Market Discussions

M-Spec Industrial Resources Ltd (MTLS) is pleased to announce a 3rd quarter dividend of 10,000 ISK per share, payable on Tuesday, October 6 to shareholders of record as of Sunday, October 4.

During the quarter, share net asset value rose from 490,200 ISK to 507,500 ISK. Shareholder return, including dividend, amounted to 5.6%. In the minerals group, rebounds in the prices of Isogen, Mexallon and Tritanium more than offset pullbacks in Megacyte and Zydrine. The portfolio held overweight positions in Iso, Mex and Trit and underweight positions in Meg and Zyd during the quarter, helping to leverage this component of the increase in share value. Upward price movement in intermediate planetary materials, especially those used in the manufacture of fuel blocks, also contributed to the gain in share value.

For the 12 months ended September 30, share net asset value rose from 410,100 ISK to 507,500 ISK. Total return for the 12 month period, including dividends of 40,000 ISK, amounted to 33.5%.

As of September 30, M-Spec's assets totaled 668 billion ISK, of which 54 billion ISK was in cash.

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