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Penny Share Review 311
07 November 2005
Press
A review of the AIM resources sector, which comprised part of The Daily Telegraph today, detailed that John Meyer, a mining analyst at Numis Securities, likes the look of Albidon (ALD) following the announcement of positive drilling activities last week. Moreover, the article went on to speculate that Metals Exploration (MTL) could be close to announcing some ‘significant finds’, but this press attention was unable to assist a rise in the companies share prices. This morning’s session saw Albidon’s remain unchanged at 29.00p whilst Metals Exploration dropped 0.50p to 17.00p.
The Independent on Saturday noted a ‘disappointing’ drilling update from Desire Petroleum (DES) and the subsequent price slip of its shares. This comes on the back of RockHopper’s decision not to extend its interest in 2 of the Company’s licenses and news that delays have been encountered in finding drilling equipment rather than actual results from drilling as the article infers. However, this decline seemed short lived, as an improvement of 0.25p to 27.25p was witnessed during this morning’s session. Ennstone (ENN) was highlighted in the Daily Mail on Saturday in a review of takeover targets as a ‘Good bet’ at £114m, following Pilkinton’s rejection of Nippon Glass. Following this speculation, the shares increased by 0.25p reaching 38.75p this morning.
Today’s Independent contained a positive review of this morning’s trading update from First Artist (FAN) (see below) stating that the business is ‘doing well’. This sentiment appeared to be mirrored in the market during this morning’s trading, as the share price gained 0.63p rising to 6.75p.
Galahad Gold (GLA) appeared in the Sunday Telegraph, which reported that a good deal of value has been created over the past year with the spin off, InterMoly and increased resources at the Pebble prospect. Although this has not aided the share price the article suggested that readers ‘hang on in there’. This could be sound advice, as the shares added 0.25p to 10.75p this morning.
The Daily Express on Saturday included a double page spread regarding the death of Brian Jones of the Rolling Stones and a book and film ‘Stoned’ that deal with this subject. The film, a project of Intandem Films (IFM), is out this month and media attention is starting to build. However, this was unable to shift the share price, which remained unchanged at 3.38p.
The Sunday Times featured an article in which Peter Shearlock divided a portfolio into ‘Heaven’ and ‘Hell’. Rather than the good and the bad, these sides were more representative of heavyweights, which display virtuous characteristics and speculative tiddlers which may turn out to be ten-baggers. Mercury Recycling (MRG) was included under the latter, but despite this attention the shares came off by 0.50p settling at 33.00p this morning.
The Business this weekend reported that although Netcall (NET) released disappointing figures, as expected, they did include the ‘seeds’ of recovery and even profitable growth. This theory was attributed to the increased cash position and development of QueBuster software, including positive early indications of success with its hosted product. The piece stated that the Company could leap back into positive territory and concluding with a speculative buy recommendation. Furthermore, this momentum carried over to this morning’s trading, as the share price increased by 1.75p to 13.75p.
Noble Investments’ (NBL) proposed acquisition of Baldwins aided an increase to the share price, according to Saturday’s Times, which continued this morning as the shares added a further 3.00p to 67.50p.
Saturday’s Financial Times reminded readers of a positive trading statement from Osmetech (OMH) last week and cited improved share price performance as a result. The share price continued to improve this morning as it gained 1.00p to 18.50p. Monday morning prices were taken just before 10.30am on 7 November 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.
First Artist Corporation (FAN): Trading Update.
Provexis (PXS): Awarded Research Grant.
Look out for this week
Monday 7 November – US Consumer Credit and September Industrial/Manufacturing Output.
Tuesday 8 November – National Institute of Economic and Social Research’s UK GDP Estimates.
Wednesday 9 November – September Trade Balance.
Thursday 10 November – UK House builder Statistics. Bank of England Interest Rate Decision. US Treasury Budget.
Friday 11 November – Nothing of note.
The next Penny Share Review will be posted on Monday 14 November 2005.
Compiled by Chris Richards.
Penny Shares Online - penny shares research and information service.
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.
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