Baker Steel Resources Share Discussion Threads

[kenmitch] 01/3/2014 16:36

Alimac. No. Decided instead just to invest a bit in their main holding Ivanhoe Mines.

Would also be interested to know why British Bulls have said "buy." If it's because of anything bullish about Ivanhoe Mines that reinforces the case for just holding that one. IF for other reasons.. then it might be worth a re-think.

[coolen] 28/2/2014 19:24

Alimac, what's triggered that enthusiasm do you think ?

[alimac100] 28/2/2014 17:04

Any other lost souls still hanging in here................? Now know the real definition of contrarian.

FWIW British Bulls have just stuck a bull tag and a buy signal (yes a BUY!!!) on good old BSRT.

[jaws6] 06/11/2013 08:13

RNS out with 71 p NAV

[strollingmolby] 18/10/2013 12:56

Indeed - BSRT price has moved in opposite direction from IVN price... Discount widening.

[jaws6] 18/10/2013 11:59

ivanplates going good after placing

[kenmitch] 24/9/2013 14:37

Yes, and good to see that after an expected big dip yesterday, the share price back up again just now.

[strollingmolby] 23/9/2013 16:33

Company notes Ivanhoe placing of 50m shares at $2.00 per share...

IVP putting additional finance in place should certainly help move our main asset forward

[kenmitch] 18/9/2013 08:50

Ivanhoe Mines (note name change) up over 10% overnight to $2.16.

[kenmitch] 28/8/2013 08:33

Ivanplats share price has jumped recently and at $1.95 now well above early July lows of $1.29. Other main quoted holdings also inching up.

[jaws6] 01/8/2013 11:25

marben
Good trade. w done

[marben100] 01/8/2013 11:04

I make that discount 13.5% today, after the recent rise and performance of the underlyings (I estimate NAV now stands @ 70.3p). Trimmed my holding heavily today @ 60p. ;0)

[strollingmolby] 01/8/2013 10:25

Merryn Somerset-Webb (MoneyWeek aditor) also dropped BSRT into the bottom of this article on 19 July, where she argues against buying structured products, and instead buying stocks that have already fallen:



And the miners have been properly bashed. GlencoreXstrata is down 32 per cent since September alone and now offers a dividend yield of 5 per cent, which is some compensation for the risk inherent in holding its shares. Rio Tinto is much the same – down 26 per cent and yielding 4 per cent. Not a stock picker? You could buy BlackRock World Mining Trust, a diversified mining investment trust which yields 4.5 per cent and trades at a discount of 6.9 per cent to the value of its assets or, if you're really daring, Baker Steel Resources Trust, which holds junior mining and pre-IPO stocks. It's down over 50 per cent over the past year and trades at a yawning 38 per cent discount to its net asset value.

Not a bad 'tip' given the return since.

[slogsweep] 30/7/2013 07:24

Write up in Money week on 26/7/3 highlighting big discount
seems to have stimulated some buying.

[strollingmolby] 15/7/2013 20:16

At the moment the market is winning vs the analysts. I expect the pendulum will swing back a little once sentiment towards miners improves.

[rcturner2] 12/7/2013 09:21

On the 5th July it was 45p. It fell again the next day.

I agree we might be approaching the bottom, but I wouldn't bank on it.

[strollingmolby] 12/7/2013 09:17

Maybe, RC - maybe not. IVP appears to have turned the corner, up 7.7% overnight.

[rcturner2] 05/7/2013 07:13

Trouble is there will be more falls to come first.

[flying pig] 05/7/2013 07:07

Discount about 34% on mid price. Value is there if you have confidence in the medium term recovery......

[rcturner2] 04/7/2013 07:01

Baker Steel Resources Trust Limited (the "Company") announces its unaudited net asset value per share as at 28 June 2013:

Net asset value per Ordinary Share: 69.6 pence

During the month, the NAV per share decreased by 24.8% primarily as a result in the fall in the price of Ivanplats on the Toronto Stock Exchange and write downs to Gobi Coal and Ferrous Resources.

[kenmitch] 03/7/2013 20:56

Views on the continuing fall in the Ivanplatz share price anyone? It's down another 8% today at just $1.4 Canadian dollars.Just the market and falls across the board or also something specific to Ivanplatz? Surely impacting on NAV? The current discount to NAV must still be substantial but maybe no longer around 40%?

[marben100] 10/6/2013 12:42

Price is disconnected from fundamentals - likely a forced seller.

Positive news on Ivanplats monster Platreef project:

Mining licence now applied for & BBBEE vehicle established to own 26% of the project. With Japan's Itochu holding 10%, that leaves Ivanplats with 64% at present (+ a 49% interest in the BBBEE vehicle). Obviously major capital will be required to develop this property and equity markets are not exactly supportive, especially with South African projects at present. If western companies are too wary of S.A., Chinese or Russian partners, alongside the Japanese might be more willing to deal.

In the nearer term, good to read that drilling at Platreef is about to resume, after resolution of "a little local difficulty".

[marben100] 07/6/2013 07:08

Bear in mind that there have been further falls in listed investments since end May and my estimate takes those into account: still dirt cheap!