You are here

Prices & Quotes - UK Markets - BlackRock World Mining Trust (BRWM)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 644.00p
Change Today:
1.00p
Market Cap:
1,183.36m
Sector:
Equity Investment Instruments

BlackRock forms non-binding agreement on royalty investment

Date: Tuesday 08 Oct 2013

LONDON (ShareCast) - BlackRock World Mining Trust announced that is has formed a non-binding agreement on the key commercial terms of a royalty investment.

The deal, which has been formed with Avanco Resources, relates to a $12m net smelter return investment on Avanco's whole licensed area in Carajas, Brazil.

It offers BlackRock a 25% royalty payment on gold production and 2% on production of other metals including copper produced from the whole licensed area of Stage 1 and Stage 2. A flat 2% royalty will be applied to all other projects from the rest of Avanco's licensed area.

The group said the two companies are set to begin work on agreeing the heads of terms for the investment, after which they will sign the definitive legal documentation, which is expected to complete by the year-end.

BlackRock said: "Whilst a relatively small investment for the company and early stage in terms of the profile of the Avanco mine development in Brazil, the board believes that this investment offers an attractive addition to the investment portfolio as it expands by size and diversifies by assets the company's existing royalty holdings.

"This transaction would bring total unquoted investments within the company's portfolio to a pro forma aggregate percentage of 9.15% of gross assets (as at October 4th 2013)."

The group added that it continues to view royalties as "an attractive method of accessing mining revenues and achieving direct long term commodity price exposure whilst stripping out cost inflation".

NR

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BRWM Market Data

Currency UK Pounds
Price 644.00p
Change Today 1.00p
52 Week High 691.00p
52 Week Low 350.00p
Volume 67,518
Shares Issued 183.75m
Market Cap 1,183.36m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
Not Available
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Income
Not Available
Growth
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. half market star
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. half sector star
Price Chg 6m
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
P/E
Not Available
PEG
Not Available
Dividend Yield
Not Available
EPS Growth
Not Available
Operating Margin
Not Available

BRWM Dividends

  Latest Previous
  Q1 Q4
Ex-Div 27-May-21 18-Mar-21
Paid 25-Jun-21 06-May-21
Amount 4.50p 8.30p

Trades for 15-Jun-2021

Time Volume / Share Price
10:06 310 @ 644.86p
10:04 2,300 @ 644.86p
10:03 769 @ 644.86p
10:03 20 @ 644.98p
10:02 308 @ 644.86p

BRWM Key Personnel

Chair David Cheyne