Business
Interim Results for Six Months Ended 31 Dec 22
Interim Results for Six Months Ended 31 Dec 22.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \n \n \n Mineral & Financial Investments Limited\n \n \n \n \n Interim Results (unaudited) for the Six Months Ended 31 December 2022\n \n \n \n \n \n \n \n \n \n HIGHLIGHTS:\n \n \n \n ·\n \n Net Asset Value per share (\"NAVPS\") on 31 Dec. 2022 was 22.03p, up 18.3% from 18.62p year/year.\n \n \n \n ·\n \n H1-2023 NAV was £8,214,458, up 24.8% from £6,580,017 year over year\n \n \n \n ·\n \n Net earnings[1] for H1-2023 were £702,824 (EPS-FD 1.84p) vs. H1- 2022 Net earnings £141,740 (EPS-FD: 0.37 p/s FD)\n \n \n \n ·\n \n The 6-year Compound Annual Growth rate for NAV was +32.9% and for NAVPS +23.4%\n \n \n \n ·\n \n Cash position increased by 883.5% yr/yr to £2,284,667 as of December 31, 2022 while invested capital was £6,214,891 (down by 5.32% yr/yr).\n \n \n \n ·\n \n M&F remains debt free, with a very strong cash position and a NAV growth performance outperforming a number of relevant benchmarks.\n \n \n \n \n \n \n \n \n \n CAMANA BAY, GRAND CAYMAN ISLANDS, 30 March 2023 -\n \n Mineral and Financial Investments Limited (LSE-AIM: MAFL)\n (\"M&F\" or the \"Company\")\n is very pleased to announce its unaudited interim results for the six months ended 31 December 2022.\n \n \n The Company generated a H1-2023 after-tax profit of £702,208 and a fully diluted earnings per share Fully Diluted (\"EPS-FD) of 1.84p per share, this compares with H1-2022 net earnings of £141,740 or 0.37p per share. The NAVPS as at the end of the December 31, 2022, quarter was 22.03p an increase 18.3% from last year's NAVPS for the same period of 18.62p. Working capital as of 31 December 2022 was £8,354,458\n [2]\n . The Net Asset Value (basic) has grown at an average of rate of 32.9% per year on a compounded basis since 31st December 2016 (6 years).\n \n \n \n M&F NAVPS vs. Comparable Benchmarks\n \n \n \n \n Indexed Performance\n \n (Fig. 1)\n \n \n \n (Dec 31 2016 = 1.0)\n \n \n \n \n \n \n \n \n \n CHIEF EXECUTIVE'S STATEMENT:\n \n \n \n The Company had a very strong cash position of £2,284,667. M&F received a US$2.5M cash payment from Ascendant Resources in the final quarter of 2022, as part of their earn-in agreement on the Lagoa Salgada's copper project in Portugal. During the period, we also monetized some of our smaller investments. Our NAV growth Year on Year was 24.8% despite the continued strength in th...