Starvest PLC Net Asset Value(s) (2960V)
November 01 2017 - 10:57AM
UK Regulatory
TIDMSVE
RNS Number : 2960V
Starvest PLC
01 November 2017
1 November 2017
Starvest Plc ("Starvest" or "the Company")
Net Asset Value at 31 October 2017
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed
specialist mining and resources investment business, is pleased to
announce a Net Asset Value update as at 31 October 2017.
Highlights
-- Monthly Increase in Portfolio Value of 55% to GBP2.36m,
-- Net Asset Value over 5p per share,
-- Improving market conditions and increased mining sector activity.
Callum Baxter, Chairman and CEO commented: "Management have been
positioning the Company to take advantage of a recovery in the
exploration and mining sector. Now we are seeing a much improved
market and many share prices are benefitting from the positive
sentiment. The value of our investment portfolio has increased
markedly over the past month by more than 55% and our net asset
value is over 5p per share. We are experiencing an increased
interest in our portfolio positions and upside potential from the
improving market."
The net asset value as at the close of business on 31 October
2017 is as follows:
31 Oct 30 Sept 2017 30 Sept
2017 2016
Trading portfolio GBP2.36m GBP1.52m GBP1.37m
value
Company net asset GBP2.67m GBP1.88m GBP1.27m
value
Net asset value 5.05 pence 3.56 pence 3.21 pence
per share
Share price - mid 3.50 pence 4.62 pence 2.25 pence
Share price discount
to net asset value 30% -30% 30%
Market capitalisation GBP1.85m GBP2.44m GBP0.89m
All valuations are based on the closing market bid prices or
lower directors' valuation as described in the 2016 annual report.
The discounts applied to bid prices at 31 October 2017 totalled
GBP234,741.
A recovery in the exploration and mining sector continues and
our portfolio value has increased markedly. From the lows of 30
September 2015 where our portfolio value was GBP1.04m we are now
seeing a portfolio value of GBP2.36m representing an increase of
more than 225%. Over the month to 31 Oct 2016 the increase in
portfolio value was more than 55%.
The recent increase in value can be largely attributed to the
rise in the share price of Greatland Gold plc (LON:GGP)
('Greatland'). Greatland's hard work and valuable gold projects
have been recognised by the market, and significant cash generation
through exercise of warrants sees Greatland in a strong position to
accelerate exploration activities going into 2018. Greatland are
also currently co-operating with global gold major Newmont Mining
Corporation (NYSE:NEM), via Australian subsidiary Newmont
Exploration Pty Ltd, over a large gold prospective region in
central Western Australia. Greatland also has licences prospective
for conglomerate hosted gold in the very active Pilbara region of
Western Australia.
Currently we are experiencing an increased interest in our
Starvest portfolio positions and upside potential from the
improving market. We look forward to adding further significant
opportunities in the coming weeks.
Starvest is a specialist mining and resource investment company
and has the industry knowledge and market exposure to select
compelling opportunities early in the investment cycle.
Investors are encouraged to view our RNS feed on the Starvest
web site www.starvest.co.uk/announcements
Callum N Baxter
Chairman & Chief Executive
1 November 2017
Enquiries to:
Starvest PLC
Callum Baxter Chairman/CEO +44 7922 255 933
cbaxter@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke +44 2073 835 100
SI Capital Ltd (Appointed Broker)
Nick Emerson +44 1483 413 500
This information is provided by RNS
The company news service from the London Stock Exchange
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