Crosby Asset. Share Discussion Threads

[lbo] 04/4/2011 14:30

from iii

"AIM has also been a disaster in which investors have lost billions: just look at Desire Petroleum (DES), whose shares stand at just a fifth of last year's peak after the oil it thought it had discovered turned out to be water; or Madagascar Oil (MOIL), worth more than £150 million last year, but whose shares are now suspended on fears its licenses could be seized by the country's government"

[bingowing] 02/4/2011 09:51

I have moved some funds away from csb into AHG. still have a nice chunk in here but getting tired now...

[bingowing] 02/4/2011 09:49

Seems with have a5% stake in ahg

[theshareguru] 31/3/2011 20:35

year end results due soon

[lbo] 31/3/2011 16:10

One man called it right!



Still on the soi disant (after all, just where is the oil?) oil patch, John McKeon, into whom I bumped a year or so ago when he was revving up Circle Oil (COP), now has no less than FIVE AIM vehicles where John is surely far too affable to be that busy effectively. Circle Oil is respectable but none of the others is anywhere near. The latest ramp to emerge is Crosby Asset Management (CSB) which started off at nuppence and is now 6.5p and capitalised at 18 million

[theshareguru] 31/3/2011 14:20

bid price moving up a tad

[theshareguru] 30/3/2011 16:30

news i feel will come in april, just got that feeling, I am heavy into csb
but I am sure it will pay off .

[napoleon111] 30/3/2011 10:44

He may be overly busy with ngp at the moment, give him a break, our time will come, patience is needed here, wont be making any of us millionaires over night, but down the road, if you hold from these levels, you will be smiling, all imho

[filterwest] 29/3/2011 10:44

Jo, I agree at least some update.

[jojo_jo] 29/3/2011 00:41

The main man needs to get a move on - he's had months now to shop around, and now has some decent funding, which should provide some clout. If he doesn't he'll soon be getting calls from his angry investor friends who bought into the placing. They're underwater too now!
Just something simple like... "opportunities have been identified and an announcement will be made as soon as it is prudent to do so" will do for now.

[filterwest] 28/3/2011 19:53

Got a big holding here and I'd not too happy with this. When news this will be forgotton. GLA

[sirraman] 28/3/2011 18:23

looks like the share price is in decline now as we have no news from the company.....MMs may continue to take this down until we have news .....think the big investors who coughed up dosh at 4p can't be too happy with this.....???

[jojo_jo] 28/3/2011 16:55

This share jumped from next to nothing on reverse into a shell, so there won't be any support, or other relevant chart information.

[bingowing] 28/3/2011 13:13

3.3 is 61% fib retracement....

[bingowing] 28/3/2011 13:11

worryingly, there is no support line on the chart.

[jojo_jo] 28/3/2011 09:21

Looks to me like we have actually bought into a private equity company. Hopefully the focus will remain in oil, as originally expected. I attribute recent share price fall mainly to early beliefs it would invest in the North Sea, which has just been hammered by a Govt windfall tax. Perhaps they will reconsider now going into the North Sea, although the tax was likely a one-off and there are promising tax breaks and other incentives for new investment there. This could make the area a good opportunity for newcomers.

At least they now have access to substantial amounts of capital which they can leverage on shareholders behalf, which is very positive indeed. At this share price it is a better buy than ever, but may drift until some direct investment news appears. Assume, now they have a decent war chest, they are running the slide rule over a few bargains.

Need some news or reassurance (even a rumour!) else this could continue its gradually slide.

[bingowing] 26/3/2011 15:18

The Shikumen team that recently merged with Crosby Asset Management gets its new illiquid product off the ground on the way to a target of $250 million.
The Blackpine Private Equity Partners Fund has successfully attained its initial close with assets of $80 million, on its way to a target size of $250 million. It plans to reach that figure with the participation of US and European institutions.

That number breaks down to $30 million from partners, $40 million from Shikumen investors and $10 million from other third-party money. The investment period is three years, with a five-year term and two one-year extensions. The management fee is 2% and performance fee is 20%, with a 9% preferred return (i.e. hurdle).

[bingowing] 26/3/2011 15:15

'The board of Crosby (the "Board") today announces that, following further demand from professional investors, the Company, on 10 February 2011, raised £750,000, before expenses, by way of a subscription for 18,750,000 new ordinary shares of US$0.01 each in the share capital of the Company (the "Subscription", the "Subscription Shares") at a price of 4 pence per share (the "Subscription Price"), to four separate professional investors. The Subscription Price represents a discount of 20 per cent. to the closing mid market share price on 10 February 2011.

The Board is pleased to confirm that it is actively pursuing the Company's investment strategy and that the proceeds of the Subscription will be applied to this objective.'

Just let them get on with it....

[pwhite73] 26/3/2011 10:38

waldof - 25 Mar'11 - 17:16 - 1376 of 1377

"Indeed they will be burning cash.........but it's reasurring to know it's their mates cash not ours!"

You muppet its not their mates cash its yours. Since the recent placings have you read any holdings announcements from the so called "professional investors"? No of course not because the professional investors are the bucket shops that have passed on the placing shares onto you.

[bingowing] 25/3/2011 17:34

'It takes time to make investments that our worth while'

those were the exact words i heard from the other end of the telephone.

[waldof] 25/3/2011 17:16

Indeed they will be burning cash.........but it's reasurring to know it's their mates cash not ours!
That will concentrate the minds of those who forked out all that money two months ago.

[sirraman] 25/3/2011 16:33

bingo - 6 months eh - well...in that case they don't seem very dynamic and go-getter unit and they will be burning lot of cash in all that time!!

[bingowing] 25/3/2011 16:01

I spoke to them on the phone! 6 months is there time frame and that was about a month ago........