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Olive Resource Capital Announces November 30, 2023 NAV of C$0.064 per Share and Announces Grant of Options
Toronto, Ontario--(Newsfile Corp. - December 6, 2023) - Olive Resource Capital Inc. (TSXV: OC)&#x...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces November 30, 2023 NAV of C$0.064 per Share and Announces Grant of OptionsToronto, Ontario--(Newsfile Corp. - December 6, 2023) - 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$0.064 per share for November 30, 2023 (Table 1). At the end of November, the Company's price per share was C$0.03.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareBlack Sheep Income Corp.Private $1,262,256 $0.011 Nevada Zinc Corp.NZN:TSXv $449,960 $0.004 Guided Therapeutics Inc.Private $390,713 $0.003 Working Capital1 & Liquid Investments2 $3,581,035 $0.032 Other Investments $1,517,201 $0.014 Total $7,201,165 $0.064  Working Capital is calculated as cash, minus 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: \"The U.S. dollar index dropped in November, lending increased liquidity to global markets. Metals' prices rose and risk assets rebounded off the years' lows. Crude oil prices dropped as the geopolitical tensions eased somewhat, and many producers increased supply. The global monetary system remains tight, with the exception of China whose central bank continues to inject liquidity and whose manufacturing index remains in expansionary mode.\" Derek Macpherson, Executive Chairman stated: \"As we have been evaluating the state of mining equities and the apparent lack of interest, as reflected by share prices and trading multiples, we believe that the Q4 2023, has similar characteristics, Q4 2015. From the lows in Q4 2015, to highs in H1 2016 gold increased by about 20%; however, many gold equities, both large and small delivered well over 100% returns in that period. While we are not certain that history will repeat, the gold price is already up about 12% off the lows and we are positioning Olive's portfolio to take advantage of this potential opportunity.\"During the month of November, the Company did not repurchase shares pursuant to the Normal Course Issuer B...