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

About this update from Olive Resource Capital Inc.

[{"type":"text","content":"Olive Resource Capital Announces May 31, 2024 NAV of C$0.066 per ShareToronto, Ontario--(Newsfile Corp. - June 6, 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 May 31, 2024 (Table 1). At the end of May, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per Share ($)Black Sheep Income Corp.Private $1,262,649 0.012 Guided Therapeutics Inc.Private $371,965 0.003 Working Capital (1) and Liquid Investments (2) $2,516,697 0.023 Other Public Equity Investments $2,114,629 0.020 Other Private Equity Investments $780,259 0.007 Other Merchant Banking Investments $83,453 0.001 Total $7,129,651 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: \"Gold and copper prices hit all-time highs during the month of May, with corresponding moves in large cap producers. Oil prices declined sharply in a politically charged environment. The junior resource complex, which had trailed its larger counterparts, finally outperformed this large cap complex as we had expected. Olive continued to deploy capital into the junior resource space expecting the sector to continue to catch up to its larger peers.\" Derek Macpherson, Executive Chairman stated: \"Olive had several investments outperform in May, increasing NAV per share by about 5% in the month. While Olive's investments in copper, gold and silver companies drove this strong performance, the Company also saw outperformance in select platinum group metals (PGM) and nickel investments, despite those commodities being out of favour.\"Normal Course Issuer Bid (\"NCIB\")During the month of May, the Company did not repurchase any shares pursuant to its NCIB. As of the date of this release, the Company holds 1,000,000 shares in treasury pending cancellation.As of the date of this release Olive Resource Capital Inc. has 109,174,709 common shares ...

More updates from Olive Resource Capital Inc.