Starvest Share Discussion Threads

[divinausa1] 15/12/2010 07:53

off topic

anyone looking at under valued plays in terms of NAV



current NAV near on £7 current share price 70p!

[zedder] 14/12/2010 21:39

From this years annual report ready for the AGM:

SPECIAL BUSINESS
Ordinary resolution
6 That the Company be unconditionally and generally
authorised to make market purchases (as defined by
the Companies Act 2006 Section 701(1)) of Ordinary
shares of £0.01 each in its capital, provided that:
(a) the maximum number of shares that may be so
acquired is 5,850,000, being a number that
approximates to 15% of the issued ordinary share
capital of the Company at the date of the meeting;
(b) the minimum price that may be paid for the shares
is £0.01 per

From SVE website:
The Company has authority granted by Shareholders at the 2006 AGM and renewed at the 2007 AGM to buy back up to 5,600,000 of its own shares. The Company has made the following purchases:

16 January 2007 500,000 shares @ 17 pence
29 May 2007 250,000 shares @ 30 pence
13 June 2007 200,000 shares @ 30 pence
3 August 2007 150,000 shares @ 32 pence
9 August 2007 100,000 shares @ 32 pence
10 August 2007 100,000 shares @ 32 pence
13 August 2007 50,000 shares @ 32 pence
15 August 2007 75,000 shares @ 32 pence
16 August 2007 300,000 shares @ 32 pence
17 August 2007 325,000 shares @ 32 pence
22 November 2007 250,000 shares @ 29.1 pence
Total held in treasury 2,300,000 as at 31 December 2009

Personally I hope to see the buybacks re-commence soon, and wonder is that why they needed to get rid of all the debt in order to be able to justify them?

[zedder] 14/12/2010 21:30

If they fancy another 8m+ shares at that price maybe SVE could help them out!

[zedder] 14/12/2010 21:29

RNS Number : 9611X

Red Rock Resources plc

14 December 2010

RED ROCK RESOURCES PLC

Issue of Equity

Dated: 14 December 2010

Red Rock Resources plc ("Red Rock" or the "Company") announces that it has placed 2,666,667 new ordinary shares of 0.1 pence each ("Shares") in the Company to a single institutional investor at a price of 15.0 pence per Share (the "Placing"). The proceeds of the subscription are GBP400 000 before expenses, conditional on the Shares being admitted to trading on AIM.

Following the Placing, the Company's issued ordinary share capital will be 678,211,050 ordinary shares of 0.1p. Application has been made to the London Stock Exchange for the Shares, which rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. Dealings are expected to commence at 8.00 a.m. on 20 December 2010.


So someone was very keen to get into RRR, and that interest should put a solid floor of 15p under the share price.

[schweinswal] 14/12/2010 19:55

we will get a huge spike someday.... just wait.

[outsider] 14/12/2010 09:46

Kefi 6p bid up 50% on price in header making it another 1 million pound plus holding!!


Sorry for posting and getting excited.....at least I get the fun factor out of my holding.

[outsider] 14/12/2010 08:06

kefi 4p bid dec 7th, now 5.5p bid

[outsider] 14/12/2010 07:32

Maybe!!


Shame. Gold $1400 again & progress yesterday in the portfolio

[grogger2u] 14/12/2010 07:23

maybe they don't like paying the fee.

[outsider] 13/12/2010 23:57

Seems Starvest are doing their best to keep NAV a secret, no announcement via Investigate again, which I would think the majority of investors use for newsflow and research!

[mattboxy] 13/12/2010 23:22

Nice and solid so at 13p we are at 45% discount. hoppefully should see these move up to your 20-30% discount range over the next month.
Another great day for kefi showing at over 5p now and rrr 15.85p

Not sure if anyone said but any opinions here to REM shares sounds like early days but interesting??

[outsider] 13/12/2010 23:15

at 30% discount the share price should be 17p mid.

[outsider] 13/12/2010 23:14

"We believe that a number of our portfolio companies will
continue to prosper during the coming year so look forward to further net asset
value improvements in the months ahead. "




Sounds confident, and these guys don't ramp, usually conservative, and look what they said about Red Rock in 30 Sept report....how true that turned out to be.

[grogger2u] 13/12/2010 17:23

hopefully rrr

[brando69] 13/12/2010 16:50

hopefully in kefi

[maxbubble] 13/12/2010 14:38

Does anyone have an idea where the £114k has been invested?

[orvil] 13/12/2010 14:28

Monday 13 December 2010



Net asset value update - 10 December 2010

In preparation for the Company's Annual General Meeting to be held at 3.00 pm
today, as previously announced, the following is a brief update of the Company's
performance and portfolio value as at the close of business on 10 December 2010.

10 December 2010 30 September 2010 Change
%

Trading portfolio value �GBP9.10m �GBP4.57m 99%

Company asset value net of debt �GBP8.96m �GBP4.19m 113%

Net asset value - fully diluted per 24.01 pence 11.28 pence 113%
share

Share price - mid 13.00 pence 7.75 pence 68%

Share price discount to fully diluted 45.8% 31.3%
net asset value

Market capitalisation �GBP4.77m �GBP2.84m 68%



Inasmuch as PLUS Markets are now only displaying a mid price on their website
without bid and offer prices, the mid prices less 20% are used. All valuations
are based on the closing market bid prices or lower directors' valuation as
described in the 2010 annual report.

Other matters of note since 30 September 2010 are:

�� Investment sales during the period have realised �GBP586,690 and a gross
profit of �GBP416,690.

�� Taxation has been fully provided for on the realised profits.

�� �GBP114,640 has been invested to add to an existing holding.

�� The previous bank overdraft has been cleared, although the facility
remains in place.

Although values have fallen slightly since the announcement on 23 November, the
overall result for the period is excellent and demonstrates that our patience is
being rewarded. We believe that a number of our portfolio companies will
continue to prosper during the coming year so look forward to further net asset
value improvements in the months ahead.

Disclosures for Annual General Meeting 13 December 2010

In accordance with the Disclosure and Transparency Rules, the Company advises
that for the purpose of the Annual General Meeting today the Chairman, Ronald
Bruce Rowan, will hold discretionary proxies for each resolution in addition to
10,170,000 Ordinary shares in a personal capacity. Therefore, the Chairman's
total interest to be disclosed is as follows:

Resolution 1 10,217,500 27.83%

Resolution 2 10,277,500 27.99%

Resolution 3 10,277,500 27.99%

Resolution 4 10,237,500 27.88%

Resolution 5 10,237,500 27.88%

Resolution 6 10,275,500 27.98%

At the conclusion of the meeting, the Chairman's personal interest will revert
to 26.07%.



R Bruce Rowan

[outsider] 13/12/2010 08:51

Sheba upto 2.5p bid.

Red Rock upto 15.75p bid


Regency upto 6.75p bid


Kefi upto 4.85p bid


And I guess all won't be reflected in reported NAV today as it will be Friday's prices.

[outsider] 12/12/2010 23:56

All PLUS holdings have italic tickers Zedder

[zedder] 12/12/2010 11:46

Looking at the listed holdings, do we know the full details on the following:

Treslow Ltd
Woburn Energy (formally Black Rock Oil and Gas) 200,000?
Goliath Resources
Chalkwell Investments (formerly the Core Business) 4.2m?

[zedder] 12/12/2010 10:59

Outsider any chance of making the font colour red for those that are PLUS holdings?

[outsider] 12/12/2010 01:30

oh I think 40% too strong.

30% is standard....so share price should be 17.5p at 25p NAV



However I personally think 20% is more apt, hence my buying.....reasons:


1) Oracle moving to AIM....means that shareholding will be 20% better off.

2) Losses from the recent awful period for SVE, can be offset against tax.

3) We are on a recovery path now, although not certain most would agree the recovery has just started...They say mining stocks are cyclical.

4) In the money warrants, like Belmore's could add extra value, only found two lots of warrants we have so far, but I would think there are more.



So at 25p NAV I think fair price 20p ..... at 23p fair price 18.5p fair price.

[mattboxy] 11/12/2010 16:02

Outsider -thanks!
That would suggest a poosible share price of 13.8 - 15.6 @ 40% discount.
Here's hoping it's 26 or more!

[outsider] 11/12/2010 00:47

mattboxy, I would hope around 23-26p NAV

[zedder] 10/12/2010 14:28

And obviously as RGM hold nearly 30% of RRR, it won't hurt their price either!