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Penny Share Review 283

25 April 2005

Press

The Mail on Sunday featured a piece on Chinese gold miners, Afcan (in which Caledon Resources – CDN.L – holds a stake) stating that the Company is to join AIM in a placing arranged by Seymour Pierce. Interpretation of this news has not affected Caledon’s share price, as it remained unchanged at 5.13p this morning.

A poor share price performance of late from Gladstone Group (GLD) was reported in Saturday’s Daily Express. The article did, however, mention the fact that a company director had recently invested £55k, perhaps indicating a belief that this downward turn may be temporary. The shares were unchanged at 23.00p this morning.

The hope for positive news in the form of today’s announcement (See below) caused the shares in Griffin Mining (GFM) to move ahead, according to Saturday’s Express. This reaction was compounded, as the shares added a further 1.00p moving to 35.25p this morning as investors interpreted these developments. Saturday’s Guardian noted a poor start for newcomer Intandem Films (IFM), as it fell to 4.00p after a placing at 5.00p.There followed a slight resurgence in the price and Monday morning’s trading saw no change to this at 4.38p.

Saturday’s Daily Express reported a nudge forward in the price of Petards Group (PEG) and attributed this to solid results, which are expected next month. The shares remained at 1.55p during Monday morning’s trading.

A fall in the share price of PlaneStation (PTG) was noted in Saturday’s Daily Telegraph after a block of 22m shares was purchased and subsequently sold on in two separate lots, whilst The Times on Saturday suggested that an announcement could be imminent informing the market that a US charter airline will start flights from Kent International. Regardless of this speculation, Monday morning’s trading saw the share price unchanged at 11.50p.

Surgical Innovations (SUN) featured in this weekend’s Financial Times, which provided commentary on its performance. The increase in profits and diversification into alternative markets were mentioned along with the notion that the Company hopes to see an increase in institutional interest. The shares made a positive move increasing 0.13p to 2.38p this morning.

A price increase in the shares of Tandem Group (TND) was picked up on in Saturday’s Daily Telegraph, following encouraging results last week that demonstrated a healthy increase in pre-tax profits. This sentiment was also mirrored in Saturday’s Daily Express. The shares remained at 23.50p during Monday morning’s session.

Talk of a possible deal was not strong enough to shift the price of Tanfield Group (TAN), noted Saturday’s Daily Express. However, an increase of 0.75p was seen this morning as the shares enjoyed a rise to 21.50p

Rumours of a ‘major US deal’ were held responsible for a share price increase in Virotec International (VTI) by the Daily Express on Saturday, although enthusiasm would appear to have stagnated as the shares settle unchanged at 26.50p this morning.

The Guardian on Saturday pinned an increase in the share price of Zambezi Resources (ZRL), on the anticipation of positive news from the Company. Monday morning saw no announced developments and the price was unmoved at 19.50p.

Today’s Daily Telegraph reported that ZI Medical (ZIM.L) is expected to announce a takeover by Oxford New Tech for £13m and a fundraising of £10m. Nevertheless, no deal has been announced as of yet and the shares remain suspended. Monday morning prices above were taken near to 11.00 on 25th April 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.

Croma Group (CMG) – Marketing Update.

Desire Petroleum (DES) – Final Results.

Egdon Resources (EDR) – Interim Results.

Griffin Mining (GFM) – Mining License.

Hardide (HDD) – US Facility.

London Asia Capital (LDC) – Final Results.

Real Affinity (RAF) – Directorate Change.

Look out for this week

Monday 25th April – Interim Results from Egdon Resources (EDR). Final Results from London Asia Capital (LDC).

Tuesday 26th April – Final Results from NMT Group (NMT). UK CBI Industrial Trends.

Wednesday 27th April – UK HSBC Consumer Index.

Thursday 28th April – US Gross Domestic Profit (Q1).

Friday 29th April – UK Consumer Credit and Mortgages. US Personal Income and Spending.

The next Penny Share Review will be posted on Monday, 2nd May 2005.

Compiled by Chris Richards.



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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.