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Penny Share Review 491

Tuesday 05 May 2009

The Daily Mail on Saturday reported that shares in Central China Goldfields (GGG) were better off on “hefty turnover”, which suggested that a large overhang had been placed. The price was 0.50p healthier at 3.125p during this morning’s trading, though this could have more to do with the announcement released regarding a mining agreement (please see below).

Frontier Mining (FML) appeared in Saturday’s Daily Express, which noted increase in the share price following news of a $14m fundraising, the proceeds of which will be used to invest in existing operations. The upward movement failed to continue into this week however, and the stock was 0.375p weaker at 4.625p earlier today.

Director buying in Symphony Environmental Technologies (SYM) last week led to an increase in the stock, according to the Daily Express on Saturday, though there was no change in the price this morning, which remained 3.75p.

Prices above taken at around 11:27am on Tuesday, 5 May 2009.

Announcements

The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.

African Eagle Resources (AFE): Preliminary Results.

Amphion Innovations (AMP): IP License Agreements.

Central China Goldfields (GGG): Dong Mao Huo Mining Agreement.

Earthport (EPO): Change of Adviser.

Empyrean Energy (EME): Farmout Agreement Entered for Block B.

Finders Resources (FND): Result of EGM.

Galleon Holdings (GON): Enters Online Gaming Market.

GMA Resources (GMA): Placing to raise £1,020,000.

Northern Petroleum (NOP): Additional ATI Warrant Irrevocables.

Resources In Insurance Group (RIIG): Sale of Loss Adjusting Division (CPA) Completed.

Rheochem (RHEP): Appointment of Sole UK Broker.

Rift Oil (RIFT): Deal with Multi-National Oil Company.

Timestrip (TIME): Luton & Dunstable Hospital orders TimestripIV.

Vialogy (VIY): Trading Statement.

Look out for this week

Tuesday, 5 May – Results from African Eagle Resources (AFE). CIPS Construction PMI (April).

Wednesday, 6 May – CIPS Services PMI (April). Nationwide Consumer Confidence Index (April).

Thursday, 7 May – Bank of England Interest Rate Decision.

Friday, 8 May – UK Producer Prices (April).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 11 May 2009.

Compiled by Chris Richards.




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddesdon, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.