Blackrock World Mining Share Discussion Threads

[masurenguy] 29/4/2021 09:02

The rise continues 😎

[pob69] 24/4/2021 13:28

Positive investment summary

[masurenguy] 16/4/2021 15:48

Interesting times !

"The Company has a very large exposure to copper which represented 19.2% of the
portfolio at the year-end and was the key driver of performance in 2020." BRWM: 4 March 21.

"Copper price scales $9,000 after Goldman calls it the new oil." Market Insider. 14 April 21

[madengland_] 08/4/2021 08:04

Looks like 600p is going going gone

[madengland_] 18/3/2021 12:10

Tempus possibly a bit late to the table with a recommendation? Long term good fund in a sector with potential, but luring retail investors in at this entry point? Hmmm got to question that one. Somewhere above but close to 500p with a small discount to nav and a little more visibility of post Covid world. More ducks need to line up to carry this higher. Frothy at present imo

[masurenguy] 16/3/2021 01:03

BlackRock World Mining looks on solid ground
Tempus: 16 March

There are several characteristics that make its investment approach distinctive. As well as listed and privately held businesses, the trust can also take positions in physical metals. On occasion it leverages its positions in companies by buying bonds and debentures, or even royalties that give it a share of the income stream from specific mines. It has done this with iron ore deposits operated by Vale, the Brazilian mining group whose shares it also owns, and OZ Minerals, based in Australia.

The net result of its investment principles is a portfolio that looks both diversified and exposed at the same time. As at the end of January just under 39% of the portfolio was held in diversified miners, producers of all of the main commodities that spread the positions pretty evenly. At the same time, the gold sector accounts for 24.7% of the portfolio and copper 18.5%. BlackRock World Mining’s assets returned 31.8% over the year, way ahead of its reference index, which delivered a gain of 20.6%. The FTSE All share lost 9.8% over the period. Not only has it beaten the index over one year, it has outpaced it over 3 and 5 years. While performance slipped in January, the trust still performed better than the benchmark.

Advice: Buy.
Attractively positioned portfolio should benefit from commodities gains and miners’ bumper dividends

Complete article here:

[kenmitch] 12/3/2021 17:45

Hi Brucie

I agree it’s probably not too late to buy and in previous reply said there could well be further substantial gains to come. It’s just that THE fabulous buy opportunity has gone. I also hold BMN but it’s more of a punt than the others. And I hold SLP not included in the previous reply, and the 3 Trusts as well as CAML, FXPO and EVR. I went for smaller stakes across the board as was so convinced the sector was far too low, rather than full stakes in just a couple.

[brucie5] 12/3/2021 16:41

Thanks Ken. I hold several of those, as well as JLP and BMN. Added today to my holdings in FXPO and APF. Though about RIO but for some reason didn't push the buy button.

If we're in a commodities supercycle, with strong possibility of inflation, I'm far from convinced that that it's too late to be buying.

But as always, I'm interested to hear your view.

Respect.

B5.

[kenmitch] 12/3/2021 16:31

Brucie5

My thinking fwiw is that now is a bit late to be buying in to the Mining sector. There could well be further possibly substantial gains, but the gains have already been huge and the fab big buy opportunity has gone. Even so RIO is well worth considering.Good chance of dividend increase too.

The 3 main Investment Trusts CYN, BERI and BRWM have all doubled or more since this time last year. So CYN dividend now 4.3% was 8.6% a year ago. Ditto BRWM just 3.4% now and 7% then and BERI 4.3% now and then 8.5%. BRWM discount has gone but BERI still 6% and CYN (less mainstream) 15%. Hard to choose the best of the 3 but BRWM is a good way in to a bit of RIO and BHP, their two largest holdings.

EVRAZ (Stockopedia 98) 597p divi 8.9% is worth a look. But again it’s up 150% in a year 600% over 5 years. Still even after the big gains a big dividend. It’s just gone ex dividend unfortunately.

FXPO 353p(Stockopedia 98) Dividend 6.8% excluding frequent specials. Results and perhaps another special, next week. But up 300% since this time last year and multi bagger over 5 years.

CAML 256p (Stockopedia 94) Results soon. Dividend 4.74%. Possible increase. But yet again has doubled since this time last year.

The gains show why though liking the likes of JAY too it’s best not to lift other gift horses in the mouth while waiting endlessly for progress from early stage Miners and early stage shares in general. For some reason a lot of private investors are addicted to hope shares.

This applies to shares like EDEN. Fans have been certain of real progress for around 20 years. They miss a lot of MUCH better investment opportunities while waiting and don’t seem to realise that even FTSE100 shares and also Investment Trusts can, and do, multi bag. And some posters on such shares (not you Brucie!) won’t tolerate a word said against them.

Sorry this reply isn’t much use and is off topic, but the few readers of this thread might see something that looks worth checking out, or thinking about.

[madengland_] 12/3/2021 14:02

I sold here and went APF on the belief it has some serious catching up to do, a great yield and some sound strategic intentions. I will add back here I'd imagine. With Biden stimulating and the rest of the world coming out of Covid I do like this long term but believe it's over priced as of today. Just an opinion wtfdik and all that

[brucie5] 12/3/2021 12:35

Thanks Ken. I'm thinking of decamping some in my income folio to catch the larger yields in discrete miners. RIO a case in point at 8%. But also APF, at over 6%. The advantage of holding BRWM has been that I haven't had to worry about holding it through the lows.

What's your thinking?

[kenmitch] 12/3/2021 12:22

Brucie5

The dividend is “miserly” for those looking to buy now. It was not miserly before the share price soared. The Investment Trust portfolio on Mike Walters website bought BRWM for just 220p just after the lows of the extreme Mining Bear market. At that price the dividend yield even after the cut for the Final from 10p to 8.3p would still be 8.5%.



S

So BRWM no longer has the bonus plus of a very big yield. And the big discount to NAV has gone too, along with obvious strong buy opportunities.

BRWM explained the reason for the cut. It was far fewer special dividends from their invested Companies. With Mining Sector booming now there’s a very good chance of dividend increases ahead.

[poikka] 12/3/2021 12:21

Bit of a lengthy read, but worth the time, imo.

Holders of miners have made good profits recently, capital growth and divis, so I wouldn't be surprised at profit taking; I took some here myself not long ago.

I'm never really surprised at any sudden changes in outlook, but other than an unexpected slowdown in recovery from covid, I struggle to see why demand should fall by much, if at all.

The story about China telling steel mills to shut because of pollution seems to me to be more propaganda than anything; steel still has to be produced.

Only thing I'd say is that with BRWM reducing the divi, they've taken away a reason for holding these rather than investing directly in the miners.

[brucie5] 12/3/2021 11:51

No dividend shown on Stocko for this, which is odd. Just reviewing their March statement, the total proposed dividend, down 7% on the year, is 20p, which makes it a miserly yield of c. 3.3% doesn't it? Seems fairly low for a booming sector with big cashflows.

But I'm not complaining at the value added.

[poikka] 12/3/2021 09:02

Be kinda odd if it didn't respond in kind.

I see Wheaton's increased its divi by some 30%. Nice, but then its share price is down some 20% over the year :(.

This super-cycle stuff the financial press bang on about: I don't know about that, but it does seem as if the price of IO and Copper, at least, will hold up well given the supply and demand picture.

China really has to keep constructing, and the RoW will do much the same for the immediate future. Plus the catch-up as the virus eases and life returns to some sort of normality. Then there's the cost-cutting that took place some years ago. Margins are brilliant and production can't be increased quickly.

I see the same happening to big oil.

So commodities aren't really something to be out of - IMHO

[korvet] 11/3/2021 15:20

Apparently we are at the start of a commodities super cycle upwards so the feeling is this will respond in kind. K

[korvet] 11/3/2021 14:41

Apparently we are at the start of a commodities super cycle upwards so the feeling is this will respond in kind. K

[madengland_] 11/3/2021 14:32

Quite surprised this is still trading at a premium to nav, any theories?

[spangle93] 05/3/2021 08:34

Didn't see the results issued at 8pm last night!



Contrary to your hopes, the final dividend is lower than last year's

The Board is proposing a final dividend payment of 8.30p per share for the year ended 31 December 2020. This, together with the quarterly interim dividends, makes a total of 20.30p per share (2019: 22.00p per share) representing a decrease of 7.7% on payments made in the previous financial year and, as in past years, all dividends are fully covered by income. In accordance with the Board’s stated policy, the total dividends represent substantially all of the year’s available income.

Subject to approval at the Annual General Meeting, the final dividend will be paid on 6 May 2021 to shareholders on the Company’s register on 19 March 2021, the ex-dividend date being 18 March 2021.

[poikka] 05/3/2021 08:11

That's a bit of a bummer, I'd forgotten that there were no SDs, nor had I realised that they include them in their divis, I thought they'd also be paid as Specials. Oh well, MYI lifted their divi.

[poikka] 03/3/2021 16:03

They certainly have been 'solid', guess we're all aware of that.

I'm guessing/hoping that they'll dish out the extras as a Special Dividend.

[spangle93] 03/3/2021 13:52

Just been listening to their presentation at Kepler Events - they said they were finalising figures so couldn't comment explicitly, but that dividends from their invested companies were very solid

[jong] 03/3/2021 13:09

Anyone know when BRWM are going to announce the next dividend ? Seems later this year than previous years ?

[jong] 02/3/2021 12:32

FXPO - very cash generative and expect some good dividends and special dividends over the next year.