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Penny Share Review 530

Monday 08 February 2010

The Independent on Sunday highlighted comments from Dekel Golan, chief executive of Chaarat Gold Holdings (CGH), who intends to have the Company’s shares traded on an alternate exchange to AIM by the end of 2010. Mr Golan believes that the valuations of certain resources companies on AIM do not compare well to those on markets elsewhere, like Toronto and Hong Kong. Despite Mr Golan’s apparent frustration, shares were 3.5p higher this morning at 41.5p.

The same theme continued in Monday’s version of The Independent, this time mentioning Vatukoula Gold Mines (VGM) and Metals Exploration (MTL) as candidates for a shift to a better-rated market. Always well-traded, VGM’s shares were up a fraction at 2.105p, while the comparatively less-liquid MTL was level at 11.375p

Impending oil drilling activity around the Falkland Islands has apparently prompted Argentine anger, amidst new claims over rights to grant the licences as a continuation of the argument over sovereignty. Rumours are also circulating that there may be a flotilla of boats sent to disrupt the arrival of Ocean Guardian drilling rig, which is currently being towed to site. Large articles in today’s The Guardian and The Sunday Times covered the near-term arrival of Ocean Guardian, which is first to be used by Desire Petroleum (DES) and, in turn, Falklands Oil & Gas (FOGL). This morning, both Desire and FOGL shares were unchanged at 106.5p and 148.5p, respectively.

A progress report from its Sugarloaf prospect saw Empyrean Energy (EME) gain a column inch in Saturday’s Daily Express, after the shares rose on Friday. The stock improved again today by 0.75p, to sit at 12.25p at the time of writing.

The prices above were taken at around 10:23am on 8 February 2010.

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.

Adalta Real (ADA): Business Update.

Angel Biotechnology (ABH): Angel announces contract with Progenteq.

Alliance Pharma (APH): Acquisition and Placing.

CareCapital (CARE): Disposal.

Galleon Holdings (GON): Acquires a stake in US strategic partner.

Petards Group (PEG): Trading Statement.

Plant Impact (PIM): Arysta agreement.

Plus Markets Group (PMK): Statement re Board changes.

Look out for this week

Monday, 8 February – UK Regional PMI; Bank of England narrow money.

Tuesday, 9 February – January BRC-KPMG Retail Sales Monitor; January RICS UK Housing Market Survey; December UK Trade.

Wednesday, 10 February – UK December monthly industrial production; Bank of England inflation report; January NIESR Monthly GDP Estimates.

Thursday, 11 February – UK CML quarterly mortgage arrears & repossessions data.

Friday, 12 February – UK December CML Regulated Mortgage Survey; February Financial Statistics.

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 15 February 2010.

Compiled by Andrew Thacker




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.