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Baker Steel Resources Trust (LSE: BSRT)

Last close As at 02/07/2024

GBP0.53

— 0.00 (0.00%)

Market capitalisation

GBP59m

Baker Steel Resources Trust (BSRT) is a closed-ended investment company aiming to achieve long-term capital growth through investing in equity, loans and related instruments issued by private natural resources companies. It targets a global, concentrated portfolio of 10–20 investments. BSRT’s objective is to create value through driving the development of investee companies, as well as exploiting market inefficiencies and pricing anomalies.

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Investment Companies | audiovisual

Baker Steel Resources Trust in 60 seconds

Investment Companies | Review

Baker Steel Resources Trust — Potential to generate a 20%+ yield

Investment Companies | Flash note

Baker Steel Resources Trust — Strong revaluation boost from Futura

Investment Companies | edison tv

Executive interview: Discussing BSRT’s NAV and income potential
Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis
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Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Cosmo Sturge

    IR Associate

  • Francis Johnstone

    Investment Adviser to BSRT

  • Trevor Steel

    Chief Investment Officer and Managing Partner

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.2) 19.0 23.0
Relative (1.3) 14.3 11.0
52 week high/low 56.0p/33.5p

Overview

Baker Steel Resources Trust (BSRT) offers the potential for regular dividend and royalty income, as well as realisation proceeds, from its maturing portfolio of natural resources companies. Despite the multiple headwinds recently affecting junior mining projects, its largest holding (Futura Resources) was able to successfully close a financing round in September and advance one of its coking coal mines to production. Moreover, Cemos Group is eyeing the deployment of a second grinding line and clinker plant to significantly increase its earnings. Despite the recent share price rally, BSRT’s shares trade at a 33% discount to NAV.

Research

Update

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Baker Steel Resources Trust — NAV broadly flat in FY21 after strong FY20

Update

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Baker Steel Resources Trust — Several IPOs of portfolio projects on the horizon

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Review

Baker Steel Resources Trust — Adjusting to the new reality

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