a chanjce to comment before publishing. I was lambasted by BB Morons for making it up and was told the company would phone me over the weekend to tell me I was wrong. There was no placing, Metal needed no cash. I was accused of market abuse for saying there was a placing. Well guess what?
3130 days ago
Oh dear it seems as if the Andalas (ADL) Placing is not going to have Justin the Clown singing joyfully in the valleys. It is very bad news for Justin the clown, the top podcaster in the homeless Welsh Community, but I've heard a rumour from ground control, Oh no, don't say its true. As ever the late David Bowie is just so prophetic.
3138 days ago
In the land where most people are descended from convicts and where culture is something that grows on top of yogurt (I refer to Australia not the slums around Liverpool), shares in 88 Energy (88E) have been suspended as it is placing ahoy. Whatever next? Rolf Harris again denying the's a nonce?
3138 days ago
In a mad rush given that it could be booted off the AIM casino on Friday, Andalas Energy (ADL) is - according to my sources trying to raise £2 million at between 0.45p and 0.55p - that compares to 1.3p just prior to suspension. Rule breaking low life dirtbag CEO Dave Whitby has engaged commission hungry/ethics light brokers at Cornhill to bring in the cash, promising them market beating commission plus warrants - a package worth several hundred thousand quid if they can stiff their clients and back this issue. For mug punters the maths just do not stack up.
3139 days ago
What on earth made Keras Resources (KRS) boss Dave Reeves travel thousands of miles from Oz to London, only then to head up to Walsall and what happened in the black country shit-hole? I only ask because Reeves arrived in Walsall on Saturday 9th April to do a presentation after which the shares collapsed ahead of a placing announced today. You may not know much about Walsall other than that it is a post industrial shit hole but let me enlighten you.
3145 days ago
In the he said she said fraud allegation filled pantomime at Strat Aero (AERO) we have a minor distraction today in the form of a placing to raise £400,000 at 1.125p. Hmmmm. Questions, questions.
3146 days ago
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?
3150 days ago
Since March 3 in 25 working days, my old pal Jim Mellon's AIM casino listed FastForward Innovations (FFWD) has released 9 ramptastic good news RNS statements - one every three days. Since 31 March it has released 6 statements - that is to say almost one a day. It is almost as if Jim has been taking lessons from the master, Mr David Lenigas, on the art of the blizzard of ramptastic releases. Yet another placing with your tea vicar? It is also the nature of the releases that concerns me.
3150 days ago
Yesterday on the back of news from the Kiliwani gas field in bongo bongo land Neil Ritson, gopher to the fat aussie share ramper David Lenigas seemed keen to let share trading morons across the land know how exciting this was for Solo Oil (SOLO). Some morons paid up to 0.4p in the secondary market. The shares are now 0.27p to sell after the inevitable placing but the numbers still make no sense.
3157 days ago
Eden Research (EDEN) has engaged in fraud for years. No-one seems to care. It has just raised £2.6 million today in a placing. It has spunked c£32 million in 16 years since launch. This cash will be spunked too. I explain why everyone knows Eden has committed fraud and why no-one seems to care. I am not sure I even care anymore so rigged and corrupt is the stinking cesspit that is AIM. Warning this podcast contains bad language.
3173 days ago
LGO Energy (LGO) has announced that it has raised £1.36 million in a placing at 0.25p and also that contractors have agreed to take payment of £590,000 of debts at the same price. This is a disastrous snub from the London Markets to David Lenigas as it was he who led this attempted bailout and mug punters were being promised a £5 million raise as you can see in leaked email correspondence below. Neil Ritson the hapless CEO of LGO admits that this is not enough, stating in the release:
3175 days ago
I warned you on Friday's bearcast that MX Oil (MXO) was trying to get a placing away at 0.75p and hey presto today we are told that it has indeed raised £2.5 million at 0.75p. The shares are down by 26% on the news at 0.8-0.85p: you dont need to thank me all at once for giving you a heads up. What is going on?
3175 days ago
Solo Oil (SOLO) the David Lenigas created POS cannot stop telling us more ramptastic news from Horse Hill yet its shares are sliding again today. Why? Well there is a missing RNS on its acqusition out in Bongo Bongo land and the small matter of the placing it needs to do ASAP to pay for that deal and to stop the company going bust.
3175 days ago
Shares in Distil plc (DIS) traded more than 20% higher, at just over 1p on Friday, on the back of an update that “we remain confident for the fourth quarter of the financial year and expect full year performance to be in line with the board's expectations” and a rare placing at a premium.
The owner of premium drinks brands RedLeg Spiced Rum, Blackwoods Gin and Vodka, Blavod Black Vodka, Jago's Cream Liqueur and Diva Vodka has announced
3180 days ago
Just how much cash does UK Oil & Gas (UKOG) have left? At September 30 2015 net of trade payables it was c£4 million. PLC costs are £100,000 cash per month. And the cost of all the work at Horse Hill not to mention the Isle of Wight must have been closer to £2 million than £1 million. I reckon the number is now c£1.5 million which means a placing is needed fast. Fellow Horse Shite play Solo (SOLO) neess a placing within two weeks to pay its commitments in Bongo Bongo land hence today's ramptastic (misleading) RNS.
3180 days ago
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...
3180 days ago
It is International Women's Day and I ponder how to celebrate now that the Mrs has cooked my breakfast and been made aware that my West Ham shirt needs cleaning. Then to the markets. Solgold (SOLG ) announced its placing last night - as I flagged it would at the weekend HERE - next up is Rose Petroleum (ROSE) where I flagged up the timing of the placing it must surely announce soon 90 days ago HERE. It is just about doing the bloody maths. I have a detailed look at Audioboom (BOOM) and then have a new message for the disgraced failed CEO pig that is [email protected]. My other podcast to which I refer on why the sordid deal with Turkey MUST make you vote for Brexit is HERE
3191 days ago
We warned you two days ago that Independent Resources (IRG) was trying to spoof investors with a bogus announcement in order to get a discounted placing away...it has not taken long, the placing today is a shocker. the FCA and AIM Regulation must investigate.
As a reminder, Independent tried to persuade us that a supplier had accepted payment in shares at 0.6p. The shares were in fact trading at par at 0.1p. The shares raced ahead to 0.3p plus on this spoof (we explain why it is a spoof here). And today the company has raised a pitiful £93,000 at 0.12p which will keep the PLC lights on for just another few weeks.
3193 days ago
Beowulf Mining (BEM) has today announced a placing raising £1.25 million (gross) at 3.25p. The odd thing is that the company could have raised more and at a higher price but did not do so. CEO Kurt Budge and sidekick Bevan "African Eagle debacle" Metcalfe have screwed their shareholders - bar 1 - royally. Here's the story.
3194 days ago
Independent Resoures (IRG) is almost bust and will do a placing to keep the lights on very soon. But its shares are up by 185% today at 0.3p thanks to an RNS which is a spoof aimed at fooling mug punters. It has worked, never underestimate the stupidity of AIM investors.
3201 days ago
It was just five days ago that Magnolia Petroleum (MAGP) served up a gushing, ramptastic "operational update" neglecting to mention that it was insolvent. I warned you to sell then at 0.23p and here's why: today we saw a pitiful placing at 0.14p for spivs to flip which will keep the PLC lights on for just a couple of months more.
3206 days ago
Ramp ramp ramp, Neil Ritson of Solo Oil (SOLO) is in full ramptastic action right now as he tries to pump the shares ahead of a placing - just do the frigging maths, a discounted offering is inevitable. You can't do the maths? Let me assist.
3211 days ago
We have already demonstrated that not only is Servision (SEV) teetering on the brink of insolvency (HERE), has a ludicrously aggressive revenue recognition policy (HERE) but that also it announces deals as pre-placing ramps then patently does not deliver on them HERE & HERE. Now lets look at a pre-placing ramp from Brazil from April 2015. This is a shocker.
3211 days ago
Brought to you on Audioboom (BOOM). A few thoughts on why shares in er...Audioboom, are overvalued at 2.875p and why I see a placing as inevitable within the next few weeks.
3211 days ago
The story of the day is Frontier Resources (FRI) and Adam Reynolds. Yes we were in on the placing and have bought more pre bearcast but some folks are overpaying big time. Far be it from me to talk down the value of a stock we own but I do just that and urge folks not to be mad and overpay. Then it is onto Bahamas Petroleum (BPC), Phorm (PHRM), Fusionex (FXI) - target price 0p - Greka Drilling (GDL) - ditto - and Glenwick (GWIK)
3215 days ago
I start with today's placing news from Deltex Medical (DEMG). I do not reckon that this will be its last placing and its language stinks at every level. The money will be used for "working capital". Bollocks. It means to "fund our ongoing fucking losses". And there is more. Yes this is a bad language special. And if you are a Guardian reading loser who thinks the NHS is cash starved you will also be offended. I also look at Petro Matad (MATD), Petroceltic (PCI), Rose Petroleum (ROSE) and once again push Wandisco (WAND) for a statement. Is there a "strategic review" yet? How close are you to tits up time?
3215 days ago
MX Oil (MXO) has confounded its critics and delighted the rampers with details of the sale of its stake in the Aje field in Nigeria and a small placing at 1.25p. The deal looks great in headline terms but is it really that good?
3215 days ago
Rose Petroleum (ROSE) must by now be pretty close to running out of money and as such the only two questions are: when does it plan a deeply discounted placing and can it get one away at all? Either way it looks grim for its long suffering shareholders.
3221 days ago
Scancell (SCLP) has today issued results for the six months to 31 October 2015 which is jam packed with scientific waffle which is - I am sure - all terribly exciting and might get some Bulletin Board Morons buying the stock. That would help as the hard numbers on cash don't lie. It is placing ahoy, Scancell cannot dodge this bullet forever.
3223 days ago
Okay I am celebrating the impending departure of Afriag (AFRI) from AIM so might get a bit carried away in this podcast, there is a bit of bad langauge. Other than dancing on the PLC grave of Jabba The Hutt as he tries to spin this disaster I look at: Green Dragon Gas (GDG) - PLACING AHOY - Servision (SEV), Jiasen (JSI), TrakM8 (TRAK), Fusionex (FXI), Independent Resources (IRG) and Plexus (POS).
3223 days ago
Pantheon Resources (PANR) shares have plunged from 140p to just 90p since my pal the bear raider Evil Knievil bought 400,000 of them a couple of months ago - win some, lose some old boy! This is a mug punter fave but if I were a shareholder the question I would be asking is just how much cash is left in the kitty and when is the placing?
3223 days ago
Today's shock news from MX Oil (MXO) has seen its shares rcket. It is all game theory now and a binary bet. So what to do about the shares? What are they worth and at what price would I consider taking part in a placing? I also note that it is time that MX Oil started treating its shareholders fairly, if it does not behave like a proper company in what it says, does not say & does it will never be taken seriously
3227 days ago
MX Oil (MXO) has not announced it yet but then we do tend to announce these things for it. But the placing needed to bail it out has been completed...at just 0.5p.
3230 days ago
This almost feels like intruding on private grief, shares in MX Oil (MXO) now trading at just 0.875p - well below the 1p par value of the - now clearly struggling - placing, but I have just a few more questions that shareholders should be asking the company in light of yesterday's statement.
3231 days ago
It is not a good start to the week for MX Oil (MXO) as it has essentially confirmed my £2 million at 1p placing article from Friday. It is reshuffling the board, now considering asset sales, its shares are slipping and its moronic shareholders blame it all on Tom Winnifrith and are stating on twitter and on various chat room asylums that they are reporting me to the FCA.Where does one start?
3231 days ago
I would expect MXO Oil (MXO) to confirm on Monday at 7 AM the success or otherwise of its £2 million placing at 1p which I revealed here. While it is about it I wonder if it might update on the short term (its words not mine) production at Aje as we play spot the Puffin.
3233 days ago
Amazingly market abuser Chris Oil has not tweeted about this yet. But recent share price weakness at MX Oil (MXO) is now explained.
3234 days ago
I start with last night's/this morning's twitter tag team trolling of me by David Lenigas and Yusuf Kajee of Afriag (AFRI). I really feel pity for them and next time I go to Church ( December 24th) will pray for them. Then it is on to ADVFN (AFN) and its share price movement, to Blenheim Natural Resources (BNR) & African Potash (AFPO) an AIM tale of shame. Then I move into Riosslyn Data (RDT) and the looming placing, blinkx (BLNX) and Restaurant Group (RTN)
3237 days ago
It was all so predictable. On 6 January African Potash (AFPO) issued an RNS which was both utterly pointless but also just about credible enough to have the Bulletin Board Morons/Zak Mir frothing. The morons ploughed into the aftermarket - not noticing that the RNS was in fact just confirming that part of a deal already announced several months prior had been completed but that no financials were revealed - paying up to 2.1p per share. The crony capitalists said "thank you very much cannon fodder" on the back of the pump and today came the dump... a placing raising gross proceeds of £825,000 at just 1.7p. However...
3249 days ago
Sorry that material appeared late on this website today. I was out last night at a play on Christopher Street which some of you may well know well - that explains one part of the headline. Elsewhere I look at interims from Daniel Stewart (DAN) which is just a plain farce. Then onto Afriag (AFRI) and the attempted bribe and LGO Energy (LGO) the two Jabba The Hutt plays. Fraudster Rob Terry was a big fan of Daniel Stewart and also of Imaginatik (IMTK) which I discuss. Fitbug (FITB) is mentioned as - in more detail - is Scancell (SCLP) which seems to be pump priming for a placing.
3275 days ago
I make this two confetti issues by floundering LGO Energy (LGO) in the three months since Jabba The Hutt, aka David Lenigas, dissed me on twitter for saying a placing was inevitable. The bad news is that there is a far larger share issue still needed. The good news, for the fat Aussie share ramper at least, is that he sold most of his LGO shares (if not all) last year without disclosing it as he should have done. So it is not his problem.
Today hapless Neil Ritson
3285 days ago
How long can this joke go on? Floated at 10p, 18 months ago shares in Golden Saint now trade at just 0.035-0.04p as it has announced a placing to raise a £170,000 ( net £158,000) at 0.025p but it is still bust, insolvent, dead. What’s the point? Death is postponed but only for a few weeks.
3306 days ago
This podcast ends with me thanking many readers for making me laugh. Before that I look at Lenigas Cuba (CUBA) and suggest that all 2p investors contact the Financial Ombudsman now. Then I discuss the - unfashionable - idea of taking responsibility for our own actions. Then I cover the fraud Globo (GBO) before looking at LGO Energy (LGO) and Inspirit (INSP) where placings loom very soon indeed. Then I cover World Careers Network (WOR), Standard Chartered (STAN), PeerTV (PTV) and Getech (GTC).
3318 days ago
Back on August 28 2015 I reported that Scancell (SCLP) wanted to do a placing after its results the following week. Some of the quite deranged followers of this company took it rather badly but as the shares slipped talk of a placing abated. I stood by my assertion that Scancell wanted to place and that its balance sheet was indicative of a company that would place. Hmmm.
3326 days ago
Another day and another ramping announcement of sod all import from twitter moron fave CEB Resources (CEB). If the CEO is not appearing on a paid for interview on tips TV patting away daft questions from the Sith Lord Zak Mir, he is busy churning our more IR guff. But the big question he will not answer.
3331 days ago
No doubt Big Dave will tweet that he does not read my material but that I am 100% wrong. Just like he did when I said LGO Energy (LGO) was going to do a placing. Then it did one. So shall we double up Big Dave? When is Afriag (AFRI) going to do a placing? Methinks VERY SOON.
3334 days ago
Daniel Stewart (DAN) shares remain suspended because it can't publish its annual results until it does a placing otherwise the (piss poor) numbers will be heavily qualified. What is going on? Is there a wee problem?
3334 days ago
There is an old rule on AIM that the more RNS’s a company puts out the worse its share price performance since it is clearly just an exercising in ramping ahead of confetti issuance. In that vein I note that Mariana Resources (MARL) has this, so far in 2015, issued no fewer than 40 releases – more than 1 a week.
3348 days ago
In the wake of the recent dismal interim numbers LGO Energy (LGO) head honcho Neil Ritson yesterday gave a presentation at an investor conference and he rather gave the game away. When’s the placing Neil, my son?
3354 days ago
Earlier today I stated that Motive TV (MTV) was set to raise £400,000 at 0.1p and was passing the hat around. Well almost right, I guess I forced the company’s hand as the shares started to crumble and so it closed the book early and after hours announced that it had raised £350,000 at 0.125p. Given that the shares closed at 0.185p (but were trading at 0.22p as the placing was being done until I ruined the party) the discount is still enormous. This is a 22 billion rum ‘n coke – the statement published shows that someone is avin a bubble.
For starters the statement is headed “Issue of equity and investment by directors. “ Er well that is half correct.
3355 days ago
I suspected as much in today’s bearcast (HERE) Motive TV is passing the hat around yet again. Following a spurious and – ‘natch – upbeat RNS yesterday the shares hit 0.26p. However..
3373 days ago
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.
3398 days ago
LGO Energy (LGO) boss Neil Ritson has apparently emailed at least one shareholder pointing out that August is a dead month for placings so why would the serial confetti issuer be in a rush to issue more confetti. Well, perhaps because it is in debt and burning cash? So when do you think LGO Energy will next be issuing shares?
I think that the shares are a stonking sell at 1.7p as I explained HERE
The deadline for voting is midnight tonight (Tuesday).
3408 days ago
POS AIM casino dog Mosman Oil & Gas (MOSMN), is – I can exclusively reveal – right now struggling to get away yet another keep the lights on placing at just 1.75p a share. This story gets worse. And worse.
3447 days ago
Chinese AIM play Auhua Clean Energy (ACE) shares now trade at 14p. The company promised in December that it would release its annual results for calendar 2014 in April. It is now June and still no results.
At the half year the company claimed to have net cash of more than £4 million and to be profitable. So why is it doing a placing?
3449 days ago
We all know that Sefton Resources (SER) is running out of cash fast - it is down to £250,000 which is not enough to cover either its legal bills in fighting Jimmyliar Ellerton's spurious legal claims or the legal & AIM cash costs of doing a trasaction, if indeed it is able to do one. And so when's the placing?
3453 days ago
After the Schlumberger shares pump of last week in a brazen and shameless manner AIM Casino listed UK Oil & Gas is now passing the hat around in a quite brazen and shameless fashion.
We can exclusively reveal that on the back of the Horse Hill hoo hah
3464 days ago
At no-one is watching O 'clock on Friday, the POS US Oil & Gas (USOP) snuck out dismal results and a placing statement which contained an obvious lie and which only postpones death.
3475 days ago
Last week I forced a statement out of Rose Petroleum (ROSE) after stating HERE that it was seeking to raise £3 million at 0.3p - the shares were then 0.6p. Rose, pathetically, said that it was looking to raise £3-5 million but denied that any price had been set. Well Gotcha fellows.
Time for another rushed statement methinks from the AIM Casino listed dog. The shares
3592 days ago
Amara Mining (AMA) has announced a conditional-on-shareholder-approval 16p per share placing to raise gross proceeds of £14.6 million ($22 million) – ostensibly to enable further exploration of its Yaoure gold project in Côte d'Ivoire and to fund it to the point of making a construction decision for the project, including the delivery of a bankable feasibility study late this year. However, the company also faces some potential - albeit we think low risk - legal nasties…
3713 days ago
This has it all. I told you the shocking tale of the Mopowered (MPOW) AIM casino disaster story HERE yesterday. Today came news of a placing at 5p to raise £3.5 million (Gross). This just adds insult to the injury.
3786 days ago
Another day and another “contract win” announced by Avanti Communications (AVN) – natch the value is undisclosed. Friday’s Victor Meldrew “contract win” was – as I explained HERE – very peculiar indeed. And the directors are all making small share purchases. Its ramp ramp ramp time because Avanti desperately needs to do a placing.
Let’s start with the director share purchases so proudly trumpeted by arch bombast and uber-Welsh CEO David Williams. Well so what boyo? What about Caledonia? Caledonia who you say?
3806 days ago
This just looks all wrong. Even based on the numbers in the latest paid for PR piffle (I mean in-depth research note) from Edison, shares in Volex (VLX) are at 80p ludicrously overvalued. The very odd behaviour of the directors makes this smell even worse.
My pal Paul Scott has noted for a while that Volex commissions all sorts of research from folks like Edison and GE&CR urging mug punters to buy and that the research really is very fourth rate. Anyone who had followed the advice of the prostitutes of the analyst’s world (give us the money and we will say BUY) would have lost out. The company is right now half way through a $32 million rescue placing and open offer.
The placing is underwritten but the directors seem keen that the open offer at 75p is taken up. And so we have seen a raft of directors proud to announce to the market in recent days that they have bought shares at 80p and above. WTF?
3834 days ago
blur (BLUR) has been bailed out by a hugely discounted fund raise today at just 75p. Existing investors face 37% dilution but even assuming the maximum $20 million is raised this dog with fleas is not out of the woods yet as the note just out from the broker that organised this placing (N+1 Singer) makes painfully clear.
Singer insists that the company will have enough cash to see it through to profitability (which it sees happening in calendar 2016). Hmmmmmm. I flag up a couple of issues.
3836 days ago
I wanna tell you a story…it is a true story but not from the great Max Bygraves. It is from me and from a company meeting a while back and it is why I almost despair of some on public markets.
I shall not name the company but it is trying to raise a couple of million and for some reason I was at the presentation the other week. The two key men sounded pretty impressive and handled questions about strategy, assets and that sort of matter pretty well. I asked about pay and there was no troughing going on.
And so I asked how much cash they had invested in the company. Er…..
One fellow said he had vended in the odd asset – which did not exactly seem core going forward. The other said he had been granted options. “So to answer my question you have not actually stuck a penny of your own cash in have you?” Er, um, ah, but we could be earning far more elsewhere, blah, blah, blah.
I persisted. So how much are you putting into the placing then? I have options said one. The other said that if there are any shares left he might take a few.
As I explained that options were a one way bet it was clear that my questioning was not going down well. The look on their faces suggested that I had asked “how many time have you masturbated this week?” But that is not what I asked.
As The Sheriff of AIM, I merely tried to establish whether their interests were aligned
3930 days ago
Back in November I flagged that having puffed its shares up to 11.6p, AIM Cesspit dog tech stock Vipera (VIP) was planning a £500,000 fund raise at 6p. The shares tanked and the placing was pulled. So to plan B.
First up was a trading statement on 20th November 2013 saying that FY revenues would be well ahead on 2012 and 1.4 million Euros. Sounds great. But hang on Henry, first half revenues were 732,000 Euro so this cannot exactly be viewed as a growth situation can it?
3991 days ago
EMED Mining (EMED) has announced that it has conditionally raised £5.5 million (before expenses) to “be largely applied in funding engineering and related works in connection with the re-start of the Rio Tinto copper project and for general working capital”.
4014 days ago
Why did AIM Cesspit listed Summit (SUMM) announce such a strange deal with Prof Steve Davies yesterday? To get the Bulletin Board morons excited of course. There is a placing looming, you see.
4021 days ago
6 bullish RNS releases since September 17th. Rampity, rampity, ramp. All we need now is an independent/ paid for research report produced by uber-posh police assaulting pisshead, oops I meant to say respected mining analyst, Charlie Gibson of Edison setting a telephone number target price for the shares. Then Private Investors could get totally screwed by Sovereign Mines of Africa (SMA).
4279 days ago
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.
