REG - Mineral & Financial - Unaudited Quarterly Net Asset Value

Mineral & Financial InvestmentsAnnouncement

15/02/2022 07:00

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RNS Number : 6518B  Mineral & Financial Invest. Limited  15 February 2022

MINERAL AND FINANCIAL INVESTMENTS LIMITED

Unaudited Quarterly Net Asset Value

 

NAV as at the 30 September 2021 (Q1-2022) was 18.6p, up 18.0% year over year

 

George Town, Cayman Islands - 15 February 2022 - Mineral and Financial
Investments Limited (LSE-AIM: MAFL) ("M&FI" or "MAFL" or the "Company") is
pleased to provide an unaudited quarterly update of its Unaudited Financial
Performance and its Net Asset Value for the quarter ending September 30, 2021.
At the end of the third quarter, the NAV was £6,662,892, up 18.0%, from
£5,568,940 one year ago. The Net Asset Value Per Share was 18.6p at the end
of the Q1-2022 period, up 17.9% year over year. Unaudited net earnings for the
quarter ending September 30, 2022 were £131,615 or 0.38p per share. The
Company's working capital at the period end was £6,662,892 1  (#_ftn1) .

 

The following is a summary of the NAV, updated to include this unaudited NAV
calculation:

NAV SUMMARY OF HISTORICAL PERFORMANCE

(Table 1)

                         30 Sept. 2016  30 Sept. 2017  30 Sept. 2018  30 Sept. 2019  30 Sept. 2020  30 Sept. 2021  2021/2020 % Change  2021/2016 CAGR (%)
 Net Asset Value         £1,597,606     £2,471,771     £2,420,184     £5,346,041     £5,568,940     £6,662,892     18.0%               33.3%
 NAVPS 2  (#_ftn2) (FD)  6.5p           6.9p           7.5p           15.1p          15.8p          18.6p          17.9%               23.4%
 FTSE 350 Mining Index   12,713         16,547         17,707         18,135         18,180         19,257         5.9%                8.7%
 GS Commodity Index      364.5          399.3          486.3          403.6          350.2          557.7          59.3%               8.9%

 

The Company's year-on-year NAVPS growth of 17.9%, although still strong, was
lower than the five-year average CAGR of 23.4% due to a 4.2% increase of the
Pound Sterling vs US dollar exchange rate and a 6.6% decrease in the
U.S.-dollar gold price. Precious metals were generally weak in the period.
Alternatively, base metals were up as at September 30, 2021 on a year-on-year
basis.

 

 

PORTFOLIO COMPOSITION

(Table 2)

 Commodity Class                    Q1-2022      Q1-2022

                                    (£)          (%)
 Cash                               £619,625     9.1%
 Precious Metals                    £2,827,425   41.6%
 Base Metals                        £2,873,381   42.3%
 Energy                             £201,934     3.0%
 Tech. & Financial Derivatives      £276,379     4.1%
                                    £6,798,743   100%

 

 

FOR MORE INFORMATION:

Jacques Vaillancourt, Mineral & Financial Investments
Ltd.                        +44 780 226 8247

Katy Mitchell and Ben Good, WH Ireland Limited
                 +44 207 220 1666

Jon Belliss, Novum Securities Limited
                              +44 207 382 8300

 1  (#_ftnref1)  Current Assets of £6,820,717 less Current Liabilities of
£157,825 = Working Capital of £6,662,892

 2  (#_ftnref2)  The NAV calculation is unaudited and is made on the basis
that the Company has 35,135,395 shares. O/S (basic) and 35,465,395 shares. O/S
(FD) in issue.

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