Olive Resource Capital Announces July 31, 2023 NAV of C$0.076 per Share

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces July 31, 2023 NAV of C$0.076 per ShareToronto, Ontario--(Newsfile Corp. - August 9, 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$0.076 per share for July 31, 2023 (Table 1). At the end of July, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $4,560,888 $0.041 Black Sheep Income Corp.Private $1,268,923 $0.011 Nevada Zinc Corp.NZN:TSXv $630,119 $0.006 Guided Therapeutics Inc.Private $371,250 $0.003 Working Capital & Liquid InvestmentsPrivate $279,078 $0.002 Other Investments $1,402,014 $0.013 Total $8,512,272 $0.076  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 commodities and resource sectors rebounded in July. Major central banks around the world continue to pursue tighter monetary policy, with the notable exception of China, whose central bank injected liquidity into capital markets. In the U.S., a strong rebound in treasury issuance followed the resolution of the debt ceiling. This policy has led to an increase in liquidity, a weakening of the U.S. dollar, and an increase in risk appetite globally.\" Derek Macpherson, Executive Chairman, stated: \"Strong performance by Hudbay Minerals Inc., has driven up Rockcliff's share price, increasing Olive's NAV in the month. It is worth noting that on July 31, Olive's share price was trading at a greater than 25% discount to the value of its Rockcliff position alone and closed the month at a greater than 60% discount to NAV per share. With this valuation gap in-mind the Company plans to continue with the ongoing normal course issuer bid (\"NCIB\").\"As of July 31, 2023 the Company has repurchased 1,300,000 shares pursuant to the NCIB. These shares are currently held in treasury pending cancellation. As of the date of this release Olive Resource Capital Inc...

More updates from Olive Resource Capital Inc.