Baker Steel Resources Share Discussion Threads

[strollingmolby] 06/2/2013 09:44

Thanks, jaws. Here's a Bloomberg version:

[jaws6] 06/2/2013 08:55

ivalplats ipo news in S A first before UK ? News on DJNews

[peterbill] 23/1/2013 12:21

New independent resource estimate more than doubles
high-grade Indicated Mineral Resources at Ivanplats' Kamoa
copper discovery in the Democratic Republic of Congo

[peterbill] 18/12/2012 16:38

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.bakersteelresourcestrust.com and also in the company's prospectus, which can be downloaded from the website. Unfortunately we as Investment Managers are not able to provide you with any further information at this time.

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: [phone]
www.bakersteelcap.com

[peterbill] 07/12/2012 15:11

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

[kenmitch] 07/12/2012 12:13

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.

[strollingmolby] 06/12/2012 11:51

PeterBill,

I'm not aware of subs/wts extensions but they probably do occur. However, if it doesn't and the price stays anywhere south of 105+ these will be priced close to zero long before March.

[peterbill] 06/12/2012 11:14

SM,

Regarding the expiry date of the subs, has anyone heard of an example of the expiry date being extended?

I seem to recall KMRW expiry date being extended ... can't remember the reasons (did hold some at the time) ... seem to recall an EGM taking place regarding the expiry date.

PB

[peterbill] 06/12/2012 10:52

Ivanplats next stop? London, says Friedland



Mining legend and Ivanplats (TSX:IVP) CEO, Robert Friedland, said he aims to have his African-focused mining company landing in the London stock exchange during the first half of next year.

Speaking at the Mines and Money conference in London, he said the company's Kamoa project in the Democratic Republic of Congo has the potential to become the largest copper mine in the world ...

[strollingmolby] 27/11/2012 14:32

RC,

Subscription Share Rights
A registered holder for the time being of a Subscription Share (a Subscription Shareholder) shall have a right (a Subscription Share Right) to subscribe in cash on 31 March and 30 September in each of the years 2010 to 2013 (both inclusive) commencing on 30 September 2010 and ending on 31 March 2013 or, if any such day is not a business day, then on the next business day (each a Subscription Date) for all or any of the Ordinary Shares to which his Subscription Shares relate at the price of 100 pence per Ordinary Share (the Subscription Price).

[rcturner2] 27/11/2012 14:06

Very surprised to see this dropping below 80p. What is the timescale of the lock-in with IVP?

Also, what is the timing and pricing of the subscription shares?

[langostino] 11/11/2012 20:58

Ivanplats is too top-heavy in the BSRT portfolio and their lock-in is very restricting. Unless you think IVP has a big future, BSRT has limited upside and the subscription shares will expire worthless. Pity, because Baker Steel are good stockpickers and have some good funds but this trust has been sidelined.

[strollingmolby] 18/10/2012 13:34

Good idea, Kimboy - done. may link to an ADVFN chart once I can find it - doesn't seem to be available yet.

[kimboy2] 18/10/2012 12:44

Might be handy if we can get the IVP chart in the header as well as it is likely to be the main driver of the NAV, for better or worse;

[strollingmolby] 18/10/2012 10:00

Further to BSRT's announcement this morning of the Ivanplats pricing, holding period and discount:

[kimboy2] 17/10/2012 19:50

Ivanplats shares began trading on the Toronto Stock Exchange on Wednesday on an "if, as and when issued" basis. Shares rose as high as C$5.20 in early trading and were up 6.3 percent at C$5.05 at 12:30 EDT (1630 GMT)

[kimboy2] 29/9/2012 20:07

Ivanplats, based in Vancouver, plans to sell 60.6 million shares in Toronto for C$4.50 to C$5.40 apiece, according to sales documents obtained by Bloomberg News. The pricing of the IPO is expected Oct. 15, according to the document.

[peterbill] 28/9/2012 12:30

Two weeks ago legendary mining billionaire Robert Friedland's Ivanplats lodged a preliminary prospectus to list on the Toronto Stock Exchange in what is set to be one of the largest mining IPOs in Canada in more than a decade.

It's not a moment too soon.

The roughly $300 million share offering – to fund development of Ivanplats's two copper properties in the DRC and the Platreef platinum project in South Africa – must happen soon to provide equity for convertible bondholders.

If the $165 million worth of bonds are not redeemed for stock, rates on the debt soars to credit card-like repayments of just under 19% on November 10 and to an eye-watering 26% in November next year. Bloomberg spoke to an analyst who put it this way:

"It's a gun to the head," Geof Marshall, who helps manage $6.3 billion of fixed-income investments at CI Investments Inc. in Toronto, said by telephone on Sept. 21. "The longer they wait, the more the equity holders' piece of the pie gets smaller and smaller."

Terms of the IPO which was initially put as high as $500 million may be out as soon as next week and could value Ivanplats, with offices in Vancouver Canada and Johannesburg South Africa, at around $850 million.




Tick, tock, tick, tock ... time running out before interest rates go up ...

[peterbill] 25/9/2012 13:55

Any word of a likely timetable for the Ivanplats IPO?