The board of Evy Hambro's £905m BlackRock World Mining trust is seeking shareholder approval to widen the investment trust's mandate.
The trust is planning to give Hambro the option of investing 20% of assets in unquoted investments, including royalties. Currently Hambro can only invest 10% of the trust in unquoted stocks. According to investment trust broker Numis, Hambro participated in a revenue related royalty last July, buying a stake in London Mining's Marampa iron ore mine in Sierra Leone. The revenue from the royalty now forms one of the trust's largest holdings, at 7.5% of the portfolio. "The board and the investment manager are continuing to consider possible future metal and mining related royalty i...
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