Forum Archive Index - April 2003

["Kerry Doson" <croca@ozemail.com.au>]

Snoopy,

Pan Pharma PPH notwithstanding, most of the legit Oz biotechs have already
put on 20% since their early March lows: CMQ 26%; BTC 20%; NRT 20%; PTD 40%
PSX 60%; PSD 12%; SIG 18%; MIA 18%; SDI 12%; SIE 21%.

There are still a few gems languishing however. ACU -3%; EPT -11%; VRI 1%;
IAT -10%; SHL 6%;VSL -6% and CCE -10%.

My own favourite is Biotech Capital BTC, which offers the only listed access
to Proteome Systems.
Biotech is a $40M investment fund with half its cash invested in 6 unlisted
cutting edge companies.

Only half invested, it has 24c/share cash - valuing its investments on
current prices at around 8c/share.
Those investments are Alchemia, Biocomm, Pacific Knowledge Systems, Xenome,
XRT and the jewel in the crown, Proteome Systems in which it has $5.37M
invested for a 2.57% stake in the company.

On April 14 they flagged the immanent announcement of a seventh investment
and the heads have risen 20% in the interim. (Too much to hope they've
doubled their stake in Proteome). Their investment analyst is a former Otago
University graduate.

There are two drawbacks:
 - They are part of Packer's Challenger Group and he's no doubt eyeing them
off as a great little cashbox once things pickup.
 - In a fit of irrational exuberance I picked up Sept03 options,
exerciseable at 50c, which remain well and truly out of the money - Though I
live in hope.

Anyway the heads look good if you have the necessary buy and hold patience.
Best wishes, Newz (with the usual disclaimers...)




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