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Penny Share Review 496

Monday 08 June 2009

Braemar Group (BRG) was mentioned in today’s Daily Express, in an article that concerned the proposed listing of Braemar UK Agricultural Land, which will be raising between £5m and £22.5m in the process. BRG will have a significant stake and the article quoted CEO Marc Duschenes’ belief that the sector it operates in is not in recession. This news was also highlighted by today’s Independent, though BRG’s shares were unchanged at 3.00p earlier today.

The Mail on Sunday drew attention to the bid from Plus Markets listed Worldwide Natural Resources for Condor Resources (CNR). The article commented that, with the bid worth just £1.5m, “…don’t expect it to knock Rio Tinto off the front pages just yet.” This followed Condor’s rejection notice of the offer on Friday, picked up on by Saturday’s Daily Mail, and the stock was 0.05p better off at 0.775p during early trading today.

Director dealing in FfastFill (FFA) was pointed out by the Daily Express on Saturday, though the shares remained unchanged at 6.25p following this attention.

The Mail on Sunday provided a review of Immupharma (IMM) and its Lupuzor Lupus drug. The piece concluded, “… most brokers believe the shares will continue to rise and could even double by next Summer. Investors who bought at 70p should sell 25 per cent to take some profit but keep the rest. New investors might consider a punt at these levels.” The positive momentum appeared to spill over into this week, where the stock increased by 1.00p to 84.50p.

The Independent today featured Nighthawk Energy (HAWK), highlighting that the recent Jolly Ranch deal values the project at 47p per share, making “something of a mockery of Nighthawk’s closing price of 44.5p on Friday.” It went on to suggest that this fact could inspire merger and acquisition activity. Meanwhile, the “No Pain, No Gain” section of The Independent on Saturday noted that Mr. Pain thought the deal looked pretty good, despite initial market reaction. He went on to note Daniel Stewart’s 102p target and commented that this was “far from outrageous”. The shares were 0.25p healthier at 44.75p this morning.

Prices above were taken between 10:21 and 10:23am Monday, 8 June 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.

Fulcrum Pharma (FUL): Directorate Change.

Mavinwood (MVW): Board Changes.

Networkers International (NWKI): Joint Venture Agreement.

Origo Sino-India (OSI): Directorate Change and Change of Registered Office.

Scotty Group (SCO): Contract Win and Trading Update.

West African Diamonds (WAD): Guinea Production & Exploration Update.

Look out for this week

Monday, 8 June – Bank of England Reverse Gilt Auction.

Tuesday, 9 June – RICS UK Housing Market Survey (May). BRC-KPMG Retail Sales Monitor (May).

Wednesday, 10 June – UK Monthly Industrial Production Figures.

Thursday, 11 June – NIESR Monthly GDP Estimates (May). CML Regulated Mortgage Survey (April).

Friday, 12 June – Bank of England Quarterly Bulletin (Q2).

Diary items source: Fidessa and The Daily Telegraph (Monday, 8 June 2009).

The next Penny Share Review will be posted on Monday, 15 June 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.