BLACKROCK WORLD MINING TRUST PLC
Interim Management Statement - 3 months to 30 September 2011
To the members of BlackRock World Mining Trust plc.
This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and Transparency Rules.
It should not be relied on by any other party for any other reason.
This interim management statement relates to the period from 1 July 2011 to
30 September 2011, and contains information that covers this period, and up to
the date of publication of this interim management statement.
The Company's objective is to maximise total returns to shareholders through a
world-wide portfolio of mining and metal securities. Up to 10% of the assets
may be invested in physical metals. The Company is managed by Evy Hambro of
BlackRock Investment Management (UK) Limited.
Stock Performance
Cumulative Performance:
One Three One Five
Month Months Year Years
Net Asset Value (undiluted) -19.7% -24.5% -8.8% 62.8%
Share Price -15.0% -20.4% -3.0% 62.6%
HSBC Global Mining Index -15.5% -21.3% -10.6% 81.4%
All performance figures are in sterling terms on a total return basis.
Ten Largest Holdings at 30 September 2011
Company % Total Assets
Rio Tinto 8.5
BHP Billiton 6.5
Vale 6.5
Glencore Finance (Europe) 5% 31/12/14 6.4
Minas Buenaventura 5.8
Fresnillo 4.9
Teck Resources 3.4
Iluka Resources 3.3
Freeport McMoRan 3.2
First Quantum Minerals 3.0
Financial position and performance as at 30 September 2011
Gross Assets (£m) £1,303.13
Short term borrowings (£m) £75.3
Undiluted Net Asset Values:
Net asset value-Cum Income 692.58p
Net asset value-Capital Only 681.78p
Share Price 602.50p
Ordinary Shares in Issue* 177,287,242
Gearing 5.8%
Discount to NAV** 11.6%
*excluding treasury shares
**based on capital only NAV
Material Events & Transactions
During the period, 250,000 shares were bought back and placed in treasury.
The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 30 September 2011 and the date of
publication of this interim management statement which would have a material
impact on the financial position of the Company.
Half Yearly Financial Report
The Company announced its half yearly financial results for the six months
ended 30 June 2011 on 10 August 2011.
Contact details:
Caroline Driscoll
Secretary
Tel: 020 7743 2427
9 November 2011
ENDS
Please note more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/brwm. Neither the contents of
the Manager's website not the contents of any website accessible from
hyperlinks on the Manager's website (or any other website) is incorporated
into, or forms part of, this announcement.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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