register and receive 3 compimentary small cap company reports

Penny Share Review 270

24 January 2005

Press

The Sunday Telegraph recommended to “take another look” at Advanced Medical Solutions (AMS), as the share price ignores the progress that has been made. Gartmore selling down its 3% stake to around 1% has held the shares back, but the newspaper advised investors to “keep buying”. The shares appear to have responded to the coverage as they have moved forward by 1.00p to stand at 9.38p.

Mining investor Bruce Rowan took a stake in Conroy Diamonds (CDG) following a fundraising at 2.5p, which saw the shares rise in trading, noted the Independent. The shares were up 0.13p this morning, trading at 3.75p.

The Independent on Saturday wrote that Entertainment Rights (ERT) has “moved from being a gambler’s stock to a serious investment proposition” following the He-Man DVD distribution agreement in the US. The paper added, “cracking the US market is key for 2005.” The shares were unchanged at 16.25p.

Galahad Gold (GLA) is featured in The Sunday Telegraph’s small cap comment. The paper reckoned that with the shares “well off their peak of 27.5p last February, now could be a good be a good time to buy”. The shares were up 1.00p in trading this morning to stand at 11.75p.

Greenwich Resources’ (GRWA) final results failed to impress, according to Saturday’s Independent. The shares were off 0.10p and stood at 2.45p.

Monday’s Independent speculated that Oxford BioMedica’s (OXB) suitor could be Vernalis, whose chairman Peter Fellner, has grand plans to consolidate a UK biotech sector that is still characterised by sub-scale players with too few drugs, too little money and too-high losses. The paper suggests that OXB’s cancer products would boost Vernalis’s drug pipeline and that there would be a useful fit in the area of neurology, but has a word of caution for speculators who are anticipating a cash deal. The Independent reckons that any deal involving Vernalis will be an all-share affair. The report appears to have dampened enthusiasm with the shares down 1.00p, trading at 21.75p.

Scotty Group’s (SCO) downbeat trading statement, which warned that full year results would be materially below expectations, was picked up by Saturday’s Independent. The shares were unchanged at 2.63p.

Sopheon (SPE) featured in The Independent on Saturday’s ‘week in review’, which noted, “disappointing recent sales growth ought to put off the cautious investor, but Sopheon isn’t for them. This is high-risk, high reward, and worth a punt.” The shares were unchanged at 26.00p.

The Mail on Sunday picked up on the suspension of Voss Net’s (VOS) shares following the recent spike in the price. The paper highlighted that the shares almost doubled in the two weeks prior to suspension and given that the Company has no trading businesses and no assets to speak of, it is no surprise that eyebrows have been raised. “There is sure to be an intriguing little tale lurking here”, it concluded. The shares were suspended at 3.38p.

Monday’s prices, quoted above, were taken around 10:20 on 24 January 2005.

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.

Caledon (CDN) - Drilling Report.

Earthport (EPO) – EMM disclosure.

Europa Oil & Gas (EOG) – Spudding of Bilca-2, Romania.

ILX Group (ILX) – Trading update.

London & Boston (LBN) – Trading statement.

Minco (MIO) – Acquisition.

Ultimate Finance Group (UFG) – Trading statement.

Look out for this week

Monday, 24 Jan – nothing of note.

Tuesday, 25 Jan – nothing of note.

Wednesday, 26 Jan – UK GDP (Q1), Bank of England MPC minutes.

Thursday, 27 Jan – Osmetech (Interims), Scotty Group (Finals).

Friday, 28 Jan – nothing of note.

The next Penny Share Review will be posted on Monday, 31 January 2005.

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.