A Multi-bagger if ever there was one!!! once this hits the papers, see it double.. treble...see announcement

i suppose it could get to about 1.70p, companies rarely reach there nav price
but like you said it looks a bargain,

true, but these cash shell co's can go astronomical depending on the investment and the financing, it may get reversed into!

This share is currently trading at a quarter!! of the value of cash it has. People must think it's too good to be true, it's the staringly obvious money for nothing investment opp that they'll regret not taking. I am topping up again.

Not too keen on the spread but good BETA of 1.44 so I have dipped my toes

Sorry Oakapples, what does BETA stand for - something trading average? Someone was tipping this to go to 3 last week, the current sp seems ridiculously undervalued and totally overlooked and so far i'm not aware that it's been noticed by the penny share mags or papers. It's not a liquid stock so will be very volatile, one press article could double it overnight i'm sure. The directors must think so too by their rcent announcement.

Hi Robstuff - BETA - Measures the extent to which a share can, on past performance, be expected to perform in line with market movements - in the case the FTSE 100.
A BETA greater than one means that it is expected to go up faster than the index.
You can find BETA for a stock by clicking on EPIC and then Company Summary or Fundementals -

Whilst we are talking about stock market knowledge may I ask a question?
On the 26th July Robstuff said Don't buy it unless you're prepared for a bumpy ride
He was of course right.to date.
My question is, how did you know this?
Also, before the last rise of CCO how did you know the stock was due to rise?
I know this may sound simple to some of you but I am fairly new to this game.
I hope someone can help me!

Phil.

Philip3
It all kicked off about the beginning of june when all this money was announced but held in a brazilian bank!
Lots and lots of speculation to whether they could actually get their hands on supposidly their money and free it up for investments worldwide.
This is all becoming a bit clearer in recent news,think they have to invest some of it in Brazil before it is released.........If all goes to plan then lots of money to be made from this one..still lots of if's and but's though.
A very speculative punt,held for one month but lost me nerve(would be in profit now,grrrrrrr)-lol
Try looking over on advfn (sorry Money am) but be very carefull.
Just my opinion,due to no-body else answering your question

Thank's for that Oakapples. Philip3, banjomick has summed it up well. The reason I said this sp would fly is quite simple, they have cash worth 225p per share and the sp is currently less than a pound. The reason shares never go up in a straight line is that invariably there are ifs and buts and some may take profits, some may feel it's too good to be true and then you have mms manipulating prices to get hold of stock etc. I think we should see 1+ again by end of week or maybe 1.50 it just depends on how nervous investors are. As ever DYOR and don't invest anything you can't afford to lose - good luck.

or maybe today!

All going very nicely this morning until a flood of profit takers. IMO this one will still finish over 10% up on the day. I note at the AGM there is to be a company name change to LANGBAR INTERNATIONAL LTD. Dont know when or why. Any views or news? I am still researching and may yet dip my toe in further following a smallish punt yesterday.

Thank you very much for your help banjomick and Robstuff much appreciated.

Further to post 15 - seems that Crown bought Langbar Capital which was owned by Crowns newly appointed CEO Stuart Pearson and his family, and Crown is to become known as Langbar International (very Interesting!!) I have sent them an e-mail asking for date of change. It will be most interesting to see what transpires with negotiations with Brazilian bankers as some of the investment opportunities they are recommending within Brazil appear lucrative. Rather too many profit takers today, and you cant blame them, but IMHO this may only be a short but very profitable ride

72/77, but trades at 74p are buys ( one is mine )

What's the cash doing in Brazil and is it likley to be re-patriated. What's the story here?

have a look at the thread on adv fn for the info Scrip

Looking ridiculously cheap again!! time to top up- wish i had spare cash, could go to 2 overnight.

superrod, That's one hell of a thread!

Any quick appraisal would be much appreciated.

dont know about the rest of you guys, but im not convinced ( especially after that savage mark down ), that all is as rosy as it looks.
i had been quoted 73.3 to sell most of the day.

Scrip,
the main thrust is that CC has cash worth 3 to 4 times the shareprice in brazil and they are in the process of transferring it to europe.
there are some who are saying they have ASSETS of 240p a share, which would appear to not be the case from the recent announcement ( thank God ). companies with assets can realistically write of 75% if they ever need to sell them. we are talking about HARD CASH here.
i live in hope.

This is where some of Crown's cash is going.

EDIT: On reading all the recent RNS, it appears that CCO's Brazilian deposits are NOT being used for this JV, which will instead be funded by new money to be raised by CCO's recently acquired subsidiary from its new Chairman/CEO Sturart Pearson, Langbar Capital International. So the JV has no cash currently.

MOS International plc

Joint Venture Agreement

MOS International plc, ("MOS"), the oilfield services business, announces the
signing of Heads of Terms for a joint venture to be entered into with Crown
Corporation Limited ("Crown"). Crown is an AIM listed investment company.

International Drilling Corporation ('IDC'), the joint venture company, in which
MOS and Crown will each have a 50% interest, will commission the building of oil
rigs and major capital projects connected with the drilling and exploration
industry.

There is a strong demand for new oil rigs and this is expected to remain high
for the foreseeable future. IDC will not be commissioning the building of any
major structure without pre-signed leasing or purchase agreements.

Crown is to raise the project finance for IDC whilst MOS will provide project
management and industry expertise.

As part of the arrangements, Philip Wood, Chairman of MOS, who recently joined
the Crown Board as a non-executive director, will take specific responsibility
for driving this new initiative.

Philip Wood, Chairman, MOS International commented:

"This new venture is complementary to our existing business and means we will be
able to utilise the product knowledge MOS possesses. Crown can provide the
financial backing, and combined with our in-house expertise and worldwide
contacts I believe that we can develop a substantial business that will provide
good returns to both parties".


22nd June 2004

Philip Wood was until recently also Chairman of Emerald Energy with big oil interests in Colombia. Not so far from Brazil - and he's a shrewd operator. So it wouold appear that Crown's cash is genuine, although we do not know how much is being committed to MOI.

MOI's SP has been languishing sub-1p for a while now in spite of a well-orchestrated overhaul of the company by PW. Given the oil boom, MOI is a punt on the "shovels-not-gold" type of investment philosphy to which I am a subscriber.

sd