Blackrock World Mining (BRWM)

Company name:	Blackrock World Mining Trust Plc
EPIC:	BRWM	Trading Currency:	GBX
Market Sector:	F25T	ISIN:	GB0005774855
Market Segment:	STMM	Share Type:	DE
WWW Address:		Description:	ORD 5P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Ask	Open	High	Low	Volume
393.50	3.5 [0.90]	391.00	393.00	392.50	393.50	390.00	388,896
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
688.68	175.01	0.21	18.15	18.00	21.68	4.57	396.00 - 330.00

Blackrock World Mining Key Figures

(at previous day's close)
Market Cap.	688.68	m
Shares In Issue	175.01	m
Prev. Close	390.00
PE Ratio	21.68
Dividend Yield	4.57	%
EPS - basic	18.15	p
Dividend PS	18.00	p
Dividend Cover	1.01
Cash Flow PS	32.81	p
Return On Equity (ROE)	4.67	%
Operating Margin	91.42	%
PEG Factor	1.55
EPS Growth Rate	14.01	%
Dividends PS Growth Rate	15.38	%
Net Debt	95.91	m
Gross Gearing	16.08	%
Quick Assets	38.48	m
Net Working Capital	-92.78	m
Intangibles / Fixed Assets	-	%
Turnover PS	21.82	p
Pre-Tax Profit PS	19.95	p
Retained Profit PS	2.57	p
Cash PS	20.28	p
Net Cash PS	-54.71	p
Net Tangible Asset Value PS *	391.74	p
Net Asset Value PS	388.81	p
Spread	2.00 (0.51%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Blackrock World Mining Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	393.50	377.50
4 weeks	393.50	366.50
12 weeks	393.50	338.50
1 year	396.00	330.00

Share Price Chart (5 years)

Blackrock World Mining Historic Returns

Giorni da oggi ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	380.00	13.50	3.55	377.50	0.40		386.30
4 weeks	370.00	23.50	6.35	366.50	0.36		381.93
12 weeks	345.50	48.00	13.89	338.50	0.44		361.64
26 weeks	386.50	7.00	1.81	330.00	0.38		359.14
1 year	358.00	35.50	9.92	330.00	0.35		360.22
3 years	366.50	27.00	7.37	307.50	0.35		366.05
5 years	309.80	83.70	27.02	157.50	0.42		311.51
† periods calculated are whole weeks rather than calendar months

Blackrock World Mining Key Management Ratios

Blackrock World Mining Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	1.93
PE Ratio	21.68
Tobin's Q Ratio	0.80
Tobin's Q Ratio (excl. intangibles)	0.80
Dividend Yield	4.57	%
Market-to-Book Ratio	1.00
Price-to-Pre-Tax Profit PS	19.72
Price-to-Retained Profit PS	153.38
Price-to-Cash Flow PS	11.99
Price-to-Sales PS	18.03
Price-to-Net Tangible Asset Value PS	1.01
Price-to-Cash PS	19.40
Net Working Capital PS	-53.01
Price Pct to Working Capital PS	-7.42	%
Earnings Yield	4.61	%
Average PE	18.77
Years in average	5
PE to PE average	115.50	%

Blackrock World Mining Financial Ratios

(Leverage Ratios)
Debt Ratio	0.02	%
Debt-to-Equity Ratio	0.00
Debt-to-Equity Ratio (excl. Intgbl)	0.00
Debt-to-Equity Market Value	0.00
Net Gearing	11.74	%
Net Gearing (excl. Intangibles)	11.74	%
Gross Gearing	16.08	%
Gross Gearing (excl. Intangibles)	16.08	%
Gearing Under 1 Year	16.07	%
Gearing Under 1 Year (excl. Intgbl)	16.07	%
Assets/Equity	1.19
Cash/Equity	5.18
(Liquidity Ratios)
Net Working Capital to Total Assets	-11.36	%
Current Ratio	0.29
Quick Ratio (Acid Test)	0.29
Liquidity Ratio	0.27
Cash & Equiv/Current Assets	92.27	%
(Solvency Ratios)
Enterprise Value	653.33	m
CFO/Sales	1.50
CFO/Attributable Profit	1.79
CFO/Assets	0.07
CFO/Debt	0.44
Total Debt/Equity Market Value	0.19
Total Debt/Sales	3.44
Total Debt/Pre-Tax Profit	3.76
Total Debt	131.41	m
Total Debt/Net Current Assets	-1.42	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	11.23	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	13.99	%
Earn drops > 5% in 10yrs	8

Beta (60-Mnth)	Beta (36-Mnth)
0.2120	0.1002

Blackrock World Mining Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	5.09	%
Return On Assets (ROA)	3.70	%
Net Profit Margin	83.82	%
Assets Turnover	0.04
Return On Equity (ROE)	4.67	%
Return On Investment (ROI)	4.29	%
Dividend Payout Ratio	99.17	%
Plowback Ratio	0.83	%
Growth from Plowback Ratio	0.04	%
Net Income Of Revenues	11.76	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.05
Fixed Assets Turnover	0.05
Current Assets Turnover	1.75
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	22.63
Debtors-to-Sales	7.26	%
Debt Collection Period	26.49	Days

Blackrock World Mining Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
20 Aug 2019	Quarterly	GBX	4.00	12/31/2018	12/31/2019	08/29/2019	08/30/2019	10/01/2019	-
02 May 2019	Quarterly	GBX	4.00	12/31/2018	12/31/2019	05/30/2019	05/31/2019	06/28/2019	-
01 Mar 2019	Final	GBX	9.00	12/31/2017	12/31/2018	03/21/2019	03/22/2019	05/10/2019	18.00
08 Nov 2018	Quarterly	GBX	3.00	12/31/2017	12/31/2018	11/22/2018	11/23/2018	12/21/2018	-
16 Aug 2018	Quarterly	GBX	3.00	12/31/2017	12/31/2018	08/23/2018	08/24/2018	09/21/2018	-
25 Apr 2018	Quarterly	GBX	3.00	12/31/2017	12/31/2018	05/31/2018	06/01/2018	06/29/2018	-
26 Feb 2018	Final	GBX	6.60	12/31/2016	12/31/2017	03/22/2018	03/23/2018	05/10/2018	15.60
10 Nov 2017	Quarterly	GBX	3.00	12/31/2016	12/31/2017	11/23/2017	11/24/2017	12/22/2017	-
10 Aug 2017	Quarterly	GBX	3.00	12/31/2016	12/31/2017	08/17/2017	08/18/2017	09/15/2017	-
04 May 2017	Quarterly	GBX	3.00	12/31/2016	12/31/2017	06/01/2017	06/02/2017	06/30/2017	-
23 Feb 2017	Final	GBX	9.00	12/31/2015	12/31/2016	03/16/2017	03/17/2017	05/12/2017	13.00
11 Aug 2016	Interim	GBX	4.00	12/31/2015	12/31/2016	08/25/2016	08/26/2016	09/16/2016	-
29 Feb 2016	Final	GBX	14.00	12/31/2014	12/31/2015	03/24/2016	03/29/2016	05/06/2016	21.00
13 Aug 2015	Interim	GBX	7.00	12/31/2014	12/31/2015	08/27/2015	08/28/2015	09/18/2015	-
19 Mar 2015	Final	GBX	14.00	12/31/2013	12/31/2014	03/26/2015	03/27/2015	05/08/2015	21.00
14 Aug 2014	Interim	GBX	7.00	12/31/2013	12/31/2014	08/27/2014	08/29/2014	09/19/2014	-
20 Feb 2014	Final	GBX	14.00	12/31/2012	12/31/2013	03/05/2014	03/07/2014	05/15/2014	21.00
21 Aug 2013	Interim	GBX	7.00	12/31/2012	12/31/2013	08/28/2013	08/30/2013	09/26/2013	-
19 Feb 2013	Final	GBX	14.00	12/31/2011	12/31/2012	03/06/2013	03/08/2013	05/02/2013	21.00
09 Aug 2012	Interim	GBX	7.00	12/31/2011	12/31/2012	08/22/2012	08/24/2012	09/21/2012	-
23 Feb 2012	Final	GBX	14.00	12/31/2010	12/31/2011	03/07/2012	03/09/2012	04/26/2012	14.00
24 Feb 2011	Final	GBX	6.00	12/31/2009	12/31/2010	03/30/2011	04/01/2011	05/13/2011	6.00
19 Feb 2010	Final	GBX	4.75	12/31/2008	12/31/2009	03/17/2010	03/19/2010	04/28/2010	4.75
12 Feb 2009	Final	GBX	5.50	12/31/2007	12/31/2008	02/18/2009	02/20/2009	04/30/2009	5.50
14 Feb 2008	Final	GBX	3.00	12/31/2006	12/31/2007	02/20/2008	02/22/2008	04/17/2008	3.00
05 Feb 2003	Special	GBX	0.50	12/31/2001	12/31/2002	02/12/2003	02/14/2003	04/23/2003	-
06 Feb 2002	Special	GBX	1.70	12/31/2000	12/31/2001	02/13/2002	02/15/2002	04/23/2002	-
06 Feb 2002	Final	GBX	1.45	12/31/2000	12/31/2001	02/13/2002	02/15/2002	04/23/2002	1.45
05 Feb 2001	Final	GBX	1.30	12/31/1999	12/31/2000	02/14/2001	02/16/2001	04/23/2001	1.30

Blackrock World Mining Fundamentals

	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)
turnover	39.25	100.00%	28.87	100.00%	34.17	100.00%	38.19	100.00%	m
pre tax profit	36.60	93.26%	26.49	91.75%	31.18	91.25%	34.92	91.42%	m
attributable profit	32.74	83.43%	23.30	80.72%	28.09	82.22%	32.01	83.82%	m
retained profit	-4.49	-11.43%	-8.49	-29.42%	-3.67	-10.74%	4.49	11.76%	m
eps - basic (p)	18.47		13.19		15.92		18.15
eps - diluted (p)	18.47		13.19		15.92		18.15
dividends per share	21.00		13.00		15.60		18.00

Blackrock World Mining Balance Sheet

	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)


	31 Dec 2015 (GBP)		31 Dec 2016 (GBP)		31 Dec 2017 (GBP)		31 Dec 2018 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	426.08	95.87%	760.17	99.01%	906.48	99.42%	778.53	95.29%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	5.14	1.16%	5.15	0.67%	2.57	0.28%	2.98	0.36%	m
cash & securities	13.22	2.98%	2.48	0.32%	2.68	0.29%	35.50	4.35%	m

TOTAL	444.44	100%	767.80	100%	911.72	100%	817.00	100%	m

LIABILITIES
creditors - short	67.12	15.10%	90.09	11.73%	106.43	11.67%	131.26	16.07%	m
creditors - long	0.01	0.00%	0.17	0.02%	0.64	0.07%	0.15	0.02%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	67.13	15.10%	90.25	11.75%	107.08	11.74%	131.41	16.08%	m

EQUITY
ord cap, reserves	377.31	84.90%	677.55	88.25%	804.65	88.26%	685.60	83.92%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	377.31	84.90%	677.55	88.25%	804.65	88.26%	685.60	83.92%	m

OTHER
NAV Basic	212.83		383.98		-		388.81
NAV Diluted	212.83		383.98		-		388.81

Blackrock World Mining Cash Flow Statement

	31 Dec 2015 (GBP)	31 Dec 2016 (GBP)	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)
Operating CF	67.68	6.91	11.36	57.43	m
Pre-Financing CF	67.68	6.91	11.36	57.43	m
Retained CF	13.22	2.50	-10.55	46.30	m

Blackrock World Mining Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MME)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Oriel Securities Limited	Market Maker(MME)	Broker/Dealer	OREL	ORSNGB21
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC