register and receive 3 compimentary small cap company reports

Penny Share Review 450

Monday 21 July 2008

Sunday’s The Observer Business section noted broker Seymour Pierce’s ‘buy’ note on African Eagle (AFE) and 23p price target. Having already demonstrated the economic viability of its copper project in Zambia, the article pointed out that “a definitive study should be ready by the end of this year.” The shares were level at 5.50p in early trade.

Rumour has it that this week, a bid of about 57p-58p per share will emerge for coffeeheaven (COH), so wrote The Times on Saturday. Apparently, Starbucks’ chairman has been seen in a coffeeheaven outlet and Caffe Nero is also thought to be interested. The bid talk was repeated in the same day’s edition of The Guardian, which also focused on the better reception shares in training business ILX Group (ILX) received to its latest trading statement. Both stocks were unmoved this morning, at 41.25p and 36p respectively.

The prospects for Irvine Energy (IVE) were spelled-out in today’s The Independent, in an article that cited management belief that before too long the Group may find itself under the predatory microscope of “oil market big beasts”, if it can prove-up its oil, gas and coal bed methane projects. “Given that Irvine is already in production,” it said, “and that it does have some very good sites, if the stock stays as low as it is, they will probably be right.” The shares were a fraction higher at 2.43p at the time of writing.

Derek Pain’s ‘No Pain, No Gain’ column in Saturday’s The Independent, gave a thumbs-up to PSG Solutions (PGS) as a long-term play. Notwithstanding current investor avoidance of UK property plays, Mr pain believes that PSG will more than survive the slump, “Indeed it should emerge much stronger and the shares, for the patient investor, appear to be an ideal lockaway for these uncertain times.” There was no response in the share price today, being unchanged at 63.5p

The signing by Red Rock Resources (RRR) of an option over uranium exploration rights in Mozambique and a subsequent rise in the share price was picked up on by the Daily Express on Saturday. The shares retraced around 7% after scrappy selling on Monday morning, to sit at 1.63p.

Share buying by Chief Executives Ian Lancaster of Twenty (TWE) and George Gonzalez of Company Health Group (CHT) was mentioned in the Weekend Financial Times. Shares in both companies were unchanged at 5.25p and 1.38p respectively.

Prices above were taken at around 10:54 to 10:57 on Monday, 21 July 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.

Access Intelligence (ACC): Notice of Results.

Discovery Metals (DME): Trading halt on ASX.

Empyrean Energy (EME): Sugarloaf Block-B update

Ffastfill (FFA): Contract win.

First Artist (FAN): Change of Adviser.

Gladstone (GLD): Change of Adviser.

Mineral Securities (MXX): Holding in company.

Osmetech (OMH): Regulatory approval and change of Adviser.

Pentagon Protection (PPR): New contract wins.

Proventec (PROV): Final Results

Vialogy (VIY): Update on reservoir analysis.

Western & Oriental (WEST): Trading statement.

Look out for this week

Monday, 21 July – Results from Proventec (PROV). UK Rightmove house price index.

Tuesday, 22 July – Apace Media (APA) AGM. UK TSC meeting on banking reform.

Wednesday, 23 July – Eurasia Mining (EUA) AGM. UK Bank of England minutes; BBA June mortgage lending; CBI quarterly industrial trends.

Thursday, 24 July – PSG Solutions (PGS) and Timestrip (TIME) AGMs. UK June retail sales.

Friday, 25 July – Hidefield Gold (HIF) and Tandem Group (TND) AGMs. UK Q2 GDP; May services output.

The next Penny Share Review will be posted on Monday, 28 July 2008.

Compiled by Andrew Thacker.

Penny Shares Online - penny shares research and information service.




Risk Warning

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.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.