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Penny Share Review 364
Monday 20 November 2006
PENNY SHARE REVIEW 364 The Daily Mail on Saturday remarked that the share price of Ariana Resources (AAU) had improved on the appointment of King and Shaxson as joint broker. Further positive movement was seen this morning, thanks to a drilling update and the shares added 1.00p to reach 11.50p.
Cambridge Mineral Resources (CMR) appeared in the Daily Express on Saturday, which noted that upbeat presentations and the expectation of good drilling results had led to better share price performance. However, the share price was unchanged at 4.50p during Monday morning’s session.
The Independent on Saturday rated shares in CoffeeHeaven (COH) as a “Buy”, after an update from the Company reported trading ahead of expectations. It now expects PBT of £400k and the shares were unchanged at 35.00p this morning.
Saturday’s Independent suggested that the expected announcement of positive assay results by Kryso Resources (KYS) (announced today, please see below) could initiate a bounce in the share price. Sure enough, an increase of 0.75p was seen this morning, as the shares rose to 9.25p.
A warning from Media Corporation (MDC) (formerly Gaming Corporation) of disappointing revenues led to a slip in the share price, according to Saturday’s Independent. No change was seen in the share price during this morning’s session though, remaining at 5.00p. The Times on Saturday reiterated news that Pavilion Insurance Network (PVL) had received an offer from Chairman Andrew Selby, on behalf of his pension fund, of £247,500 cash for a property owned by the Company. The share price increased by 0.125p this morning, reaching 6.625p.
Saturday’s Times noticed that talk of a high-profile contract win (announced today, please see below) was unable to shift the share price of Sareum Holdings (SAR), although following its formal announcement this morning, the share price added 0.15p to reach 0.975p.
News that Speymill Group (SYG) will manage the $80m Macau property fund aided an upturn in the share price, according to The Guardian on Saturday. However a fall of 1.50p was witnessed this morning, as the shares fell back to 57.00p.
The weekend’s FT highlighted last week’s news that Christopher Rowe had resigned as Non Executive Chairman of Subsea Resources (SUB), commenting that this meant an even more uncertain future for the business. The article went on to suggest that sources reckon he was under pressure from investors and analysts alike after the deal to sell the Company’s vessel failed. No official comment was given and the shares remained suspended at 13.25p this morning.
The prices given above were taken between 10.20am and 10.58am on 20 November 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.
Ariana Resources (AAU): Significant Initial Drilling.
Caledon (CDN): AIM Restoration and Acquisition.
ILX (ILX): Interim Results.
Kryso Resources (KYS): Nickel Copper Project Assay Results.
Networkers International (NWKI): Hutchinson China Medi Collaboration Agreement.
Ormonde Mining (ORM): Drilling Update.
Sareum Holdings (SAR): Agreement with Genentech.
SectorGuard (SGD): Notice of Results.
Supporta (SOR): Interim Results.
Look out for this week
Monday 20 November – Interim Results from Supporta (SOR) and ILX (ILX). UK Mortgage Lending Approvals (October).
Tuesday 21 November – UK CBI Industrial Trends Survey (November).
Wednesday 22 November – MPC Minutes (November). US Weekly Jobless Claim (November).
Thursday 23 November – UK Business Investment (Q3).
Friday 24 November – UK GDP (revision 1, Q3).
The next Penny Share Review will be posted on Monday, 27 November 2006.
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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