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Penny Share Review 443

Monday 02 June 2008

Caledon Resources (CDN) appeared in Saturday’s Times, which reported that Polo Resources, which is bidding for GCM, had been stake building in the Company. Shares in CDN were 2.50p better off this morning, at a price of 113.00p.

The Sunday Express featured EMED Mining (EMED), noting that the Company has an option over Spain’s largest copper mine, once owned by Rio Tinto. It went on to suggest that CEO, Harry Adams, believes the permits to operate the mine will be in place within six months and commented that the start of operations would make the Company the most cash generative producer in Europe. The mine holds estimated reserves of 120 million tonnes of copper ore. Apparently, Adams believes reserves could be double that. Following this press attention, the shares added 1.25p to reach 29.5p.

Increase in the share price of CoffeeHeaven (COH) after the Company announced a £3.5m fundraising at 30.5p a share was highlighted by The Times on Saturday. The price was unchanged at 35.50p earlier today.

Saturday’s Independent noted the positive movement of Rheochem (RHEP) shares on development news of the Athena field, and the momentum appeared to spill over into this week, as a further 0.50p was added to the price, reaching 14.00p.

Prices above were taken at around 9.59am on Monday, 2 June 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.

Albidon (ALD): Annual General Meeting Results.

Beowulf Mining (BEM): Final Results and Holdings in Company.

Electric Word (ELE): Strategic Partnership.

IDOX (IDOX): Trading Update.

Infonic (IFNC): Directors Dealing.

Kiotech International (KIO): Statement re Aquatice Trials Programme.

Mercury Recycling (MRG): Acts Posted to Shareholders.

Northern Petroleum (NOP): Extension of Loan Facility to ATI Oil plc.

Oxford BioMedica (OXB): Trovax Phase II Trial Results.

Pantheon Resources (PANR): Director Shareholding.

PSG Solutions (PGS): Notice of EGM.

Renewable Energy Holdings (REH): Extension of Credit Facility.

Resources In Insurance Group (RIIG): Final Results.

Speymill Group (SYG): Acquisition of GOAL minority interest.

Synchronica (SYNC): Joins CalConnect.

Timestrip (TIME): Final Results.

Venue Solutions (VSH): Final Results.

Look out for this week

Monday, 2 June – Results from Beowulf Mining (BEM), Resources in Insurance Group (RIIG), Timestrip (TIME) and Venue Solutions (VSH). Vision Media (VMG) AGM. UK Lending to Individuals Data (April) and BSA Mortgage Lending Data (April).

Tuesday, 3 June – UK CIPS Construction PMI (MAY).

Wednesday, 4 June – Oakdene Homes (OKD) AGM. Nationwide Consumer Confidence Survey (May).

Thursday, 5 June – Bank of England Interest Rate Decision.

Friday, 6 June – Nothing of note.

The next Penny Share Review will be posted on Monday, 9 June 2008.

Compiled by Chris Richards.

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