Used to be Webshareshop and changed it's strategy to mineral investment a while back. Been up and down of late but looks set for growth again, good news flow this am and at last results, could hit 18p imo by xmas, no reason not given it's discount to nav, not it makes a profit and has positive, think it was just over a penny eps.

"spot-on" it what we all hope for as private investors, and thanks!!

Lovely stuff.
If the high court let them do the bit of financial jiggery-pokery they want then with the profits they expect to make THIS YEAR, they will consider a share buyback AND/OR a divi.
Top drawer.
Alan

ellio,

Yes I did attend the EGM.

Present were Bruce, Tony, and John representing the company, the NOMAD was represented, Bob Young CEO of Beowulf, and 11 attendees.

The reason for the EGM was to propose the repayment of the P/L defecit account from the share premium Account, a resolution that was duly passed by 11 million votes to 5,000!

As a result of this, Starvest are now free to either pay a dividend, buy back shares for cancellation, or as Treasury shares.

Whilst I personally prefer capital growth, the consensus seems to be that the market will take a positive view of SVE paying dividends.

After this there followed an interesting general discussion regarding SVE's holdings, and their respective values.

Bruce announced that SVE would be taking a position in Greatland Gold, a company soon to list on AIM.

All in all the meeting was very positive, as you would expect after the recent rise in the NAV, and I would expect to see SVE pay an initial dividend before year end.

Starvest plc

Extraordinary general meeting

At an extraordinary general meeting of Members held today, the two resolutions
before Members were both passed. As a consequence, the Company will now petition
the High Court for the share premium account to be reduced by #659,487 thus
eliminating the negative balance on the Company's profit and loss account as at
31 January 2006. This procedure is likely to take several months.

When the court order is granted and with the profits expected to be declared for
the current financial year to 31 July 2006 the Board will consider:

*a share buy back programme, authority for which was last granted at the
2005 AGM, and/or

*the payment if a first dividend on ordinary shares.


R Bruce Rowan
Chairman & Chief Executive

Thanks for the report, Andy.
Alan

Alan,

My pleasure.

excellent Andy, cheers

locking in profits already!

On the march again

Good news coming? small tree shake in preparation!

ellio,

Could be very good news, if CDE do manage to conclude and bring home the Pechora Energy deal, SVE will certainly move if that happens.

They could announce at any time now.

Everything crossed!

Looking ver cheap again, 35p min target!!

ellio,

Not without details of the CDE deal I fear.

A lot now depends on the price CDE can raise capital in the city to fund the Pechora Energy purchase, and move to AIM.

If the price is around the current level, it should be ok, but if the price is at a sizeable discount, then SVE would suffer in the near term IMO.

Good points as always Andy,

Do you think sve will add to its holding? they have the money!

sve have just picked up another 15million shares in INDY which is steadily rising-that seems to be flavour of the month at the moment. If CDE float on Aim it may be a while before they get going but I'm holding for the longer term.moved out of SVE for the moment hope I'm not left behind.

ellio,

Certainly not, (IMO), it's too big as a percentage of their (SVE) portfolio already IMO, but you never know, Bruce may take some to maintain the percentage holding they have, but I would think he will offload some when CDE trade on the AIM, as he has to diversify the risk.

CDE has done far better then Bruce thought in the time frame, so whilst I expect him to keep a large holding for the longer term , I think he will reduce CDE, as he has done Afplats.

A lot of SVE holdings are illiquid, so in order to rotate his investments, Bruce can only trade the more liquid ones.

Andy,

For the record I think CDE is a very exciting opportunity!! I believe they are playing it down a bit because they want to get people(city) on board at reasonable level and at these levels things look very attractive, the potential could be massive?

Starvest:
Bruce Rowan, Chairman of Starvest Plc talks to Proactiveinvestors about Starvest Plc
(Mar 2006)

Ever wondered what it would be like to have an investment return of 3000%? Well if you want to know how it feels, call up Bruce Rowan and ask him



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http://www.proactiveinvestors.com

Fall seems a bit overdone imo, not sure whats driving it down??