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Olive Resource Capital Announces April 30, 2023 NAV of C$0.060 per Share
Toronto, Ontario--(Newsfile Corp. - May 5, 2023) - Olive Resource Capital Inc. (TSXV: OC) ( ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces April 30, 2023 NAV of C$0.060 per ShareToronto, Ontario--(Newsfile Corp. - May 5, 2023) - Olive Resource Capital Inc. (TSXV: OC) (\"Olive\" or the \"Company\") is pleased to provide investors an updated, unaudited Net Asset Value (\"NAV\") per share. Management has estimated the NAV of the Company at C$0.060 per share for April 30, 2023 (Table 1). At the end of April, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF: CSE $2,073,131 $0.019 Black Sheep Income Corp.Private $1,258,923 $0.011 Nevada Zinc Corp.NZN: TSXV $900,170 $0.008 Guided Therapeutics Inc.Private $427,788 $0.004 Working Capital1 & Liquid Investments2 $829,479 $0.007 Other Investments $1,218,687 $0.011 Total $6,708,178 $0.060  Working Capital is calculated as cash, minus management's estimate for known liabilities and is subject to change with future estimates or financial reports.Olive defines Liquid Investments as investments whose position can be liquidated in less than one day's average trading volume for that security.Samuel Pelaez, the Company's President, CEO, CIO and Director, stated: \"Major central bank balance sheets continue to shrink, suggesting tighter liquidity conditions ahead. The impact of this trend on commodities and risk assets is usually negative. For the month of April, major commodities were flat to down. On the equities front, strong negative downtrends remain dominant in energy and major mining, except for gold. Olive has increased its cash holdings as a result.\" Derek Macpherson, Executive Chairman stated: \"The decline in Olive's NAVPS is mostly attributably to our markdown of our investment in The Newly Institute. The updated valuation is based on the parameters for its go public transaction and the trading price of the public company that it is merging with. We have taken a conservative approach to this adjustment and expect that future financings and marketing of the combined entity should see the value of this investment improve.\" The ongoing normal course issuer bid repurchased 200,000 shares during the month April. These securities are currently held in treasury pending cancellation.As of the date of this release Olive Resource Capital Inc. has 111,768,709 common shares outstanding.Use of Non-GAAP Financial ...