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5 Oct 2021 07:00
BAKER STEEL RESOURCES TRUST LIMITED
(Incorporated in Guernsey with registered number 51576 under the provisions of The Companies (Guernsey) Law, 2008 as amended)
5 October 2021
30 September 2021 Unaudited NAV Statement
Net Asset Value
Baker Steel Resources Trust Limited (the "Company") announces its unaudited net asset value per share at 30 September 2021:
Net asset value per Ordinary Share: 97.0 pence
The NAV per share has increased by 0.4% against the unaudited NAV at 31 August 2021, mainly due to the decrease of Sterling against the US Dollar.
The Company had a total of 106,462,502 Ordinary Shares in issue with a further 700,000 shares held in treasury as at 30 September 2021.
Investment Update
The Company's top 12 investments were as follows as a percentage of NAV:
| 30 September 2021 | 31 December 2020 |
Bilboes Gold Limited | 19.7% | 19.5% |
Futura Resources Ltd | 16.1% | 16.2% |
Tungsten West Limited | 15.7% | 13.2% |
Cemos Group plc | 13.9% | 14.5% |
Polar Acquisition Ltd | 8.9% | 8.9% |
First Tin Ltd | 5.2% | 3.9% |
Mines & Metals Trading Peru PLC/Silver X Mining Corporation | 4.2% | 4.5% |
Nussir ASA | 4.0% | 3.4% |
Kanga Potash | 2.7% | 2.7% |
Azarga Metals Corp | 2.5% | 2.7% |
Prism Diversified | 1.6% | 1.5% |
Metals Exploration plc | 1.5% | 1.9% |
Listed Precious Metal Shares | 1.8% | 3.9% |
Other Investments | 1.9% | 2.4% |
Net Cash, Equivalents and Accruals | 0.4% | 0.8% |
First Tin Limited ("First Tin") (formerly Anglo Saxony Mining Limited)
Anglo Saxony Mining Limited has changed its name to First Tin to reflect its ambitions to become a significant tin producer from sources in the First World. It currently owns the Tellerhäuser project and the Gottesberg project near Freiberg in Saxony, Germany and is negotiating to acquire a third advanced tin project.
First Tin has also appointed Dr. Thomas Bünger as its Chief Executive Officer. Dr Bünger is a metallurgist joining First Tin from Europe's largest copper and tin refiner, Aurubis AG, where he was Chief Operating Officer, Chief Technical Officer and executive board member responsible for all group operations and 4,000 employees. First Tin is planning an IPO in 2021.
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 JohnstoneTrevor 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.
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