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Penny Share Review 435

Monday 07 April 2008

Penny Share Review 435 Saturday’s Independent noted a downturn in the shares of Caledon (CDN), which it attributed to a disappointing operational update last week. However, the price was 0.75p better off at 53.75p this morning.

Griffin Mining (GFM) appeared in Simon Watkins ‘Taking Stock’ column in The Mail on Sunday this week. Commenting, “even in troubled times there are companies whose long-term prospects are immune from the turmoil”, the piece suggested that GFM is likely to be one such example. The article went on to speculate about a ‘major mineral find’ close to existing operations that could contain £300m worth of Gold, Silver, Zinc and Lead. It concluded that, as the shares hit a one-year low on Friday, “a bounce seems likely” and earlier today, the Company announced a new mine at its Caijiaying project (please see below), inspiring the share price to increase by 13.00p to 78.50p.

The Daily Express on Saturday reiterated news that Lonrho (LONR) has agreed to buy a stake in food processing firm Rollex Group. The deal was announced last week and the shares were 0.75p higher earlier today at 32.25p.

Neutrahealth (NUT) featured in the Questor column of the Sunday Telegraph, which commented, "Its rating of 7.7 times 2009 earnings is undemanding and for investors with an eye on a healthy - and well funded - old age, the shares bear further examination. Buy". Following this press attention, the shares added 0.25p to reach 8.875p.

An increase in Oak Holdings (OAH) was highlighted by The Independent on Saturday, after the Company announced an agreement with Laing O’Rourke, and the price was 1.00p healthier at 40.00p on Monday morning.

News of a bid for Virotec (VTI) was held responsible for positive share price movement by Saturday’s Express, after the Company announced its receipt of an all-share offer from Hydrodec. The deal would value the Company’s shares at 12p each, but there was no further upturn in the price earlier today, which remained 10.75p.

Prices above were taken at around 10.07am on Monday, 7 April 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.

ADVFN (ARN): Director Shareholding.

Albidon (ALD): Change of Shareholdings.

Earthport (EPO): Issue of Equity.

FfastFill (FFA): Notice of Results and Holdings in Company.

Griffin Mining (GFM): New Mine at Caijiaying.

Highams Systems (HSS): Holdings in Company.

Hill Station (HLL): Adviser Change of Name.

Speymill Group (SYG): Final Results.

Stanelco (SEO): Annual Information Update.

Surgical Innovations (SUN): Notice of Results.

VYKE Communications (VYKE): Q1Trading Update.

Look out for this week

Monday, 7 April – Results from Speymill Group (SYG).

Tuesday, 8 April – Results from Care Capital (CARE). UK CML Full Mortgage Lending Data (February)

Wednesday, 9 April – Nationwide Consumer Confidence (March) and UK Industrial Production Data (February).

Thursday, 10 April – Bank of England Interest Rate Decision.

Friday, 11 April – Nothing of note.

The next Penny Share Review will be posted on Monday, 14 April 2008.

Compiled by Chris Richards.

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