Starvest Share Discussion Threads

[srpactive] 20/4/2020 09:30

Good morning all

I have held ggp since the 1p plus region, I have now decided
to buy here, seems quite interesting.

active

[telbap] 19/4/2020 22:49

Plus why NCM have drawn 600m on their loan facility.

[telbap] 19/4/2020 22:48

@QS99....Zedder is right, no way they will sell, CB knows they are sitting on a nice little earner. 9 day's to go and we will know what they are peppering the "sterilisation" area with more holes.

[zedder] 19/4/2020 17:46

I emailed Callum Baxter previously about top-slicing the GGP holding. His reply gave the impression they had no intention of doing that when in their view (remembering he is CEO/Chairman of SVE and Chief Technical Director of GGP) there is a lot more value to come from GGP yet!

[qs99] 19/4/2020 10:51

probs right telbap, 20% discount is probably about right IMO....but if they take some off the table from GGP that may help narrow discount as cash?

[telbap] 19/4/2020 10:00

Zedder, I would say we will run 20%+ behind the NAV, all the Holding's here are volatile, one RNS away from doubling or reducing 90%.......GGP will be moving onwards next week so I can see 8/8.5 here.

[telbap] 17/4/2020 14:27

This will pop soon, maybe Monday?

[zedder] 17/4/2020 13:15

The current value of the top 4 holdings is as follows:

85m GGP @6.2p = £5.27m (this alone worth 9.2p/share)
17.5m AAU @3.2p = £560k
21.87m ORCP @ 0.55p = £120k
1.23m CORA @5.0p = £61k

Mkt Cap at 7p mid currently £4.0m
NAV = £6.1m or 10.6p/share

[qs99] 17/4/2020 12:58

So per the above, GGP is above 6.1p and SVE share price is at 30% discount to NAV at 6.1p at the moment with 7p on the offer? DYOR

Glad I topped up this morning....

[zedder] 17/4/2020 12:01

To fully understand the value of SVE, you need to understand the potential value of the 85m shares they hold in GGP. This is definitely worth a read:

[zedder] 17/4/2020 10:03

Then again, maybe Newcrest have decided to make a take out bid before those next results? We can but hope, but it is certainly the sort of end game that is looking more and more likely.

[zedder] 17/4/2020 10:00

Most people aren't expecting any GGP news until the end of April to coincide with the latest Newcrest quarterly update which should include more (bumper?) drill results from Havieron.

The fact that Newcrest still have 8 drills running 24/7 would certainly suggest they are fully committed to Havieron and proving up the resource GGP have there.

With GGP at 6.1p, SVE NAV is 10.4p/share.

[qs99] 17/4/2020 09:54

GGP rising again....10p GGP value would ensure a big old rocket under these shares and is becoming more believable IMO....Friday moves on GGP with POG down, suggests IMO that maybe news/update next week? DYOR

[come on] 17/4/2020 08:09

Well ggp rising so all good so far

[rose_by_another_name] 16/4/2020 08:12

An excellent way to incentivise directors,
but it does lead to dilution. Presumably,
the shares will go on the market if the
directors need the income, not having
been paid fees.

[zedder] 15/4/2020 17:28

Because the Directors took shares in lieu of fees for the last year (Qs 2, 3 and 4 of last year plus Q1 of this year). They took them at a strike price of 4.25p when it would not have been unreasonable for it to have been at say 3p if you look at the share price average over that period.

[rose_by_another_name] 15/4/2020 10:57

~2% dilution coming.

[zedder] 14/4/2020 10:12

The current value of the top 4 holdings is as follows:

85m GGP @5.7p = £4.85m
17.5m AAU @3.3p = £577k
21.87m ORCP @ 0.6p = £131k
1.23m CORA @5.0p = £61k

Mkt Cap at 6.25p mid currently £3.5m
NAV = £5.7m or 10.1p/share

[yorkie52] 07/4/2020 14:34

Correction
Nav 5.2m
Market cap 3.3m
Wrong way round!
And more to come with gold going strong.

[zedder] 07/4/2020 13:53

The current value of the top 4 holdings is as follows:

85m GGP @5.15p = £4.377m
17.5m AAU @3.00p = £525k
21.87m ORCP @ 0.7p = £153k
1.23m CORA @4.3p = £53k

Mkt Cap currently £3.3m
NAV at 6p mid = £5.2m or 9.3p/share

So discount to NAV has closed today, but still plenty of value here.

Edit: Good point (see below or above on a phone!), Corrected.

[teacup] 07/4/2020 12:01

A long term GGP holder here. I have been looking at SVE for a while now as a cheap way into GGP when it spikes upwards. SVE seems to lag behind by a few hours and also seems quite undervalued i relation to the GGP stock they hold never mind any other investments.

[minfeus] 07/4/2020 11:44

Zed, thanks for bringing this to my attention some weeks back as a play on GGP, where I also hold a small amount.
The NAV figures in this thread are somewhat outdated but further research does point to it being rather undervalued.
I also hols ORCP which could do well.
cheers again

[zedder] 07/4/2020 10:57

When you hold 1.5m shares (1.3m in my ISA and 200k in my wifes) at an average of 3.8p, the profit starts to get quite heady on days like today!

[zedder] 06/4/2020 12:33

Good to see the Directors taking shares in lieu of fees for the last year. Also good to see that it was based on 4.25p; The yearly average was probably well below that.