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Penny Share Review 463

Monday 20 October 2008

‘Deal of the Day’ in The Times on Saturday reported Clive Sinclair-Poulton, Director of Beowulf Mining (BEM), taking “advantage of a slump in its share price” buying 100,000 shares at 2p. It went on to note the fall in the stock, as funding worries hit the sector, though commented that the business has enough cash for two years, with financing deals on three of its projects agreed. Despite this, however, the share price was unchanged at 2.00p this morning.

The Daily Express on Saturday highlighted that Martin Brooks, Chairman of IDOX (IDOX), had acquired 300,000 shares, as the stock fell below 10p for the first time since April, at which time he had also added to his stake. The piece highlighted that he chose not to take subsequent potential profits back in the summer, and the share price was 0.375p higher at 10.25p during today’s early trading.

Lithic Metals (LMY) was ‘Tiddler to Watch’ in Saturday’s Times, after its price increased on announcement it encountered multiple uranium zones in Zambia. Nevertheless, the shares were unchanged at 2.75p earlier today.

Derek Pain’s ‘No Pain, No Gain’ section of Saturday’s Independent featured Nighthawk Energy (HAWK). Mr Pain commented that the shares had suffered as the energy sector lost enthusiasm, reflecting lower oil prices, but went on to report belief that the stock is ‘heavily oversold’, noting progress on US operations. He added, “Today’s climate is a share tipster’s hell, although it should turn out to be a veritable paradise for long-term bargain hunters.” The price added 0.25p to reach 32.50p following this press attention.

Prices above were taken at around 10:19am on Monday, 20 October 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.

Central China Goldfields (GGG): Drilling Report.

Encore Oil (EO.): Esmond Drilling Update.

FfastFill (FFA): Contract Win with NYSE LIFFE.

Intelligent Environments (IEN): Director Shareholding.

Pantheon Resources (PANR): Drilling Report.

Vyke Communications (VYKE): Q3 Trading Update.

Zambezi Resources (ZRL): Directorate Change.

Look out for this week

Monday, 20 October – UK Public Sector Finances.

Tuesday, 21 October – UK Property Transactions.

Wednesday, 22 October – Nothing of note.

Thursday, 23 October – UK Retail Sales (September). BBA Mortgage Approvals. US Weekly Jobless Claims.

Friday, 24 October – UK GDP (1st Estimate) Q3.

The next Penny Share Review will be posted on Monday, 27 October 2008.

Compiled by Chris Richards

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