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Olive Resource Capital Announces February 29, 2024 NAV of C$0.065 per Share
Toronto, Ontario--(Newsfile Corp. - March 13, 2024) - Olive Resource Capital Inc. (TSXV: OC)...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces February 29, 2024 NAV of C$0.065 per ShareToronto, Ontario--(Newsfile Corp. - March 13, 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$0.065 per share for February 29, 2024 (Table 1). At the end of February, the Company's price per share was C$0.025.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareBlack Sheep Income Corp.Private $1,272,256 0.012 Nevada Zinc Corp.NZN: TSXv $539,952 0.005 Guided Therapeutics Inc.Private $395,938 0.004 Working Capital1 and Liquid Investments2 $2,983,756 0.027 Other Public Equity Investments $1,119,013 0.010 Other Private Equity Investments $716,807 0.007 Other Merchant Banking Investments $86,680 0.001 Total $7,114,402 0.065  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: \"The month of February was mixed for commodities and major commodity producers. Oil and associated equities performed well, while copper and its associated equities declined. Junior resource stocks predominantly dropped for the month, widening the valuation gaps with their larger counterparts. At Olive, we initiated a measured approach to deploy capital into the junior resource space as price declines in the sector appear too excessive on a relative basis.\" Derek Macpherson, Executive Chairman, stated: \"Olive's NAV was up a modest 2.0% month over month, ahead of the XGD Gold ETF (down 5.6%) and the TSXv Materials Index (down 2.7%). Our patient accumulation of quality gold stocks had Olive well positioned to capitalize when the gold price hit a new all-time high, earlier this month. In particular, Olive has had strong performance from our positions in Mawson Gold (up 73%) and K92 Mining (up 20%) since the end of February. Additionally, we are seeing positive surprises from recent corporate actions with our position in Aurion Gold (up 22%) and Karora Resources (up 12%) since the end of F...