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Penny Share Review 421

Wednesday 02 January 2008

Albidon (ALD) appeared in today’s Guardian under the headline “Stocks to watch in difficult times”, noting that the Company is expected to go into production in the next 6-months at its Zambian nickel mine. Remarking that nickel prices remain above historic averages, the piece detailed that larger miners, such as Rio Tinto, had displayed interest in the metal and that the business may become a takeover target, following rumoured interest from a Russian fund. Despite this, the shares remained unchanged at 136.00p earlier.

The start of drilling at its Colombia field led to an increase in the share price of Black Rock Oil (BLR), according to Tuesday’s Times, but no further increase occurred earlier today, where the price stayed 18.75p.

Yesterday’s Daily Telegraph detailed that shares in Croma Group (CMG) rallied after posting increased turnover on New Year’s Eve. Though pre-tax losses widened, prospects were said to be encouraging and Yesterday’s Times and Guardian also covered the news. The share price remained 3.625p on Wednesday morning.

Encore Oil (EO..L) also formed part of The Guardian’s ‘Stocks to watch’ article today, commenting that the business has a ‘barrel full’ of management experience and that those with a brave heart and spare cash could take a gamble. Following this press attention, the shares added 0.25p to reach 51.75p.

Shares in Petards (PEG) increased after the Company disposed of its software business to reduce debt and invest in remaining businesses, said Tuesday’s Guardian. This momentum appeared to spill over into Wednesday’s trading, where the shares added a further 0.095p to reach 0.525p.

Today’s Daily Telegraph featured a profile on Jim Slater, commenting that he is ‘the first on every market bandwagon’. The article reported that Vialogy (VIY) marked his return to the Boardroom, after Slater Walker collapsed, but that it was Galahad Gold (GLA) that put him back on the financial map, which is in the process of returning cash to shareholders. There was no change to either share price earlier today, which were 6.125p and 17.00p respectively.

The Daily Telegraph today provided a review of the Alternative Investment Market and noted a ‘good 12 months’ for Tanfield (TAN), as the business had capitalised on pressure for businesses to reduce carbon emissions, though the share price dropped back by 0.50p to 137.50p during earlier trading today. Furthermore, a ‘storming year’ for Vyke Communications (VYKE) was reported, having increasing by 231%, as internet telephony grew in popularity, but the shares dipped by 1.00p to 90.00p on Wednesday morning. River Diamonds (RVD) was pinpointed as the ‘best performer’ (suspended at 4.40p), whilst Glen Group (GLN) was the worst (unchanged at 0.175p earlier). The article went on to state that SubSea Resources (SUB) had dropped by 94%, following failed exploration attempts, and its shares remained 0.70p during this morning’s session.

The prices above were taken at 10.04am on Wednesday, 2 January 2008.

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.

Hartest Holdings (HTH): Directorate Change.

Mineral Securities (MXX): Option Expiry Notice.

Pantheon Resources (PANR): Directorate Change.

Look out for this week

Wednesday, 2 January – UK Manufacturing PMI (December).

Thursday, 3 January – Bank of England Q4 Credit Conditions Survey.

Friday, 4 January – UK Credit/Mortgage Lending (November).

The next Penny Share Review will be posted on Monday, 7 January 2008.

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.

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