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Olive Resource Capital Announces September 30, 2023 NAV of C$0.066 per Share
Toronto, Ontario--(Newsfile Corp. - October 10, 2023) - Olive Resource Capital Inc. (TSXV: OC) ( ...
About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces September 30, 2023 NAV of C$0.066 per ShareToronto, Ontario--(Newsfile Corp. - October 10, 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$0.066 per share for September 30, 2023 (Table 1). At the end of September, the Company's price per share was C$0.035.Table 1: Olive NAV BreakdownNameTickerValueValue per ShareBlack Sheep Income Corp.Private $1,262,256 $0.011 Hudbay Minerals Inc.HBM:TSX $1,065,611 $0.010 Nevada Zinc Corp.NZN:TSXv $539,952 $0.005 Guided Therapeutics Inc.Private $387,510 $0.003 Working Capital & Liquid Investments $2,971,953 $0.027 Other Investments $1,171,546 $0.010 Total $7,398,829 $0.066  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: \"Overall trends remained in place during September. Commodities continued their downtrends and the US dollar continued its uptrend. Despite economic indicators increasingly signaling a recessionary environment ahead, major central banks continued to pursue tighter monetary policy. This environment is not favorable for risk assets and Olive will allocate capital accordingly. Crude oil continues to be an exception, with supply constraints enacted by OPEC and Russia leading to further price increases during the month.\" Derek Macpherson, Executive Chairman, stated: \"With the sale of Rockcliff Metals to Hudbay Minerals Inc. now complete, Olive has materially increased its overall liquidity, at a time of exceptionally poor sentiment for resource equities. We believe this poor sentiment, has resulted in the material mispricing of some equities, and we plan to take a measured approach as we redeploy our capital to take advantage of these opportunities.\"During the month of September, the Company repurchased 200,000 shares at $0.03 per share pursuant to the Normal Course Issuer Bid. As of September 30, 2023 the Company has repurchased a total of 2,200,0...