Net asset value update at 30 June 2016

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 2016	31 December 2015	30 September 2015
Trading portfolio value	£1.29m	£1.11m	£1.04m
Company net asset value	£1.19m	£1.12m	£1.14m
Net asset value per share	3.09 pence	3.02 pence	3.09 pence
Share price - mid	2.12 pence	2.38 pence	2.75 pence
Share price discount to net asset value	31%	21%	11%
Market capitalisation	£0.82m	£0.88m	£1.02m

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 £113,322 (31 December 2015: £248,248).

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 [e-mail] or John Watkins, Finance Director 07768 512 404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.

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