Further analysis: readers will recall that last week the question of the analysis of the £60bn claimed by the EU from us arose since it was clear that nobody seemed to know the answer. This morning we get fresh data. For it transpires that Iain Duncan Smith, who, admittedly, is on our side, declares that it is in fact the EU that owes us money. He remarks that we have got £9bn in the European Investment Bank (one of nature’s lost causes) and that we have a further £14bn in property, cash and other investments (in the EU). The £60bn is arrived at by supposing that we go on paying pensions and so forth forever to the egregious rotters who have worked for the EU. The temptation to pay passes me by.
Incidentally, a few days ago Nick Clegg offered the view that it is perfectly in order to pay £60bn since that is what happens when one withdraws from membership of a club. A curious sort of club! Fortunately the club does not exist and Clegg was merely telling lies on behalf of the Remain camp. Although he constantly lies he is not much good at it.
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Imagination Technologies (LON:IMG) is being sacked by Apple and, as a result, has had two thirds of its share price sliced off this morning. This is a risk with an essentially one customer company. However, swift examination of the balance sheet shows that even at its current 90p IMG is still three times tnav. It’s a bold bunny that goes bottom-fishing here.
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Orosur (LON:OMI) report up to 28th February this morning. The cash is down but this is because drilling for the future is racing ahead. However, the market does not forgive the absence of any cash back to shareholders. And so we languish where we do.
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Talking of Canadian quotes I mention that I caught up with the management of Orsu (LON:OSU) on Toronto’s Venture Exchange last week. The price is 2.5 cents or a rather disappointing 1.5p. Still, there is all to play for and we should keep our fingers crossed.
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Finally, this week culminates with the Grand National. Right-thinking partygoers, such as myself, are already aboard Definitly Red. Seemingly, the weather is set to be generally dry this week. This is probably okay.