NAV Update

RNS Number : 9308N

Athol Gold and Value Limited

04 October 2012

 



ATHOL GOLD & VALUE LIMITED

("Athol" or the "Company")

NAV UPDATE

The Board of Athol announces that Net Asset Value of the Company as at 30 September 2012 was 0.16p per share.

Market conditions during the summer were exceptionally tough, and opportunities to capitalise on rising equity prices in the period were limited. In such circumstances preservation of capital is paramount, and the newly-constituted Board is pleased to have averted further decline after several previous quarters of poor performance.

The Company can confirm that following the quarter end, the proposed exchange of non-core assets for units in funds managed by Webb Capital Asset Management Limited has been completed.

The exchange will enable Athol to conform more easily to its mandate, which is to invest in equities and ETFs in the resources space, with a particular focus on precious and base metals, oil and gas, and uranium.

As at 30 September, the portfolio was balanced as follows:

Gold: 12%

Base metals: 3%

Oil and gas: 19%

Other: 51%

Cash: 15%

The intention is to move the weighting most heavily in favour of gold over the next few months, but also towards all of the Company's mandated investment areas. A more detailed breakdown of the constituents of the portfolio will be provided at the next NAV update at the end of the current quarter, taking into account the effects of the Webb transaction.

The Board of Athol greatly appreciates the patience shown by shareholders as efforts to rebalance the portfolio after a prolonged period of uncertainty continue.

For further information please call:

Athol Gold Limited
Jennifer Allsop	[phone]
Libertas Capital
Sandy Jamieson	[phone]
XCAP Securities plc
John Grant / Jon Belliss	[phone]

 

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