Olive Resource Capital Announces July 31, 2024 NAV of C$0.066 per Share

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces July 31, 2024 NAV of C$0.066 per ShareToronto, Ontario--(Newsfile Corp. - August 15, 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$0.066 per share for July 31, 2024 (Table 1). At the end of July, the Company's price per share was C$0.025.Table 1: Olive NAV BreakdownNameTickerValueValue per Share ($)Black Sheep Income Corp.Private $1,259,252 0.012 Guided Therapeutics Inc.Private $392,897 0.004 Working Capital(1) and Liquid Investments(2) $2,126,195 0.020 Other Public Equity Investments $2,220,154 0.021 Other Private Equity Investments $939,900 0.009 Other Merchant Banking Investments $74,180 0.001 Total $7,012,577 0.066   Working Capital is calculated as cash, adjusted for 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: \"Copper and oil prices dropped in July, consolidating earlier gains, while gold prices rallied to all-time highs. Major resource equities tracked the performance of their respective commodities. Olive remains well deployed into both the larger and the junior resource space as the recent weakness appears to be a short-term consolidation on an otherwise strong resource market uptrend.\" Derek Macpherson, Executive Chairman stated: \"Olive's NAVPS, was up 4.2%, which was in line with TSXV Materials Index (up 3.7%) and lagged the XGD Gold ETF (up 13%). With only gold equities rallying in July, Olive's diversified portfolio underperformed versus the Gold ETF in the short-term. However, we believe the portfolio is well positioned to take advantage of the expected bull market in commodities and we note that some of our best performing positions were in non-gold related equities, including Tenaz Energy and Midnight Sun Mining.\"Normal Course Issuer Bid (\"NCIB\")During the month of July, the Company did not repurchase common shares pursuant to its NCIB. As of the date of this release, the Company holds 3,030,000 common shares in t...

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