register and receive 3 compimentary small cap company reports

Penny Share Review 163

Monday 16 December 2002

The Weekend's Comments

Alizyme (AZM) featured in The Independent on Sunday, as the 'Punting in the City' column reviews its 'buy' recommendation. It remains bullish on the drug prospects front, but points out that some investors are slightly concerned about the financial situation. The biggest worry is that its cash is set to run out by the end of 2003, however the article notes, "its product-testing schedule should be completed by then. Once that it is over, the Company can go into hibernation mode, operating on very low costs." Expectations are that news about its four main treatments will be forthcoming during 2003. "With several products for obesity and diabetes nearing the end of clinical trials, it's likely that GSK or one of its rivals would rush to form a partnership to market the drug. If that happened, the cash position would be transformed overnight, raising its profile significantly." The shares are "a gamble" and market sentiment is against them but, "…a sliver of good news would reverse that, and Alizyme is top of the list of those best placed to deliver, say analysts." The shares at 10.46 were down 0.25p at 31p from Friday's close.

The Sunday Times, in its 'Sharewatch' column highlights Cambridge Mineral Resources (CMR) as a mining tiddler that "is worth taking a look at." The price of gold, its at a three year high, provides the background for the column's interest, but it is the appointment of Mike Thomsen and Gary Massinghill, two Newmont executives who were involved in appraising the Company's project in Lomero-Poyatos, and the recent resource report from SRK Consulting that upgraded the deposit to at least 2m ounces of gold that excites. The article concludes, "At 10.5p, the shares are half the price of a year ago, despite the considerable progress made." At 10.44 the shares were up 0.5p to 10.75p from Friday's close.

Eurasia Mining's (EUA) upbeat comments about its drilling project in the Urals get a brief mention in Saturday's Independent. The shares were unchanged from Friday's close at 9.75p.

The Sunday Telegraph reviews the recent estimate updates released by Griffin Mining (GFM), which indicated that the resource was 6.5 times greater than previously thought. The newspaper cautions that investors should be wary of "early-stage mining projects", but that "on the face of it, this share should have a lot further to go. Buy." The shares were up 0.75p at 13.5p from Friday's close at 10.47.

A 5.25m trade in MacLellan Group (MLG) rated a mention in The Times from Saturday. The rumours were that Scottish Widows, which had an 8.7% interest, has been rejigging its portfolio after a change of fund manager. The shares were unchanged from Friday's close.

Saturday's Guardian noted that the shares in Symphony Plastic Technologies (SYM) held steady despite rumours that the EU "will unveil a directive on the use of biodegradable plastic next year." There were also whispers that Symphony is in talks with Bunzl, the FTSE 100 Company, who want the rights to distribute the Company's bags.

Today's 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.

IDN Telecom (IDN) - Placing, Listing & Dir. Holdings.
Mean Fiddler Music (MEF.L) - Granting of Licence.
Virotec Intl Ltd (VIR.L) - Update on Activities.

Look Out For This Week

16 Dec - No major data scheduled
17 Dec - UK inflation (Nov), US inflation (Nov), industrial production (Nov).
18 Dec - UK MPC minutes (Dec), unemployment (Nov), Germany Ifo business climate index, Eurozone inflation (Nov).
19 Dec - UK retail sales (Nov), Eurozone industrial production (Oct)
20 Dec - UK business investment Q3, US GDP Q3.

Compiled by Andrew McLintock

Penny Shares Online - penny shares research and information service.




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, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.