Monday 11 October 2010
Net asset value update - 8 October 2010
The Starvest investment performance since 30 September 2009 has been mixed.
During the year ended 30 September 2010, net of debt, the Company net asset
value appreciated by 4.2% closing at £4.19m. However, during the ten months to
end July 2010, market conditions were very tough, especially for junior mineral
exploration companies many of which struggled to raise necessary cash. The low
point was at the end of July since when a 75% recovery has transformed the
portfolio. The facts at the 30 September and on 8 October 2010 were as follows:
30 September 2010 8 October 2010 30 September 2009
Trading portfolio value £4.57m £4.82m £4.72m
Company asset value net of £4.19m £4.42m £4.02m
debt
Net asset value - fully 11.28 pence 11.91 pence 10.72 pence
diluted per share
Share price - mid 7.75 pence 8.75 pence 11.75 pence
Share price discount to fully 31.3% 26.56% 9% premium
diluted net asset value
Market capitalisation £2.84m £3.21m £4.1m
The next valuation will be as at 31 December 2010, or earlier if values change
significantly.
R Bruce Rowan
Chairman & Chief Executive
11 October 2010
Enquiries to:
Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director
07768 512404; john@starvest.co.uk
Gerry Beaney or Colin Aaronson Grant Thornton Corporate Finance 020 7383 5100
END
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Source: Starvest plc via Thomson Reuters ONE