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Penny Share Review 493

Monday 18 May 2009

African Eagle Resources (AFE) featured in The Independent today under the headline “African Eagle soars on gold find”. The article reiterated the Company’s 700,000 oz find last week, noting that the business will need to find a partner in order to extract the gold, but that previous increase in the stock had largely been driven by the nickel operation. The price was 0.25p healthier again earlier today, at 4.625p.

The Daily Mail on Saturday reported “revived investor appetite” for Frontier Mining (FML), noting increase in the shares on heavy volume and significant rise over recent weeks. The stock continued to move forward this morning, where it added 1.25p to reach 9.50p.

Mariana Resources (MARL) appeared as the “Tiddler to watch” in Saturday’s Times, which pointed out that the Company had raised more than it expected in the recent Placing. The piece went on to highlight silver miner Hochschild’s 14% stake and that broker FinnCap believes the valuation should “soar” as drilling commences in Chile. The shares were 1.00p better off at 5.00p following this press attention.

Prices above taken at around 10:00am on Monday, 18 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): Employee Share Options.

Eckoh (ECK): Notice of Results.

Minco (MIO): Drilling Report.

Oxus Gold (OXS): Final Results.

Petmin (PTMN): Announcement re: Rights Issue / Cautionary Announcement.

Petroceltic International (PCI): Algerian Operations Update.

Proventec (PROV): European Distribution Agreement.

SmartFocus Group (STF): M and M Direct Makes Further Investment.

Symphony Environmental (SYM): Launch of d2w Oxo-biodegradable Plastic in Lebanon.

Look out for this week

Monday, 18 May – Results from Oxus Gold (OXS).

Tuesday, 19 May – UK Monthly Inflation Figures (April).

Wednesday, 20 May – CBI Monthly Industrial Trends Survey (May).

Thursday, 21 May – CML Mortgage Lending Figures (April). UK Monthly Retail Sales Figures (April).

Friday, 22 May – UK Monthly Service Sector Figures (March).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Tuesday, 26 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.