Grafico Azioni Starvest (LSE:SVE)
6 Mesi : Da Giu 2019 a Dic 2019
RNS Number : 3860E
03 July 2019
3 July 2019
Starvest Plc ("Starvest" or "the Company")
Net Asset Value at 30 June 2019
Starvest PLC (LON:SVE), the London Stock Exchange AIM listed specialist mining and resources investment business, announces a Net Asset Value update as at 30 June 2019.
Callum Baxter, Chairman and CEO, commented: 'The first six months of 2019 were difficult for many smaller exploration and mining companies as capital market funding for important field programs was considerably reduced. However, the few companies that advanced projects and delivered encouraging results were mildly rewarded for their good efforts, and their higher share prices are reflected in our NAV as at 30 June 2019. While the value of our portfolio has fallen back over the last quarter, our trading portfolio value has increased 33% from 30 Sept 2018 (Starvest's financial year end) to 30 June 2019, while the Company's net asset value per share increased 25% over the same period. The gold price has made significant positive moves in the past weeks, increasing approximately 10%, and this combined with positive exploration and production results can realise multiple benefits for our investee companies. We remind shareholders that while our portfolio is commodity-diverse, gold remains one of our focus commodities. As such we have larger positions in several gold-based companies and have recently increased shareholdings. We will continue to seek compelling investment opportunities and look forward to updating the market in the coming weeks.'
The net asset value as at 30 June 2019 was as follows:
30 June 31 Mar 2019 30 Sept
Trading portfolio value GBP2.00m GBP2.26m GBP1.50m
Company net asset value GBP2.15m GBP2.30m GBP1.65m
Net asset value per 3.85 pence 4.15 pence 3.07 pence
Share price - mid 2.15 pence 2.65 pence 2.15 pence
Share price discount
to net asset value 44% 36% 30%
Market capitalisation GBP1.20m GBP1.47m GBP1.16m
* Includes formerly applied discount
All valuations are based on the closing market price.
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
3 July 2019
Callum Baxter or Gemma Cryan 02077 696 876 email@example.com
Grant Thornton UK LLP (Nomad)
Colin Aaronson, Harrison Clarke or Seamus Fricker 02073 835 100
SI Capital Ltd (Broker)
Nick Emerson or Alan Gunn 01483 413 500
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(END) Dow Jones Newswires
July 03, 2019 07:41 ET (11:41 GMT)