4 Jan 2022 14:20
04 January 2022
Starvest Plc ("Starvest" or the "Company")
Net Asset Value at 31 December 2021
Starvest Plc (LON:SVE), the London Stock Exchange AIM-listed specialist mining and resources investment company, announces a Net Asset Value ("NAV") update as at 31 December 2021.
Callum Baxter, Chairman and CEO, commented: "Over the 12 months to 31 December 2021 we experienced declines in the Company's net asset value and our portfolio value of greater than 50% due to the impact of lower gold prices on the broad metals and mining sector and, in particular, our holdings in Greatland Gold and Ariana Resources. Over the two years from 31 Dec 2019 we have increased the Company's net asset value from £2.4m to £13.9m and reduced the discount to net asset value from 52% to 35%. Despite the anticipated increase in global interest rates to stem inflationary pressures, we believe that expansionary monetary policies, global uncertainty and continued fiscal stimulus support a favourable outlook for gold and precious metals in the longer term.
The NAV as at 31 December 2021 and certain prior periods were as follows:
31 Dec 2021 | 30 Sept 2021 | 31 Dec 2020 | |
Trading Portfolio Value | £13.7m | £14.0m | £31.2m |
Company NAV | £13.9m | £14.1m | £31.4m |
NAV per Share | 24.0 pence | 24.4pence | 54.5 pence |
Share price - mid | 15.5 pence | 16.0 pence | 31.0 pence |
Share price discount to net asset value | 35% | 34% | 43% |
Market capitalisation | £9.0m
| £9.3m
| £17.9m
|
Portfolio holdings are valued using their closing market prices as of the date shown.
Starvest is a specialist mining and resource investment company and has the industry knowledge and market exposure to select compelling opportunities early in the investment cycle.
Investors are encouraged to view our RNS feed on the Starvest web site www.starvest.co.uk/announcements
Investors are also encouraged to follow and review the RNS and other news flows issued or otherwise disseminated by Greatland Gold plc, an investee company which constitutes a large portion of Starvest's trading portfolio value and whose share price can influence that of Starvest. www.greatlandgold.com/media/investor-news/
Callum N Baxter
Chairman & Chief Executive
04 January 2022
Enquiries to:
Starvest PLC
Callum Baxter or Gemma Cryan 02077 696 876 info@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Broker)
Nick Emerson or Alan Gunn 01483 413 500