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Penny Share Review 345

10 July 2006

The Sunday Telegraph announced that African Diamonds (AFD) is expected to upgrade the size of its find in Botswana to the extent that it could become one of the 10 largest diamond mines in the world. The resource, known as AK6, is a joint venture with De Beers and a drilling campaign also highlighted that a rare class of diamonds, class 2, were present at the site, examples of which are the Hope diamond and Cullinan diamond, part of the Crown Jewels. Previous estimates indicating the project would add $6 to the share price will now be revised substantially upwards, according to the article and the Company’s other exploration concerns in Sierra Leone and Guinea will be spun out into a new company called West African Diamonds. Following this positive news, the shares increased by 14.00p to reach 175.00p this morning.

Computer Software (CSW) comprised part of The Business this weekend, which commented that with 11 acquisitions since floating, the integration of these businesses has been skilful. The report went on to note strong and consistent performance and that over 40% of sales forecast for the current year are made up of support contracts, with another 40% from repeat business. The article concluded with a target price of 149p for the shares, which were unchanged at 100.50p this morning.

Shares in Galleon Holdings (GON) were ahead on news of a contract win, according to Saturday’s Independent. However, there was no further increase to the price on Monday morning, which remained 7.00p.

The Daily Mail on Saturday suggested Oxford BioMedia (OXB), along with 4 other biotechnology firms, might attract bid interest over the next 12-18 months in an article that reviewed the sector. Following this press attention, the shares added 0.25p, reaching 25.00p this morning.

The Weekend’s Financial Times reported the news of Sean Daley, an executive of Oxus Gold (OXS) being shot and wounded in Kyrgyzstan. The article stated Mr Daley was the lead negotiator in an ongoing row with the government, after the Company was stripped of a mining license. The incident occurred after Oxus had won a Supreme Court hearing to stop the Government pursuing discussions with Global Gold. During Monday morning’s session, the shares added 0.25p to reach 53.25p.

The prices given above were taken between 9.00am and 10.00am on 10 July 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.

Black Rock Oil and Gas (BLR): Additional issue of shares.

Northern Petroleum (NOP): Transfer of Andel license.

Proventec (PROV): Final results.

Personal Screening (PSP): Final results.

Pavilion Insurance (PVL): Trading statement.

Scotty Group (SCO): Contract win.

Thor Mining (THR): Drilling report.

Look out for this week

Monday 10 July – Final results from Proventec (PROV) and Personal Screening (PSP). Producer Price Inflation (June).

Tuesday 11 July – BRC Retail Sales Survey (June).

Wednesday 12 July – Unemployment (June). US Trade Balance (May).

Thursday 13 July – BCC Quarterly Economic Survey.

Friday 14 July – US Retail Sales (June).

The next Penny Share Review will be posted on Monday, 17 July 2006.

Compiled by Chris Richards.

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