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Penny Share Review 394

Monday 25 June 2007

Penny Share Review 394 There were plenty of column inches devoted to the sharp rise in the shares of ADDLeisure (ADE) and in Saturday's The Guardian, we read about the acquisition of a 29.9% stake for 5p a share by BUPA. The experienced ADDLeisure Board, headed by David Turner (a co-founder of LA Fitness) and Allan Fisher (a founder of Holmes Place) want BUPA's involvement to accelerate growth in the corporate and consumer healthcare markets. There has certainly been accelerated growth in the share price, which now stands at 6p, thanks to a gain of 0.375p today.

The amazing foresight of the UK financial press was upheld today by Cambridge Mineral Resources (CMR), which featured in Saturday's The Independent. "Traders", it said, "are hoping to hear some good news next week" and how right the journal was! Sure enough, CMR announced today a bullish update for its South American prospects, now we have to see if The Indy's expectation of it drumming up "decent support" continues beyond Monday morning's 28% gain to 4p in the middle.

The unveiling of a new and timely stop-smoking product by Chromogenex (CGX) featured in today's edition of The Independent and was confirmed to the market via RNS. Expected to be rolled-out to about 1,200 clinics, the 'Nicolite' product uses laser pulses to stimulate the release of endorphins in the human body in order to reduce a smoker's cravings. The paper opined that the Company's shares "look to have passed beneath the radar screen of most traders", but pointed out the recent good announcements by the business and its expanding suite of laser products that could bring it into focus. Shares were better again on Monday, with a quarter-penny rise to 7.875p.

Friday was a good day for investors in Empyrean Energy (EME) and its share gains were noticed by the following day's copy of the Daily Express, the Group having reported decent drilling results from certain of its US prospects. Monday is so far proving to be another good day and the shares sit 6.5p better off at 46.5p.

The Weekend Financial Times caught Eruma's (ERU) results last week, with its share price rising in recognition of an enlarged order book. Repeat business from high street banks and utilities, it said, had been added to with four domestic police forces and it is hoped that a US partner will be able to convert talks with the likes of the CIA and FBI into North American sales of £6m within three years. Despite the upbeat outlook, this thinly-traded share succumbed to profit-taking today and is currently 0.375p lower at 6.75p.

The same FT also featured broker Hoodless Brennan's "highly speculative buy" tip for Vyke Communications (VYKE). Chairman Tommy Jensen is targeting 2 million accounts in three years for his company's VoIP mobile product, thanks to such deals like the one just signed to link it with Wi-Fi hotspots operated by The Cloud. The paper noted the shareholder register hosting a number of large institutions and the presence of Centennial Group, which was an early investor in Skype. Hoodless has a 3p price target (or 60p taking into account a forthcoming 20-for-1 share consolidation) for the shares and there was clearly some appetite for the stock this morning with a 1% rise in the price to 2.325p-mid.

The prices above were taken at 10.19am on Monday, 25 June 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.

Albidon (ALD): Issue of Equity.

Appian Technology (APN): Interim Results.

Caledon Resources (CDN): Final Results.

Cambridge Minerals (CMR): Quintana Gold Mine Economics.

Chromogenex (CGX): New Product Launch.

Delling Group (DLG): Final Results.

Elcom International (ELC): Directorate Change.

Empyrean Energy (EME): Project margarita Update.

Hidefield Gold (HIF): South Estelle Farm Out.

ILX (ILX): Final Results.

Image Scan Holdings (IGE): Holdings in Company.

Millbrook Scientific (MBK): Final Results.

Mission Capital (MCAP): Interim Results.

Pantheon Resources (PANR): Production Update – June 2007.

Red24 (REDT): Final Results.

Supporta (SOR): Final Results.

Synchronica (SYN): Award Win.

Look out for this week

Monday, 25 June – Results from Appian Technology (APN), Caledon Resources (CDN), Delling Group (DLG), ILX (ILX), Mission Capital (MCAP), Red24 (REDT) and Supporta (SOR).

Tuesday, 26 June – Nothing of note.

Wednesday, 27 June – Northern Petroleum (NOP) AGM. UK CBI Monthly Distributive Trade Survey.

Thursday, 28 June – African Eagle (AFE) and Business Direct (BDG) AGMs. Nationwide House Prices (June).

Friday, 29 June – UK Q1 Final GDP. UK Consumer Credit and Mortgage Lending (May).

The next Penny Share Review will be posted on Monday, 2 July 2007.

Compiled by Chris Richards / Andrew Thacker.

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