Starvest PLC Net asset value update at 30 June 2016 (3031D)
July 06 2016 - 2:00AM
UK Regulatory
TIDMSVE
RNS Number : 3031D
Starvest PLC
06 July 2016
6 July 2016
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 30 June 2016
The Company announces the net asset value as at the close of
business on 30 June 2016 as follows:
30 June 31 December 30 September
2016 2015 2015
Trading portfolio GBP1.29m GBP1.11m GBP1.04m
value
Company net GBP1.19m GBP1.12m GBP1.14m
asset value
Net asset value 3.09 pence 3.02 pence 3.09 pence
per share
Share price 2.12 pence 2.38 pence 2.75 pence
- mid
Share price
discount to
net asset value 31% 21% 11%
Market capitalisation GBP0.82m GBP0.88m GBP1.02m
All valuations are based on the closing market bid prices or
lower directors' valuation as described in the 2015 annual report.
The discounts applied to bid prices at 30 June 2016 totalled
GBP113,322 (31 December 2015: GBP248,248).
A renewed interest in metals and basic resources are apparent
with significant improvements in portfolio companies Greatland
Gold, Ariana Resources and Kefi Minerals as an example. Recent
additions such as Salt Lake Potash and Diamandcorp are also holding
their own and considerable gains in Oracle Coalfields reflect
advancement of their abundant assets.
Callum Baxter, Chairman and Chief Executive commented, "We are
likely to have seen the bottom of the commodities cycle recently
and this ever present sector is coming back into favour. Gold is up
and base metals are following. As a result we are making solid
gains with several of our investments in an improving environment.
Further acquisitions will be announced in the coming weeks."
Callum N Baxter
Chairman & Chief Executive
6 July 2016
Enquiries to:
Callum Baxter, Chairman callum@starvest.co.uk or John Watkins,
Finance Director 07768 512 404; john@starvest.co.uk
Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020
7383 5100.
END
This information is provided by RNS
The company news service from the London Stock Exchange
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