City Natural Resources High Yield Trust PLC
|City Natural Resources High Yield Trust PLC|
|Active in||Australia, Namibia, Papua New Guinea, Guatemala, Canada|
|Targeted||base metals, coal, copper, precious metals, gold, silver|
CNRHY/City Natural Resources High Yield Trust PLC is a “closed-end” equity investment company, specialising in mining and natural resources. It is advised and managed by New City Investment Managers Ltd/NCIM (qv).
As of 30 June 2010, its top ten mining investments were in:
- Extract Resources (worth £7.2 million)
- Kalahari Minerals (£7.1m)
- Goldcorp (£4.1m)
- Perseus Mining (£3.9m)
- Polar Star Mining (£3.9m)
- Silver Wheaton (£2.7m)
- Great Panther Silver (£2.6m)
- First Quantum (£2.4m)
- Eldorado Gold (£2.4m)
- Iamgold Corp (£2.4m)
As of 30 June 2008, its ten largest mining investments were in:
- Goldcorp(worth £ 4 million)
- Extract Resources (£4 million)
- Gold Eagle Mines (3 million)
- Kalahari Minerals (£2.7 million)
- Riversdale Mining (£2.2 million)
- FMG Finance (£2 million)
- Albidon (£2 million)
- Pike River Coal (£1.9 million)
- Avoca Resources (£1.8 million)
- Kinross Gold (£1.8 million)
Between June 2008 and early 2009, CNRHY reduced its exposure to mineral exploration companies, concentrating on “small, emerging, producers” [MJ 13 March 2009]. At the end of January 2009, its main holdings were in:
- Goldcorp (6.1% of the trust’s assets)
- Extract Resources (5.3% of CNRHY assets)
- Kalahari Minerals plc (3%)
- Randgold Resources (2.5%)
As of December 2011,it held shares worth £7,797 million in Extract Resources (its single biggest investment) and ones worth £7,728 million in Kalahari Minerals (both uranium mining companies).
It also held £5,024 million of shares in Ausgold, and more than £3 million of stakes in each of Silver Wheaton, Extorre Gold Mines, Kingrose Mining and Coalspur Mines.
Among its other investments (at less than £3 million each )were those in: Perseus Mining, Fortuna Silver Mines, Detour Gold Mines, Rockgate Capital (uranium), Iluka Resources (titanium), Silver Lake Resources, Paladin Energy (uranium), Newcrest Mining and Integra Mining.
Its other mining-related investments include ones in Dannemora Minerals, Ferrous Resources (both iron ore outfits; Goldcorp (its stake having been reduced to only 1.1% of CNRHY assets since 2010); Great Western Minerals (rare earths); First Quantum Minerals (copper); New Gold; Endeavour Mining; Sandfire Resources; Equatorial Resources (iron ore); Minerals Despoits; Gryphon Minerals;Uranium Participation; IAMGOLD; Consolidated Minerals; Golden Close Marit; Patagonia Gold; Intrepid Mines; Osisko Mining; Kinross Gold; Great Panther Silver; Mountain Province Diamonds; Olympus Pacific Minerals; Saracen Mineral Holdings; and Union Minerals Group.