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Penny Share Review 534

Monday 08 March 2010

Today’s Independent noted that the recent earthquake in Chile had caused production to halt at many of the country’s mines, consequently pushing up copper prices. The piece commented that whilst this was naturally dreadful for the people and businesses of Chile, the share price of Discovery Metals (DME), which has copper assets in Botswana, had increased. It continued to outline expectation of an announcement detailing that the Company is about to sign an off-take agreement and concluded, “there is more than enough happening in the coming weeks and months to support further share price gains.” The shares were 1.25p higher at 45.50p earlier today.

The Financial Times today included Imaginatik (IMTK), providing an overview of the Company and drawing attention to support earlier in its development from Finance South East, a not for profit organisation. The shares were unchanged at 4.50p this morning.

Director buying in Summit Corporation (SUMM) was pointed out by Saturday’s Daily Mail, going on that volumes suggested investors were “keen to get on board as well”. The momentum appeared to spill over into this week, where the shares were 0.50p ahead at 5.75p.

The prices above were taken at between 12:30 and 12:45 on 8 March 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.

1st Dental Laboratories (FDT): Holdings in Company.

Amphion Innovations (AMP): Notice of Results.

COMS (COMS): Distribution Agreement.

DM (DMP): Final Results.

Galleon Holdings (GON): Launch of SSS in India with ESPN STAR Sports.

IDOX (IDOX): Grant of Share Options.

Pantheon Resources (PANR): Operations Update.

Renewable Energy Holdings (REH): Preliminary Results.

Rheochem (RHEP): Acquisition of Remaining 50%.

Symphony Environmental (SYM): Notice of Results.

Look out for this week

Monday, 8 March – UK Regional PMI (February). Results from DM (DMP) and Renewable Energy Holdings (REH).

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

Wednesday, 10 March – UK Monthly Industrial Production Figures (January). NIESR Monthly GDP Estimates (February).

Thursday, 11 March – Nothing of note.

Friday, 12 March – CML Regulated Mortgage Survey (January).

Diary items source: Fidessa.

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

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.