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<title>Baker Steel Resources Trust — News on 6ix</title>
<link>https://6ix.com/company/baker-steel-resources-trust</link>
<description>Latest news and press releases for Baker Steel Resources Trust on 6ix.</description>
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<item>
<title>Investment Update and 31 March 2026 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-31-march-2026-nav</link>
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<pubDate>Wed, 08 Apr 2026 06:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported an unaudited net asset value per share of 174.0 pence, totaling £183.9 million as of 31 March 2026, a slight decrease of 0.17% from the previous month, attributed to commodity market volatility impacting precious metals shares, though offset by strong performances from Blue Moon Metals and Tungsten West. The company continued its share buyback program, repurchasing 431,000 shares at an average price of 112.2 pence, bringing the total repurchased to 77</description>
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<title>Investment Update and 27 February 2026 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-27-february-2026-nav</link>
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<pubDate>Mon, 09 Mar 2026 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported an unaudited net asset value per share of 174.3 pence, totaling £185.0 million as of 27 February 2026, an increase of 14.5% from the previous month driven by a 69% rise in Tungsten West shares. The company also initiated a share buyback program, repurchasing 348,400 shares at an average price of 109.82 pence. Significant portfolio changes include Tungsten West's value increasing to £39.5 million (21.4% of NAV) following its equity raising to restart m</description>
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<title>TR-1: Notification of major holdings</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/tr-1-notification-of-major-holdings-72</link>
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<pubDate>Wed, 25 Feb 2026 07:00:00 GMT</pubDate>
<description>Baker Steel Capital Managers LLP, acting for discretionary clients and associated parties, has notified Tungsten West PLC of a change in major holdings. The notification, dated 24 February 2026, indicates an event changing the breakdown of voting rights. Baker Steel Resources Trust Ltd, based in Guernsey, now holds 10.80% of the voting rights, representing 116,089,707 shares, a decrease from their previous holding of 13.56%.
Disclaimer*</description>
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<item>
<title>Replacement -Transaction in Own Shares</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/replacement-transaction-in-own-shares-6</link>
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<pubDate>Wed, 18 Feb 2026 12:50:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announced an amendment to its previous transaction in own shares announcement, correcting the number of treasury shares held to 700,000. The company purchased 52,000 ordinary shares for cancellation on February 17, 2026, at an average price of 109.34p per share, with prices ranging from 109.05p to 109.39p. Following this transaction, the total issued share capital, excluding treasury shares, is 106,258,102, and including treasury shares, it is 106,958,102. The</description>
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<title>Share Buyback Programme</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/share-buyback-programme-14</link>
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<pubDate>Tue, 10 Feb 2026 07:05:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited has initiated a share buyback programme, authorizing its broker, Shore Capital, to purchase up to 15,958,729 ordinary shares on the market. Purchases will be capped at 105% of the average closing prices over the preceding five dealing days or the highest bid at the time of purchase. The programme, which commenced on February 10, 2026, will continue until the earlier of the expiration of the general authority, the maximum number of shares are acquired, or the p</description>
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<title>Investment Update Futura Resources</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-futura-resources</link>
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<pubDate>Tue, 10 Feb 2026 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announces that International Resources Holdings RSC LTD's option to acquire the Company's equity interest in Futura Resources has expired, as IRH was unable to consolidate coking coal mining operations. Futura, which has secured US$90 million in refinancing and benefits from increased coking coal prices now exceeding US$240/tonne, is well-positioned to independently progress its mines to full production. The Company holds a 24.1% equity interest in Futura and </description>
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<title>Investment Update and 30 January 2026 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-30-january-2026-nav</link>
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<pubDate>Fri, 06 Feb 2026 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported an unaudited net asset value per Ordinary Share of 152.2 pence as of 30 January 2026, representing a total NAV of £162.0 million and an increase of 11.9% from the previous month, driven by strong commodity prices and share price gains in its listed portfolio. Key contributors to this NAV growth included Blue Moon Metals Inc., First Tin PLC, and Tungsten West Plc, with Tungsten West's project NPV significantly increasing due to soaring tungsten and tin</description>
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<title>Edison issues report on Baker Steel Resources...</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/edison-issues-report-on-baker-steel-resources</link>
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<pubDate>Tue, 20 Jan 2026 12:52:00 GMT</pubDate>
<description>Baker Steel Resources Trust (BSRT) reported a strong 17.7% NAV total return in December 2025, driven by year-end adjustments to unlisted asset values, particularly the Bilboes Gold royalty, and positive performance from listed holdings like Silver X. This performance contributed to a 50% NAV total return for 2025, with broad portfolio contributions reducing the trust's weighting in its two largest holdings from 64.8% to 47.4% by year-end, despite positive developments in Futura Resources and Cem</description>
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<title>Investment Update and 31 December 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-31-december-2025-nav</link>
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<pubDate>Mon, 19 Jan 2026 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported a significant increase in its unaudited net asset value (NAV) per share, rising by 20.5p (17.7%) to 136.0 pence as of 31 December 2025, and a 51.6% increase over the year to £144.7 million. This growth was driven by strong commodity prices and positive developments in its portfolio, including an 83% surge in Silver X's share price and a 55% increase in the Bilboes Royalty valuation. Futura Resources secured US$90 million in Nordic Bond financing, remo</description>
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<title>Futura Completes US$90 million refinancing</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/futura-completes-usdollar90-million-refinancing</link>
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<pubDate>Mon, 22 Dec 2025 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announces that its second largest investment, Futura Resources Ltd, has successfully refinanced its debt through a US$90 million Nordic Bond with a 5-year maturity and a 13.125% coupon, which will fund remaining capital for mine production and repay all current indebtedness. Additionally, the Zimbabwe government has reconsidered its royalty rate increase for gold, now only applying the 10% royalty on revenue when gold prices exceed US$5,000 per ounce, a change</description>
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<item>
<title>Investment Update and 30 November 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-30-november-2025-nav</link>
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<pubDate>Thu, 04 Dec 2025 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported an unaudited Net Asset Value (NAV) per Ordinary Share of 115.5 pence as of 30 November 2025, representing a total NAV of £122.9 million, a 2.2% increase from the previous month primarily due to gains in Silver X Mining Corp and Blue Moon Metals Inc. The company had 106,462,502 Ordinary Shares in issue. A significant development involves Caledonia Mining Corporation's Bilboes Gold Project feasibility study, which indicates strong economic returns with </description>
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<title>Investment Update and 31 October 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-31-october-2025-nav</link>
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<pubDate>Tue, 11 Nov 2025 07:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported an unaudited Net Asset Value (NAV) per Ordinary Share of 113.0 pence as of 31 October 2025, with a total NAV of £120.3 million, representing a 1.5% increase from the previous month primarily due to gains in Tungsten West Plc and Blue Moon Metals Inc. The company had 106,462,502 Ordinary Shares in issue. Significant investment updates include Cemos Group plc commencing production from its new Compact Calcination Unit, Blue Moon Metals Inc entering an a</description>
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<title>Investment Update and 30 September 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-30-september-2025-nav</link>
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<pubDate>Tue, 07 Oct 2025 06:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announced its unaudited net asset value per share as at 30 September 2025 was 111.3 pence, with a total NAV of £118.5 million. This represents a 2.9% increase from the NAV at 29 August 2025, driven by rising share prices of Silver X, Metals Exploration and Caledonia Mining, alongside increases of 12% and 17% in the prices of gold and silver respectively. Partially offsetting this was a fall in Tungsten West Plc's share price, despite an 18% rise in the tungste</description>
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<title>Half-year Report</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/half-year-report-128</link>
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<pubDate>Tue, 30 Sep 2025 06:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited reported a positive first half of 2025, with its NAV increasing by 16.4% to 104.4 pence per share, compared to an 89.7 pence NAV at the end of 2024. The share price also rose by 11%. The company's net assets totaled £111.1 million, comprising £83.0 million in unquoted investments and £27.1 million in quoted investments. A net US$5.16 million was received in July from the divestment of the Prognoz silver royalty. Tungsten West moved up from 3.3% of NAV to 8.5%,</description>
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<title>Result of AGM</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/result-of-agm-236</link>
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<pubDate>Thu, 25 Sep 2025 08:36:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announced the results of its Annual General Meeting held on September 24, 2025. Resolutions 1 through 9 were passed with a majority exceeding 99%. However, special resolutions 10 and 11 failed to pass, receiving 72% in favor, short of the required 75% majority. The company noted that a late proxy vote, if received in time, would have resulted in both resolutions passing with 78% approval.
Disclaimer*</description>
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<title>Investment Update and 29 August 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-29-august-2025-nav</link>
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<pubDate>Thu, 04 Sep 2025 08:19:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announced an unaudited net asset value per share of 108.2 pence as of August 29, 2025, bringing the total NAV to £115.1 million. This represents a 1.0% increase from the NAV at July 31, 2025, driven by share price increases in Tungsten West Plc and Caledonia Mining Corporation Plc. Blue Moon Metals secured a financing package of up to US$140 million for its Nussir Copper Project, including a US$50 million senior secured term loan, a US$70 million precious meta</description>
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<title>Notice of AGM</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/notice-of-agm-108</link>
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<pubDate>Mon, 01 Sep 2025 06:00:00 GMT</pubDate>
<description>Baker Steel Resources Trust Limited announced that its Annual General Meeting (AGM) will take place on Wednesday, 24 September 2025, at 10:00 am. The meeting will be held at the company's registered office in Guernsey. Further details regarding the Company and its investments can be found on the Baker Steel Capital website.
Disclaimer*</description>
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<title>Investment Update and 31 July 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-31-july-2025-nav</link>
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<pubDate>Tue, 12 Aug 2025 06:00:00 GMT</pubDate>
<description>Investment Update and 31 July 2025 NAV.</description>
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<title>Investment Update and 30 June 2025 NAV</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/investment-update-and-30-june-2025-nav</link>
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<pubDate>Mon, 14 Jul 2025 06:00:00 GMT</pubDate>
<description>Investment Update and 30 June 2025 NAV.</description>
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<item>
<title>PAL - Sale of Prognoz Royalty Interest</title>
<link>https://6ix.com/company/baker-steel-resources-trust/news/pal-sale-of-prognoz-royalty-interest</link>
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<pubDate>Wed, 02 Jul 2025 06:00:00 GMT</pubDate>
<description>PAL - Sale of Prognoz Royalty Interest.</description>
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