Cqs Natural Resources Gr... Share Discussion Threads

[brucie5] 12/10/2009 17:16

Dear, oh dear; there doesn't seem to be a good opportunity to pick these up.. Except the day before yesterday..!

[washbrook] 12/10/2009 17:03

All major currencies down against gold today except Canada.

[washbrook] 12/10/2009 12:41

City Natural Res High Yield Tst (CYN:LSE) set a new 52-week high during today's trading session when it reached 182.00. Over this period, the share price is up 90.53%.
UPDATED close 186p 52 week high is up 95.52%

[washbrook] 09/10/2009 12:21

UPDATED 30.9.09
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MANAGER COMMENT
Last month we highlighted the attractions of the rare earths sector, little imagining that within the space of a month it would engender huge worldwide interest with the most exciting of the Trust's investments proving to be Lynas. The Australian Foreign Investment Review Board vetoed the Chinese attempt to gain control of the company but within a week of their decision, enough alternative funding was raised to enable the announcement that enough money was available to proceed into production. Existing shareholders were offered new stock on a one for one basis at 45 cents and with the shares trading at 67.5 cents at month end; this is one of the Trust's largest holdings. Also in the largest holdings list are the shares of Neo Material Technologies. This is one of the world's largest processors of heavy rare earths which it buys mainly in China and distributes throughout the world. This Company is an absolute leader in its field and we are very optimistic about its prospects. The gold price continued to strengthen and would appear to have consolidated at the US$1000 level. It might be considered somewhat disingenuous if we did not mention the fact that the gold price is measured in US dollars, but to a Canadian or Australian producer the price has hardly been exciting. Perhaps to put the situation in a clearer perspective, the Australian and Canadian dollars at 1.81 and 1.71, respectively, against the pound are the better part of a full dollar stronger against sterling than was the case two and a half years ago. We are often asked whether the Trust hedges its positions but as we have taken the view that the UK currency will continue to have a rocky ride, we are more than happy to take that risk on board. It was another memorable month for the Trust with the asset value rising through the 200p level, accompanied by a useful rise in the share price.
All market data has been sourced from Bloomberg
----------------------------------------TOP 20 HOLDINGS
Gross Assets
(%)
1. Extract Resources 8.1
2. Kalahari Minerals 6.2
3. Goldcorp 4.6
4. REA Ordinary and 9.5% Pref 2.7
5. New Britain Palm Oil 2.6
6. Kiwara 2.5
7. FMG Finance 9.75% 2013 2.3
8. Horizon Oil 1.8
9. Randgold Resources 1.8
10. New Gold Inc 1.6
Top 10 holdings represent 34.2%

11. Neo Material Tech 1.5
12. Great Panther 1.5
13. Polar Star 1.4
14. Lynas Corp Ltd 1.4(
15. Mercator 11.50% 2012 1.3
16. Nido Petroleum 1.2
17. AMI 2013 10% Cv 1.2
18. Iamgold Corp 1.2
19. Lihir Gold 1.2
20. Uranium Limited 1.2
Top 20 holdings represent 47.3%
-----------------------------------

[washbrook] 07/10/2009 13:35

-----------------------------------------
2 Stocks outperforming the market.
BRLA=Blackrock Latin America I.T
cyn=City Natural Resouces High Yield Trust
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CLICK GRAPH TO ENLARGE

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http://www.blackrock.co.uk/content/groups/uksite

[strollingmolby] 07/10/2009 12:20

Thanks, washbrook - that's extremely useful.

[washbrook] 07/10/2009 12:02

I have compiled a table-
Gold in US $
British £
Japanese yen
Australian $
Canadian $
Euro
The table started on 30.12.2008 and the figures are worked on the Friday closing Fix on the London Market.
Since 2.10.09 Friday the table is updated daily.


I have looked in vain on the internet for a similar table but in vain may this help someone.

Notice the highs at the top of the table( Second Half)The ony currency making a new high is the US$.

[washbrook] 25/9/2009 10:42

@10.11hours
GOLD 997.4 +0.13%

Sterling Gold 622.86

US$ index 76.752 -0.16%

[washbrook] 23/9/2009 07:51

US DOLLAR INDEX(NYBOT:DX 75.892 new 12 month low.
-----------------
GOLD SPOT
High 1017.89 Low 1013.95
current 1014.02(7.58hours)

[washbrook] 22/9/2009 11:08

GOLD @11.04hrs=$1016.8per oz
---------------
US $ index 76.113 close to it's 12 months low at 76.01

[washbrook] 22/9/2009 08:37

GOLD @8.37 am=$1011.6per oz
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US $ index 76.348 weakening.

[washbrook] 22/9/2009 07:31

Gold opens @$1007 per oz. The US $ index weak.

[tangosaurus] 20/9/2009 11:13

Interesting new article on rare earths on the miningweekly.com site. This is defintely one areas that's going to take off over next few years.

[washbrook] 18/9/2009 08:35

Looking at the NAV of BRWM for the 16.9.09 I have calculated the NAV of CYN & this is only a guesstimate at 212p, therefore at 170p on a discount of 19.8%
note :Sharescope has it at 208p(they usually lag)

[etarip] 17/9/2009 13:14

An interesting interview:

[tangosaurus] 17/9/2009 10:47

This one looks rock solid to me, with a good balance in uranium, gold, copper and now rare earths. I see the discount narrowing over next few months so i'm in for the medium term.

[jonnyboy1] 17/9/2009 09:33

Hi Washbrook,

Thanks for the comment, it has been a classic six months which makes up somewhat for the preceeding six. I have been giving a chunk of profits to family who lost money and then panicked sold on stocks i advised. Never again.

Volatility of the NAV is smoothed somewhat by the bonds they hold although many of these are convertible so are a great attraction of the fund to me. The NAV is up to 206 and i am not sure how much this reflects the changes to holdings.

So we are still running at circa 20% discount which is madness but nice if you are buying

I have been expecting a pull back but it is failing to materilise. I am sure it will come and bite me though!