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Penny Share Review 436

Monday 14 April 2008

Elephant Loans and Mortgages (ELEP) appeared in The Independent on Saturday, highlighting the reverse takeover situation that was announced late on Friday. Trading in the shares is currently suspended.

Gippsland (GIP) received coverage from today’s Independent, which pointed out the business has genuine assets and could be about to get backing from German bank KfW, among others. The article noted the potential of the Abu Dabbab project to become a major supplier to the global tantalum industry, and suggested the future is bright for GIP. The piece concluded, FD Capital thinks the Company should have a target price of 25p, though if a German mining firm gets interested the shares could be worth a lot more. Following this press attention, the stock was up 0.375p at 4.50p.

The Mail on Sunday featured Griffin Mining (GFM), reporting that investors have had a bumpy ride, but detailing that the business was differentiated from most small mining groups, being profitable with cash in the bank. Reiterating last week’s news of new sources of gold, silver and lead, the article urged shareholders to resist the temptation to quit, as the fundamentals that drove the Company higher in the past are still in place, and suggested 100p a share or more is easily achievable again. The price rose by 4.00p to 81.75p this morning.

An interview with Lonrho (LONR) Chairman, David Lenigas, comprised part of The Mail on Sunday, under the headline “Why I want Lonrho back in Zimbabwe”. It quoted Mr Lenigas, “it took Zimbabwe 12 years to end up in this situation… it will perhaps take half a dozen to get out. But it will and we will be there.” Pointing out that the Company is apolitical when it invests, the piece noted he is optimistic about prospects in Africa compared to opportunities in the west, saying it is like Asia 20 years ago, and the shares increased by 0.25p to 32.25p earlier today.

Saturday’s Times reported that shares in Nighthawk Energy (HAWK) “continued to soar” on talk of a potential bid and that it is close to extracting first oil in the US. The momentum seemed to spill over into Monday morning, where the price was 0.50p higher at 69.25p.

Prices above were taken at around 10.10am on Monday, 14 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.

AIM Resources (AIMR): Exploration Drilling Results.

Centrom (CET): Final Results.

Chromogenex (CGX): Canadian Health Approval.

Coms (COMS): FSB Agreement.

Empyrean Energy (EME): Sugarloaf Block A Update.

First Artist Corporation (FAN): Interim Results.

Formjet (FMJ): Landmark Software Agreement.

Hardide (HDD): Directorate change.

Henderson Morley (HML): Issue of Equity and Schering Plough Agreement.

Plant Impact (PIM): US Agreement Signed.

Reflec (REF): Product Launch.

Sareum Holdings (SAR): Fundraising.

Stratex International (STI): Letter to Shareholders.

Synchronica (SYNC): Holdings in Company.

Tertiary Minerals (TYM): Commencing of Drilling.

Thor Mining (THR): Quarterly Report.

Virotec International (VTI): Change of Advisor.

Look out for this week

Monday, 14 April – Results from Centrom (CET) and First Artist Corporation (FAN). Altona Resources (ANR) EGM. UK Producer Prices (March).

Tuesday, 15 April – UK BRC Retail Sales Monitor (March) and Government House Price Data (February).

Wednesday, 16 April – NeutraHealth (NUT) AGM. UK Labour Market Data.

Thursday, 17 April – Results from SmartFocus Group (STF).

Friday, 18 April – UK CML Mortgage Lending Data (March).

The next Penny Share Review will be posted on Monday, 21 April 2008.

Compiled by Chris Richards.

Penny Shares Online - penny shares research and information service.




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