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

Yup PT it really is cracking value at this SP.

Once over 100p 'and we stay there' it could really motor on up.

cheers GF.

PS, if you are interested in Merchant Banks which I think you are, have a gander at
Interregnum ITR a tech merchant bank. Its only a small cap of 6 million but looks to me to be way way too cheap. The RNS which the city missed over Xmas says it all. I think theres at least 20 million to be realised on this one. I havent done a reco because its too small and obviously risky. I bought some at just over 6p.

GF,
Glad to see you interested in ITR. I have had a stake since about summer and it is my most boring investment ever!! But I cling on and hope.
Thought I was the only one in it.
Alan

Alan did you see the RNS over xmas showing break into operating profit?. Looks like the top four holdings are worth 20 million. I suppose small size means its off the radar of a lot of investors.

cheers GF.

I was away GF, but read it when I got back. I think, and hope, it will set toungues wagging a bit when it reports its finals, but it seems to be one of those companies who could announce it had discovered the elixir of eternal life and still be ignored.
I can be patient.
Alan

LOL Alan , I have a couple like that.

cheers Gf.

Extending gains.

cheers GF.

There we go.
Over a quid this morning.
Alan

its flying fingers cross!!

Nice rise this morning - up, up and away

The question is though.......who's collecting?
The trades are almost all sells but the price has risen. Who has a made a large purchase order?
Alan

Blimey Ive just switched on and saw the price on the leader board.

Big buy to,show up at the end of the day?.

cheers GF.

Just had a look at the individual trades are those triggers which have been activated on the sells?.

cheers GF.

Moved up higher.

cheerrs GF.

i am sitting here very smug!

Yep, hats off to GF for starting this thread and you prop for regular, informative, confident updates.

Cheers, Madison

D'accord.
Originally in at 29.75, so very happy.
C'mon GF. Work your magic on ITR now!!!
Alan

Back in the blue. Shame we had the sell off yesterday just when this one was getting going.

cheers GF.

Moving up nicely.

cheers GF.

Moving up nicely this morning.....
From Shares Mag.
Plays Updates:
*Buy Griffin Mining (GFM.L) and Crosby Capital (CSB.L).

cheers GF.

And theres me thinking it was just a bounce back from "Asian uncertainty" over the last couple of days.
Alan