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Penny Share Review 192
Monday 14 July 2003
Monday's Financial Times and Financial Mail on Sunday, both report on today's new issue of African Diamonds (AFD). The Chairman John Teeling plans to have a fully operating mine within three years, reports the FT. The shares remained unchanged from the opening mid price of 8.25p.
Cater Barnard (CRB.L) receives a brief mention in the 'market movers' column of Saturday's Independent, after raising £190,000 from the sale of its American unit, Cater Barnard US. The stock traded unchanged this morning at 0.40p.
The Times on Saturday reports on suggestions that Electric Word (ELE), may one day prove attractive to Informa, whose Chairman is non-executive director, Peter Rigby. Electric Word was unmoved this morning at 6.38p.
Saturday's Daily Mail reports on whispers of a "pending bullish drilling report" from Griffin Mining (GFM) in China. Overexcited bulls "roar that its assets imply a share price of £2-plus". The shares motored up 3.50p to 16.00p, representing a gain of 28% since Friday's close.
In a Sunday Times article we learnt that Patrick Evershed, a manager of the New Star Select Opportunities fund, has been investing in Oxford BioMedica (OXB). In response to the Group's update today on its Trovax drug development, the shares rose by 3.25p (18.8%) to 20.50p this morning.
One of Britain's richest Asian families, the Jatanias, are believed to be trying to buy Ronson (RON.L), according to the Sunday Times. The Jatanias would like to control the whole company, including taking on Ronson's listing, and are likely to move the brand into home products. Ahead of the planned delisting on Tuesday 15 July, the stock increased by 0.04p to 0.19p.
Under the headline, "Put Stanelco in your tray", the Sunday Telegraph tips Stanelco (SEO) as a 'Buy', after last week's announcement that a technology has been developed which will enable shoppers to buy their vegetables in bio-degradable trays made of potato starch. The Sunday Telegraph along with today's Times reports that the announcement has attracted the attention of J Sainsbury and McDonald's. The equity moved up 0.50p to 3.75p on Monday morning.
Derek Pain, in the Saturday Independent, recommends Wigmore (WGT.L) as a buy and believes the support services company is "laying the foundations for what could emerge as a successful and substantial organisation". Derek seems to suggest the stock is one to tuck away, as he does "not expect early excitement". The article mentions that the Group's subsidiary, Speymill,could provide the main avenue for growth, especially in the profitable niche of casino and bingo hall development. Derek concludes by saying that if the unexpected is avoided, the group should make a profit next year. The shares held firm at 2.00p this morning.
According to Saturday's Times, shares in Virotec International (VTI), rose 1.25p on Friday, after a UK investor roadshow by the Chairman. The Daily Express reckons the shares increased mainly because of "speculative buying". The stock nudged up 0.63p this morning to 10.88p.
(NB - Prices quoted this morning were taken at 10.55am on Monday 14 July 2003)
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.
Griffin Mining (GFM) - Kolar Goldfields.
Lombard Medical (LOM.L) - Delising details.
Oxford BioMedica (OXB) - Trovax update.
Look Out For This Week
July 14, Monday - UK Producer price index.
June 15, Tuesday - UK Inflation report.
June 16, Wednesday - UK Labour market report.
June 17, Thursday - Nothing of note.
June 18, Friday - UK Provisional M4 lending.
The next Penny Share Review will be posted on Monday, 21 July 2003.
Compiled by J Robertson.
 
Penny Shares Online - penny shares research and information service.
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