Baker Steel Resources Trust Ltd Net Asset Value(s) (8126H)
05 Agosto 2019 - 1:00AM
UK Regulatory
TIDMBSRT
RNS Number : 8126H
Baker Steel Resources Trust Ltd
05 August 2019
BAKER STEEL RESOURCES TRUST LIMITED
(Incorporated in Guernsey with registered number 51576 under the
provisions of The Companies (Guernsey) Law, 2008 as amended)
5 August 2019
31 July 2019 Unaudited NAV Statement
Net Asset Value
Baker Steel Resources Trust Limited (the "Company") announces
its unaudited net asset value per share at 31 July 2019:
Net asset value per Ordinary Share: 68.4 pence
The NAV per share has increased by 2.4 % against the NAV at 28
June 2019, primarily due to the fall in the value of Sterling
against the US Dollar and Australian Dollar in which much of the
portfolio is denominated.
The Company has a total of 106,462,502 Ordinary Shares in issue
with a further 700,000 shares held in treasury as at 31 July
2019.
Portfolio Update
The Company's top 12 investments are as follows as a percentage
of NAV:
Futura Resources Ltd 17.5%
Bilboes Gold Limited 14.9%
Polymetal International Plc 14.0%
Cemos Group plc 11.0%
Polar Acquisition Ltd 9.3%
Sarmin Minerals Exploration 5.0%
Mines & Metal Trading Peru PLC 4.5%
Anglo Saxony Mining Limited 4.0%
Black Pearl Limited Partnership 3.9%
Ivanhoe Mines Ltd 3.5%
Nussir ASA 3.1%
Prism Diversified Ltd 3.1%
Other Investments 3.1%
Net Cash, Equivalents and Accruals 3.1%
Investment Update
Polymetal International PLC ("Polymetal")
On 24 July 2019, Polymetal announced that it had produced
756,000 gold equivalent ounces in the first half of 2019 up 22% on
the first half of 2018. This was largely due to the ramp of the
Kyzyl mine which produced at full capacity of 81,000 ounces of gold
in the second quarter of 2019.
Polymetal's production is usually higher in the second half due
to seasonal de-stockpiling at the Mayskoye mine and it has
reiterated its 2019 full year production guidance of 1.55 million
gold equivalent ounces and its all-in sustaining cost guidance of
US$800-850 per gold equivalent ounce.
Polymetal's shares have risen 21% on the London Stock Exchange
since the beginning of 2019.
Further details of the Company and its investments are available
on the Company's website www.bakersteelresourcestrust.com
Enquiries:
Baker Steel Resources Trust Limited +44 20 7389 8237
Francis Johnstone
Trevor Steel
Numis Securities Limited +44 20 7260 1000
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NAVZMGGRVZNGLZM
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August 05, 2019 02:00 ET (06:00 GMT)
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