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Penny Share Review 313
21 November 2005
Press
The Sunday Telegraph noted a deal between ADDleisure (ADE) and Brunswick, the US company, over the marketing of Fitbug in the America. Nevertheless, the shares remained at 2.75p this morning regardless of this news.
This weekend’s Financial Times featured Galahad Gold (GLA), commenting that there is more to the Company than the mineral implied by its name, what with interests held in copper, uranium, platinum and molybdenum. InterMoly was described as the Company’s most impressive of these and the article went on to state that researchers, Equity Development, reckon the shares to be worth 15.9p based on mineral prices. The piece concluded with the comment “One to tuck away” and an improvement of 0.50p to the share price was witnessed during Monday morning’s session, as it reached 10.75p.
Gaming Corporation (GMC.L) comprised part of the ‘Broker Buys’ section of the Daily Mail on Saturday, which reported Cannaccord Capital’s buy recommendation at 12.5p due to a belief that the Company may benefit from growth in mobile and internet gaming. However, this was unable to shift the share price, which remained at 13.00p this morning.
The Business this weekend reported on the ‘milestone’ completion of studies in Egypt by Gippsland (GIP) taking the Company a step closer to production of tantalum, for which there is a growing demand due to its use in laptop computers and chemical equipment. The commentary continued that talks with an international bank were ongoing to finance the Abu Dabbab project and that the shares were “still a buy.” Following this positive media attention, the share price continued to improve, adding 0.75p to 5.75p during Monday morning’s trading.
The Independent on Saturday informed its readers of improved share price performance from Karelian Diamonds (KDR) following the Chairman’s acquisition of 100k shares. This momentum failed to continue into this morning’s session though, as the share price remained 5.25p.
A piece regarding Stephen Komlosy, former Chairman of London & Boston Investments (LBN), formed part of The Mail on Sunday, discussing the investigation into whether links between the Company and his wife Patti Boulaye’s charity involved inappropriate use of funds. Going on to say that there was no evidence of this so far, the report appeared to have no influence on the Company’s share price, which remained 5.75p this morning.
Motive Television (MTV) appeared in Saturday’s Independent, which commented on a better share price amid news of acquisition intentions, although the shares were unchanged at 2.25p this morning.
The Times on Saturday highlighted a rise in the share price of Tarquin Resources (TQN) due to its stake in Max Petroleum providing a cheap route to the shares. However, it continued that rumours suggest Tarquin sold out of Max recently and consequently no further gains were seen during Monday morning, with the share price sticking at 2.25p.
Monday morning prices were taken just before 10.30am on 21 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.
Clerkenwell Ventures (CRK): Final Results.
Global Marine Energy (GME): PMH $600,000 order.
Highams Systems (HSS): Interim Results.
Look out for this week
Monday 21 November – Final Results from Clerkenwell Ventures (CRK). Interim Results from Highams Systems (HSS). Rightmove House Price Survey.
Tuesday 22 November – Final Results from Gaming Corporation (GMC.L). CBI Monthly Industrial Trends Survey.
Wednesday 23 November – Interim Results from ID Data (IDD) and Provexis (PXS). October Motor Production and Bank of England November Meeting Minutes.
Thursday 24 November – Bank of England officials testify to MP’s.
Friday 25 November – Quarter 3 GDP revision and BBA Mortgage Lending Data.
The next Penny Share Review will be posted on Monday 28 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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