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Penny Share Review 455
Tuesday 26 August 2008
Today’s Daily Telegraph reported some analysts believe the AIM mining sector has been oversold and several AIM miners appear to be undervalued. The article went on to note Hanson Westhouse’s view that falling commodity prices have taken their toll, and that plummeting zinc prices have taken casualties including AIM Resources (AIMR), which has its Perkoa project on a ‘care and maintenance programme’. The shares remained 1.25p this morning.
Altona Resources (ANR) appeared in The Independent today, which drew attention to the memorandum of association with CNOOC Energy, a subsidiary of China National Offshore Oil Corporation, announced last week. The deal is to develop its Arckaringa project, which the Company believes has the potential to generate 10m barrels a year of coal to liquids fuel. The price was unchanged at 3.125p following this comment.
Saturday’s Daily Mail reported the price increase of Beowulf Mining (BEM), as a stock overhang was cleared. It also drew attention to the Company’s listing on Sweden’s AktieTorget Market, and concluded, “dealers are hopeful that it will now attract local investors and the stock will soon revisit June’s peak of 4.50p.” Despite this though, there was no change to the price, which stayed 2.25p earlier today.
Last week’s Results from DM (DMP) were positively reflected on by today’s Independent, highlighting the resultant jump in the share price. However, the piece also noted the Company had suspended its dividend payment, commenting that this may ‘nark’ investors, despite the “impressive numbers”. Nevertheless, the price was unaffected by this press attention, remaining 15.75p during Tuesday’s early trading.
Prices above were taken at around 9:55am on Tuesday, 26 August 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.
African Eagle Resources (AFE): Project Update.
Beowulf Mining (BEM): Holdings in Company.
Braemar Group (BRG): Director Shareholding.
Caledon Resources (CDN): Interim Results.
EMED Mining (EMED): Quarterly Report.
ID Data (IDD): Trading Statement.
Pantheon Resources (PANR): Drilling Update.
Sareum Holdings (SAR): Disposal.
Seeing Machines (SEE): New FaceAPI Product Release.
Zambezi Resources (ZRL): Lapse of Options.
Look out for this week
Tuesday, 26 August – Results from Caledon Resources (CDN). BBA Loans for House Purchase Report (July).
Wednesday, 27 August – Experimental Services Producer Price Index (Q2).
Thursday, 28 August – CBI Distributive Trades Survey (August).
Friday, 29 August – Nothing of note.
The next Penny Share Review will be posted on Monday, 1 September 2008.
Compiled by Chris Richards
Penny Shares Online - penny shares research and information service.
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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