Starvest Share Discussion Threads

[brando69] 22/11/2010 12:53

it definitely responds to the NAV, though always lags behind it - as do most fund SPs to NAVs. But a 50% lag is way to much...

if this gains wider coverage and interest, bruce rowan's ability to pick multibagging minnows cld even see this share trade at a premium to NAV imho... on day...

[diggerking] 22/11/2010 12:49

Does the share price of SVE bear any relationship to the NAV,in %tage terms?

Or does it just do its own thing?

[brando69] 22/11/2010 12:45

rises in bem, ggp, kefi, rgm and rrr today have added about 1.1 m to the portfolio NAV by my reckoning

[brando69] 22/11/2010 12:34

starvest have 5 of today's top 25 risers in their portfolio - including the top riser itself, greatland - up 48% as i write. i would imagine this is probably a record day for starvest in terms of a single day's rise in nav

[brando69] 22/11/2010 12:20

bruce will be a happy man today

his investment in PMK is also going great guns

[eacn] 22/11/2010 11:32

Zutalors, the discount is to the net asset value AFTER taking into account potential tax on gains. Tax and dilution from options have been factored into the 24p NAV quoted in the header

[zutalors] 22/11/2010 11:04

They seem good stockpickers. I suppose the large discount reflects potential CGT liability on realised and unrealised gains.

[maxbubble] 22/11/2010 10:33

Barry....lol im usually in the red.

[underperformer] 22/11/2010 10:24

I think SVE is being highlighted on RRR and RGM threads, thats how I found out about it.

[25wbh] 22/11/2010 10:22

Morning Max, nice to be in a share that goes up,lol

[maxbubble] 22/11/2010 10:19

Morning Barry

[divinausa1] 22/11/2010 10:13

i put in on the ups thread about a month ago just drew attention to the fact trading well below NAV

Outsider has done a great job(but really the company should be doing it!)

as i said previous i have holdings in some of the companies but this is far less risky and you get the exposure across the board....

[25wbh] 22/11/2010 09:40

i only heard of it by chance from Maxbubble,nice one Max

[diggerking] 22/11/2010 09:28

How can we spread the word?

I'm sure this share is not on many radars.

[25wbh] 22/11/2010 09:24

Diggerking ,same with me, i sold 100k in rrr at 4p

[eacn] 22/11/2010 09:23

Outsider,

No you do have to account for the gains in calculating NAV. All I am saying is that the company doesn't pay corporation tax and CGT, just corporation tax.

The tax will only be payable following sales of stock - it isn't calculated on the basis of paper gains - but it is a liability that should always be accounted for when calculating the NAV.

From a shareholder perspective the tax situation is far from ideal: first the company pays corporation tax on gains, and then we pay CGT on gains in the SP, which should over the long term reflect gains in post tax NAV. Thus shareholders effectively get hit by double taxation.

I tried to persuade SVE to move the company off shore some years ago when the locked up gains were minimal and again in 2008 when the company effectively had no gains to speak of, but Bruce Rowan didn't like the idea. Had they done so, there would be virtually no corporation tax to pay, which would have added c. 30% to the value of the shares.

[diggerking] 22/11/2010 09:17

I have been absolutely gutted lately,having sold RGM and RRR far too early.
I bought in to SVE this morning and immediately got a warm glowing feeling.
So many of SVE's constituents are doing really well.
How do they select their investments?
A much better method than mine,that's for sure.

[outsider] 22/11/2010 09:12

I also like the change in investment policy here:


your Company will be looking
either to support existing investee companies or take positions in selected
later stage ventures where mineral resources have been confirmed and where
shorter term returns are expected.

[outsider] 22/11/2010 08:59

money in the bank as far as im concerned (unless we retrace of course!!) I think like last year we should get NAV published at AGM in Dec, so not long, but in the last report I'm sure I read they said they would announce if a significant increase - so I guess we could get announcement any day.

[25wbh] 22/11/2010 08:56

With only 37million shares in issue this will rocket if the herd catch on!!

[brando69] 22/11/2010 08:48

i think we're up about 25% NAV this morning, early doors, fwiw

[outsider] 22/11/2010 08:47

In that case I get 26.82p NAV before todays rises.

[outsider] 22/11/2010 08:41

But SVE was dirt cheap before the rises this morning, just have to be patient whilst the market catches up I guess

[eacn] 22/11/2010 08:41

SVE does not pay CGT, only corporation tax, since its business is trading in shares.