REG - Starvest PLC - Net asset value update at 31 March 2017 <Origin Href="QuoteRef">SVE.L</Origin>

StarvestAnnouncement

05/04/2017 11:01

RNS Number : 6666B
Starvest PLC
05 April 2017
5 April 2017
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 31 March 2017
In accordance with the Company's normal policy, it announces the net asset value as at the close of business on 31 March 2017 as follows:

31 March 2017
30 September 2016
31 March 2016
Trading portfolio value
1.29m
1.37m
1.04m
Company net asset value 
1.24m
1.27m
1.07m
Net asset value per share 
2.84 pence
3.21 pence
2.83 pence
Share price - mid
2.25 pence
2.25 pence
1.25 pence
Share price discount to net asset value 
21%
30%
56%
Market capitalisation
0.98m
0.89m
0.47m
All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2016 annual report. The discounts applied to bid prices at 31 March 2017 totalled 125,893.
Compared Q4 2016 our portfolio value remained relatively constant as at 31 March 2017. Rebalancing of global supply and demand for basic materials (gold, copper, iron ore, crude oil, etc) continued in early 2017 which bodes well for commodity prices throughout the remainder of the year. Overall, market sentiment for the sector (mining) remains upbeat and this should have a positive impact on share prices in the near term. Our share price performed well during Q1 2017 but disappointingly declined in recent days. Share price valuations in the sector remain attractive and we are actively reviewing opportunities. We aim to add to our portfolio in the weeks ahead.
We encourage investors to view our new RNS feed on the Starvest web site www.starvest.co.uk/announcements/
Callum N Baxter
Chairman & Chief Executive
5 April 2017
Enquiries to: 
Callum Baxter, Chairman cbaxter@starvest.co.uk or John Watkins, Finance Director 07768 512 404; jwatkins@starvest.co.uk
Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP - 020 7383 5100.
Nick Emerson or Andy Thacker - SI Capital Limited - 01483 413500
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