Blackrock World Mining Share Discussion Threads

[podgyted] 11/10/2020 10:05

The exposure to some of the world's biggest gold miners/royalty/streamers is also a positive IMO.

[dope007] 23/9/2020 10:44

Just bought into this for exposure to mining. Prefer this to picking individual stocks in this sector as I do see another mining boom over the next few years as all this green infrastructure is going to need building, along with all the batteries and control electronics etc, etc

[poikka] 18/9/2020 14:15

Now 37% gold.

[poikka] 18/9/2020 08:42

But, right now, I'm mainly holding because of their 40% gold holding, plus Wheaton (silver exposure).

[poikka] 17/9/2020 10:16

Vale has started paying divis again.

[davebowler] 16/9/2020 13:26

Interesting article HTTps://m.miningweekly.com/article/platinums-new-sweeter-spot-elicits-multiplicity-of-optimistic-analyst-views-2020-09-14

[uapatel] 16/9/2020 11:40

NAV still on the rise, wonder when the share price will start to catch up a bit.

[gateside] 12/9/2020 11:22

BERI is on a similar discount too.

[podgyted] 12/9/2020 11:15

Strange - my estimate of NAV is now 487p - discount now over 15% which seems crazy for an IT holding some of the most liquid shares on the planet.

[spangle93] 25/8/2020 18:29

Short summary
Numis likes it, Investec doesn't

[madengland_] 24/8/2020 12:29

Hmm not sure I suggest we are..... where did you read that in my post?

[poikka] 21/8/2020 15:19

I doubt we'll get another 30% in 3 months, but admire your optimism.

[madengland_] 21/8/2020 10:30

Depends if the gains are done.....Agree about IC though

[poikka] 21/8/2020 10:06

That is so typical of IC: pushing a stock after the big gains have already been made. Ditched the rag years ago, and have done much better since.

[davebowler] 21/8/2020 09:48

Tipped in the Investors Chronicle today -
...A way of getting some gold exposure but at a significant discount is via BlackRock World Mining Trust (BRWM), which had a 34 per cent allocation to gold stocks and bonds at the end of June. The trust holds the likes of Newmont Mining, Barrick Gold, Wheaton Precious Metals and gold-focused royalty specialist Franco Nevada – all of which have made strong gains this year.

Commodities can be notoriously volatile, but the trust's shares traded on a 10.9 per cent discount to net asset value (NAV) on 18 August, with a 5.3 per cent dividend yield. While there is no certainty this dividend will be maintained, so far this year the board has paid its first half-year dividend of 4p a share, in line with last year, and stated its intention to continue this for the next two quarters...

[davebowler] 20/8/2020 08:54

Stifel;
BlackRock World Mining - NAV benefit from tax reclaim
Adjustment: The Trust is pleased to announce a positive adjustment of 31 basis points to the
NAV as at 18/08/20 due to the recognition of an expected receipt of tax reclaims for a value of
£2,560,568 on foreign income in the Company’s accounts.
BlackRock World Mining - interims to 30/06/20; H1 dividend maintained
Stifel View: Given the market background, it was good to see the NAVTR actually going up
over H1 2020, with this also being well ahead of the reference index. There was quite a sharp
fall in the revenue EPS, which was down -23% over H1, reflecting lower dividends receivable.
Despite this, the H1 total dividend was 8.0p, which was maintained at the same level as in
2019. The board do not make a forecast for the full year dividend to 31/12/20. However, last
year there was 3.8p of revenue that reflected special dividends, whilst this year the income
from special dividends has fallen significantly. Last year's total dividend was 22.0p, but the trust
does not have a progressive dividend policy, so clearly the dividend paid could be reduced in
2020. However, even if it was cut to 18p, for example, the dividend yield remains a relatively
high 4.3% and the shares offer reasonable value on a c.12% discount. We maintain a Positive
recommendation. (Analyst: Iain Scouller)
Performance: The NAV TR was +3.4% and the share price +3.7%. The Company’s reference
index, the MSCI ACWI Metals & Mining 30% Buffer 10/40 Index (MSCI ACWI) returned -0.7%.
The Company’s strong relative result compared with most other sectors has been as a result
of its exposure to highly cash generative companies such as iron ore producers, as well as to
gold miners which have continued to sell production at gradually rising prices.
Revenue: Earnings amounted to 8.8p (H1 2019: 11.4p), a decrease of -22.8%. Only four
special dividends totalling £330,000 were received in the period under review, whilst six special
dividends totalling £10.2 million were received during the corresponding six-month period in
2019. Some of the mining companies in the Company’s portfolio are well-positioned on the
dividend front, given their balance sheet strength and free cash flow generation.
Dividends: A first quarterly dividend of 4.0p was paid (2019: Xp) was paid second quarterly
dividend of 4.0p will be paid on 25/09/20, ex-dividend date 27/08/20.
Leverage: At 30/06/20 leverage was 9.8% and maximum leverage during the period was
15.6%......
BlackRock World Mining…continued
Outlook: The manager says "Unlike in previous periods of economic disruption, the mining sector has
fared much better largely due to the time spent rebuilding the businesses post the 2015 low. With first
half results highlighting the strong cash flows and decent yields, there is the prospect that those
investors looking for quality equity income investments rotate into the resources sector allowing the
consensus underweight positions to reduce. If this happens, the shares are likely to rerate towards
historic multiples delivering material upside from current levels.
Historic data shows that the largest and most consistent contributor to total shareholder returns in the
mining sector comes from dividends. With this in mind, it is the aim of the Company to maximise the
opportunities to enhance the yield of the portfolio to allow the Company to deliver a superior total return
for its shareholders through the cycle."

[podgyted] 17/8/2020 22:25

Estimate NAV (inc income) of 475p giving a discount of 12.5%.

NA goldies went berserk - Barrick up 11% and Newmont up 7% - should be a catch-up day tomorrow.

[madengland_] 17/8/2020 16:51

Lol I'm sure good luck. Think the miners will do well for a while yet

[poikka] 17/8/2020 15:24

Oh hello, Warren Buffet's bought 21m shares in Barrick Gold. Probably heard that I was big in gold.

[madengland_] 17/8/2020 14:57

If you fancy a punt on something a bit riskier with decent potential upside, amc is worth a look. Certainly comes with risk though but could do very well

[masurenguy] 17/8/2020 09:03

Discount to NAV still circa 10%.