Nick, I must agree at this price SVE is a steal even more so with the very good chance that we are about to enter a bull market for gold. At the moment the fashion is for Oil & gas so even the very good news for AAU still leaves the share price going down. Unfortunatley, as far as I know, there are no significant oil shares in the SVE portfolio but there are a lot of very interesting miners so for any contrarian I say get in now. I'm a bit stuck as wife has threatened all sorts of sanctions if I go overdrawn again!
Yes, it's moving on tiny volume. If you take the 13+p NAV it's a great entry price.
But this does not tell the whole story, for we take a conservative view when valuing our portfolio: were we to have valued our investments at mid-price, the value would have been increased by £335,000; were we not to have applied a discount for size to the values of five companies where we hold 7% or more of the shares in issue, the value would have increased by a further £730,000. Therefore, on a strict mid-market basis, the value per share would have been 13.37p with a share price discount of 56%.
Hi Ultra, Tottaly agree with your view on broker forecasts...talk about eternal optimists!! I have enough invested in SVE at he moment but I am watching the situation closely, both with Nordic and with their other major investments. Nordic dropped again today so the targets are even further away.
Hi tallyfox. Always take broker forecasts with a very large pinch of salt. For example Davy have a 185p forecast for LOGP. Current sp? 20p.
I remember someone saying they halved a broker forecast and then halved it again to arrive at a current fair sp value!!
PS. Nordic is currently worth £2.9m to SVE. If you add in the 25m warrants (exercise price 1p) and give them a notional value of 6.25p each to SVE. That's a notional (notional because the warrants are not listed) extra £1.56m to SVE. That's £4.46m in total.
As I said DYOR but the figures still look compelling even after 15% rise back today. There have been a couple of bullish broker reports on Nordic both saying it could go to 20p plus. So even at half that, Starvest's stake would be £6m+......nearly 3 times the mak cap at present
Further to the Company's announcement of its net asset value as at 10 January 2014 and in fulfilment of the undertaking given to advise the market of significant changes, the Company is pleased to announce that at the close of business on 31 January 2014, the net asset value had increased by £500,000 since 10 January and by nearly £2m or 84% since 31 December 2013. A number of investments have contributed to this surge in value, but especially Nordic Energy plc in which the Company has a major stake; further details may be found at www.nordicenergyplc.com.
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