Olive Resource Capital Announces October 31, 2024 NAV of C$0.067 per Share
Olive Resource Capital reported an unaudited Net Asset Value (NAV) of C$0.067 per share for October 31, 2024, while the company's share price stood at C$0.025. The total NAV of C$7,164,217 includes significant holdings in Black Sheep Income Corp. (C$1.26M), working capital and liquid investments (C$1.78M), and other public equity investments (C$1.92M). The company's NAVPS increased by 4.1% in October, driven by strong performance in Valore Metals and precious metals positions. Management notes heightened volatility in commodity markets and remains cautious through November, traditionally a weak season for risk appetite and commodity returns.
Olive Resource Capital ha riportato un valore patrimoniale netto non verificato (NAV) di C$0.067 per azione al 31 ottobre 2024, mentre il prezzo delle azioni della società si attestava a C$0.025. Il NAV totale di C$7,164,217 comprende significative partecipazioni in Black Sheep Income Corp. (C$1.26M), capitale circolante e investimenti liquidi (C$1.78M), e altri investimenti in azioni pubbliche (C$1.92M). Il NAVPS della società è aumentato del 4,1% in ottobre, sostenuto da una forte performance di Valore Metals e delle posizioni in metalli preziosi. La direzione segnala una maggiore volatilità nei mercati delle materie prime e rimane cauta durante il mese di novembre, tradizionalmente una stagione debole per l'appetito per il rischio e i rendimenti delle materie prime.
Olive Resource Capital reportó un valor liquidativo no auditado (NAV) de C$0.067 por acción al 31 de octubre de 2024, mientras que el precio de la acción de la empresa se situó en C$0.025. El NAV total de C$7,164,217 incluye participaciones significativas en Black Sheep Income Corp. (C$1.26M), capital de trabajo e inversiones líquidas (C$1.78M), y otras inversiones en acciones públicas (C$1.92M). El NAVPS de la compañía aumentó un 4.1% en octubre, impulsado por un fuerte rendimiento en Valore Metals y posiciones de metales preciosos. La dirección señala una mayor volatilidad en los mercados de materias primas y se mantiene cautelosa durante noviembre, que tradicionalmente es una temporada débil para el apetito de riesgo y los rendimientos de las materias primas.
올리브 자원 캐피탈은 2024년 10월 31일 기준으로 주당 C$0.067의 감사되지 않은 순자산가치(NAV)를 보고했으며, 회사의 주가는 C$0.025였습니다. C$7,164,217의 총 NAV에는 블랙 쉽 인컴 코프.(C$1.26M), 운전 자본 및 유동 투자(C$1.78M), 기타 상장 주식 투자(C$1.92M)에 대한 중요한 지분이 포함되어 있습니다. 회사의 NAVPS는 10월에 4.1% 증가했으며, 이는 발로레 메탈스와 귀금속 포지션의 강력한 성과에 힘입은 것입니다. 경영진은 원자재 시장의 변동성이 증가하고 있음을 언급하며, 전통적으로 위험 감수 성향과 원자재 수익률이 약한 시즌인 11월 동안 신중하게 대응할 것입니다.
Olive Resource Capital a rapporté une valeur d’actif nette non auditée (NAV) de 0,067 C$ par action au 31 octobre 2024, tandis que le prix de l'action de la société était de 0,025 C$. La NAV totale de 7 164 217 C$ comprend des participations significatives dans Black Sheep Income Corp. (1,26 M$ C), du capital de fonctionnement et des investissements liquides (1,78 M$ C), ainsi que d'autres investissements en actions cotées (1,92 M$ C). Le NAVPS de la société a augmenté de 4,1 % en octobre, soutenu par une forte performance de Valore Metals et des positions en métaux précieux. La direction note une volatilité accrue sur les marchés des matières premières et reste prudente durant novembre, traditionnellement une saison faible pour l'appétit du risque et les rendements des matières premières.
Olive Resource Capital berichtete für den 31. Oktober 2024 einen ungeprüften Nettowert (NAV) von C$0.067 pro Aktie, während der Aktienkurs des Unternehmens bei C$0.025 lag. Der gesamte NAV von C$7,164,217 umfasst erhebliche Beteiligungen an Black Sheep Income Corp. (C$1.26M), Betriebskapital und liquide Investitionen (C$1.78M) sowie weitere öffentliche Aktieninvestitionen (C$1.92M). Der NAVPS des Unternehmens stieg im Oktober um 4,1%, unterstützt durch eine starke Leistung von Valore Metals und Positionen in Edelmetallen. Die Unternehmensführung weist auf eine erhöhte Volatilität auf den Rohstoffmärkten hin und bleibt im November, der traditionell eine schwache Saison für Risikobereitschaft und Rohstoffrenditen ist, vorsichtig.
- NAV per share increased 4.1% in October
- Strong working capital position of C$1.78M
- Portfolio diversification across public and private investments
- Company shares trading at significant discount to NAV (C$0.025 vs C$0.067)
- No share repurchases conducted in October under NCIB program
Toronto, Ontario--(Newsfile Corp. - November 15, 2024) - Olive Resource Capital Inc. (TSXV: OC) ("Olive" or the "Company") is pleased to provide investors an updated, unaudited Net Asset Value ("NAV") per share. Management has estimated the NAV of the Company at C
Table 1: Olive NAV Breakdown
| Name | Ticker | Value | Value per Share ($) |
| Black Sheep Income Corp. | Private | | 0.012 |
| Guided Therapeutics Inc. | Private | | 0.004 |
| Omai Gold Mines Corp.(1) | OMG.v | | 0.003 |
| Valore Metals Corp. | VO.v | | 0.002 |
| Silver47 Exploration Corp.(2) | AGA.v | | 0.002 |
| Working Capital(3) and Liquid Investments(4) | | 0.017 | |
| Other Public Equity Investments | | 0.018 | |
| Other Private Equity Investments | | 0.008 | |
| Other Merchant Banking Investments | | 0.001 | |
| Total | | 0.067 |
1. Derek Macpherson, Executive Chairman of Olive Resource Capital is a Director of this issuer.
2. On November 14, 2024, Silver47 began trading on the TSX Venture Exchange, but was considered a private equity investment on October 31, 2024.
3. 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.
4. 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 rebounded strongly in October, leading to heightened volatility in commodity markets. While gold prices rallied to fresh all-time highs, other major commodities dropped. Major resource equities underperformed their respective commodities for the third month in a row, suggesting a short-term correction in commodity prices is likely. 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
Normal Course Issuer Bid ("NCIB")
During the month of October, the Company did not repurchase common shares pursuant to its NCIB. As of the date of this release, the Company holds 3,030,000 common shares in treasury pending cancellation.
As of the date of this release Olive Resource Capital Inc. has 109,174,709 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 quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding the Company's performance, and may assist in the evaluation of the Company's business relative to that of its peers. This data is furnished to provide additional information and does not have any standardized meaning prescribed by GAAP. Accordingly, it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP, and is not necessarily indicative of other metrics presented in accordance with GAAP. Existing NAV of the Company is not necessarily predictive of the Company's future performance or the NAV of the Company as at any future date.
About Olive Resource Capital Inc.:
Olive is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The Company's assets consist primarily of investments in natural resource companies in all stages of development.
For further information, please contact:
Derek Macpherson, Executive Chairman at derek@olive-resource.com or by phone at (416)294-6713 or Samuel Pelaez, President, CEO & CIO at sam@olive-resource.com or by phone at (202)677-8513. Olive's website is located at www.olive-resource.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the information contained herein.
Cautionary Note Regarding Forward-Looking Statements: This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should", "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Olive to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Olive believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: past success or achievement does not guarantee future success; negative investment performance; downward market fluctuations; downward fluctuations in commodity prices and changes in the prices of commodities in general; uncertainties relating to the availability and costs of financing needed in the future; interest rate and exchange rate fluctuations; changes in economic and political conditions that could negatively affect certain commodity prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; and those risks set out in the Company's public documents filed on SEDAR. Accordingly, readers should not place undue reliance on forward-looking information. Olive does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. The information provided in this recording has been obtained from sources believed to be reliable and is believed to be accurate at the time of publishing but we do not represent that it is accurate or complete and it should not be relied upon as such.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229990
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