Net Asset Value Update

RNS Number : 2413M

Mineral & Financial Invest. Limited

15 July 2014

 



MINERAL & FINANCIAL LIMITED

("Mineral & Financial", "MAFL", or the "Company")

NET ASSET VALUE UPDATE

MAFL, the AIM quoted resources investment specialist, today announces an NAV and operations update on its activities for the period ended 30^th June 2014.

Highlights

·     Net assets of £1.38 million, or 10.03p per share (unaudited)

·     Fourth consecutive quarter of increased NAV 

·     Continued focus on larger mining companies

·     New investment in zinc ETF, ahead of recent rally

·     Total cash at period end: £636,000, or 4.6p per share

Post period end

·     Continuing to evaluate significant assets for acquisition

·     Global mining markets continue to improve

Commenting today Alastair Ford, CIO of MAFL said: "I am pleased to report our fourth consecutive quarterly increase in the Company's net assets per share (NAV), from 7.7 pence to 10.03 pence. This comes against a backdrop of rising nickel and zinc prices, a stabilisation in the gold price, and further - albeit cautious - improvement in the mining equity markets. Our positions in zinc, nickel and oil performed well during the quarter, and I look forward to the rest of the year with cautious optimism."

The Company will be holding its Annual Meeting on 21^st July at 11am at 24 Martin Lane, London, EC4R 0DR.

For more information:

Katy Mitchell, WH Ireland                                [phone]

Laurence Read, Director                                   [phone]

Notes: The net asset value calculation is subject to audit and is made on the basis that the Company has 13,722,062 shares in issue. All listed investments, including investments on ISDX, are valued at the closing bid price as at 30^th June 2014. The Company has an investment in one unquoted gold Company, which is currently valued at the price at which the gold Company in question last raised money, although this is subject to review.

 

END

 

 

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