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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Cosmo Sturge
IR Associate
Francis Johnstone
Investment Adviser to BSRT
Trevor Steel
Chief Investment Officer and Managing Partner
% | 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 |
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.
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