Net Asset Value at 30 June 2019

RNS Number : 3860E

Starvest PLC

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 2019	31 Mar 2019	30 Sept 2018*
Trading portfolio value	£2.00m	£2.26m	£1.50m
Company net asset value	£2.15m	£2.30m	£1.65m
Net asset value per share	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	£1.20m	£1.47m	£1.16m

* 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

Enquiries to:

Starvest PLC

Callum Baxter or Gemma Cryan  02077 696 876  [e-mail]

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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