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Baker Steel Resources Trust Ltd on Friday posted strong monthly gains in its net asset value per share, as its portfolio reaped the rewards of firmer commodity prices. Shares in the investor in mining companies climbed 11% to 106.00 pence on Friday afternoon in London. NAV per share rose 12% to 16.2 pence at January 30 from 16.2p at December 31, as ‘strong’ commodity prices helped lift the share prices of its listed portfolio companies. The trust noted that January saw ‘significant’ price fluctuations in commodities, with gold and silver reaching all-time highs. Whilst there was a ‘sharp correction’ towards the end of the month, Baker Steel said both these precious metals ended 13% and 19% higher respectively in dollar terms. ‘Although significantly higher during the month, the company’s precious metals share prices in Silver X, Caledonia and Metals X were still up 8%, 5% and 1% respectively by the end of the month,’ said Baker Steel. The investment trust said the three largest contributors to its January NAV were Blue Moon Metals Inc, First Tin PLC and TTungsten West PLC. Baker Steel noted all three of their respective commodities of focus were up during January, ‘The parabolic rise in gold and silver prices could not continue forever and they are due a period of consolidation. We expect the precious metal prices to remain volatile in the short term but the recent pullback may present a window of opportunity for long-term investors seeking wealth protection to build positions,’ said Trevor Steel, chief investment officer of the investment manager, Baker Steel Capital Managers LLP. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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