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Penny Share Review 444

Monday 09 June 2008

Discovery Metals (DME) was highlighted in The Independent on Monday, thanks to a 20p price surge since mid-April after updates from the Group’s Botswana copper project. The article was prudent to forewarn any interested readers that to progress its resource to the mining stage, Discovery will need extra finance in the form of debt and equity in the not-too-distant future. If the Group manages to prove-up an economic mining reserve, it was asked of chief executive Brad Sampson whether any of the big players would take a predatory interest. Supposedly laughed-off by Mr Sampson, the suggestion wasn’t dismissed, either. Despite this comment, the shares have marked time at 28.5p so far this morning.

A small mention for NightHawk Energy (HAWK) in Derek Pain’s ‘No Pain, No Gain’ column in Saturday’s The Independent. The stock is the “new star” in Mr Pain’s notional portfolio and has been boosted by success at the Devon oilfield, making two production areas so far. However, thanks to further drilling news released this morning (you can click through to this below) the shares are 2.25p better at 105.25p, having been 111.5p in early trade.

Prices above were taken at around 10:26am on Monday, 9 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.

Desire Petroleum (DES): Holding in Company.

Earthport (EPO): Corporate Update.

Galleon Holdings (GON): Launch of a toy line in the USA.

Image Scan Holdings (IGE): Interim Results.

Meriden Group (MRD): Share suspension ahead of reverse takeover proposals.

NightHawk Energy (HAWK): Buchanan and Worden Projects Update.

Plant Impact (PIM): Notice of Results.

Proventec (PROV): Grant of Share Options.

Look out for this week

Monday, 9 June – UK May PPI.

Tuesday, 10 June – Sopheon (SPE) AGM, Venue Solutions Holdings (VSH) EGM. RICS May house prices; UK BRC retail sales; April Government house prices; April industrial production; DMO gilts auction.

Wednesday, 11 June – UK Labour market (May).

Thursday, 12 June – CML April mortgage lending; Bank of England inflation attitudes; UK April trade balance; UK gilts auction.

Friday, 13 June – Mercury Recycling (MRG) AGM.

The next Penny Share Review will be posted on Monday, 16 June 2008.

Compiled by Andrew Thacker.

Penny Shares Online - penny shares research and information service.




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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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