Beximco Pharma (BXP) reported this morning on the half year to 30th June 2015. They are a really strong set of figures. As has been noted here many times before the GDR’s, now 20p, enjoy underlying earnings of 4.3p p.a. At the GDR price BXP is capitalised at £75m as against tangible net assets of £178m. This is surely a very cheap share.
Madagascar Oil (MOIL) did not offer an RNS yesterday as to its tie-up with Symbion in Madagascar. But this is hugely bullish. I bought a token further 125,000 at 8p. MOIL would like to get away a placing to raise perhaps $30m. But, absent that development, these extra deals/financings – there was a loan the oher day of $5m – things are coming along. Sooner or later, or so I surmise, there’ll be a rush to get in on this one and the stock will be bid only.
Finally, I have shorted Globo (GBO) again – this time at 47p. As a company it stinks and I regard this morning’s IC enthusiasm as wholly misplaced.