Announcement: Baker Steel Capital Managers LLP Agrees Heads of Terms with Golden Prospect Precious Metals Ltd.

Baker Steel Capital Managers LLP (“Baker Steel” or “the Manager”), a leading independent metals and mining specialist fund manager, is pleased to share that it has agreed Heads of Terms to become Investment Manager and AIFM of Golden Prospect Precious Metals Ltd (“Golden Prospect”).

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The decision by Golden Prospect, which has a strong heritage in the precious metals sector, is an affirmation of Baker Steel’s investment expertise, experience, research capability, and strong track record of investing in metals and mining equities.

 

Golden Prospect will be highly complementary to Baker Steel’s existing investment offering by providing a vehicle that can better access the significant investment opportunities in the exploration and development space, where companies are often characterised by deeper value, higher risk, and lower liquidity.

 

The Baker Steel team is expected to assume responsibility for the £79.1 million Guernsey-registered Company in Q3 2026 (data as at 10th July 2026).  Baker Steel’s investment team benefits from a diverse background in both the mining industry and the financial sector, with multicycle investment experience. Having strategically grown its investment team from 5 to 10 personnel over the last few years, Baker Steel is well positioned to manage the addition of Golden Prospect alongside its existing product range.

 

Baker Steel’s other funds include open-ended SVS Baker Steel Gold and Precious Metals Fund and SVS Baker Steel Electrum Fund (investing in future facing metals) which offer exposure to a predominantly large and mid-cap mining stocks. The firm also manages Baker Steel Resources Trust (BSRT:LN), a closed-ended vehicle which invests in pre-IPO and special situations in listed opportunities in the natural resources sector and which was recently admitted to the FTSE All-Share Index.

 

For investment trust investors who are willing to accept the risk and liquidity profile, Golden Prospect offers an appropriate vehicle for investing in exploration and development opportunities. In addition, Golden Prospect will also be differentiated by seeking to pay a dividend.

 

Mark Burridge, CEO and Fund Manager at Baker Steel, said, “It is a tremendous accolade for Baker Steel to be selected to become the investment manager of Golden Prospect Precious Metals Ltd and a strong endorsement of our expertise and success in investing in the precious metals mining sector. The company has a strong heritage in the precious metals sector, and we look forward to applying our disciplined, value-driven investment approach with the objective of delivering long-term value for shareholders.”

About Baker Steel Capital Managers LLP

Baker Steel Capital Managers LLP manages three award winning investment strategies, covering precious metals equities, speciality metals equities and diversified mining.

Baker Steel has a strong track record of outperformance relative to its peers and relative to passive investments in the metals and mining sector. BAKERSTEEL Precious Metals Fund is the 2025 winner of the GELD-Magazin Alternative Investment Award, and 2025 winner for the seventh year running of the Lipper Fund Awards while BAKERSTEEL Electrum Fund is the 2025 winner of the Euro Fund Awards Commodity Equities Performance over 10 years. The Baker Steel Resources Trust has also been named Investment Company of the Year 2021, 2020, 2019, Natural Resources, by Investment Week.

Fund Managers Mark Burridge and David Baker have been awarded two Sauren Gold Medals for 2021 and were awarded Fund Manager of the Year at the 2019 Mines & Money Awards.

Please Note: This document is a financial promotion is issued by Baker Steel Capital Managers LLP (a limited liability partnership registered in England, No. OC301191 and authorised and regulated by the Financial Conduct Authority) for the information of a limited number of institutional investors (as defined in the Fund prospectus) on a confidential basis solely for the use of the person to whom it has been addressed. This document does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase any shares or any other interests nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefor. Recipients of this document who intend to apply for shares or interests in Baker Steel’s funds are reminded that any such application may be made solely on the basis of the information and opinions contained in the relevant prospectus or other offering document relating thereto, which may be different from the information and opinions contained in this document. This report may not be reproduced or provided to any other person and any other person should not rely upon the contents. The distribution of this information does not constitute or form part of any offer to participate in any investment. This report does not purport to give investment advice in any way. Past performance should not be relied upon as an indication of future performance. Future performance may be materially worse than past performance and may cause substantial or total loss.