Bought these the other day on results day and was certainly taken aback by their fantastic growth over the period focussing in on Asia. Ive copied a report from Killik Brokers who sum up the potential far better than I ever could.

Take note of the last Paragraph.

CROSBY CAPITAL Final Results

We highlighted Crosby Capital last year as an interesting opportunity. Its rather complex business structure makes it difficult to analyse and its introduction to the AIM market through a reverse takeover of a cash shell meant that investors have gradually got to know the story over the past twelve months. Nevertheless, it is fair to say that from a placing price of 15p, the rise to 29p suggests the action is underway.

The group is headed by two well known investment bankers including Simon Fry who was former head of Nomura in structured finance alongside Guy Hands. The company was established to house their interests in handling transactions in the Asian region and late last year, the first fruits were delivered with the injection of its oil and gas agreement with Medco which provided them with a carried interest over disposal proceeds above a $120 million benchmark (the expectation is for a sum significantly higher which will provide Lodore Resources with a useful cash injection). Crosby, having placed down 70 million Lodore shares for 10 million gross (5 million net to Crosby), retains 214 million shares worth around 32 million or around 15p per share.

Partially reflecting this disposal, Crosby has reflected part of the profit as it announces for the year to December 31, 2004, it generated a profit of $34 million on $55 million of revenue. The company states that the actual profit to be recognized on the Lodore transaction will be $82 million or 42 million. The total value of Crosby at 29p (new high up 3p) is 60 million. Simon Fry alludes to a healthy pipeline of new merchant banking opportunities coming through and hopes to conclude some this year.

For investors, it appears one is paying a modest premium over current assets for potential significant further upside. ENDS.

DYOR

Speculative punt, that could be a winner.

cheers GF.







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Well the dow has started positively enough - but will it hold ?

baza

Yes that is the big question and will we not see another dive on Friday?. Its just too much a gamble at the moment to commit further money to the market, says he who jumped in yesterday tempted by the cheap price. I just hope we get some real direction as to where the markets are heading over the next few days.

cheers GF.

Yes i hope its not sideways for the summer..JB..

Dow up 206 - good positive start to Friday

Baza

Lets hope so .JB.

It looks like a support level has been created at 10000. But I agree with you goldfinger, the market is looking very uncertain. To me it looks like there a may be a downtrend in place. Am covering my positions with index shorts just in case.

Tallsiii

Didn't get that tallsii can you explain..JB..

This seems to have gone flat,amy views on this GF..JB..

Cant see whats happening Jimmy, this boards technical problems are a pain at the moment . Still holding. We just need a bit of news and itl be off up again.

On a P/E 5 and a forward P/E of 4 theres so much scope for a re- rating.

cheers Gf.

Thanks GF, im holding too..JB..

If there is a scope for re-rating i am sure this must be a safe bet.

Featured as a new BUY 47.5p in Quantum Leap today..JB..

Good news Jimmy i tipped it it at 28p LOL ( I was very lucky) I will add when the markets calm down, but thanks for letting us know. And I really think this one as a big future. Ive tried to get hold of Evil K tonight but hes not ansering. He often takes my tips on board the last one was a bummer though, having said that he still beleives itl come good.

Yes i knew that you had tipped it in march,,unfortunately i was away and only bought in at a higher price ,,however like you say this may have a way to go,,and at the moment im not expecting much from any of my holdings..JB..

Seems to me that all the small cap fliers, including CSB, are being mauled as investors worry about the US debt mountain and take refuge in blue chips. But CSB has an incredibly low PE, now quoted at 2.76 on the FT site, presumably reflecting the new Japanese aquisition. So am planning to keep buying into this one alongside my current favourite recovery stock ELA, which looks like hanging on to its negative PE for ever.
sd.

Anyone still holding this,, another drop today,,bid now 39.5p,,this has such a low PE,,im loathed to stop loss out of it,any view's..JB..

jb: I'm also hanging on and possibly adding, but I would appreciate comment on what the PE actually is - see previous post.
sd.

the thing to bear in mind is that the PE is low because of some exceptional (not in the accounting sense) earnings from Lodore last year. they have more to book this year BUT may find itself trading at a reasonable PE if you strip out these numbers.

it would be difficult to book numbers like these every year so i think the mkt has accorded the stock a low PE this year and next but in real terms expects earnings to be significantly lower a couple of years out (but still healthy) so have put that fact in the price today.

i am a huge fan of this stock and Lodore and have dealt with these guys before when dealing in Asia. I was delighted to find them listed in London and thank GF for the heads up.

I am afraid I baled out last week and reinvested into SEO.

I may come back later as this does seem to have good prospects - but the price keeps on dropping.

Good Luck

Baza

Bid dopped to 37p now back to 38.5p so im staying put. Thanks for your post proptrade..JB..