Island Oil & Gas: one of our more speculative investments

We bought these shares at 104 pence. The share price rose to 135 pence but then fell dramatically over the past year (blue line). The FTSE100 has risen fairly steadily by comparison (purple line).

However, the latest report by the company's financial adviser values the company at twice its current share price of 64 pence!

Download the report (PDF) here

How about investing in De Beers? The Cullinan diamond mine is for sale

(a) We toured the Cullinan diamond mine last week; (b) the workings of the shaft are powered by British motors (Metropolitan Vickers); (c,d) their biggest diamonds are now part of the Crown Jewels.

Report for March 2007

March was a decent month overall with our Unit Value following the FTSE100 up by 1% to 124.44. The only stock to be concerned about is Island Oil and Gas, but we have agreed to hold this for the medium term while they find some gas in the Celtic Sea!

Note that we bought £500 worth of Units in F&C Multi-manager Growth and in China Growth this month.