Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Time to wake up SVE shareholders! RNS arrived today from GGP indicating that Newcrest want to buy the 5% that they have an option on (which expires in December 2022) a whole year ahead of time. GGP currently up 17% and rising. Net result of the Newcrest move is that, by the end of Feb 2022 we’ll have an official valuation of the true value of GGP. What’s that likely to do for the SVE share price? Have a guess. Personally I think it’s time for a top-up!
Soldtoosoon:
Agree things have been disappointing for some time. I see that the largest shareholder is listed as “The estate of Ronald Bruce Rowan (deceased)”. So your diagnosis that PIs are merely asleep may be overoptimistic.
The run up to the AGM in a couple of months might be the best time to kick some life into the bb?
Cheers
Have to say that I thought my last message would generate a bit of a discussion about how the company is managed, but it looks like Callum and Gemma aren’t the only ones here asleep at the wheel of their investment vehicle! The tumbleweed rolling past in the background is almost palpable. Anyway, I promise not to disturb everyone’s slumbers again until GGP shows some signs of stirring!
I think it’s reached the stage where SVE shareholders are entitled to ask exactly what we’re paying Callum Baxter and Gemma Cryan for, with shares or otherwise? With the exception of Cora Gold (and even Cora has fallen nearly 50% from its year high), every one of SVE’s investments (and that includes GGP) has fallen massively in value since the turn of the year. Basically these 2 are asleep at the wheel, but still getting paid for it. If, as some say, SVE is merely a discounted play on GGP, what don’t Callum and Gemma sell off the non-GGP investments, use the cash to buy extra GGP stock and divide up the GGP shares amongst existing SVE shareholders. I for one would be very happy to get 1.4 GGP shares for every SVE share I hold. Of course Callum and Gemma won’t bother to do this while they’re getting paid to do f*** all!
I doubt it. There was very little cash showing in the half year report and 2 directors were paid in shares.
Does anyone know if starvest contributed to the raise last week.?
There was certainly nothing by way of an rns
I don't see an alternative strategy. It's a discounted bet on GGP. Any significant sale should generate proceeds for a return to shareholders, I think it will be long wait though.
Well, it’s taken a while but I’m back above water on the top up mentioned above; just need a bit more of a rise to get my entire holding into the same place! A little disappointed that whilst my holding in GGP went up 35% in value last week, my holding in SVE only went up 15%. I originally bought into SVE to cover the possibility of a sneaky takeover offer by Newcrest. I still think that’s a genuine possibility, but it may be a way off yet. Interesting challenge for the BoD to move the share price closer to the NAV/share as this is no time to be selling any more of the GGP shares! Anyone have any thoughts on an alternative strategy to reduce the shortfall to the NAV?
Well, the SP wasn’t static today! At a SP of 16.5p the MC is now only £10m, despite the NAV being £16.5m. Maybe it’s a falling knife, but I just had to buy a few more today - 16.65p seemed desperately cheap for what’s on offer here, but DYOR just in case.
Have I missed something here? Share no longer appears to be actively traded / moved with a static SP for some time now even when GGP has moved around.