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Penny Share Review 366

Monday 04 December 2006

The “Broker Buys” section of Saturday’s Daily Mail highlighted Arbuthnot’s opinion of Computer Software (CSW) shares as a buy at 119p. The price was unchanged at 114p during Monday morning’s session.

The Sunday Telegraph ran an article looking at the fall from favour of the resources sector, which featured Desire Petroleum (DES). The piece implied that, although the Company had always been upfront about the fact, its lack of ability to mobilise a drill rig hampered progress and the shares had halved in price since the start of 2005. However, the share price was 0.25p healthier at 33.25p this morning.

Griffin Mining (GFM) appeared in The Mail on Sunday, which detailed recent speculation surrounding a possible takeover approach, which could value the Company at up to £230m. Apparently, bidders include BHP Billiton and Ivanhoe, although Roger Goodwin, FD, had no comment on the rumours. According to the article, the Company’s share price has surged forward over recent years since its Chinese mine went into production and has benefited from the rising zinc price. During this morning’s trading, the shares added 8.75p to reach 97.00p.

Hill Station (HLL) received much press attention at the weekend, mostly focusing on re-financing arrangements and the fact that full-year losses may be greater than expected. The Express on Saturday reported emergency funding of £1.1m from William Mapstone, for nearly 11% of the business, while a £2m loan was arranged from other shareholders. Saturday’s Guardian went on to say that if these arrangements fell through, the Company warned it would not have enough working capital and The Times on Saturday also highlighted this news. The share price was unchanged at 1.5p this morning. Saturday’s Express commented that boardroom buying had lifter the share price of Media Corporation (MDC), although the shares fell by 0.125p to 6.8p this morning. Tanfield Group (TAN) appeared in the Financial Times today, reporting the arrival of final production equipment from UpRIght’s former Dublin base, following its acquisition. The piece reported that the addition of UpRight to the Group has contributed to its growth and highlighted the imminent launch of the Newton truck, a zero-emission 7.5 tonne vehicle. So far, 15 of the Faraday vehicles have been sold and broker Daniel Stewart forecasts pre tax profits of £5.5m on £42m turnover in 2006. The momentum seemed to continue during Monday morning’s trading, where the share price added 0.75p to reach 48.00p.

The prices given above were taken between 9.35am and 10.07am on 4 December 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.

Croma Group (CMG): Final Results.

DDD Group (DDD): Re Agreement.

Dermasalve Sciences (DRM): Biocide Gel Update.

e-Pay Asia (EPY): Conversion of Securities.

Griffin Mining (GFM): Caijiaying Update.

Hardide (HDD): Final Results.

IDN Telecom (IDN): Takeover Panel Disclosure Table.

Media Corp (MDC): Director Shareholding.

Northern Petroleum (NOP): Notification of Shareholding.

Retec Digital (RET): Acquisition.

Scotty Group (SCO): Contract Win.

Look out for this week

Monday 4 December –Final Results from Croma Group (CMG) and Hardide (HDD). Eurozone Producer Price Inflation (October).

Tuesday 5 December – Interim Results from Cybit Holdings (CYH) and Ten Alps (TAL). UK BRC Retail Sales Monitor (November).

Wednesday 6 December – UK Manufacturing Output (October)

Thursday 7 December – UK Interest Rate Decision. US Weekly Jobless Claims.

Friday 8 December – US Unemployment Rate (November).

The next Penny Share Review will be posted on Monday, 11 December 2006.

Compiled by Chris Richards.

Penny Shares Online - penny shares research and information service.




Risk Warning

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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