Baker Steel Resources Share Discussion Threads

[rcturner2] 07/6/2013 06:08

NAV = 92p

Share price = 52p

Discount = 44%

!!!

[marben100] 06/6/2013 22:48

Assuming no writedowns to unquoted assets, I estimate the NAV @ ~86p, hence a 38% discount @ a share price of 53p.

I added some more shares at that price, shortly before the close today.

We should get an official update to the NAV as at end May shortly - perhaps tomorrow?

[coolen] 06/6/2013 21:49

How large is the discount, please ?

[rcturner2] 06/6/2013 11:56

I must admit I don't really understand it. I would have thought there is still good demand for resources, given that US economy is recovering.

[marben100] 28/5/2013 12:22

Discount v tempting. I added last week @ around 68p - too early!

In answer to your Q RCT2 - yes! SPs of many miners have been trashed (even good producers), due to commodity price fears.

If those fears aren't realised, there will undoubtedly be strong gains in due course.

[rcturner2] 23/5/2013 12:39

Massive discount opening up here. Are resource stocks so out of favour?

[marben100] 21/4/2013 15:27

IVP now stands at C$3.03, my NAV estimate now 89.8p - not surprising share price has fallen.

Confidence in commodity prices needs to be restored before explorers/developers can regain value.

[rcturner2] 18/4/2013 15:24

I guess this is tanking on the back of the general fear around commodity stocks at the moment?

[marben100] 08/4/2013 16:20

Unfortunately, IVP has declined somewhat since then (in common with many miners): C$4.34 on 28th March; C$4.16 latest share price I estimate the current diluted NAV at 102p/share.

Nevertheless, still a big discount & happy to hold for the longer term.

[strollingmolby] 08/4/2013 12:05

IMS just released, detailing a 20% discount to NAV at 28 March. Largest holding, Ivanplats (34%) advancing nicely.

[coolen] 04/4/2013 11:59

Suspended ?

[jaws6] 28/3/2013 11:38

DAVID on Ivanplates video

[energiser01] 25/3/2013 16:02

Update - BSRT's 3rd largest holding - Good set of results for 2012.

China Polymetallic Mining Limited 8.9% NAV @ end of Feb.

A company listed on the Hong Kong Stock Exchange with a producing silver/lead/zinc mine and other development opportunities in China.

Latest mgmt presentation to go with results @



dyor etc..

[marben100] 06/2/2013 16:04

Extraordinary that IVP should FALL on that news... Couldn't resist picking some IVP up directly @ C$4.75 for my ISA - should be an interesting story. Platreefs/Flatreef looks huge, though will require pretty massive CAPEX to develop.

I note Itochu are on board (as JV partners) - they got into Extract Resources judiciously. ;0)

[jaws6] 06/2/2013 11:50

smolby
Tks for link

marben
Tks for all info.will see later when opens in TSX

Did you notice this in your link about hacking

[marben100] 06/2/2013 11:28

Major resource increase at Flatreef announced by IVP:

Indicated resources now stand at 29.2Moz 4PGE; inferred at 44Moz + Cu & Ni credits.

Last estimate (released @ IPO) was 37.6Moz inferred (no indicated), so rough doubling of total resources at Flatreef.


IVP share price reaction today will be interesting... glad that BSRT are locked-in, wouldn't want them selling too soon!

[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