Starvest Share Discussion Threads

[zedder] 19/1/2019 09:48

Jerseymike,
Agree with Mkt Cap as you state with SVE at 3.5p.

GGP closed at 2.39p to sell on Friday. 85m worth £2.03m.

Looking at the more valuable other shares SVE hold:

AAU closed at 1.7p to sell. Holding is approx 12m (12.956m minus modest sale). So that holding worth approx £204k.

ALBA holding worth approx £74k (30m minus modest sale).
ORCP holding worth approx £110k (21.867m).

I estimate cash to be £120k.

For every 100k of SVE shares you buy, you get a value of £3780 in just GGP shares. That rises to £4770 if you add in the more valuable bits above, and to £4975 if you include everything. So discount to NAV of 30%.

[jerseymike] 19/1/2019 02:01

Z - are my calculations correct?SVE at 3.5p gives market cap of £1.9m85m GGP at 2.4p is £2mStill below value of GGP alone. Looks like plenty of bonus still at this level.

[zedder] 18/1/2019 17:10

300k delayed buy at 3.5p explains the rise.

[zedder] 18/1/2019 10:43

By the way, the GGP holding went through £2m at 2.36p. SVE Mkt Cap at 3p is £1.62m.

[zedder] 18/1/2019 10:35

Finally someone else having a nibble (100k). Great to see the sell at 2.6p as well as that suggests those that wanted out may now have cleared.

GGP at 2.38p gives a NAV of approx 4.9p.

[zedder] 17/1/2019 15:39

The 117k share buy was me into my wife's ISA. I hold 1.6m (just below 3%) and she now holds 250k.

NAV with GGP at 2.28p is approx 4.7p. The 85m GGP shares are worth £1.938m.

Even at 2.9p the Mkt Cap of SVE is only £1.565m.

[jerseymike] 11/1/2019 11:02

I agree. The discount to NAV seems too high and the prospects for GGP look promising.

[zedder] 11/1/2019 10:20

Last night convinced me yet again how cheap these are. Sold some gold ETFs in my wife's ISA and just bought 133k of these.

NAV is approx 4.4p with GGP at 2.1p Bid.

[zedder] 10/1/2019 17:48

So it appears Primorus Investment Trust have been adding GGP shares to their portfolio:

hxxp://irservices.netbuilder.com/ir/primorous/newsArticle.php?ST=PRIM&id=2672169

If you look at their board:

hxxps://www.primorusinvestments.com/about/the-board/

there appears to be an element of Aussie background there. They obviously have some faith in what projects GGP currently have on the go.

[zedder] 09/1/2019 11:08

An absolute bargain! GGP was 1.75p at the date of the NAV update. At 1.87p at present, the NAV now 4.1p.

[wyken] 09/1/2019 09:01

Well done zedder
What a bargain!
Near half price share

[zedder] 09/1/2019 07:23

I was slightly pessimistic then. 3.93p at 31st December.

[zedder] 31/12/2018 09:43

Assuming there is no major change in the GGP share price before the close at lunchtime, I reckon the NAV to 31st December will be roughly 3.75p.

[russman] 29/12/2018 05:50

The overheads are too high as a % of mcap.
Do I take it that unquoted circa 116k is Kuwait Energy valuation.

[zedder] 20/12/2018 18:42

If only I had some spare cash! Bargain price at the moment.

[zedder] 04/12/2018 07:18

Some more great drill results from GGP today. You can effectively buy GGP cheaper by buying via SVE.

[zedder] 30/11/2018 19:12

I don't think they will need £250k for the year as some of the Directors are accepting shares in lieu of cash, see:



The current cash was generated when they sold 50m GGP shares into the market (generating approx £340k) and then executed 50m GGP warrants at 0.2p, ie they replaced them for only £100k, see:



With GGP now at 1.72p to sell, and there having been lots of volume over the last couple of weeks, they could easily top-slice on that holding to raise cash. The 85m share GGP holding is worth £1.462m yet the market cap is only £1.35m.

[bean02] 29/11/2018 23:04

Aren't they very tight on cash? 153k sep 18 and burning 250k pa

[zedder] 29/11/2018 15:32

Followed by 60k at 2.65p. Now holding 1.6m or 2.96%.

My average for those is 2.897p.

[zedder] 29/11/2018 15:19

Sold my last 250k GGP, so just had another 100k at 2.6p.

[zedder] 29/11/2018 13:37

Another 40k at 2.5p thanks probably to whoever sold some yesterday. Now have 1.44m.

With GGP at 1.72p, NAV is approx 3.75p.

[zedder] 23/11/2018 09:02

Sold another 250k GGP at 1.84p. 3 x 50k here at 2.5, 2.64 and 2.7p.

[zedder] 22/11/2018 20:41

GGP holding now worth £1.479m alone (at 1.74p). Current Mkt Cap is only £1.27m. NAV of the portfolio is approx 3.8p!

[zedder] 22/11/2018 14:30

Finally somebody else having a nibble at this bargain price. GGP showing some more strength today.

[zedder] 21/11/2018 09:34

In fact did get both 50k chunks before the rise. That was obviously what caused it.