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Penny Share Review 388

Monday 14 May 2007

The weekend edition of the Financial Times featured EBTM (EBTM) in its ‘Share Watch’ column. The latest deal announced by this online music related retailer with ‘heavy metal’ publication Kerrang! added weight to a growing story, which in turn has attracted investors who have pushed the shares higher recently. However, they were unchanged at the time of writing at 5.75p in the middle.

An option to buy a former Rio Tinto mine in Spain, coupled with a fundraising at 12p, stirred interest in the shares of EMED Mining (EMED), said Saturday’s The Independent. It went on to say that the “shares could rally sharply if the deal is completed”, given its company-transforming potential. Interest continued this morning, with the stock up another 1.5p to 14.38p.

Uncertainty over the industry adoption of the WEEE directive has hit sentiment towards Mercury Recycling (MRG) and Friday’s share price fall was noticed by the Daily Express the following day. The pressure continues this morning, with a drop of 0.5p to 24p-mid.

More bad news from SubSea Resources (SUB) and a sale of shares by former director Mark Gleave, left the equity at an all-time low on Friday, reported Saturday’s Daily Telegraph. Despite the going not being so good, it looks like a few punters are taking an interest, with the shares 0.25p better on Monday at 4.5p.

Saturday’s edition of The Times noted the slight dip in Tanfield Group’s (TAN) share price, despite apparent institutional buying interest. The stock has rebounded 3.25p so far today and currently sits at 127.5p.

The Investment Extra section of Saturday’s Daily Mail touched on the continued suspension of Tertiary Minerals (TYM) shares. Although hopes remain that the problems at Ghurayyah will be solved, journalist Brian O’Connor has braced his holding for a 40% loss in value, notwithstanding Tertiary’s value in other assets. The shares were suspended at 13.75p in January and we await news of their return.

The prices above were taken between 10:19am and 10:31am on Monday, 14 May 2007.

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.

Carpathian Resources (CPNR): Appointment of Company Secretary.

Eckoh (ECK): Parcelforce Expands Contract.

Hardide (HDD): Interim Results.

iTrain (IRN): Holding in Company.

Lonrho Africa (LAF): Signs Joint Venture.

MediWatch (MDW): Appointment of Non-Executive Director.

Meridian Petroleum (MRP): Calvin Field Update.

ValiRx (VAL): Cancer Research Technology / Cronos Agreement Extended.

Look out for this week

Monday, 14 May – Hardide (HDD) Interims; UK CBE SME Trends Survey, UK March Government House Price Data.

Tuesday, 15 May - ReGen Therapeutics (RGT) AGM; UK April CPI, UK RICS April House Price Survey.

Wednesday, 16 May - Alliance Pharma (APH) AGM. Bank of England Inflation Report.

Thursday, 17 May - UK Q1 Housing Starts.

Friday, 18 May - UK April Retail Sales.

The next Penny Share Review will be posted on Monday, 21 May 2007.

Compiled by Andrew Thacker

Penny Shares Online - penny shares research and information service.