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Started: Zarro, 23 Jan 2024 07:39
Last post: Zarro, 10 Feb 2024 12:05
Mkx - GGP was be far the most significant holding in value terms. As far as I understood things we are likely to get a distribution of (most of?) their holding of Ariana shares at some point once the liquidation is completed. The remainder of the shareholdings they have/had will be sold but only realise a small sum which essentially covers the c£10k costs of the liquidation. Depending on the detail/prices realised, the liquidators may either also need a few pounds of a few Ariana share sales to cover their costs before we get the in specie distribution or there will be a v v small surplus from the realisation of all the other holdings which we would also get in cash - but if so, it will be pennies.
Got mine too - anyone know what's happening with the rest of their shares...there's a few interesting ones in their portfolio that I'd like to have added to mine. GGP can't be their most significant holding surely.
Mine, too.
Straight into the ISA, which was a welcome surprise.
GGP shares have now been posted in my Interactive Investor Account. Have not seen anything yet in my HL account - but no doubt will show up in the next couple of days.
Announcement on company website
Starvest, the specialist mining and resources investment company, is pleased to provide an update on the Distribution in Specie of its Greatland Gold plc (“Greatland“) shares.
Following Shareholder meetings in November and December 2023, the Company entered into a Members’ Voluntary Liquidation on 20 December 2023 and Michael Solomons and Andrew Pear of Moorfields Advisory were appointed as Liquidators of the Company.
Part of the liquidation of assets involves the Distribution in Specie of the Company’s Greatland shares to Shareholders.
Notices is hereby given that the allocation date of the Distribution is set for 19 January 2024. The final ratio has been calculated at 1.32973066 Greatland shares for every one share of the Company. This is against the previously advised approx. ratio of 1.33 Greatland shares for every one share of the Company in the Notice to Shareholders on 27 October 2023.
It does not appear to mention any other shares e.g. Ariana.
Started: VanVan, 21 Nov 2023 14:14
Last post: zedder, 20 Dec 2023 15:20
So it's been approved today, so let's see how quickly we get the GGP and AAU shares, and as Zarro said, maybe a bit of cash as well.
I first invested in SVE on 5th October 2017 . My best ever trade (I'm sad enough to run a spreadsheet) was a 10k share buy at 1.99p on 20th November 2018, sold at 22.05p on 21st September 2020 for a 1004.4% gain.
Overall SVE has been good to me to the tune of £140k.
GGP (where I first bought on 8th February 2017) led me to SVE. and GGP has been extremely good to me as well, and hopefully will still be in the future.
And apologies again. The second meeting is 20th December. Liquidators costs are only £10k (+ rechargeable expenses and any unforeseen items) which feels quite low and suggests to me that: (a) there might be a couple of quid left to distribute as well (b) more importantly, that it is not expected to take long before the in specie share distribution off GGP and Ariana shares.
Apologies for earlier misinformation. Upon checking I see the 2nd general meeting (to vote on resolutions to liquidate the company) is not until 11 December. (the 28th November is when shares are de-listed.)
Thanks Zarro
Out of interest Ariana have a presentation on 30th Nov.
From their RNS
Attendance at Mines and Money London @ Resourcing Tomorrow
Corporate Presentation
Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold mining interests in Europe, is pleased to announce that it will be attending the Mines and Money London Conference @ Resourcing Tomorrow, which takes place on 28 - 30 November 2023.
The Company will be available to meet existing and prospective stakeholders and all other interested parties on Thursday, 30 November in the Angel Suite Conference Room at the Hilton London Angel Islington Hotel, 53 Upper St, London, N1 0UY. The hotel is adjacent to the Business Design Centre where the conference is taking place.
The Managing Director, Dr. Kerim Sener, will provide a corporate presentation at 1:30 pm on Thursday, 30 November at the same location. The presentation will be made available on the Company's website shortly after the event.
To attend the corporate presentation or to enquire about meeting the Company on the day, please contact: arianaresources@yellowjerseypr.com.
VanVan - timelines not explicitly stated as far as I can see but they do say promptly after the appointment of the liquidator - the vote for which is on 28th I think. However, my general understanding (from other similar events) is that when the shares are de-listed they will disappear from your brokerage account (and you will feel poorer as a result). At some point the GGP and AAU shares will be credited to your account (and you will feel a lot better). My hope is by year end or end of January at latest (assuming that the liquidator has had time to prep the dissolution of a non-complex company and, in particular, is confident that the costs of doing so can be covered by the sale of all the other small shareholdings).
Last post: nextdeal, 28 Nov 2023 16:05
So farewell SVE.
Made a few bob and looking forward to making more with GGP.
Nd
Started: Teotihuacan, 21 Nov 2023 12:53
Last post: nextdeal, 21 Nov 2023 13:38
Onwards to oblivion (or GGP).
Nd
Resolution duly passed, RNS @ 12.39.
1st vote today at 12.00
Last post: ZENSTEV, 10 Nov 2023 13:55
9.555 to buy now,very tempted,seems a good way to accumulate some more GGP.
Current spread 8.24 - 9.8
Nd
Started: HaverionKing, 10 Nov 2023 11:13
Last post: nextdeal, 10 Nov 2023 12:04
As we were, completely reliant on GGP.
Nd
Hi - if the liquidation and capital distribution does not get approved - what would then be the outcome of this for a shareholder
Started: Yorkie52, 27 Oct 2023 08:26
Last post: nextdeal, 9 Nov 2023 16:33
I hope we have all voted in favour of the liquidation.
I just have via HL.
Nd
In the long run the rational thing is you’ll end up with more GGP shares than you had before. I’m into my seventh year of being invested in GGP and i’m very confident with my investment there.
Good luck.
Agreed Mark. Yesterday I sold all my GGP at about 8.5p and re-invested all of it in additional SVE shares at about 8.75p Once they convert I will be just about back to break even on GGP - assuming GGP price does not collapse from here. I'd better get on to II myself!
Hi Zarro, I think the spread is as has been for a long time just down to a lack of liquidity. Anyway just submitted my vote in favour via ii. I do agree with you both though,even with the spread and the recent rise of both SVE and GGP the maths still looks makes SVE look a good buy.
ATB
Arbitrage appears to be worth about 30% over a month. Surprised the spread has remained that wide....so maybe the de-listing is not as nailed on as it appears to be or the GGP price today is considered more than 30% too high - But what do I know? These are crazy times. Anyhow, I couldn't resist.....
Started: JohnBull65, 7 Nov 2023 10:36
Last post: markjphennesseyg, 7 Nov 2023 19:08
Hi Dan, Sorry I didn’t explain myself very well.
I think the market size for SVE is only 15,000
I think it is 10 times that for GGP
There’s only 58 million shares in issue.
If GGP shareholders suddenly started en masse selling GGP and started buying Starvest I think the Starvest price would rapidly rise to a level whereby it would far exceed the potential benefit.
For example if someone had 4million GGP shares you could probably get a quote to sell that amount. So say they sold them and tried to use the proceeds of that sale to buy SVE I doubt they would be able to get a quote for that amount. They may be able to buy them piecemeal in 100,00 or 200,000 chunks but each time they did so the ask price would probably rise.
To put it in perspective if you managed to get your hands on 3 million SVE shares you would own just over 5% of Starvest.
The idea is good in principle but only for relatively small amounts.
ATB
Halifax share dealing wont let you trade in SVE shares,and some others inc MAFL. If GGP get to10p i will be a seller,under8p a buyer. bol DL
I calculate NAV at closer to 16p so 60% upside imho…
Hi Dan, the problem is the liquidity of SVE. I don’t think it would take much to move the Starvest price upwards to a point where it might defeat the object.
What your saying makes sense for tens of thousands of shares but maybe not for millions.
ATB
Yes apologies - i misread.
Surely if you are a GGP holder, the trade is to sell existing GGP stock and buy SVE. Essentially doubling GGP holding for no cost.
Started: JohnBull65, 1 Nov 2023 14:09
Last post: Dan_The_Man, 6 Nov 2023 13:51
Why could you not sell your GGP?
You can trade SVE shares with Interactive Investor,they offer a pretty good service,I am with Halifax,and i wanted to sell my GGP shares and put the money into SVE and found i couldnt. having said that, i have been selling off my GGP on the rising market, DL
Hi II still do. :)
Ii do . Remember though to only do it in a trading account as delisted companies cause all sorts of issues in an ISA or SIPP
HL did this morning.
Started: JohnBull65, 1 Nov 2023 14:58
Last post: JohnBull65, 1 Nov 2023 14:58
Hi - thanks for your messages - hopefully up and running shortly…
Philip j Milton spent about 30k to increase
A bit of confidence at least
Wonder if there is anything happening here or we're just paying the people to log on and check emails. Seems like the investments in place are now reliant on other movement therefore no cashflow is needed right now.
Large trades shown on Yahoo Finance, but none here.
Why would that be?
Nd
I know that SVE had a sizeable holding at one point...this still a thing?
Started: markjphennesseyg, 24 Aug 2022 19:43
Last post: darientaylor, 25 Aug 2022 13:30
given that 90% of SVE portfolio of losers is GGP, what is the point of SVE..... none other than provide a pension for some old duffers who have lost complete touch with what is going on... pointless company
Wonder if Starvest are participating in the GGP placing.
Started: markjphennesseyg, 18 May 2022 16:22
Last post: spudimminent, 22 Jul 2022 16:04
I hope he is up to something. We pay him enough.
Could anyone explain how ggp can go up 25% in a week but this stubbornly stays the same?!
I believe that there is a 1.6 gearing here.
That is to say starvest should be about 19p
For the record I firmly believe that the offer for 5% is well under value and Newcrest are/were responsible for the massive short selling. They will most certainly go all in and own 100% of haveiron some time soon.
Intriguing!
What you up to Callum? Lol
The Board is currently considering opportunities more likely to better align the Company's stock price with what it regards as the intrinsic value of the Company's portfolio.
Started: JiffyBag, 20 Apr 2022 02:44
Last post: JiffyBag, 24 Apr 2022 00:06
Thanks nextdeal,
I've found an earler RNS now , 05th May 2020
'Starvest currently holds 82,000,000 shares in Greatland Gold plc representing 2.2% of the company.'
Check the RNS of November 2017 for an indication.
Nd.
Is it circa 80 Million?
Thanks
Last post: Sherifff3, 13 Jan 2022 08:21
That woke you up eh?
Last post: spudimminent, 6 Jan 2022 11:23
Would be nice to be in the know here! Where would Callum invest our money??
Artemis perhaps before they hit paydirt, join Metal Tiger in investin in Sandfire?
Or some other we have previously never heard about
I read in the Financials they will distribute 50% to shareholders and invest the remaining of any income. So some dividend and potential growth. the worry is the share price lags behind their paper market cap. Would expect they would hold onto the GGP shares unless purchased outright its a long hold.
Sheriff. You need to keep in mind this is Callums' baby!
He is not very forthcoming with information - except at result time - but I would like to here what he has in mind for the windfalls coming our way for the 5%.
Technically they - Starvest - don't need to do anything as the share price will take care of itself but it would give excuse to issue a RNS at the very least. Does anyone remember what price prim sold at?
Would seem a reasonable decision with hindsight!?
21% spread really stops you selling!
Could Newcrest buy Starvest and save a little as they own 2% of GGP? or not worth the trouble?
Started: 4theLongterm, 17 Jun 2021 13:59
Last post: Soldtoosoon, 21 Dec 2021 12:14
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.
Started: Scoutt, 7 Oct 2021 22:30
Last post: Scoutt, 7 Oct 2021 22:30
Seems like an age with tha Chinese torture of drip drip drip of Ggp, those who are not risk averse see an almost dead cert but have to wait for the safety brigade to get on board, let’s hope the herd push this to silly territory, would not be the first time, anyway PDF’s out Tuesday and we will know more, maybe Ggp will get an unexpected bonus when Newcrest get their final 5%, who knows how much that will be, minimum £50M could be as much as £100M either way there so much more from Ggp. Alm
Started: zedder, 1 Oct 2021 00:06
Last post: markjphennesseyg, 7 Oct 2021 17:43
Yep, I picked up a small amount more today, couldn’t resist.
Personally I think they may crystallise some profits soon, which may bring the SP nearer the NAV, but am obviously only guessing.
Good luck and let’s see what the next week brings.
Just occasionally the price lags ggp and one can grab a bargain!
Pity the spread is so big- on the face of it a penny a share- but I have topped up at 16.7 and am happy to accumulate some more beeautis. Also happy in the knowledge that I am contributing to Callum’s pension pot. I would be interested in any thoughts amongst contributors about long term plans for this vehicle. The surest way to realise true NAV would be to sell up but will that be on Newcrest taking the 5% they have an option on or are we going full on and let Callum pay his mortgage regularly?
Mike
RNS out, I was spot on this time.
My guesstimate for NAV/share from my spreadsheet is 24.4p/share.
GGP constitutes 22.6p of this and AAU (post dividend) 1.0p
Started: Scoutt, 22 Apr 2021 18:44
Last post: Scoutt, 22 Apr 2021 18:44
Bigger discount compared with Ggp price, think we should be @ 21.5 and that’s with the usual 50% discount. May top up again but would be breaking my 5% limit. Think when this moves it’s going to be 10% plus anything extra that Ggp put on. You would think that rational markets would auto correct but not so here, been here since 3.5p and top sliced here and there retooling at unreasonable discounts to Ggp, apart from the liquidity issue it’s money for nothing, can’t complain.
Started: Zelos, 15 Apr 2021 11:27
Last post: Zelos, 15 Apr 2021 11:27
Well both my buys today, actually as buys.
We are greatly behind here, hopefully the maths will work out soon. GGP's free float has been massive reduced lately, should make it, and us here more volatile.
Greatland Gold Fields £5+
Started: 4theLongterm, 13 Apr 2021 18:12
Last post: 4theLongterm, 13 Apr 2021 18:12
Expecting to break the 20p mid price tomorrow on Starvest given the strong finish by GGP today.