What does Baker Steel do?
Baker Steel Resources Trust Ltd (LON:BSRT) invests in mining and commodity assets worldwide. The company has particular experience and a track record of success in investing in Russia and the Former Soviet Union.
How it's doing
The coronavirus temporarily knocked the Baker Steel Resources Trust Limited share price sideways in the early part of 2020, but most of the lost ground has been made up and the shares are once more hitting five year highs.
The net asset value per share rang in at 75.5p as at 31 July 2020, down by just over 2% on the June number, as the impact of strength in the price of sterling offset upward moves in precious metals prices.
Sterling rose over 6% against the US dollar during the period. However, the effect of strong precious metals prices was felt, and there were strong rises in the listed precious metals portion of the portfolio which rose approximately 28% during the month.
The Companys top investments as a percentage of NAV at 31 July 2020 were Bilboes Gold Ltd, Futura Resources Ltd, Polar Acquisition Ltd, Cemos Group PLC, Tungsten West Ltd, Anglo Saxony Mining Ltd, Azarga Metals Corp, Nussir ASA, Mines & Metals Trading Peru PLC, Black Pearl Ltd Partnership, Sarmin Minerals Exploration, and PRISM Diversified.
The company also held 1.6% of its portfolio in cash and accruals.
Baker Steel also highlighted record monthly sales of cement by Cemos Group. Cemos is targeting 200,000 tonnes in cement sales and approximately €25mln in revenue for 2020, an increase of more than 60% over 2019.
Blue Sky
Baker Steel takes a longer-term view on commodity prices.
For instance, the company has some exposure to copper through its investment in Nussir, which is moving forward with a definitive feasibility study on its Nussir/Ulveryggen copper project in Norway, and sentiment towards the metal might take a short-termRead More – Source
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