Last checked at 15 Feb 2022 07:00
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].
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] (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] Current Assets of £6,820,717 less Current Liabilities of £157,825 = Working Capital of £6,662,892
[2] 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.