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Penny Share Review 338

22 May 2006

The Independent on Saturday reported rumours that Caledon Resources (CDN) is on the verge of announcing a bullish drilling update, causing much trading activity in the stock. However, the share price fell by 0.38p to 4.38p this morning.

The Independent on Saturday proposed holding shares in Griffin Mining (GFM) for further gains, as its price has risen from the 32.5p that the column originally tipped it at. The share price fell by 3.25p this morning to 72.50p.

Saturday’s Express noted disappointing earnings causing the share price of iTrain (IRN.L) to fall, though the share price improved by 0.25p, reaching 4.25p this morning.

Legendary Investments (LEG) comprised part of Saturday’s Independent. The article suggested that a more humble name than “Legendary” might have been a more appropriate choice for the Company, as the share price fell back last week. Nevertheless, positive movement was seen during this morning’s session, as the shares added 0.04p to 0.12p.

Rumours of imminent bullish drilling results from Rift Oil (RIFT.L) lifted its share price, according to Saturday’s Telegraph. The shares continued to climb during Monday morning’s trading, adding 0.38p to 8.50p.

Speymill (SYG) appeared in Saturday’s Guardian, which noted that the Company’s shares rose as nearly 700k shares were traded. This was following a tip in a German magazine, as the Company has property funds in the country and momentum appeared to spill over into Monday morning’s session, where the share price added 2.75p to 86.50p.

The Sunday Telegraph reported that Western & Oriental (WEST) looks set to grow fast, citing the experience of Peter Howell at lastminute.com. The piece concluded with a “Buy” recommendation and the share price increased by 4.50p, to hit 24.50p during this morning’s trading.

Monday morning prices were taken between 9.00am and 10.00am on 22 May 2006.

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.

Alliance Pharma (APH): Distribution Agreement.

Amphion Innovations(AMP): Director Share Transaction.

Personal Screening (PSP): Acquisition.

Symphony Plastic Technologies (SYM): Caribbean Sales Update.

Subsea Resources (SUB): ROV Contract Announcement.

Tertiary Minerals (TYM): Interim Results.

Look out for this week

Monday 22 May – Interim Results from Tertiary Minerals (TYM). Government House Price Survey (March).

Tuesday 23 May – Interim Results from Cardpoint (CASH), Gaming Corporation (GMC.L).

Wednesday 24 May – CBI Monthly Industrial Trends survey.

Thursday 25 May – GDP First Revision (Q1).

Friday 26 May – BBA Final Mortgage Lending (April).

The next Penny Share Review will be posted on Tuesday 30 May 2006.

Compiled by Chris Richards.

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