18:00 Wed 06 Dec 2017
Baker Steel Res Tst - Net Asset Value(s)
(Incorporated in
Net Asset Value
Net asset value per Ordinary Share:
Since
The Company had a total of 116,139,980 Ordinary Shares in issue with a further 700,000 shares held in treasury as at 30 November 2017.
Portfolio Update
The Company's top 10 investments are as follows as a percentage of NAV:
|
30.2% |
|
Ivanhoe Mines Limited |
13.0% |
|
|
12.1% |
|
|
11.0% |
|
Metals Exploration plc |
6.7% |
|
|
5.1% |
|
|
4.5% |
|
|
4.2% |
|
Nussir ASA |
3.6% |
|
|
1.1% |
|
Other Investments |
1.2% |
|
|
7.3% |
|
|
|
|
Investment Update
Ivanhoe Mines Limited ("Ivanhoe")
On
The PEA states that an initial six million-tonne-per-annum copper mine at Kakula can be developed for an estimated
The PEA investigates the potential development of an initial six million-tonne-per-annum mine at Kakula at an average grade of 5.5% over a 24 year mine life producing an average annual production rate of 246,000 tonnes of copper. Mine site cash cost of
The 12 Mtpa expansion scenario would deliver average annual production of 370,000 tonnes of copper at a total cash cost of
The PEA does not include the Kakula West discovery which is currently being drilled and could form the basis for a further modular expansion to 18 million tonnes of ore per annum.
The results and studies on Kamoa-Kakula published over the past year have shown remarkable progress and demonstrate the project's potential to become one of the worlds top 5 copper mines.
Bilboes has completed a pre-feasibility study (PFS) on its Isabella-McCays-Bubi gold project in Matabeleland,
The PFS envisages a two phase open pit development at a pre-cash flow capital cost of
Bilboes is now moving forward with a bankable feasibility study for the project for which it is fully funded and is expected to be completed in early 2019. The robust economics of Bilboes's PFS suggest that the Isabella-McCays-Bubi gold project has the strong potential to become
Further details of the Company and its investments are available on the Company's website www.bakersteelresourcestrust.com
Enquiries:
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 is set out in the Company's Prospectus dated
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