Baker Steel Resources Share Discussion Threads

[envirovision] 16/5/2011 10:11

Well that's no good to anyone why the hell are they telling the market this. No point in telling half a story. Now people dont know if they are going to get a rights issue, a placing, at what price, dont know if it will be open to who and dont know if they are going to get diluted or anything.

No wonder the shareprice just ticked down.

FFS

[strollingmolby] 16/5/2011 10:07

Portfolio update and potential issue of equity

As at 28 April, the Company was 92.5% invested. A further investment to which the Company has recently committed would take this to approximately 97% invested.

In addition it is noted that Ivanhoe Nickel and Platinum Limited ("Ivanplats") which represented 25.3% of the Company's NAV at the end of April, has convened a shareholder meeting to approve a reorganisation ahead of a planned IPO. Speculation in the media has suggested that a potential IPO for Ivanplats could be at a substantial premium to the Company's current carrying value. This would increase further the percentage of the Company's portfolio represented by Ivanplats.

As part of the proposed reorganisation of Ivanplats, the Company's holding would be subject to a lock-up period. The Company is therefore considering the possibility of an issue of equity in order to facilitate portfolio diversification as well as to take advantage of a pipeline of new investment opportunities currently being considered by the Investment Manager.

----

One hopes the discount to the current share price is not too aggressive given the impending uplift that the Ivanplats IPO will deliver.

[envirovision] 07/4/2011 10:23

Tasty discount to NAV again:


DJ Baker Steel Resources Trust NAV As At March 31 Was 106.2P

LONDON (Dow Jones)--Baker Steel Resources Trust Limited (BSRT.LN), the trust, Thursday announced its net asset value per share as at March 31, 2011 was 106.2 pence.

MAIN FACTS:

-Diluted net asset value per ordinary share: 105.1 pence.

-During the month the undiluted NAV per share rose by 4.7% largely attributable to an increase in the valuation of Ivanhoe Nickel & Platinum.

-Shares at 0920 GMT flat at GBP0.95 valuing the company at GBP62.65 million.

-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; [e-mail]

(END) Dow Jones Newswires

April 07, 2011 05:21 ET (09:21 GMT)

Copyright(c) 2011, Dow Jones & Company Inc.

Clearly this trust along with the NAV will go through the roof once Ivanhoe floats.

[envirovision] 09/3/2011 13:46

Here is a nice little update in this weeks IC:




A placing of shares in Gobi Coal, which may well boost the net asset value of private equity specialist investment trust Baker Steel Resources, should go through this month, according to the trust's management.

and get this:

Press speculation has suggested Ivanhoe Nickle & Platinum, which accounts for a fifth of the trust's net assets, could float this year at five, yes "FIVE" times its current valuation.

[envirovision] 09/3/2011 13:43

That's it then, I have bought back.

[envirovision] 11/2/2011 09:02

me to i have sold into that IC tip, will buy back lower later.

[rcturner2] 11/2/2011 08:51

I sold this morning. 20% in a week is enough for me.

[envirovision] 07/2/2011 14:45

my mistake conv = £1 + cost

[strollingmolby] 07/2/2011 14:05

Surely needs to be above BSRT + BSRW to be in the money ? i.e. ~ 121p

[envirovision] 07/2/2011 13:32

Strong today and not far till the warrants will be in the money.

[rcturner2] 04/2/2011 16:30

I bought some this morning after the IC tip.

[envirovision] 04/2/2011 15:14

good idea to link it in the header

[strollingmolby] 04/2/2011 14:40

I've just created a BSRW thread

(to marvel at the price rise!)

[envirovision] 04/2/2011 13:18

Well it just needs to get going really, once a decent IPO has been got away then it should add a bucket load of confidence and really start to wake up. Patience is all one needs, it will happen imo.

Isn't it.

[strollingmolby] 04/2/2011 09:53

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.

[envirovision] 04/2/2011 09:02

about time someone wrote a piece on this: Investors Chronicle wrote a long article today, very interesting.



BULL POINTS:
■ Wide discount, especially once cash is accounted for
■ Potential 8 per cent NAV uplift at end of the month
■ Potential valuation uplifts from IPOs
■ Improved market conditions for IPOs
BEAR POINTS:
■ Disappointing track record since launch in April
■ High estimated total expense ratio

Baker Steel Resources' track record, concentrated portfolio, and investment strategy makes it a punt. But with the discount wide and a potential NAV uplift at the end of the month, the timing may be right to take the risk. Buy

[envirovision] 07/1/2011 12:05

BSRW @ £1 TILL 03/2013

[strollingmolby] 01/9/2010 10:09

Interim financial results for period from 9 March 2010 (date of
incorporation) to 30 June 2010.

HIGHLIGHTS

Company
� Raised GBP30.5 million via placing and open offer
� 62.6% invested at 30 June 2010
� Listing on London Stock Exchange 28 April 2010
� NAV 95.5p (GBP0.955) per share at 30 June 2010
� Acquisition of majority of non-cash assets of Genus Capital Fund

Investments
� All cash offer for Copperbelt Minerals Limited
� Postponement of listing of Ferrous Resources Limited



Outlook

The market environment which saw the postponement of the Ferrous float has also meant that other companies have struggled to float or raise equity. This has provided a number of new opportunities for the Company and the Investment Manager is evaluating potential investments in gold, silver and coal mining companies. Additional precious metals mining exposure would be welcome to balance Baker Steel Resources Trust's commodity exposure.

[strollingmolby] 19/8/2010 13:57

Trading at end-July NAV, and hasn't taken part in August rise in resources.

Speculation in Telegraph that largest holding Ferrous Resources could be a target for a takeover by newly created Vallar, following Ferrous' failed London listing.


Ivanhoe taking steps to dilute or block Rio Tinto from making a low-ball offer for the company.

[strollingmolby] 13/7/2010 08:43

hxxp://bakersteelresourcestrust .com/

NAV charts incl premium/discount can be seen here:




BSRW thread -

Tungsten West (LSE:TUNG)


Largest Holdings as at 31-Oct-23:
30.2% - Cemos Group
28.9% -
8.5% -
6.0% - Caledonia Mining Corporation
5.5% - Kanga Investments
4.0% - Nussir ASA
3.5% - Silver X Mining Corp
3.5% - Metals Exploration
2.4% - First Tin
2.1% - www.tungstenwest.com
5.1% - Other Investments