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Audited Results for Year Ended 30 June 2023
Audited Results for Year Ended 30 June 2023.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n\nMineral and Financial Investments Limited\nAudited Full Year Financial Results and NAV for Period ended 30 June 2023\nHIGHLIGHTS\n· Fiscal Year-end Net Asset Value £ 9.4M (FYE: 30/6/23) up 26.5%, from £7.5M (FYE: 30/6/22)\n· Net Asset Value Per Share (\"NAVPS\") fully diluted 24.27p, up 21.1%, from 20.04p (FYE: 30/6/22)\n· Net Asset Value has increased at Compound Annual Growth Rate of 29.1% since 30 June 2018\n· Investment Portfolio now totals £9.1m, up 18.7%, Year/Year from £7.7M (FY: 30/6/22).\n· NAVPS growth has exceeded that of the FTSE 350 Mining index and of the S&P GSCI since 2017\n \nCamana Bay, Cayman Island - 20 December 2023 - Mineral & Financial Investments (LSE-AIM: MAFL) (\"M&F\" or the \"Company\")) is very pleased to announce its audited Net Asset value and fiscal year results on its activities for the 12 months ended 30 June 2023.\nCHAIRMAN'S COMMENTS\nDuring the 12-month fiscal period ending 30 June 2023 your company generated Gross Income of £2.394 million which translated into an Operating Profit of £1.806 million. Net Profit for the full year was £1.550 million or 4.35p per share basic or 4.03p per share on a Fully Diluted (\"FD\") basis for the period. At the year-end of 30 June 2023, our Net Asset Value (NAV) was £9.423M an increase of 26.4% from the 30 June 2022 NAV of £7.454M. The NAV per share - fully diluted (NAVPS-FD) as of 30 June 2023 was 24.27p, up 21.1% from the 30 June 2022 was 20.04p. Since 30 June 2018, our NAV FD has appreciated on average by 26.5% annually. We continue to be effectively debt free, with working capital of £9.542M.\nSummary of Financial Performance (Fig. 1)\n\n\n\n\n \n\n\n30 June 2018\n\n\n30 June 2019\n\n\n30 June 2020\n\n\nJune 30 2021\n\n\nJune 30 2022\n\n\nJune 30 2023\n\n\nCAGR (%)\n\n\n\n\nNet Asset Value ('000)\n\n\n£2,623\n\n\n£5,114\n\n\n£5,474\n\n\n£6,438\n\n\n£7,454\n\n\n£9,423\n\n\n29.1%\n\n\n\n\nFully diluted NAV per share\n\n\n7.49p\n\n\n14.50p\n\n\n15.50p\n\n\n18.22p\n\n\n20.04p\n\n\n24.27p\n\n\n26.5%\n\n\n\n\nIn a series of challenging years for the metals and mining sector, we believe 2023 has been the most challenging year since 2013. The industry has experienced slowing total World output (Fig. 3)...