Baker Steel Resources Share Discussion Threads

[envirovision] 05/2/2015 14:40

Could they not simply liquidate the company and return circa 40 pence, could be worth buying at these levels then imo

[ipoman007] 30/1/2015 11:38

Baker Steel targeting £100mln and calling bottom of commodity cycle? See

[rcturner2] 04/12/2014 09:37

One day the resource investment trusts will be a big bargain, since as prices crash they will move to bigger and bigger discounts so when the rebound comes it will be massive. However, I think we are still quite a way off from that, especially when it has just shed 10% NAV in a month. But apparently they think we have reached the bottom? Hard to take seriously.

[flying pig] 04/12/2014 09:27

DEAL BEING RENEGOTIATED?
Asset value down but across the market issues and still a big premium to share price. At some point this will recover, but now looks a "long term lock-away" rather than a short term trade.

[ptolemy] 20/11/2014 13:56

Price ticking up..but I don't like this bot of the release:

"It is proposed that the consideration for the acquisition of the Assets will be satisfied by the issue of new equity in the Company, such equity to be valued at the prevailing net asset value in respect of unlisted assets being acquired and at a 15% discount to the prevailing net asset value in respect of listed assets being acquired."

Given some (all?) of the to be acquired names are already held by the fund and it trades at a 40% discount, buying more at a 15% discount does not appear sound...

[rcturner2] 10/11/2014 13:36

I am not keen on the statement about nearing the bottom of the commodity super cycle. What evidence do they have to back that up?

[kimboy2] 10/11/2014 13:23

Looks a very good deal to me if they can pull off the fund raising and get the acquisitions at the right price.

[pugugly] 10/11/2014 11:06

almac999:> Your last line has put the finger on it - Very much (imo) depends on the competence of management - An aquisition of "such equity to be valued at the prevailing net asset value in respect of unlisted assets being acquired" is (imo) far too generous unless some real undisclosed gems in the mix -

[fangorn2] 07/11/2014 12:01

That's a far better performance NAV wise than expected - a wind up given such a large discount, and the volatility in commodity markets might be a good idea. But just how "Liquid" are BSRT's top 10 holdings? Not very i'd expect looking at the companies.

[bench2] 06/11/2014 22:05

Given the continued fall in commodity prices an NAV end Oct of 51.5p is quite a result only down 2.3% on the month (30 Sept 52.7p ) . I agree with MF not viable in the long term , but could be a profitable wind up at current price of 28p , a 46% discount to NAV . A 45p liquidation value would garner a 60% profit from here , not to be sniffed at !!!!!!!!!!!!!!!!!

[fangorn2] 05/11/2014 16:42

Am expecting Nav to have dropped again given that the value of one of it's largest stake has collapsed.

Ivanhoe Mines.
See it's up 13.5% to just under a loonie today so illusrates just how far it'd fallen (was C$0.81 yesterday!! Recall it was around C$1,50 not too long ago)

[mad foetus] 05/11/2014 15:31

I would have thought the board must seriously be thinking of winding this up: the fees are linked to the market cap and it is going to be very difficult to sustain the work a closed ended fund of this sort requires (visiting mines, meeting management etc) on £300k pa.

[bench2] 05/11/2014 15:24

Even bigger discount now . We are waiting for the 31 Oct NAV which should be announced tomorrow .

[flying pig] 01/10/2014 06:00

Huge discount of c 40% after recent fall to c33p. Eventually the price will respond and value will out -(I hope)

[flying pig] 12/8/2014 06:29

Modest increase in asset value, share price stagnant, even better value in the longer term. Now if the share value increased at the same rate each month ..... 84p this time next year +53%.

[coolen] 08/7/2014 21:39

Related to the recent GOS share placing ?

[rambutan2] 07/7/2014 22:53

OAM added 5m at 36p on 2 July to take it up to 7.8m (10.9%).

[fangorn2] 12/3/2014 10:49

Surprised this ever trades myself with a quote of 41.5 - 44.75

See two relatively medium sized trades gone through at 41.7 & 41.5 in 13,834 & 14,000 today respectively.

[rambutan2] 05/3/2014 13:48

Its run by a very canny Irishman called Desmond Kinch. It invests in value at a discount. He knows the closed end fund world very well. I take it as a reasuring sign if he appears on the share register. imho.

[fangorn2] 05/3/2014 11:59

At a bargain price :)

Not sure what a European Value fund is doing investing in:


Ivanhoe Mines Limited 16.3% (Congo)
Black Pearl Limited 13.9% (Indonesia)
Gobi Coal & Energy Ltd 13.0% (Mongolia)
Ironstone Resources Ltd12.5% (Canada)
Bilboes Gold Limited 10.5% (Zimbabwe)
Polar Silver Resources 9.3% (Yakutsk)

Guess the likes of Siemens, Fiat, Roche are a tad too conservative and predictable.

[rcturner2] 05/3/2014 11:50

Looks like they were the buyers of the 1.6m shares.

[fangorn2] 05/3/2014 11:46

Overseas AM "Euro Value Fund" increases stake to 4.3%

[coolen] 04/3/2014 21:31

Not bullish that the 1.6m went through at the bottom end of the quote.

[fangorn2] 04/3/2014 12:59

Large trade first up this morning...

2014-03-04 12:58:19 42.49 1,000 42.25 43.00 Sell 425 O
2014-03-04 09:16:08 41.00 1,665,000 42.50 46.00 Sell 682,650 O

Then quiet before a more modest 1000.