Baker Steel Resources Trust Ltd Net Asset Value(s) (9465N)

TIDMBSRT

RNS Number : 9465N

Baker Steel Resources Trust Ltd

05 October 2021

BAKER STEEL RESOURCES TRUST LIMITED

(Incorporated in Guernsey with registered number 51576 under the provisions of The Companies (Guernsey) Law, 2008 as amended)

5 October 2021

30 September 2021 Unaudited NAV Statement

Net Asset Value

Baker Steel Resources Trust Limited (the "Company") announces its unaudited net asset value per share at 30 September 2021:

   Net asset value per Ordinary Share:   97.0 pence 

The NAV per share has increased by 0.4% against the unaudited NAV at 31 August 2021, mainly due to the decrease of Sterling against the US Dollar.

The Company had a total of 106,462,502 Ordinary Shares in issue with a further 700,000 shares held in treasury as at 30 September 2021 .

Investment Update

The Company's top 12 investments were as follows as a percentage of NAV:

 
                                 30 September   31 December 2020 
                                     2021 
 Bilboes Gold Limited               19.7%            19.5% 
 Futura Resources Ltd               16.1%            16.2% 
 Tungsten West Limited              15.7%            13.2% 
 Cemos Group plc                    13.9%            14.5% 
 Polar Acquisition Ltd               8.9%             8.9% 
 First Tin Ltd                       5.2%             3.9% 
 Mines & Metals Trading 
  Peru PLC/Silver X Mining 
  Corporation                        4.2%             4.5% 
 Nussir ASA                          4.0%             3.4% 
 Kanga Potash                        2.7%             2.7% 
 Azarga Metals Corp                  2.5%             2.7% 
 Prism Diversified                   1.6%             1.5% 
 Metals Exploration plc              1.5%             1.9% 
 Listed Precious Metal Shares        1.8%             3.9% 
 Other Investments                   1.9%             2.4% 
 Net Cash, Equivalents and 
  Accruals                           0.4%             0.8% 
 

First Tin Limited ("First Tin") (formerly Anglo Saxony Mining Limited)

Anglo Saxony Mining Limited has changed its name to First Tin to reflect its ambitions to become a significant tin producer from sources in the First World. It currently owns the Tellerhäuser project and the Gottesberg project near Freiberg in Saxony, Germany and is negotiating to acquire a third advanced tin project.

First Tin has also appointed Dr. Thomas Bünger as its Chief Executive Officer. Dr Bünger is a metallurgist joining First Tin from Europe's largest copper and tin refiner, Aurubis AG, where he was Chief Operating Officer, Chief Technical Officer and executive board member responsible for all group operations and 4,000 employees. First Tin is planning an IPO in 2021.

Further details of the Company and its investments are available on the Company's website www.bakersteelresourcestrust.com

Enquiries:

   Baker Steel Resources Trust Limited             [phone] 

Francis Johnstone

Trevor Steel

   Numis Securities Limited                               [phone] 

David Benda (corporate)

James Glass (sales)

The Net Asset Value ("NAV") figure stated is based on unaudited estimated valuations of the underlying investments and not necessarily based on observable inputs. Such estimates are not subject to any independent verification or other due diligence and may not comply with generally accepted accounting practices or other generally accepted valuation principles. In addition, some estimated valuations are based on the latest available information which may relate to some time before the date set out above.

Accordingly, no reliance should be placed on such estimated valuations and they should only be taken as an indicative guide. Other risk factors which may be relevant to the NAV figure are set out in the Company's Prospectus dated 26 January 2015.

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October 05, 2021 02:00 ET (06:00 GMT)