Mineral & Financial Invest. Limited

Regulatory Filings • Feb 15, 2022

National Storage Mechanism | Additional information

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].

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

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[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.

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