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Olive Resource Capital Announces September 30, 2022 NAV of C$0.067 per Share
Toronto, Ontario--(Newsfile Corp. - October 11, 2022) - Olive Resource Capital Inc. (TSXV: OC)...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces September 30, 2022 NAV of C$0.067 per ShareToronto, Ontario--(Newsfile Corp. - October 11, 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$0.067 per share for September 30, 2022 (Table 1). At the end of September, the Company's price per share was C$0.025.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareRockcliff Metals Corp.RCLF:CSE $2,176,329 $0.022 Black Sheep Income Corp.Private $904,380 $0.009 Minera Alamos Inc.MAI:TSXv $549,600 $0.005 Nevada Zinc Corp.NZN:TSXv $518,550 $0.005 The Newly Institute.Private $499,140 $0.005 Other Investments & Working Capital $2,116,415 $0.021 Total $6,764,413 $0.067  Samuel Pelaez, the Company's President, CEO, CIO and Director stated: \"All major commodities dropped during the month of September as U.S. dollar liquidity continued to be in high demand. The DXY U.S. dollar Index reached a new multi-decade high and led to further underperformance of junior resource equities. Olive continues to maintain above average cash and liquidity.\"Derek Macpherson, Executive Chairman stated: \"Despite the relative outperformance of our newer and more liquid investments, the legacy investments, particularly Nevada Zinc and Rockcliff, continue to be a drag on our NAVPS. These two investments accounted for approximately 63% of the decline in our NAVPS. We continue to play an active role in Rockcliff's ongoing Strategic Review, in an effort to maximize the value of our legacy portfolio. Additionally, we continue to focus on expanding and diversifying our asset base.\"Olive Resource Capital Inc. has 100,394,748 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 f...