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Olive Resource Capital Announces May 31, 2022 NAV of C$0.106 per Share
Toronto, Ontario--(Newsfile Corp. - June 7, 2022) - Olive Resource Capital Inc. (TSXV: OC) ( "...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces May 31, 2022 NAV of C$0.106 per ShareToronto, Ontario--(Newsfile Corp. - June 7, 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$0.106 per share for May 31, 2022 (Table 1). At the end of May, the Company's price per share was C$0.055.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $3,989,936 $0.057 Nevada Zinc Corp.NZN:TSXv $1,244,520 $0.018 Minera Alamos Inc.MAI:TSXv $812,000 $0.012 Great Bear Royalties Corp.GBRR:TSXv $105,364 $0.002 Other Investments & Working Capital $1,254,478 $0.018 Total $7,406,298 $0.106  Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"Junior resource equities dropped substantially during the month of May, despite a rangebound behaviour for commodity prices. The pullback appears to be related to a lack of liquidity rather than to equities' relationship to commodities. The rally in the U.S. dollar appears to have stabilized, albeit at a much higher level, and the risk appetite for junior resource equities has not yet returned. Taking this into account, where possible, Olive has been reducing its exposure to exploration stage companies, and redeploying into liquid production stage equities.\"Derek Macpherson, Executive Chairman stated: \"While junior equities remained weak and Olive's NAVPS was down 7.5%, month-over-month, it fared better than the major gold and copper indices which dropped approximately 10% in May. More importantly, we were able to announce our first acquisition, which is a step towards Olive's strategic goal of materially expanding the Company's asset base.\" 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 presented by other companies. There is no comparable GAAP financial measure presented in the Company's consolidated financ...