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Penny Share Review 272

07 February 2005

Press

Aerobox (ARX) featured in the AIM Investor section of Weekend’s Business. The article reviewed the benefits to airlines of the Company’s aluminium cargo boxes and noted that it will have to ramp up sales dramatically for it to hit broker Seymour Pierce’s forecasts of £10m in turnover and £1.8m in pre-tax profit. ARX reckon it has 18-months before rivals gain certification for similar boxes, but in the meantime the newspaper believes that the share price “will react to trading rumours between now and the next results, probably in March, which should include guidance in whether the 2005 numbers are achievable. Until there’s more certainty, the shares are an interesting speculation.” The shares were ahead by 1.25p in trading this morning at 19.25p.

Saturday’s Independent reported on the share price raise of CFA Capital (CFP.L) following Ian Buckley’s take over of the chairmanship from Stephen Barclay. The shares had edged south by 0.01p to stand at 0.38p.

Saturday’s Guardian picked up on the news that Desire Petroleum (DES) was close to raising up to £20m to start exploratory drilling in the Falklands”. The shares were up 1.50p to trade at 53p.

The clearance of a stock overhang in Gaming Corporation (GMC.L) sent the shares forward in trading on Friday. The Times from Saturday noted that Eyeconomy sold its 12% stake, while investors were also impressed by the fact that GMC had leapt up the monthly Hitwise league table of online betting sites to take second spot behind Betfair. The shares were up by 0.75p to stand at 6.50p.

The Financial Mail on Sunday reviewed Media Square’s (MSQ) recent corporate activity and increase in client base, which includes Asda, Boots, HBOS and Marks and Spencer. The Company has also been making “astute disposals” that leaves it with £20m in the kitty to fund more deals. It has been attracting the attention of fund managers and brokers. Corporate Synergy has made the Group one of its top AIM picks for 2005, while Framlington’s AAA-rated head of smaller companies, Roger Whiteoak, added 740,000 shares to his fund’s stake last month taking its holding to 6.72%. The shares were up 1.75p to trade at 26.50p.

Minco’s (MIO) drilling activity in Mexico got a mention in the Financial Mail on Sunday, as it’s looking to buy a 450-hectare site in partnership with the Salas family in the region where the Humphrey Bogart film, The Treasure of the Sierra Madre was set. The Minera Sisa project is estimated to have one million ounces of gold and when the deal is completed, Minco plans to turn the site from a small mine into an open pit project. The Company gave a brief mention of the Minera Sisa project in this morning’s announcement, with the main focus being on the award of the bankable feasibility study to MICON International. Minco also featured in the Independent on Saturday’s review of the week. It topped and tailed its comment with the following, “Gamblers ought to be attracted to this mining company, which has a steady stream of news due this year” and “Have a punt”. The shares were up 0.50p to stand at 16.50p.

The Independent’s Monday morning ‘Small Talk’ column appeared to have been steered in the wrong direction about events at Oxford BioMedica (OXB). The broadsheet seemed to believe that “a deal could be less than a fortnight away”, with the stumbling block being what role the founders of the Company would have in the enlarged business. However, OXB announced on Monday morning that merger talks had ended. The shares were off by 5.00p to trade at 19.50p in reaction to this morning’s news.

All Monday morning prices above were taken around 10.20am on Monday 7 February 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.

Access Intelligence (ACC) – Notice of results.

Claims People (CLM.L) – Notice of results.

EiRX (ERX) – Merck Agreement.

Hereward Ventures (HEV.L) – Acquisition.

Investment Management Holdings (IMH) - Further re EGM.

London Asia Capital (LDC) – Investment.

Minco (MIO) – Feasibility Study.

Oxford BioMedica (OXB) – Termination of merger talks.

Patsystems (PSY.L) – Final results.

Southern Africa Resources (SRU.L) – Drilling Report.

Zi Medical (ZIM.L) – Trading update.

Look out for this week

Monday, 7 Feb – Patsystems (F) Invox (I).

Tuesday, 8 Feb – nothing of note.

Wednesday, 9 Feb – UK industrial production (Dec).

Thursday, 10 Feb – UK MPC interest rate decision.

Friday, 11 Feb – nothing of note.

The next Penny Share Review will be posted on Monday, 14 February 2005.

Compiled by Andrew McLintock

Penny Shares Online - penny shares research and information service.