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Olive Resource Capital Announces March 31, 2022 NAV of C$0.116 per Share
Toronto, Ontario--(Newsfile Corp. - April 6, 2022) - Olive Resource Capital Inc. (TSXV: OC) ( ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces March 31, 2022 NAV of C$0.116 per ShareToronto, Ontario--(Newsfile Corp. - April 6, 2022) - 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$0.116 per share for March 31, 2022 (Table 1). At the end of March, the Company's price per share was C$0.065.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $4,715,379 $0.067 Minera Alamos Inc.MAI:TSXv $1,083,970 $0.015 Nevada Zinc Corp.NZN:TSXv $881,535 $0.013 Great Bear Royalties Corp.GBRR:TSXv $330,660 $0.005 Other Investments & Working Capital $1,124,079 $0.016 Total $8,135,622 $0.116  Samuel Pelaez, the Company's President, CEO, CIO and Director, stated: \"The month of March was highly volatile for commodity prices. Prices rose sharply in the first half of the month as a result of supply uncertainties attributed to the conflict in Ukraine, and the western sanctions imposed against Russia. Unfortunately, most commodities were unable to maintain their price strength into month end. On a positive sign, junior mining stocks revalued and outperformed commodity prices.\"Derek Macpherson, Executive Chairman, stated: \"March was a another strong investment performance month for Olive with NAVPS up 7% from February. Two of the Company's legacy positions were the main drivers, with Nevada Zinc up 70% and Minera Alamos up 17%. For Nevada Zinc, the recent financing coupled with the shares for debt settlement, which was supported by Olive, has cleaned up the balance sheet and allowed Nevada Zinc to resume its multiphase pilot program to produce zinc sulftate, a key micronutrient used in agriculture. We believe this resumption of activity has resulted in Nevada Zinc's outperformance which has continued into April.\"Use of Non-GAAP Financial Measures:This press release contains references to NAV or \"net asset value per share\" which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures present...