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Risk Warning
29/11/2010
LonZim was established in 2007 as a Zimbabwean investment vehicle. Its net assets are worth approximately £33 million and cover a wide range of activities, including hotels, telecoms, IT, marketing and printing.It is loss-making, with the latest figures returning a pre-tax shortfall of £5.7m, after a profit of a little over £1m last year.
Nevertheless, net assets were 87.2p and revenue jumped from £2.6m to £4.9m.
LonZim was originally floated from the African conglomerate, Lonroh, headed-up for years by tTiny Rowland, perhaps best known for his acrimonious feud with the former bossADVERTISEMENTof Harrod's, Al Fayed.
To say that Zimbabwe's economy remains a basket case is to insult the manufacturers of baskets. However, Rhodesia, as it was then called, used to be one of the principal engines of economic growth in Africa with an enviable, if colonial modus operandi. What Zimbabwe will look like post-Mugabe is anyone's guess. However, LonZim's shares could be worth looking into as a potential stocking filler, an optimistic commitment to the future of what was once an industrial powerhouse.
LonZim
28.8p -0.2p
Scotsman says BUY
BROKER SNAPS:
SOUTH East Asia focused minnow Salamander struck oil off the coast of Indonesia. Richard Curr, head of dealing at broker Prime Markets said the find at the Angklung-1 well was "an encouraging step forward after a relatively disappointing year" after the stock trading has been trading at a discount to sector.
Salamander Energy
243.1p +4.3pt
Broker says BUY
EVOLUTION Securities' James Hollins has taken a dim view of the online gambling site Betfair which faces tougher regulatory risk and not much chance of major growth. He warns the slump in shares last week is just the start of a bear run as market was starting to appreciate "considerable risks" in the group's business model.
Betfair
1,305p -6.8pt
Broker says SELL
Securities and Derivatives markets may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it carries a high degree of risk. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. If in any doubt, please seek independent financial advice.