Baker Steel Resources Trust Ltd. (BSRT)

Sector:

Investment Firms

Index:

FTSE Fledgling

 62.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 67.25
  • 52 Week Low: 43.80
  • Currency: UK Pounds
  • Shares Issued: 116.12m
  • Volume: 19,834
  • Market Cap: £72.28m

Baker Steel Resources' largest investment offloads Russian silver mine

By Iain Gilbert

Date: Monday 19 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Guernsey-based investment company Baker Steel Resources advised investors that Polar Acquisitions (PAL), its largest investment, has agreed to sell its interest in the Prognoz silver mine in Russia to its Channel Island neighbour, Jersey-based Polymetal International, in a deal worth more than $70m.
After selling a 10% stake in PAL to Polymetal back in January 2017, the group decided to pick up the remaining 90% for a total of $72m following a successful field season.

In order to retain exposure to Prognoz going forward, including the attractive exploration potential, PAL was set to collect a royalty of around 2% to 4% on future production from the mine.

"Taking into account the value of the Polymetal shares to be received by PAL and the valuation of the royalty, the Company's carrying value of PAL can be expected to increase to approximately $41m at the next NAV date, a 25% increase on the carrying value at 31 January 2018," Baker said in its Monday morning update.

Baker Steel invested a total of $14.2m into PAL since 2011, realising $6m in cash during 2017, resulting in a return on investment of more than 3 times.

As of 1040 GMT, shares had gained 4.17% to 50.00p.

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BSRT Market Data

Currency UK Pounds
Share Price 62.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 67.25
52 Week Low 43.80
Volume 19,834
Shares Issued 116.12m
Market Cap £72.28m

BSRT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.65% above the market average6.65% above the market average6.65% above the market average6.65% above the market average6.65% above the market average
13.43% below the sector average13.43% below the sector average13.43% below the sector average13.43% below the sector average13.43% below the sector average
Price Trend
74.17% above the market average74.17% above the market average74.17% above the market average74.17% above the market average74.17% above the market average
83.93% above the sector average83.93% above the sector average83.93% above the sector average83.93% above the sector average83.93% above the sector average
Income Not Available
Growth
85.45% below the market average85.45% below the market average85.45% below the market average85.45% below the market average85.45% below the market average
79.82% below the sector average79.82% below the sector average79.82% below the sector average79.82% below the sector average79.82% below the sector average

BSRT Dividends

No dividends found

Trades for 30-Oct-2020

Time Volume / Share Price
16:28 19,834 @ 60.50p

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