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Penny Share Review 492

Monday 11 May 2009

Sunday’s Observer reiterated that property developers the Candy brothers had lifted their stake in Metals Exploration (MTL) through their investment arm Solomon Capital, to 44%. The piece noted their £11.5m investment and belief that the situation was significantly undervalued, and the Daily Mail on Saturday also highlighted the story. The shares were 0.25p healthier at 13.25p following this press attention.

Nighthawk Energy (HAWK) comprised part of Derek Pain’s “No Pain, No Gain” section of The Independent on Saturday, being the only exploration play in Mr. Pain’s portfolio. He commented that the shares seem to be “coming to life” and noted that the amount a buyer pays for a minority stake in its Jolly Ranch project will be interesting, as he hears the deal could provide a “mouth watering valuation “. The stock was 2.25p higher at 48.25p during Monday morning’s trading.

Today’s Daily Express provided some statistics regarding AIM competitor PLUS Markets (PMK), reporting that only one new company joined the market in April and that, so far, Plus companies have raised £8m though joining this year. Shares in the Company itself were 0.125p lower at 4.875p this morning.

Saturday’s Daily Express pointed out speculation that Scotty Group (SCO) has lined up “multi-million pound contracts”, and the shares were 3.00p ahead at 55.50p earlier today.

Prices above taken at around 10:49am on Monday, 11 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.

EMED Mining (EMED): Final Results.

Matra Petroleum (MTA): Holdings in Company.

Oak Holdings (OAH): Re. Signing of Lease and Acquisition.

Oxford BioMedica (OXB): Bavarian Nordic’s Re-filed Lawsuit.

Petards Group (PEG): Final Results.

Petrel Resources (PET): Institutional Placing.

Renewable Energy (REH): Sale of Wave Energy Intellectual Property.

ValiRx (VAL): Issue of Equity.

Look out for this week

Monday, 11 May – Results from EMED Mining (EMED) and Petards Group (PEG). Regional PMIs (April).

Tuesday, 12 May – RICS UK Housing Market Survey (April). UK Monthly Industrial Production Figures (March).

Wednesday, 13 May – NIESR Monthly GPD Estimate (April). Monthly UK Unemployment Figures (April).

Thursday, 14 May – CML Regulated Mortgage Survey (March).

Friday, 15 May – Company Winding Up and Bankruptcy Petition Statistics (Q1).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 18 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.