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Olive Resource Capital Announces December 31, 2023 NAV of C$0.064 per Share and Offers Update on Its Normal Course Issuer Bid
Toronto, Ontario--(Newsfile Corp. - January 9, 2024) - Olive Resource Capital Inc. (TSXV: OC) ( "...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces December 31, 2023 NAV of C$0.064 per Share and Offers Update on Its Normal Course Issuer BidToronto, Ontario--(Newsfile Corp. - January 9, 2024) - 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$0.064 per share for December 31, 2023 (Table 1). At the end of December, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareBlack Sheep Income Corp.Private $1,265,589 $0.012 Nevada Zinc Corp.NZN:TSXv $449,960 $0.004 Guided Therapeutics Inc.Private $383,698 $0.004 Working Capital1 & Liquid Investments2 $3,191,036 $0.029 Other Investments $1,731,944 $0.016 Total $7,022,228 $0.064  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: \"December offered a clear continuation of November's trends. The U.S. dollar index continued to drop, while metal's prices continued to rebound off the years' lows in October. Even though Western central banks' monetary system remains tight, China's central bank continues to inject liquidity, lending support to its rising manufacturing index, and providing a favorable environment for junior resource equities.\" Derek Macpherson, Executive Chairman stated: \"As we look back at 2023, we completed another strategic milestone with the sale Rockcliff, and managed to modestly increase our NAVPS by approximately 12%. As we start 2024, we are far more constructive about the current state of junior mining equities and have the liquidity to take advantage of it. Additionally, we continue to focus on our strategic objective of expanding the asset base.\"Normal Course Issuer Bid (\"NCIB\")On December 11, 2023 the Company repurchased 394,000 shares pursuant to the NCIB, bringing the total repurchased to date to 2,594,000 shares. On December 15, 2023 the current NCIB expired. On December 21, 2023 the Company cancelled 2,594,000 shares which had been repurchase...