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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Baker Steel Resources Trust Limited | BSRT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.25 | -0.50% | 49.75 | 14:55:36 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 50.00 | 49.50 | 50.50 | 49.75 | 50.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 30/11/2023 17:28 by golden prospect I'd not be surprised to see MIGO go overweight in BSRT, think Nick is a fan |
Posted at 08/4/2022 20:35 by rambutan2 A welcome counterbalance to the recent Russian mark downs:First Tin plc ("First Tin") On 30 March 2022 First Tin plc published its Prospectus and issued a formal Intention to Float on the London Stock Exchange. The date of admission has been set for 8th April 2022 and the company will trade under the ticker 1SN. The Listing is to be accompanied by an Initial Public Offering (IPO) totalling £20 million gross at a price of 30 pence per share. This compares to the Company's current carrying value of 22.5p and an average cost of approximately 8 pence per share. As the Company is the largest shareholder in First Tin with approximately 25.8% of the shares prior to the IPO, our shares will be locked-up for one year and accordingly they will be held at a discount to the market price in the NAV at the end of April 2022 in a similar way to our holding in Tungsten West Plc. The listing and IPO are the key conditions precedent to the acquisition by First Tin of the Taronga Tin Project in Australia from ASX listed Aus Tin Mining Limited. The acquisition of Taronga will add a third advanced tin project to First Tin's two advanced stage tin projects in south-eastern Germany: Tellerhauser and Gottesberg. The consideration for Taronga will be 60 million First Tin shares, equivalent to 22.6% of First Tin following the IPO. The proceeds of the IPO will be used to complete Definitive Feasibility Studies on Tellerhauser and Taronga and further exploration on Gottesburg. Following the IPO and the acquisition of Taronga, there will 265 million First Tin Shares giving a market capitalisation at the IPO of £79.5 million. The Company will be the second largest shareholder with a 13.5% interest. The IPO of First Tin will be an important step towards its aim to become a leading western supplier of fully traceable and verifiable tin units into those global industries which have a high requirement for tin. Those industries include the electric vehicle, renewable energy, energy storage, mobile telephony and semi-conductor sectors which are currently experiencing strong demand growth. The requirement for new sources of tin has become of increasing interest to investors as evidenced recently by Cornish Metals Inc's recent raising of £40.5 million, including a £25 million strategic investment by Sir Mick Davis' Vision Blue Resources, to investigate the potential restart of the South Crofty tin mine in Cornwall which closed in 1998. 1SN thread: |
Posted at 17/4/2019 11:09 by aim_trader Baker Steel Resources Trust will be presenting to investors at the upcoming Mining Capital Conference taking place on Thursday 2nd May in London. Details and registration here: |
Posted at 18/12/2012 16:38 by peterbill FWIW ... I emailed the contact on the website regarding whether there were any plans for extending the expiry date of the subs ... got this reply below.Dear Mr xxxxxx, Thank you for your email, which we received from Pelham Bell Pottinger, the company's PR advisors. We are the Investment Managers to Baker Steel Resources Trust ("BSRT"). Announcements and information regarding subscription shares can be found on the company's website: www.bakersteelresour As per your request, we will certainly forward your query to the BSRT board. Kind regards, Cosmo Sturge Investor Relations Associate Baker Steel Capital Managers LLP 86 Jermyn Street, London, SW1Y 6JD T: +44 (0)20 7389 8280 www.bakersteelcap.co |
Posted at 07/12/2012 15:11 by peterbill Hi KenMitch,Regarding the warrants/subs expiring worthless ... Agree that it is a double whammy for investors and the company. Will ask the question elsewhere and the WT thread. PB |
Posted at 07/12/2012 12:13 by kenmitch Peterbill. Yes, it does happen. It happened with KMRW as you realise and recently Vietnam Holding extended their expiry date from December 13th to September 2013. I can't understand, since it obviously can be done, why more Companies and Trusts don't extend the date as a worthless expiry is a double whammy in that investors (if they haven't cut losses) lose 100% and the Trusts don't get anything from the subs or warrants being exercised. So they had the sometimes expensive listing costs for no return instead of £millions, sometimes, from warrants being exercised. With luck someone from BSR will read this or if anyone is still holding the warrants it might be worth suggesting it to them. I sold BSRW recently for just 3p as Ivnaplatz in Canada was a damp squib so I'm not getting too excited yet about Ivanplatz listing here.... but it would be interesting if the warrant expiry date was extended as aside from Ivanplatz the shares are at a 20%+ discount. It's a good idea to post any question like that on the warrant thread as well as you've much more chance of experienced warrant investors seeing it there. |
Posted at 13/9/2012 08:45 by kimboy2 The only comment I have found about Ivans valuation is;At the moment, based on grey market trading, the company is worth about $850-million. Pre-IPO stock of Ivanplats has been trading recently at $2 a share, said one person who tracks the grey market. With about 423 million shares outstanding, according to the filing, that puts the value of the company at almost $850-million I had thought the grey market had stopped some time ago due to the lock ins for existing shareholders. We will no doubt find out what the valuation will be but I think it will be well north of $850m, if not the $5bn+ originally touted. |
Posted at 30/8/2012 11:29 by strollingmolby From today's results:Review At the end of June 2012, Baker Steel Resources Trust Limited was fully invested. Small top-up investments in Polar Silver Resources Limited, Bilboes Holdings (Private) Limited and Copperbelt Minerals Limited have been made during the period totalling less than 0.5% of net assets.There have been no other new investments or realisations during the period. During the half, the NAV per share fell 12.5% to 114.9 pence largely due to decreases in the carrying values of Ferrous Resources Limited ("Ferrous") and Copperbelt Minerals Limited as well as falls in the market values of the listed investments in the portfolio. The largest contributor to the fall in NAV per share (6.5 percentage points) during the period was from a decision by the Company to reduce the carrying value of its interest in Ferrous, following the reported sale of part of its stake in Ferrous by Harbinger Capital Partners LLC, which had held approximately 26% of the shares of Ferrous. In February 2012, Ferrous announced the appointment of a new Chief Executive, Jayme Niccolato Correa, who was previously with major iron ore producers Vale and CSN. In June 2012, Ferrous announced that following a comprehensive review of its strategic options and operations by Mr Correa, Ferrous had decided upon a new strategy for the development of its projects and since that time, the Investment Manager has met with Mr Correa in order to understand better the new strategy. The revised plan is for step-by-step organic growth to production of an initial 5 million tonnes of iron ore per annum from 2013 which will reduce funding requirements in the short term as opposed to the previous target of 24 million tonnes per annum. However, following the end of the period the carrying value was further reduced by 16.7% in line with significant "grey market" trading. Despite positive operating results from several companies in the listed part of the portfolio they suffered significant share price falls during the period alongside the general malaise in mining equity markets. China Polymetallic Mining Limited (down 12.6%) has reported it is well on track to ramp up its Shizishan Silver Lead Zinc Mine; South American Ferro Metals Limited ("SAFM") (down 18.8%) announced that it has completed construction of a concentrator at its Ponto Verde iron ore mine in Brazil which will increase saleable product from Ponto Verde by around 50% at minimal extra operating cost and therefore will have a materially positive impact on SAFM's cashflow; Forbes and Manhattan Coal Corp (down 44.1%) announced revenues increased by 124% last year. The important factor to note with all three of these companies is that they are in production and generating strong cashflows which means they do not need to access the current weak markets to fund their continued development. The largest company in the portfolio, Ivanplats Limited ("Ivanplats"), has also made good progress at its two major projects, producing updated NI 43-101 reports for both its Kamoa copper project in the Democratic Republic of Congo and its Platreef platinum nickel project in South Africa. Gobi Coal & Energy Limited ("Gobi") is laying the groundwork to commence production at its Shinejinst coking coal project in Mongolia, however recent weakness in global coking coal prices has translated into a significant reduction in the price of coal delivered to the Chinese border. This combined with current equity market conditions indicates a reduced likelihood of Gobi achieving its planned IPO in the near future and therefore funding for the Phase 2 expansion of its Shinejinst Mine in Mongolia. Subsequent to the end of the period, the Company has reduced its carrying value of Gobi by approximately 23%. Outlook Prices for metals have remained relatively robust and well above the long term prices the Company uses in modelling the underlying projects in its investment portfolio. Equity markets for mining shares have been weak in the first half of the year with the HSBC Global Mining Index down 9.8% with investors being in "risk off" mode as the market waits for a resolution to the sovereign debt crisis in the Eurozone. This increased "disconnect" between the prices of mining equities and commodities is unlikely to be sustained in the longer term and if commodity prices remain strong the recovery of prices of mining equities could well be marked. It should be noted that despite slowing economic growth in China, the strong growth over the past 10 years has provided a much larger base for the demand of metals and therefore the need for new mining projects. One of the key means for the Company to monetise investments is through IPOs. Although certain of the Company's investments are sufficiently advanced in their development to be able seek a listing, most notably Ivanplats, this will only occur once the general market for IPOs is more receptive. |
Posted at 06/3/2012 14:34 by kimboy2 I have the shares rather than the warrants as I was concerned about likely delays. However if the wts come down I may have a dart at them.I think the BSRT NAV of Ivanplats is based on a $1.75bn valuation. There is talk of a valuation of over $5bn and the button being pushed in Q2/12. If market turmoil can be avoided I think it sounds as though it will go ahead. I presume they have cash to raise, as well as have investors who would like a liquid market. Good risk/reward IMV |
Posted at 04/2/2011 09:53 by strollingmolby Hi envirovision - thanks for posting the IC piece. It has been very quiet commentary wise hasn't it?These guys know the resource sector inside out so I would expect BSRT to at least match the performance of BRWM (most investors' sector choice) and if not beat it hands down. |
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