Business
Net Asset Value Update
Net Asset Value Update.
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \nRNS Number : 7875Y Mineral & Financial Invest. Limited 08 March 2017 \n\nMINERAL & FINANCIAL INVESTMENTS LIMITED\n(\"Mineral & Financial\", \"MAFL\", or the \"Company\")\n \nNET ASSET VALUE UPDATE\n \n \nHIGHLIGHTS\n \n· NAV of 6.25p (unaudited)\n· TH Crestgate drilling progressing\n· Results expected shortly\n· Gains in equity portfolio\n· ETFs weaken on lower precious metals prices\n \n \n \nMAFL, the AIM quoted resources Investment Company, today announces an NAV and operations update on its activities for the period ended 31st December 2016.\n \n \n \nCHAIRMAN'S STATEMENT\nThis Net Asset Value (NAV) statement covers the quarter ending December 31, 2016. This period was affected by the volatile performance resulting from the election of Donald Trump and the impact of a summer fund raise by the Company which increased the number of shares in issue by 10,000,000 ordinary shares. \n \nWe believe the global economic backdrop continues to improve modestly, but steadily. The outlook for 2017, as forecasted by the IMF, indicates that the global economic activity in 2017 should increase by +3.4%, an improvement from the 2016 performance of +3.1% growth. The future performance of the resource sector will increasingly be determined by the economic activity outside the United States. However, for the foreseeable future most commodities markets will continue to price commodities in US dollars. If the USD rises, all things being equal, it should cause a decline of the USD price of commodities. During the period there was a rise in value of the USD resulting from the hoped-for economic reforms from a Trump administration. This USD appreciation partially masked the continuing fundamental improvements for metals generally. \n \nThe valuation approach to our investment portfolio continues to be very prudent. In our opinion 2016 has been a very successful year for M&FI. Our stated NAV is up 63.8%, year over year, to $1,494,360. During the period we raised capital by issuing 10,000,000 ordinary shares and that has slowed the progress of per share NAV to 6.25 pence, as at December 31, 2016. \n \nOur fo...