daytrades aug 17 morning, page-9

Around the Traps ... with THE FERRET
17 Aug 2011 08:01:00

Sydney - Wednesday - August 17: (RWE Australian Business News) -

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Which came first, the company or the spin?

It had to be the company but the founders of CLEAN GLOBAL ENERGY (CGV) must have rubbed their hands together in glee at their prescience when the Julia Gillard government came up with CLEAN ENERGY FUTURE, a brochure which cluttered into everyone's letterbox.

Clean Energy Future ... sorry, Clean Global Energy ... was in the news yesterday with a quest for funds.

It announced a 1-for-1 offer of options at 0.2c an option with an exercise price of 7c.

Clean Global Future (sorry, Energy) will have to do a lot better in the market for that exercise to be popular.

Last sale before the trading halt was only 3.4c and the quotes have slipped since then.

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VENUS METALS CORPORATION (VMC) laid it on with a trowel yesterday when announcing a new gold discovery at the Bassit Bore Prospect at Mt Phillips (wherever that is ... the company did not say).

Six grab samples were assayed.

"All samples assayed are high in gold, with four of the six samples giving very high to extremely high gold values," the company said.

"The two stand-out assays are 421g/t Au in BB5 and 277g/t Au in BB2 The samples also are high in silver, and strongly anomalous in copper and lead values."

The shares rose 3c to 95c, but slipped to close at 88c.

They were $1.29 on August 1.

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ENVIROGOLD (EVG) plans to change its name to PanTerra Gold .... because, according to executive chairman Brian Johnson, "I have received numerous approaches from prospective investors querying whether EnviroGold identified itself as a technology company promoting the Albion process for oxidation of refractory ores, rather than as a traditional mining company."

Gee, we don't know, that Enviro part has a lot of sex appeal in this huggy/warmy times.

Still, the proposed new name is "generic, will avoid confusion, and be understood in the Latin American countries" where the company operates.

It also looks a lot like the name of a heavy metal band.

Oh hang on, that's Pantera.

The shares fell 0.5c to 16.5c.

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The march of the initials continues.

We're all pretty well used to EBITs, EBITDAs and NPATs by now but it was a first for us yesterday when we came across UPAT in the PERPETUAL (PPT) announcement.

That's U for underlying (although you could probably say it was for uber-profit).

It seems FY11 UPAT will be in line with FY10 taking into account EMCF recoveries (which stands for Exact Market Cash Fund).

The exact UPAT figure will be out on August 26.

Perpetual rose 16c to $22.89.

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SLATER & GORDON (SGH) lifted net profit 40.9pc to $27.9m in the year to June 30 but the market didn't seem to appreciate it.

It fell 14c to $2.10 after the announcement.

Revenues rose 46.2pc to $182.31m.

FY12 revenue is expected to be "more than $200m".

If revenue were to grow at the rate it did in the past year that "more than" would have to be around $266m, which would be closer to "almost" $300m.

Maybe the market sees that as a slowdown in the rate of growth.

The shares are up from $1.38 a year ago and hit a record $2.50 in April.