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Penny Share Review 365

Monday 27 November 2006

The Times on Saturday reported that shares in Caledon (CDN) had improved on word that a £26m fundraising had gone well, with several US institutions involved and this view was mirrored in Saturday’s Daily Mail. The positive momentum continued during Monday morning’s session, where the share price added 0.375p to reach 7.875p.

First Artist (FAN) is in detailed talks to buy Dewynters, the promoter of west end shows, for £13-15m, further diversifying away from football representation, according to The Sunday Times. It went on to say that it is not clear how the Company will finance the deal, but the share price appeared to react positively, adding 0.125p reaching 6.25p this morning.

Galleon Holdings (GON) appeared in today’s Independent, which commented on the flow of positive announcements from the Company over the last few months. It particularly highlighted an extension to a contact last week, under which 30m toys were added making a deal worth a total of £1.5m for Croco. However, the article suggested that news from the Entertainment unit is more likely to get the shares moving and it noted that John Gildersleeve’s stake building could aid the business in this regard, given his EMI and Carphone Warehouse contacts. The hope is to attract record label interest for the Apollo’s Pad offering and the piece concluded that the Company is worth keeping an eye on over the coming months. Following this positive attention, the share price added 1.25p to reach 11.75p this morning.

The Guardian on Saturday reiterated Friday’s news that Oxus Gold (OXS) plans to spend $12.5m, together with KazakhGold, to start production in Romania. The share price was 1.00p lower at 27.75p this morning.

The Saturday Times’ “Rumour of the day” section suggested that an upturn in the share price of Toledo Mining (TMC) was due to speculation that the Company was close to securing a permit allowing mining of its Berong prospect to commence. Apparently, it is in advanced negotiations with customers to supply the metal to, with BHP Billiton in for half of the output. The share price was unchanged at 126.00p this morning.

The prices given above were taken between 9.06am and 9.50am on 27 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.

Amphion Innovations (AMP): Acquires Stake in Company.

Cambridge Minerals (CMR): In House Drill Rig Acquired in Colombia.

Cheerful Scout (CLS): Issue of Equity.

EMED (EMED): Mining Public Option in Albania.

Formjet (FMJ): Dell Software Agreement.

Gippsland (GIP): Project Finance Advisor Appointed.

Global Marine Energy (GME): New Orders Totalling $11.6m.

Hardide (HDD): Notice of Results.

Invox (INX): Circular and Annual Report.

Networkers International (NWKI): Offer Unconditional.

Proventec (PROV): Interim Results.

Speymill (SYG): DeutscheImm Further Investment.

Virotec International (VTI): Notifiable Interest.

Look out for this week

Monday 27 November – Interim Results from Proventec (PROV). UK BBA Mortgage Approvals (October).

Tuesday 28 November – Final Results from Media Corp (MDC.L – formerly Gaming Corporation). US Consumer Confidence (November).

Wednesday 29 November – UK Consumer Credit (October). US GDP (Revision 1, Q3).

Thursday 30 November – Nationwide House Price Index (November). US Weekly Jobless Claim (November).

Friday 1 December – UK Manufacturing PMI (November).

The next Penny Share Review will be posted on Monday, 4 December 2006.

Compiled by Chris Richards.



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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.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.