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Olive Resource Capital Announces September 30, 2024 NAV of C$0.065 per Share
Toronto, Ontario--(Newsfile Corp. - October 8, 2024) - Olive Resource Capital Inc. (TSXV: OC)
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About this update from Olive Resource Capital Inc.
[{"type":"text","content":"Olive Resource Capital Announces September 30, 2024 NAV of C$0.065 per ShareToronto, Ontario--(Newsfile Corp. - October 8, 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$0.065 per share for September 30, 2024 (Table 1). At the end of September, the Company's price per share was C$0.025.Table 1: Olive NAV BreakdownNameTickerValueValue per Share ($)Black Sheep Income Corp.Private $1,265,936 0.012 Guided Therapeutics Inc.Private $420,808 0.004 Omai Gold Mines Corp.(1)OMG.v $315,000 0.003 Silver47 Exploration Corp.Private $237,500 0.002 Valore Metals Corp.VO.v $236,640 0.002 Working Capital(2) and Liquid Investments(3) $1,663,307 0.016 Other Public Equity Investments $1,954,846 0.018 Other Private Equity Investments $697,875 0.007 Other Merchant Banking Investments $89,016 0.001 Total $6,880,928 0.065  Derek Macpherson, Executive Chairman of Olive Resource Capital is a Director of this issuer.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 prices rallied to fresh all-time highs, copper prices rose strongly, while oil prices dropped this month. Major resource equities underperformed their respective commodities for the second month in a row. The US dollar index dropped for a third consecutive month, but has since held at a strong resistance level, suggesting a short term rebound in the US dollar is possible. This rebound could lead to a pause or correction in risk assets and resource equities during Q4 2024. Olive is well deployed into both the larger and the junior resource space, however, we remain cautious through November which typically marks a weak season for risk appetite and commodity returns.\" Derek Macpherson, Executive Chairman stated: \"Olive's NAVPS, was up a modest 1.9% in September, driven by a recovery in Midnight Sun's share price along with strong performance from Omai Gold Mines and Mawson Gold. Over...