Evil Diaries: Cash at a discount

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Evil Diaries: Cash at a discount

Although I think that we are still in a bear market quite a number of shares are emerging as ridiculously oversold. So I repeat the very strong buy recommendations I have made for both Logistics Development Group (LDG) and Rockhopper (RKH).

LDG has 562m shares at 12p or a capitalisation of £70m. In the balance sheet there is no debt, investments at market value of £30m and cash of £80m. For some reason the directors have held back from buying in more stock on top of the 120m odd that they have already bought. I do not know why and the PR people, the indicated avenue, do not either.


Rockhopper is virtually certain to receive E236m by 30th November from the Italian government. Reservations as to the certainty of receipt are clearly misplaced. The effect will be that the tnav will be a startling £359m as against a capitalisation of £80m. The tax position on the Italian receipt is not clear to me (although presumably the directors do know). Even so RKH is ravingly cheap at 13p.

Comments (1)

  • philip baker says:

    Evil, did you ever get to read the REA rsults, i would love to hear your views on this one, especially with the palm oil price touching $895 recently.

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