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For some reason, I can't seem to add charts. (Does anyone know how to fix this?) But there are links here to the various charts.

 

http://www.starvest.co.uk/

http://bigcharts.marketwatch.com/quickchar...k%3Asve&x=0&y=0

http://bigcharts.marketwatch.com/quickchar...=1&symb=uk:sve/

http://www.advfn.com/cmn/fbb/thread.php3?id=6996761

 

A little more 'alternative' than other funds and trusts, with a juicy discount to NAV, in a sector that many of us on this board want exposure to, this seems a good trust for 'the beginner'.

 

I bought 10k at 26p on Friday. I'm already down due to rip-off AIM spreads, but I think it's a good buy-and-hold. I do have some concern that now, being May, wasn't the best time to buy. But that was outweighed by the fact that the discount to NAV won't be there forever.

 

Here's the blurb:

 

Since January 2002, the business of Starvest has been to invest in small company new issues and to trade in pre-IPO stocks. The business is managed by Bruce Rowan, Chairman and CEO.

 

Starvest generally commits between £100,000 - £150,000 to well researched investment opportunities. Whilst the Company has no exclusive commitment to the natural resource sector, the directors see this as having considerable growth potential for the foreseeable future. Investments are made immediately pre IPO, at IPO and in the after market.

 

The Starvest portfolio as at 13 March 2006 contains twenty-four holdings in the following companies, all but one of which are quoted on AIM or Ofex:

 

CURRENT PORTFOLIO

 

Addworth plc - Active capital investment company www.addworth.co.uk

African Platinum plc - Platinum group metals in Southern Africa www.afplats.com

Agricola Resources plc - Platinum and uranium exploration www.agricolaresources.com

Belmore Resources (Holdings) plc - Zinc exploration in Ireland www.belmoreresources.com

Beowulf Mining plc - Gold, copper and titanium exploration in Sweden www.beowulfmining.com

Black Rock Oil & Gas plc - Oil and gas exploration in Colombia, Southern England, Ireland and California www.blackrockoil.com

Brazilian Diamonds Limited - Diamond exploration in Brazil www.braziliandiamonds.com

Carpathian Resources Limited - Oil and gas in the Czech and Slovak Republics

Concorde Oil & Gas plc - Operational oil and gas projects in the Russian Federation

The Core Business plc - Personal care and beauty products

Franchise Investment Strategies plc - Franchise consultancy and investment www.fisplc.com

Franconia Minerals Corporation - North American minerals www.franconiaminerals.com

Fundy Minerals Limited - Gold and base metal exploration in

Canada and West Africa www.fundyminerals.com

Gippsland Limited - Tantalum exploration in Egypt www.gippslandltd.com.au

Greatland Gold plc - Gold exploration in Western Australia and Tasmania

Hidefield Gold plc - Gold exploration in North and South America www.hidefield.co.uk

India Star Energy plc - Oil and gas Investments

Matisse Holdings plc - Cash shell

Myhome International plc - Domestic cleaning services www.myhomeplc.com

Red Rock Resources plc - Iron ore and manganese exploration in Australia; uranium exploration in Malawi www.rrrplc.com - Regency Mines plc Copper and nickel exploration in Australia www.regency-mines.com

Sheba Exploration (UK) plc - Gold exploration in Ethiopia www.shebagold.com

St Helen's Capital plc - Corporate finance advisor www.sthelenscapital.com

Sunrise Diamonds plc - Diamond exploration in Finland www.sunrisediamonds.com

 

++++++++++++++++

http://www.starvest.co.uk/

http://www.advfn.com/cmn/fbb/thread.php3?id=6996761

http://bigcharts.marketwatch.com/quickchar...k%3Asve&x=0&y=0

http://bigcharts.marketwatch.com/quickchar...=1&symb=uk:sve/

 

++++++++++++++++++

 

Your thoughts?

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Looks good to me although the company accounts are a little obscure. This may account to some of the discount to NAV but it still 'seems' large.

 

Ronald Bruce Rowan is a major holder too which is encouraging.

 

Tempted though I will put in a order at 24p and see if it gets filled.

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I've got this on my watch list and I think DrBubb mentioned it a while back on another thread. It could be a good opportunity, but like others on here I hate those AIM spreads.

 

One thing though, Starvest states it "has no exclusive commitment to the natural resource sector, the directors see this as having considerable growth potential for the foreseeable future. Investments are made immediately pre IPO, at IPO and in the after market." Yet from the list it provides of the holdings, most are in the natural resource sector. However, the fact that Starvest is not totally committed to this sector means that the makeup of its holdings could change over time depending on market conditions and, I would assume, how well the natural resources sector is doing. If you buy it, make sure you keep an eye on what it is holding, as in time it may be made up of companies/sectors that you would rather not be invested in.

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" bought 10k at 26p on Friday. I'm already down due to rip-off AIM spreads, but I think it's a good buy-and-hold"

 

THAT is a big problem with buying on AIM, you get ripped off with the Bid/Offer spreads.

Buying and selling can cost you 10% or more, if you are buying stocks priced at around 20p.

 

This is one reason that i greatly prefer Canada.

 

I know Bruce Rowan, and regard him as a savy investor, who is especially good at "buying cheap."

He tends to take a shotgun approach, buying everything he can get at cheap enough prices. He does make an assessment of the people he is investing in, but worries less about their actual projects. In a market like this, where "everything" goes up, his style of investing goes well. But in a correction, some of the shares in his portfolio will really GET CRUSHED. So NAV may fall quickly, and the discount may stay big.

 

Neverthless, he is doing some things that should help the performance of Starvest:

 

+ He is selling down some of the bigger positions,

+ He is getting shareholder permission to buyback stock, and that should help to narrow the discount

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The price moved down a 1p last week and is now moving like a slug back towards 26p, currently 25.5p. However, some of its shares are soaring. Sunrise diamonds up 28% and another 31% today.

 

The discount to NAV is now 55%.

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"I can't seem to add charts"

 

You can, but this bb software doesnt make it easy. You have to:

 

1/

Save the BIT file to your computer

2/

Transform it into a GIF or JPG fie

3/

Go to an image saving site like: http://www.FreeImageHosting.net

4/

Upload your image to that site, and click

5/

Cut & paste the GIF or JPG file back here

 

Believe it or not, I go thru this laborious process with every chart I save here

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THANKS, DR B. Bit of a job!

 

I wonder if there's a way one can change the settings of the board so that we can just add an attachment?

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I'm afraid this has taken rather a hit today - down almost a sixth at one stage - even though the shares in the trust haven't been hit anything like as hard. Guess you just hold on and take the long view.

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" In a market like this, where "everything" goes up, his style of investing goes well. But in a correction, some of the shares in his portfolio will really GET CRUSHED. So NAV may fall quickly, and the discount may stay big.

 

Well, you called that right, Dr B. It's down about 30% over the past few weeks.

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I think they will take various actions, like:

 

+ Buybacks,

+ Selling illiquid shares to reduce concentration

 

Which will help the share price over time

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nav 33p, shareprice 17p.... too cheap:

 

Net asset value update

 

RNS Number:0559H

Starvest PLC

01 August 2006

 

 

 

RNS Announcement: Tuesday 1 August 2006

 

 

Net asset value update at 31 July 2006

 

The Directors are pleased to report the net asset value of the Company's

portfolio at 31 July 2006. Based on mid-market closing prices, the position

was:

 

* Company net asset value pre tax: #13.4m

* Net asset value per share pre tax: 32.76 per share, fully diluted

* Share price: 17.25 pence

* Share price discount to NAV: 47%

* NAV increase since 31 July 2005: #6.9m or 106%

 

 

In common with the small-cap natural resources market in which Starvest is

largely invested, the portfolio value has declined during the past three months

from #17.7m at 28 April 2006. However, the Board remains content with the

investments made and confident of a recovery as these companies execute their

exploration plans.

 

Since the Chairman's May 2006 update was issued, Starvest has completed its

investment in Greatland Gold plc which was admitted to AIM on 3 July, increased

its investment in Addworth plc and committed to support KEFFI Minerals plc which

expects to be admitted to AIM by the end of 2006.

 

Change of accounting reference date

 

As announced on 14 July 2006, the Board has decided to change the accounting

reference date from 31 July to 30 September for the coming year end and

following years.

 

The immediate purpose is to facilitate the presentation of a clean balance sheet

at the next accounting year end and so more easily attain a position in which

either the Company can pay a maiden dividend or engage in a programme of share

buy-backs for which the Members' approval was sought and granted at the last

Annual General Meeting on 11 October 2005.

 

Consequential changes

 

Following the change in accounting date, the Board's current expected timetable

is:

 

 

* 2 October 2006: Net asset value update at 30 September 2006

 

* End October 2006: Announcement of results for the 14 months to 30

September 2006

 

* Mid November 2006: Publication of Directors' report and issue of AGM notice

 

* Mid December 2006: Net asset value update and Annual General Meeting

 

* 3 January 2007: Chairman's quarterly update as at 31 December 2006

 

 

Enquiries to: John Watkins, telephone 01483 771992, or to john@starvest.co.uk

 

END

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They still haven't started the buybacks, it seems

 

Discount is pretty juicey here, against a slimmed down NAV.

I might take a srious look at it, at these levels or lower in late August

 

CHART

 

At 16-17p, SVE is on/near support from the 252d.MA. Ideally, I would buy at 15p or lower in late August, at a discount over 15%. The price might rise when the bubacks start in Sept-Oct and/or from a rally in Gold prices

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They still haven't started the buybacks, it seems

 

Discount is pretty juicey here, against a slimmed down NAV.

I might take a srious look at it, at these levels or lower in late August

 

CHART

 

At 16-17p, SVE is on/near support from the 252d.MA. Ideally, I would buy at 15p or lower in late August, at a discount over 15%. The price might rise when the bubacks start in Sept-Oct and/or from a rally in Gold prices

 

 

Dr Bubb,

 

You may want to take note that the CDE placing has failed, and as a result SVE which have a 55,000,000 holding in CDE may take a hit IMO.

 

On the NAV, CDE are showing as around 5p, whereas someone was offered 1.25p to sell this afternoon!

another person was offered 2.5p, but it seems inevitable the NAV of SVE will fall a bit once the implications of CDE's placing not suceeding are realised.

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Dr Bubb,

 

You may want to take note that the CDE placing has failed, and as a result SVE which have a 55,000,000 holding in CDE may take a hit IMO.

 

On the NAV, CDE are showing as around 5p, whereas someone was offered 1.25p to sell this afternoon!

another person was offered 2.5p, but it seems inevitable the NAV of SVE will fall a bit once the implications of CDE's placing not suceeding are realised.

 

 

 

CDE has totally collapsed now, and the current BID is 0.5p!

 

SVE, with a holding of 55 million shares have lost nearly £2,500,000 from their NAV in the last couple of weeks, and this has yet to be reflected in the ir SP IMO.

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CDE shows what can happen with the illiquid shares that Starvests focusses upon

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CDE has totally collapsed now, and the current BID is 0.5p!

 

SVE, with a holding of 55 million shares have lost nearly £2,500,000 from their NAV in the last couple of weeks, and this has yet to be reflected in the ir SP IMO.

 

You could be right, Starvest has been hovering around 17-18p for some time now. Recent selling at around 16.50p. Couldn't see any buyers.

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You could be right, Starvest has been hovering around 17-18p for some time now. Recent selling at around 16.50p. Couldn't see any buyers.

 

 

Well SVE still maintains it's price, and CDE now has a 0.25p BID price!

 

I know it trades at a discount to NAV, but I remain bearish in the short term at least.

 

As Dr Bubb rightly says, this illustrates the risk of the sort of equities SVE invests in, and the subsequent illiquidity if it goes wrong.

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Sorry to bring an old thread back, but has anybody got a current opinion of starvest.

 

 

Got a few loosers like Black Rock but GGP have been doing very nicely as of very recently.

 

thoughts?

 

 

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Sorry to bring an old thread back, but has anybody got a current opinion of starvest.

 

 

Got a few loosers like Black Rock but GGP have been doing very nicely as of very recently.

 

thoughts?

Currently at 7p it's one of those that you could have lost a lot of money on in the last couple of years.

 

http://www.sharecrazy.com/share2607share/s...re&epic=SVE

 

Announcement 2 January 2009

 

Chairman’s update for shareholders – 2 January 2009

Investment performance

 

Whilst the past three months have proved to be more challenging in markets generally, the valuation basis adopted when preparing the Starvest annual financial statements at 30 September 2008 has proved to be fully justified so that the portfolio valuation at 31 December 2008 is very slightly higher at £3.92m.

 

http://www.starvest.co.uk/

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Looking at its 3 year chart my novice eye spots something that looks very like a head and shoulders between Jan 2007 - Jan 2008.

 

Hindsight is a wonderful thing!!

 

There are so many of these battered things around, can we try and put a thread together on the most attractive ?

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imgadl.jpg

 

imgadjp.jpg

 

Official NAV fully diluted 24.01p (10th December 2010)

Share price discount to fully diluted NAV 45.8% (@13p)

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