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Penny Share Review 467

Monday 17 November 2008

The Daily Mail on Saturday featured EMED Mining (EMED), noting upturn in the share price as the Company announced appointment of Goldman Sachs as lead arranger for project finance last week. The piece went on to reiterate that broker Fox Davies Capital has a 94p target price on the stock, which was unchanged at 10.00p earlier today.

Derek Pain’s “No Pain, No Gain” section of Saturday’s Independent included Nighthawk Energy (HAWK). Mr Pain commented that although ‘excellent trading bulletins’ had been issued in recent weeks, the market reward that could have been expected in ‘less torrid times’ had not been received. He went on that the Company is one of the few energy players with cash in the bank and that it seems to be making progress, with one site potentially containing up to 1.5 million barrels of oil. The article noted that Daniel Stewart thinks the shares are worth 100p, while Growth Equities & Company Research values the stock at 147p. The Weekend’s Financial Times added that the shares had risen on news the Centurion project in Kansas had started production. Nevertheless, the price was 0.25p lower at 38.25p this morning.

Renewable Energy Holdings (REH) appeared in The Mail on Sunday under the headline “Wind farm group looks like turning a tidy profit”. Reviewing the business, the commentary stated that UK farms alone are capable of creating enough electricity for 40,000 homes, growing to 100,000 by 2010. It continued that full-year numbers should show further progress and that the loan facility from Standard Chartered should more than meet ongoing needs, concluding, “REH shares have been rising in recent weeks and are trading at 38.5p. However, brokers believe they are worth close to 70p. Buy.” The price was 3.25p better off at 41.75p earlier.

Prices above were taken at around 9:54am on Monday, 17 November 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.

Coffeeheaven International (COH): Holdings in Company.

Galleon Holdings (GON): BAFTA Nomination and Appointment.

Hidefield Gold (HIF): Change of Broker.

ILX Group (ILX): Interim Results.

Judges Capital (JDG): Acquisition Activity.

Proventec (PROV): Convertible bonds to be listed on Alternext.

Red24 (REDT): Director Shareholding.

Reflec (REF): Holdings in Company.

Scotty Group (SCO): Final Results.

Look out for this week

Monday, 17 November – Results from ILX Group (ILX) and Scotty Group (SCO).

Tuesday, 18 November – Consumer Price Inflation Figures and Retail Price Inflation Figures (October).

Wednesday, 19 November – Confederation of British Industry Monthly Industrial Trends.

Thursday, 20 November – Retail Sales Figures (October).

Friday, 21 November – Nothing of note.

The next Penny Share Review will be posted on Monday, 24 November 2008.

Compiled by Chris Richards

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