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Penny Share Review 271

31 January 2005

Press

The Daily Mail on Saturday briefly reported that broker Dresdner Kleinwort Wasserstein recommended Galahad Gold (GLA) as a ‘Buy’ at 12p, as the share “Offers extraordinary gearing to higher metal prices”. Shares in Galahad nudged up 0.50p on Monday to 13.75p.

The ‘Small Cap Comment’ section of the Sunday Telegraph tipped Griffin Mining (GFM) as a ‘Buy’ at 29.5p, as the opening of the gold and zinc mine is on schedule and on budget, which should start to move the shares. Griffin is expected to make a pre-tax profit of $7.7m this year and $28m next year. The shares moved higher by 2.25p on Monday morning.

Derek Pain, writing in Saturday’s Independent recapped on the troubles at Scotty Group (SCO), which is “yet another example of the difficulty of translating high hope and high tech into old fashioned cash”. He believes it “may be worthwhile picking up a few as a lockaway. They may come right”. Scotty Group shares remain suspended.

Saturday’s Daily Mail reported that the shares in Silentpoint, (SLP) rose on Friday, as traders guessed this could be connected to its 40% stake in Silvermines Media, which was suspended last week pending the announcement of a reverse takeover. The stock rose by 1p on Monday to trade at 13.25p.

All Monday morning prices above were taken just after 10am on Monday 31 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.

Air Music Media (AMU) – Trading update.

Albidon Ltd (ALD) – Update Report.

CybiT Holdings (CYB.L) – Sales for extended service.

DawMed Systems (DSY) – Contract Win.

EiRx Therapeutics (ERX) – Acquisition.

IDN Telecom (IDN) – Final results.

Gippsland (GIP) – Update report.

Meriden Group (MRD) – Final results.

Minco (MIO) – Interim results.

MOS International (MOI.L) – Contract win.

Netcall (NET) – Interim results.

Ormonde Mining (ORM) – Project update.

Stanelco (SEO) – Agreement.

Virotec Int (VTI) – Cash flow report.

Look out for this week

Monday, 31 Jan – Netcall and Minco Interim results. IDN Telecom and Meriden Group Final results. CBI Distributive Trades Survey.

Tuesday, 1 Feb – UK Consumer Credit and Mortgage Approvals.

Wednesday, 2 Feb – US Fed interest rate decision.

Thursday, 3 Feb – ECB interest rate decision.

Friday, 4 Feb – G7 Meeting in London.

The next Penny Share Review will be posted on Monday, 7 February 2005.

Compiled by Jason Robertson

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