LONDON (Alliance News) - Shares in Mineral & Financial Investments Ltd, which invests in natural resource companies, jumped as much as 45% Tuesday morning, as it reported a rise net asset value in the quarter to end-June and expressed cautious optimism for the remainder of the year.
Net asset value per share rose to 10.3 pence from 7.7 pence in the previous quarter, as nickel and zinc prices rose, the price of gold stabilised, and there was cautious improvement in the mining equity markets.
The company said its position in zinc, nickel and oil performed well during the quarter. It continued to focus on larger mining companies.
It had total cash at the end of the period of GBP636,000, or 4.6 pence per share.
Shares in Mineral & Financial were trading up 44% at 8.44 pence, the second biggest gainer on AIM, having touched a 52-week high of 8.50p earlier in the morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Mineral & Fin (MAFL)