Morning all.

I see that Ambrian Capital doesn't have a new thread, so thought I would start one myself.

The company used to trade as investment vehicle Golden Prospect, but has widened its emphasis to provide a full brokerage service bringing a number of companies to market in recent times and moving towards launching investment companies, including Golden Prospect Precious Metals, in which it owns a 72% stake.

AMBR also invests on its own behalf, and owns a 9.43% stake in Jubilee Platinum, which has enjoyed a very strong run of late.

AMBR trades on its own account and in March 2006 launched Ambrian Commodities Limited, an Associate Broker Member of the London Metal Exchange, trading all types of metals and now also launching into "softs" such as sugar and carbon credits.

At 31 December 2006 the market value of AMBR's portfolio of listed investments was
31.9 million. It also holds a small portfolio of unlisted investments, with a book value of 4.8 million.

Trading for the FY ending 31 Dec 2006 was profitable, at EPS of 8.16p, up 35% from the previous year, placing the stock on a PE ratio of approx 8.9 at the current offer price of 73p.

Market cap at present is 79 million at SP of 73p. NAV based on the FY results is about 37p per share; you can probably add another 3.7p to that for the rise in the value of shares in JLP since the beginning of this year.

The current PE of less than 9 looks cheap. I have bought on recovery from the recent dip and am expecting this to add at least 10% within a month. I should point out that I am buying as a trading play, but would also consider this as a potential buy-and-hold.

The one thing to watch out for may be a reduction in income from investment banking activities this year as fewer companies launch on AIM. IB made up approx 40% of turnover last year. AMBR was involved in 14 capital raisings, including bringing 5 companies to market, although any likely drop in overall IPO numbers may be ironed out slightly by AMBR's increased profile and business gained from existing listed companies adopting AMBR as its broker and performing corporate actions such as share placings and other capital raisings. The chairman's statement points out that Ambrian Partners, the IB division, is now active in six sectors, whereas it used only to operate in the mining sector, thus broadening both its exposure to the wider market and its client base.

In summary, then, AMBR looks like it has a good future ahead of it, and appears to be slightly undervalued even allowing for a possible drop in investment banking income, given that the company has diversified its interests considerably.

However, I would urge potential investors please to do their own research as all of this is only my opinion.

I bought in at 73.18 this morning (the highest price of the day so far, but I won't let that get to me as I have been watching it like a hawk since Wednesday)(EDIT: I was probably charged slightly more as it was a T+25 trade).

About 460K traded today so far.

But my involvement seems to have been enough to shove the offer price up: AMBR Bid: 72p Offer: 73.5p Change: 1 (the quote was 72/73 when I traded).

FWIW, a recent RNS from 19th April re a major shareholder.

Ambrian Capital PLC - Holding(s) in Company

RNS Number:1446V
Ambrian Capital PLC
19 April 2007


19 April 2007

Ambrian Capital PLC ('the Company')

Holding(s) in Company

On 18th April 2007 the Company was advised that certain affiliated parties under
the control of Global Resources Investments Limited have increased their
interest to 12,307,000 shares representing 11.42% of the total voting rights
from a previous amount of 11,655,000 shares representing 10.82%.

Of these shares, 8,240,000 are held for and on behalf of general partners and
their respective limited partnerships and interest owners of Resource Capital
Investment Corporation ('RCIC') and Resource Investment Management Corporation.
This total includes 350,000 shares owned in a principle capacity by RCIC. The
balance of 4,067,000 shares is held in segregated discretionary accounts.

Buys : Sells 2:1, probably more like 10:1 as there is a 100K trade - the largest so far today - that has been deemed a sale but probably went through late. 636K traded.

And a very strong finish: AMBR Bid: 74.75p Offer: 76p Change: 3.75, +5.23%, 1.3 million traded.

Bit of a lonely vigil for you here, soult. Not many takers!
Have put this on my watch list & will monitor. A bit strapped for cash at the mo, until I cash in the remainder of my SOLA holding, which is likely to be very soon!

Harry, nice to see you here. Yep, I am on my own for the time being - I wish everyone would let me know what they're investing in that's so much better!! :o)

Still, at least the wider market seems to be taking notice, and that's good enough for me!

I will be watching SOLA with interest regarding the outcome of Monday's investor presentation.

as soul* is incapable of putting moving averages + rsi on his chart, i thought i would do it for you!

at current levels, i cannot see a good reason to buy, for not only has sp roared away from the moving averages (actually quite a bullish signal) but rsi is now quite strongly o'bought



red = 25 dma
green = 50 dma

200 dma has fallen off the bottom of the chart!

Chuckle.

Cynic, it's the cheap PE of 9 and 35% profits increase that makes it a good 'un. Fundamentals rather than technicals are going to drive this, IMO.

And a nice start to the day.

And there's more: AMBR Bid: 77.5p Offer: 78.5p Change: 2.5, 1.6 million traded. PE 9.5

thanks for the heads up on this soul* ..... would certainly rather buy this than Soton Footy .... however, am currently pretty much at my investment limit and cannot think what i might sell to make room .... or at least not for the time being

My pleasure, Mr. C! best of luck with your current holdings.

I have to say, though, that AMBR is not only posting bigger rises but also greater volume, day-on-day: AMBR Bid: 78p Offer: 79p Change: 3, 2.1 mil traded.

I hope that this means that the wider market is waking up to this stock.

Great: every time I look at this it goes up!! AMBR Bid: 80.25p Offer: 80.5p Change: 5

2.4 mil traded

I mean, literally every time!! AMBR Bid: 80.5p Offer: 81p Change: 5.25

You know, I'd be getting embarrassed, if I wasn't loving it so much!

AMBR Bid: 80.75p Offer: 81p Change: 5.5

Here's a thought, FWIW: when this hits the apparently magic 100 million market capital, at 92.6p, the PE will still only be 11.35.

So it could have a lot further to go, and again when the SP hits 1.

but don't take my ramp for it. PDYOR. :o)

AMBR Bid: 85p Offer: 85.5p Change: 9.75

3.1 mil traded.

AMBR Bid: 85.5p Offer: 87p Change: 10.75

Well you certainly put a squib under this one!! very nice for you soul. unfortunately I sold as Gol P and failed to buy back even though I saw the presentation on Trading Places a few weeks back. The ceo said they had a lot in the pipeline which would lift the sp but I had no spare cash. well picked soul!

Do you think this rise suggests a poss T/O - EK on t1ps mentioned something in his diary.