Baker Steel Resources Share Discussion Threads

[rcturner2] 22/12/2011 12:45

If you look at the chart it is mirroring the end of last year. I wonder if there is some end of year selling for some reason?

[rcturner2] 21/12/2011 11:05

SM - yikes that was a terrible typo it is 37%!

[strollingmolby] 21/12/2011 09:48

37% on my calculator! :o)

[rcturner2] 21/12/2011 08:59

An NAV of 127p and a share price of 80p equals a discount of 27%.

[envirovision] 20/12/2011 14:02

Clearly the market was expecting a far larger nav uplift.

[strollingmolby] 19/12/2011 11:55

Bought back in earlier today too - looks like interest increasing here judging by the volumes. Bt some more BSRW too.

[rcturner2] 19/12/2011 10:31

Bought in today.

[rcturner2] 16/12/2011 16:34

Surprised at the deathly silence on here. First we have a superb uplift in the NAV and then we have the price dropping off for no obvious reason. Great discount to NAV once they revalue.

[strollingmolby] 06/9/2011 06:36

Robust NAV performance during a poor month elsewhere (and always good to read the accompanying commentary too):

31 August 2011 NAV Statement

Net Asset Values

Baker Steel Resources Trust Limited (the "Company") announces its net asset value and diluted net asset value per share as at 31 August 2011:

Net asset value per Ordinary share: 118.7 pence

Diluted net asset value per Ordinary share: 115.5 pence

During the month, the undiluted NAV per share fell by 1.7%, largely due to a fall in the share prices of the listed part of the Company's portfolio during the recent market turbulence.

[rambutan2] 02/9/2011 09:23

All progessing at Ferrous (13.8% of nav)...

[strollingmolby] 26/8/2011 10:30

From today's interims (my bold) :

"In particular Ivanplats, the Company's largest holding, agreed with ITOCHU Corporation of Japan for it to acquire an 8% interest in Ivanplats' Platreef project in South Africa for 22.4 billion Japanese Yen, valuing the Platreef Project at approximately US$3.5 billion. Ivanplats rates its Kamoa copper deposit as the most significant copper discovery in the Democratic Republic of Congo since Belgian colonial-era exploration more than 100 years ago. If Kamoa were to be attributed an equivalent value to the Platreef project on IPO, this would suggest a valuation more than four times the Company's current carrying value or almost a doubling of the current NAV per share. Ivanplats has suggested that subject to market conditions, it will consider initiating the IPO later this year or early in 2012.

[doobster78] 01/8/2011 12:45

Yep. Noticed this one last week @ £1.13p i think it was ...thought i;d check back see how it was doing and now @ £1.23. . Lookin good and like u say, must be something in the background ...interesting ?

[rambutan2] 01/8/2011 10:10

Must be some news out there?

[strollingmolby] 22/6/2011 15:47

Ivanplats applies for mining licence for DRC copper project

June 22, 2011

Ivanhoe Nickel & Platinum (Ivanplats) has applied for a mining licence for its Kamoa copper and cobalt project in Katanga province in the Democratic Republic of Congo (DRC)

Ivanhoe Nickel & Platinum (Ivanplats) has applied for a mining licence for its Kamoa copper and cobalt project in Katanga province in the Democratic Republic of Congo (DRC). Pre-feasibility, metallurgical, geotechnical as well as socio-economic and environmental studies are underway at Kamoa as the company prepares to take the project into commercial production.

[strollingmolby] 03/6/2011 07:22

ITOCHU Corporation (HQ: MINATO-KU, Tokyo, Masahiro Okafuji, President and CEO ; hereinafter "ITOCHU") has agreed with Ivanhoe Nickel & Platinum Ltd. (Ivanplats) to acquire a direct interest of 8% for JPY22.4B to participate in the exploration & development of Platinum Group Metals (PGMs) and Nickel of the Platreef Project and has concluded a joint operation and investment agreement with the company. ITOCHU now will hold an aggregated project interest of 10%, which includes its 2% holding previously acquired for USD10mm (approximately JPY850mm) in September 2010.

[kombimatec] 03/6/2011 07:14

Apparently the opportunity to invest will be available to existing share & warrant holders. Well done BSRT, the right move in my opinion.

[envirovision] 16/5/2011 09:11

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 09:07

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 09:23

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