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.







Powered by IST's

Nice to see it up near year highs, now thats more like it.

cheers GF.

What a call GF made @33p
It is now 54p....... this share is hot (shame never got in it in time...)

Great Work GF!

I think GF called it at 29p sidtrix,i sold out the other day , dam it !!to impatient.

Yup doing well again today. Just hope it stays above 50p for a few days and then we should be really away then.

cheers GF.

i think GF made the call at 29p!

I might have read it a day or two later than he posted the article... Well Jimmy, I sold SEO @ 23.5p and the next day it rose to 30.5p!
lol I was kicking myself coz earlier it kept resisting at 23p and falling back to 18-20p so was playing the tides... waiting for it to hit 22p then will jump in again :)

Well done GF - another feather in your cap - I am afraid I baled out when it hit my stop loss.

Baza

Another good day so far.

cheers GF.

anyone heard any whispers that might explain the last few days on this one. I am delighted with it but would love to have an inkling why.
Alan

no reasons just a growing awareness of this comapny and management style.

Oh dear, wonderful though the ride is proving to be, I am now agonising over whether to sell and lock in profits as I had to do with GMC and SEO. My experience of overlaying high fliers on Sharescope charts, suggests to me that no share can maintain a steep rise for very long, without the laws of gravity re-asserting, so I'm wishing CSB would slow down, or at least take e breather.
Any thoughts?
sd.

Or is it to do with IB Daiwas recent exponential rise?

http://www.bloomberg.com/apps/quote?ticker=3587:JP

I'd totally agree with squidd, I hope this would slow down. I am a holder of this share myself bought in at 50P.

the IB Daiwa deal is now in theory worth 45 million. not bad for a months work!

Thanks for that Proptrade, that does seem to be the cause of the rise. It goes to show that it is worth keeping note of a company's underlying asset value. CSB did not start to take off until the 30th of May, by that time IB Daiwa had already shot up to 60Yen. So 15 million pound of value had been added to the CSB before anyone noticed.

Part of me wishes that I had been the one to notice this and had topped up in a big way. But part of me just takes solace in the fact that markets are not efficient and this will not be the last opportunity of it's kind.

Tallsiii

sealed: proptrade: tallsiii: Thanks for the news item.
Peter123: Now thinking of adding if there's a retraction, instead of selling.
sd.

Lets hope investors don't take profit. Lets wait and see tomorrow. This stock is on a upward momentun.

Just been tipped regarding this stock, it looks to good to be true.. I need to do my own research but it looks very promising from the little investigation I have done so far.

their assets are great but extreme caution is advised.

1. ignore the p/e level. that is artificially high because of the Lodore stake.
2. Lodore at mkt cap 90 million is off the charts the wrong price. they have one asset (just bought) and the potential only of cashing in something fromm the crosby aquisition (Sunov).
3. the IB Daiwa is HIGHLY volatile and may be worth a fortune on paper but the Japanese are pumping this up on the hype. yesterday the stock went to 158 yen and back again (a 50% swing in a day!)

SAYING ALL THIS,

1. management is top notch
2. they are seeking and have completed complex deals outside the realm of most funds and equity investors and on paper have stellar returns.
3. they have a fantastic track record

CSB already a 130 million pound company and its assets are based on the share prices of other volatile companies. if lodore doesn't deliver the CSB has to write back ewhat they have taken.

Bottom line is that i am LONG and feel that this is a company with great potential but doen't remortgage just yet until there is stability in Lodore and IB Daiwa...

It would be interesting to see some volume figures for IB Daiwa. I would hate to think that the price of that share is being manipulated in any way.