REG-BlackRock World Mining Trust Plc: Sale of unquoted investment

BlackRock World Mining TrustAnnouncement

08/12/2025 07:02

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
MARKET ABUSE REGULATION NO. 596/2014 AS IT FORMS PART OF                      
                                        UK                                  
                            DOMESTIC LAW PURSUANT TO THE                      
                                        EUROPEAN UNION                       
                                       (WITHDRAWAL) ACT 2018, AS AMENDED
("MAR").                                                                UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

BlackRock World Mining Trust plc (the "Company                               "
                              )

LEI - LNFFPBEUZJBOSR6PW155

 

Sale of unquoted investment

 

The Board of BlackRock World Mining Trust plc announces the sale of its BHP
Brazil Royalty Contract to Gold Royalty Corp for a total consideration of $70
million                     ,                     a premium of 105% to the
current holding value of $34.1m. The uplift results in                        
         approximately                                a 1.8% increase to Net
Asset Value which will be reflected as at 8          th                    
December 2025, published 9          th           December 2025. The Company
will also receive all revenue from the Royalty owed for production in 2025
which has not yet been paid.

 

This transaction marks a successful exit from a position originally acquired
from Avanco Resources Ltd in July 2014 for $12 million. Since acquiring the
Royalty it has generated $38.5 million in royalty income to the end of June
2025. Based on the total proceeds from royalty income received to 30 June
2025, the gross proceeds of the sale and an estimate of royalty income payable
for the balance of the year, the total comes to circa $113 million - a return
over nine times the initial investment, or a pre-tax IRR of 40%. This compares
to a return of 212% (USD terms) for the Reference Index over the same time
period.

 

The sale is part of usual portfolio management in accordance with the
Company's published investment policy of investing principally in quoted
securities combined with up to 20% of gross assets in unquoted investments.
The Manager is currently engaged in a number of processes that could result in
the deployment of capital into new unquoted investments.

 

 

Kevin Mayger

Company Secretary

BlackRock Investment Management (UK) Limited

0207 743 1098

 

Enquiries:

 

Sayo Ajoje

BlackRock Investment Management (UK) Limited, Corporate Communications

Telephone: 020 7743 3000

 

Neil Langford

Winterflood Securities, Corporate Broker

Telephone 020 3100 0160

 

8 December 2025

 

 

 Release  (https://mb.cision.com/Main/22397/4278091/3829302.pdf)  



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