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Olive Resource Capital Inc. (TSXV: OC) is a resource-focused merchant bank and investment company with a portfolio of publicly listed and private securities. The company holds 82,925,238 shares of Rockcliff Metals Corporation and is set to acquire additional shares through an agreement with Hudbay Minerals Inc. Olive has an unaudited Net Asset Value per share of $0.064 for December 31, 2023, and is actively involved in share repurchases through the Normal Course Issuer Bid (NCIB). The company focuses on expanding its asset base and capitalizing on the potential in junior mining equities.
Olive Resource Capital has announced an updated, unaudited Net Asset Value (NAV) of C$0.066 per share as of May 31, 2024. The company's share price at the end of May was C$0.03. Key investments include Black Sheep Income Corp. valued at C$1,262,649 and Guided Therapeutics valued at C$371,965. The total NAV is C$7,129,651. According to CEO Samuel Pelaez, high gold and copper prices boosted the company's NAV by 5% in May. Despite declines in oil prices, investments in junior resource companies outperformed larger counterparts. No shares were repurchased under the NCIB in May, and Olive holds 1,000,000 shares in treasury pending cancellation.
On May 14, 2024, Olive Resource Capital announced its unaudited Net Asset Value (NAV) per share for April 30, 2024, at C$0.063. This is a decrease of just under 2% from the previous month due to the Nevada Zinc equity being marked to zero. As of March 31, the company's share price was C$0.025. The NAV comprises various investments, including Black Sheep Income Corp. and Guided Therapeutics Inc., with total assets valued at C$6,832,889. Olive repurchased 500,000 shares in April through its Normal Course Issuer Bid (NCIB) at an average price of C$0.025 per share, holding 1,000,000 shares pending cancellation. The company has 109,174,709 common shares outstanding. The NAV is a non-GAAP measure and should not be considered in isolation or as a substitute for GAAP metrics.