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Olive Resource Capital Announces November 30, 2022 NAV of C$0.055 per Share
Toronto, Ontario--(Newsfile Corp. - December 6, 2022) - Olive Resource Capital Inc. (TSXV: OC) ( ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces November 30, 2022 NAV of C$0.055 per ShareToronto, Ontario--(Newsfile Corp. - December 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$0.055 per share for November 30, 2022 (Table 1). At the end of November, the Company's price per share was C$0.035.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $1,658,505 $0.015 Black Sheep Income Corp.Private $911,963 $0.008 Nevada Zinc Corp.NZN:TSXv $540,102 $0.005 The Newly Institute.Private $490,725 $0.004 Minera Alamos Inc.MAI:TSXv $480,600 $0.004 Other Investments & Working Capital $1,998,505 $0.018 Total $6,080,399 $0.055  Samuel Pelaez, the Company's President, CEO, CIO and Director, stated: \"The month of November gave us a rebound in risk appetite. The U.S. dollar index dropped, while gold and copper rallied off oversold conditions. Central banks around the world appear ready to slow down or pause the pace of interest rate hikes, which reduce liquidity draws from the monetary system. Olive's portfolio underperformed owing to continued weakness in our legacy holdings.\"Derek Macpherson, Executive Chairman, stated: \"We were able to complete our second portfolio acquisition during the month of November and while it was small, continues to expand the Company's asset base. We continue to pursue other opportunities to expand and diversify our asset base and we are working to surface value in Rockcliff and Nevada Zinc, both of which have significantly underperformed in 2022.\"Olive Resource Capital Inc. has 110,768,709 common shares outstanding.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 financial statements and thus no applicable...