Business
NAV Announcement
NAV Announcement.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \nRNS Number : 1164L Athol Gold Limited 26 July 2011 \n \n\n26 July 2011\n \n \nATHOL GOLD LIMITED \n \n(AIM: AHG)\n \n(\"AHG\" or the \"Company\")\n \n \nNAV Announcement\n \n \n \nThe Board of AHG today announces that the Company's fully diluted NAV has increased from 0.578p on 26th April 2011 (after the issue of shares for performance fees for that quarter) to 0.585p as at 26th July 2011 - an increase of 1.3%.\n \nAHG's investment strategy is to invest in gold and precious metal companies quoted on stock exchanges in the UK, Canada and Australia. Its investments and assets as at 26th July 2011 are split as follows:\n \n\n\n\n\nCash\n\n\n£55,149 \n\n\n\n\nValue of investments quoted on UK exchanges \n\n\n£2,910,404 \n\n\n\n\nValue of investments quoted on Canadian exchanges \n\n\n£183,914\n\n\n\n\nTotal Value of Assets\n\n\n£3,449,468\n\n\n\n\n\n \n \nIn calculating the NAV the fully diluted number of shares in issue of 589,339,680 has been used. \n \nAccording to the management agreement, t1ps Investment Management (IOM) Limited (TIM) is entitled to a fee payable quarterly in shares of 25% of the uplift in NAV per share in each quarter with no fee payable on the percentage of fully diluted equity owned by funds managed by TIM. However, with a watermark set at 0.617p (the NAV for the prior quarter before the issue of performance fee shares), no management fee is due as of this quarter.\n \nAHG will next announce the NAV as at 26th October 2011.\n \nCommenting on the NAV update, Tom Winnifrith, Chief Investment Officer of Athol Gold, said:\n\"The modest increase in NAV per share from 0.578p to 0.585p is disappointing but reflects the weak market in mining juniors. This has started to change in recent weeks as gold has pushed through $1600 per oz and we expect it to change dramatically over the coming quarter as gold pushes on towards and through $1700 per oz and as M&A activity in the sector picks up. \n\"We note that one of our investments, unlisted Metallum PLC has already succumbed to an offer from Focus Gold from the US which we welcome and will benefit from. Moreover we note that two of our other major investments are on the verge of corporate actions which - we expect - to drive a material r...