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Penny Share Review 403

Tuesday 28 August 2007

African Eagle (AFE) was mentioned in several of the weekend newspapers, including Saturday’s Daily Mail, on news of the Company gaining a listing on the Alternative Exchange of the Johannesburg Stock Exchange, with about 30% of the shareholder register now in South African hands. Along with this, the weekend Financial Times focused on drilling news at African Eagle’s Mkushi project, which has enhanced hopes for high-grade copper on the site. The shares ticked up half a pence to 14.5p.

The ‘Deal of the Day’ column in Saturday’s Times highlighted the purchase of 40,000 shares by CybIT’s (CYH) CEO Richard Horsman, to bring his tally up to 0.64m shares, representing a holding of 2.89%. CybIT traded 0.5p higher this morning at 52.5p.

Saturday’s Independent briefly noted the delay of well testing by Empyrean Energy (EME). Shares in the resources play moved two pence lower to 39.5p.

The Sunday Times recapped on the troubled history of Hill Station (HST.L) and the corrective action that has recently taken place, including new Board appointments and a fund raising. New Chairman Bill Mapstone believes there is no reason Hill Station should not become a profitable and growing concern, with the right management and production facilities in place. One (unnamed) person involved in finding fresh funds conceded the investment was not without risk and believes the stock is “almost a bet on the weather”. The article concludes by saying shareholders will be hoping “a little late summer sunshine might help the ice-cream maker get its problems licked”. The shares bounced 23% or 0.075p on Tuesday morning to 0.4p.

According to the Sunday Express, Interactive Gaming Holdings (IGH) will avoid collapse as it will be bailed out by venture finance company General Capital, who are understood to be prepared to help the bookmaker with about £2m. Punters at IGH’s Heathorns and Premier Bet operations have been unable to access their accounts for more than two weeks. ‘Industry figures’ believe that although IGH may have avoided collapse this time, its demise is only a matter of time. The shares have been suspended since 20 August.

The prices above were taken at around 11am on Tuesday, 28 August 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.

Amphion Innovations (AMP) – Notice of results.

Angel Biotechnology (ABH) – AGM notice.

Ariana Resources (AAU) – Change of broker.

DawMed Systems (DSY) – Director shareholdings.

Gippsland (GIP) – Survey results.

Intellego (IHP) – Holdings.

Mano River Res (MANA) – Director shareholding.

Origo Sino-India (OSI) – Increase in holdings.

Northern Petroleum (NOP) – Holdings.

Zambezi Nickel (ZNI) – AGM notice.

Look out for this week

Tuesday, 28 August – July Mortgage lending.

Wednesday, 29 August – Land Registry house prices.

Thursday, 30 August – First Artist (FAN) AGM, Consumer credit/mortgage lending, M4 lending.

Friday, 31 August – World Television (WTV) EGM, Consumer confidence.

The next Penny Share Review will be posted on Monday, 3 September 2007.

Compiled by Jason Robertson.

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