Mineral & Financial net asset value hits record high

12th Mar 2019 16:40

(Sharecast News) - Mineral & Financial Investments reported a record net asset value per share in the first half of its trading year.In the six months ended 31 December, M&F's NAV per share rose 73% to 12.5p from the 7.25p recorded a year earlier.The AIM-listed outfit, which invests in, finance and advises junior mining companies, said its continued NAV growth came "in spite of market headwinds", such as a weakened zinc price."We expected this trend to reverse, with LME Zinc inventories now approaching their lowest point in well over 21 years and halving in the last month alone," the M&F said.All in all, pre-tax profits rose to £722,000 from the £135,000 recorded a year earlier, principally due to significant gains on investments of £838,000.As of 1700 GMT, M&FI shares had picked up 3.45% to 9p.