Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Baker Steel Resources Trust notes completion of Prognoz sale to Polymetal

Polar intends to distribute the Polymetal shares received from Prognoz to its shareholders, of which Baker Steel is one of the most significant
silver bars
Prognoz is a silver mine

Polar Acquisition Limited has completed the sale of its stake in the Prognoz silver mine in Russia to Polymetal International PLC (LON:POLY).

The consideration was US$72mln in Polymetal shares for the 45% stake, though volatility in the share of the Russian miner has since seen the current value drop to US$59.4mln.

Polar is one of the most significant investments held by Baker Steel Resources Investment Trust (LON:BSRT), which cautioned the volatility in the Polymetal share price will have an impact on the trust’s published NAV.

Over the past year, shares in Polymetal have traded between £10.95 and £5.91.

Polar intends to distribute the Polymetal shares received from Prognoz to its shareholders.

View full BSRT profile View Profile

Baker Steel Resources Trust Timeline

Related Articles

Miner
June 26 2018
The mineral resources investor thinks the macroeconomic environment is favourable to the mining sector. It has four investments that over the next 18 months or so could see it repeat the success it had with its investment in the Prognoz silver project in Russia.
Ship
July 12 2018
There’s a good chance one (or all) might end up being the future for Braveheart.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use