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Olive Resource Capital Announces August 31, 2023 NAV of C$0.068 per Share
Toronto, Ontario--(Newsfile Corp. - September 12, 2023) - Olive Resource Capital Inc. (TSXV: OC) ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces August 31, 2023 NAV of C$0.068 per ShareToronto, Ontario--(Newsfile Corp. - September 12, 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$0.068 per share for August 31, 2023 (Table 1). At the end of August, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $3,731,636 $0.033 Black Sheep Income Corp.Private $1,272,256 $0.011 Nevada Zinc Corp.NZN:TSXv $630,119 $0.006 Guided Therapeutics Inc.Private $382,783 $0.003 Working Capital & Liquid InvestmentsPrivate $253,879 $0.002 Other Investments $1,371,990 $0.012 Total $7,642,664 $0.068  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: \"Commodities resumed their downtrends in August. The US dollar resumed its uptrend. Major central banks continued to pursue tighter monetary policy. A notable exception is crude oil, which resumed its uptrend following further assurances from OPEC and Russia to curtail production.\" Derek Macpherson, Executive Chairman stated: \"Despite challenging markets for resource equities in 2023, Olive's NAV remains up year-to-date and with the completion of the sale of Rockcliff Metals to Hudbay Minerals Inc., we believe that Olive is well positioned to take advantage of what appears to be depressed values for resource equities.\"During the month of August, the Company repurchased 700,000 shares at prices between $0.025 and $0.03 pursuant to the Normal Course Issuer Bid. As of August 31, 2023 the Company has repurchased a total of 2,000,000 shares pursuant to the NCIB in 2023. These shares 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 Measures:This press release contains references to NAV or \"net asset value per share\" whi...