Blackrock World Mining (BRWM)

Company name:	Blackrock World Mining Trust Plc
EPIC:	BRWM	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	GB0005774855
Market Segment:	STMM	Share Type:	DE
WWW Address:		Description:	ORD 5P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
364.50	6.0 [1.67]	363.50	365.50	351.00	365.50	351.00	238,997
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
632.79	173.61	0.17	22.46	22.00	16.23	6.04	396.00 - 208.50

Blackrock World Mining Key Figures

(at previous day's close)
Market Cap.	632.79	m
Shares In Issue	173.61	m
Prev. Close	358.50
PE Ratio	16.23
Dividend Yield	6.04	%
EPS - basic	22.46	p
Dividend PS	22.00	p
Dividend Cover	1.02
Cash Flow PS	18.25	p
Return On Equity (ROE)	5.23	%
Operating Margin	94.42	%
PEG Factor	0.68
EPS Growth Rate	23.75	%
Dividends PS Growth Rate	22.22	%
Net Debt	93.72	m
Gross Gearing	11.16	%
Quick Assets	6.46	m
Net Working Capital	-88.54	m
Intangibles / Fixed Assets	-	%
Turnover PS	26.79	p
Pre-Tax Profit PS	25.30	p
Retained Profit PS	1.47	p
Cash PS	0.81	p
Net Cash PS	-53.92	p
Net Tangible Asset Value PS *	436.11	p
Net Asset Value PS	433.17	p
Spread	2.00 (0.55%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Blackrock World Mining Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	365.50	342.00
4 weeks	365.50	311.00
12 weeks	365.50	208.50
1 year	396.00	208.50

Share Price Chart (5 years)

Blackrock World Mining Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	344.50	20.00	5.81	342.00	0.38		354.94
4 weeks	319.00	45.50	14.26	311.00	0.49		339.80
12 weeks	307.00	57.50	18.73	208.50	0.48		300.15
26 weeks	348.50	16.00	4.59	208.50	0.48		334.62
1 year	336.50	28.00	8.32	208.50	0.42		344.41
3 years	338.00	26.50	7.84	208.50	0.34		360.21
5 years	309.00	55.50	17.96	157.50	0.41		312.33
† periods calculated are whole weeks rather than calendar months

Blackrock World Mining Key Management Ratios

Blackrock World Mining Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	2.23
PE Ratio	16.23
Tobin's Q Ratio	0.76
Tobin's Q Ratio (excl. intangibles)	0.76
Dividend Yield	6.04	%
Market-to-Book Ratio	0.84
Price-to-Pre-Tax Profit PS	14.41
Price-to-Retained Profit PS	247.57
Price-to-Cash Flow PS	19.97
Price-to-Sales PS	13.60
Price-to-Net Tangible Asset Value PS	0.84
Price-to-Cash PS	452.32
Net Working Capital PS	-51.00
Price Pct to Working Capital PS	-7.15	%
Earnings Yield	6.16	%
Average PE	19.24
Years in average	5
PE to PE average	84.33	%

Blackrock World Mining Financial Ratios

(Leverage Ratios)
Debt Ratio	0.02	%
Debt-to-Equity Ratio	0.00
Debt-to-Equity Ratio (excl. Intgbl)	0.00
Debt-to-Equity Market Value	0.00
Net Gearing	11.00	%
Net Gearing (excl. Intangibles)	11.00	%
Gross Gearing	11.16	%
Gross Gearing (excl. Intangibles)	11.16	%
Gearing Under 1 Year	11.15	%
Gearing Under 1 Year (excl. Intgbl)	11.15	%
Assets/Equity	1.13
Cash/Equity	0.18
(Liquidity Ratios)
Net Working Capital to Total Assets	-10.39	%
Current Ratio	0.07
Quick Ratio (Acid Test)	0.07
Liquidity Ratio	0.01
Cash & Equiv/Current Assets	21.67	%
(Solvency Ratios)
Enterprise Value	631.52	m
CFO/Sales	0.68
CFO/Attributable Profit	0.80
CFO/Assets	0.04
CFO/Debt	0.33
Total Debt/Equity Market Value	0.15
Total Debt/Sales	2.05
Total Debt/Pre-Tax Profit	2.17
Total Debt	95.12	m
Total Debt/Net Current Assets	-1.07	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	12.16	%
5 yr Compound Earnings Growth	3.99	%
10 yr Compound Earnings Growth	13.08	%
Earn drops > 5% in 10yrs	8

Beta (60-Mnth)	Beta (36-Mnth)
0.1735	0.0842

Blackrock World Mining Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	5.80	%
Return On Assets (ROA)	4.74	%
Net Profit Margin	85.05	%
Assets Turnover	0.06
Return On Equity (ROE)	5.23	%
Return On Investment (ROI)	5.48	%
Dividend Payout Ratio	97.95	%
Plowback Ratio	2.05	%
Growth from Plowback Ratio	0.11	%
Net Income Of Revenues	5.50	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.06
Fixed Assets Turnover	0.06
Current Assets Turnover	2.07
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	17.94
Debtors-to-Sales	8.64	%
Debt Collection Period	31.52	Days

Blackrock World Mining Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
30 Apr 2020	Quarterly	GBX	4.00	31/12/2019	31/12/2020	28/05/2020	29/05/2020	26/06/2020	-
27 Feb 2020	Final	GBX	10.00	31/12/2018	31/12/2019	19/03/2020	20/03/2020	07/05/2020	22.00
14 Nov 2019	Quarterly	GBX	4.00	31/12/2018	31/12/2019	21/11/2019	22/11/2019	20/12/2019	-
20 Aug 2019	Quarterly	GBX	4.00	31/12/2018	31/12/2019	29/08/2019	30/08/2019	01/10/2019	-
02 May 2019	Quarterly	GBX	4.00	31/12/2018	31/12/2019	30/05/2019	31/05/2019	28/06/2019	-
01 Mar 2019	Final	GBX	9.00	31/12/2017	31/12/2018	21/03/2019	22/03/2019	10/05/2019	18.00
08 Nov 2018	Quarterly	GBX	3.00	31/12/2017	31/12/2018	22/11/2018	23/11/2018	21/12/2018	-
16 Aug 2018	Quarterly	GBX	3.00	31/12/2017	31/12/2018	23/08/2018	24/08/2018	21/09/2018	-
25 Apr 2018	Quarterly	GBX	3.00	31/12/2017	31/12/2018	31/05/2018	01/06/2018	29/06/2018	-
26 Feb 2018	Final	GBX	6.60	31/12/2016	31/12/2017	22/03/2018	23/03/2018	10/05/2018	15.60
10 Nov 2017	Quarterly	GBX	3.00	31/12/2016	31/12/2017	23/11/2017	24/11/2017	22/12/2017	-
10 Aug 2017	Quarterly	GBX	3.00	31/12/2016	31/12/2017	17/08/2017	18/08/2017	15/09/2017	-
04 May 2017	Quarterly	GBX	3.00	31/12/2016	31/12/2017	01/06/2017	02/06/2017	30/06/2017	-
23 Feb 2017	Final	GBX	9.00	31/12/2015	31/12/2016	16/03/2017	17/03/2017	12/05/2017	13.00
11 Aug 2016	Interim	GBX	4.00	31/12/2015	31/12/2016	25/08/2016	26/08/2016	16/09/2016	-
29 Feb 2016	Final	GBX	14.00	31/12/2014	31/12/2015	24/03/2016	29/03/2016	06/05/2016	21.00
13 Aug 2015	Interim	GBX	7.00	31/12/2014	31/12/2015	27/08/2015	28/08/2015	18/09/2015	-
19 Mar 2015	Final	GBX	14.00	31/12/2013	31/12/2014	26/03/2015	27/03/2015	08/05/2015	21.00
14 Aug 2014	Interim	GBX	7.00	31/12/2013	31/12/2014	27/08/2014	29/08/2014	19/09/2014	-
20 Feb 2014	Final	GBX	14.00	31/12/2012	31/12/2013	05/03/2014	07/03/2014	15/05/2014	21.00
21 Aug 2013	Interim	GBX	7.00	31/12/2012	31/12/2013	28/08/2013	30/08/2013	26/09/2013	-
19 Feb 2013	Final	GBX	14.00	31/12/2011	31/12/2012	06/03/2013	08/03/2013	02/05/2013	21.00
09 Aug 2012	Interim	GBX	7.00	31/12/2011	31/12/2012	22/08/2012	24/08/2012	21/09/2012	-
23 Feb 2012	Final	GBX	14.00	31/12/2010	31/12/2011	07/03/2012	09/03/2012	26/04/2012	14.00
24 Feb 2011	Final	GBX	6.00	31/12/2009	31/12/2010	30/03/2011	01/04/2011	13/05/2011	6.00
19 Feb 2010	Final	GBX	4.75	31/12/2008	31/12/2009	17/03/2010	19/03/2010	28/04/2010	4.75
12 Feb 2009	Final	GBX	5.50	31/12/2007	31/12/2008	18/02/2009	20/02/2009	30/04/2009	5.50
14 Feb 2008	Final	GBX	3.00	31/12/2006	31/12/2007	20/02/2008	22/02/2008	17/04/2008	3.00
05 Feb 2003	Special	GBX	0.50	31/12/2001	31/12/2002	12/02/2003	14/02/2003	23/04/2003	-
06 Feb 2002	Special	GBX	1.70	31/12/2000	31/12/2001	13/02/2002	15/02/2002	23/04/2002	-
06 Feb 2002	Final	GBX	1.45	31/12/2000	31/12/2001	13/02/2002	15/02/2002	23/04/2002	1.45
05 Feb 2001	Final	GBX	1.30	31/12/1999	31/12/2000	14/02/2001	16/02/2001	23/04/2001	1.30

Blackrock World Mining Fundamentals

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
turnover	28.87	100.00%	34.17	100.00%	38.19	100.00%	46.51	100.00%	m
pre tax profit	26.49	91.75%	31.18	91.25%	34.92	91.42%	43.92	94.42%	m
attributable profit	23.30	80.72%	28.09	82.22%	32.01	83.82%	39.56	85.05%	m
retained profit	-8.49	-29.42%	-3.67	-10.74%	4.49	11.76%	2.56	5.50%	m
eps - basic (p)	13.19		15.92		18.15		22.46
eps - diluted (p)	13.19		15.92		18.15		22.46
dividends per share	13.00		15.60		18.00		22.00

Blackrock World Mining Balance Sheet

	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)


	31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	760.17	99.01%	906.48	99.42%	778.53	95.29%	845.78	99.24%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	5.15	0.67%	2.57	0.28%	2.98	0.36%	5.06	0.59%	m
cash & securities	2.48	0.32%	2.68	0.29%	35.50	4.35%	1.40	0.16%	m

TOTAL	767.80	100%	911.72	100%	817.00	100%	852.23	100%	m

LIABILITIES
creditors - short	90.09	11.73%	106.43	11.67%	131.26	16.07%	95.00	11.15%	m
creditors - long	0.17	0.02%	0.64	0.07%	0.15	0.02%	0.12	0.01%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	90.25	11.75%	107.08	11.74%	131.41	16.08%	95.12	11.16%	m

EQUITY
ord cap, reserves	677.55	88.25%	804.65	88.26%	685.60	83.92%	757.11	88.84%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	677.55	88.25%	804.65	88.26%	685.60	83.92%	757.11	88.84%	m

OTHER
NAV Basic	383.98		-		388.81		433.17
NAV Diluted	383.98		-		388.81		433.17

Blackrock World Mining Cash Flow Statement

	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)
Operating CF	6.91	11.36	57.43	31.69	m
Pre-Financing CF	6.91	11.36	57.43	31.69	m
Retained CF	2.50	-10.55	46.30	-33.79	m

Blackrock World Mining Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MME)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Oriel Securities Limited	Market Maker(MME)	Broker/Dealer	OREL	ORSNGB21
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC