Market Discussions

M-Spec Industrial Resources Ltd (MTLS) is pleased to announce a 2nd quarter dividend of 10,000 ISK per share, payable Tuesday, July 18 to shareholders of record as of Sunday, July 16.

During the quarter, share net asset value advanced at a moderate pace, from 650,600 ISK to 657,700 ISK. Shareholder return, including dividend, amounted to 2.6%. Price movement remained eerily flat across the entire range of Materials products, with few notable exceptions. In the Minerals group, a steady rise in Tritanium offset declining Mexallon prices. In the Advanced Materials group, a spike in Nanotransistors during June afforded a profit-taking opportunity. The balance of quarterly growth came from our recently added PLEX holdings.

For the 12 month period ended June 30, share net asset value rose from 607,900 ISK to 657,700 ISK. Total return for the 12 month period, including dividends of 40,000 ISK, amounted to 14.8%.

As of June 30, M-Spec's assets totaled 893 billion ISK, of which 78 billion ISK was in cash.

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