Up 20% Friday on 7.5 million shares traded!Friday we had a 3 year high in volume and touched year highs. The market depth looks extremely bullish with huge support on the bid.
2024 NAV OF C$0.066 PER SHARE
Olive Resource Capital Inc. has provided investors an updated, unaudited net asset value (NAV) per share. Management has estimated the NAV of the company at 6.6 cents per share for May 31, 2024. At the end of May, the company's price per share was three cents.
Table 1: Olive NAV Breakdown
| | Ticker | Value | Value per Share (S) |
| Black Sheep Income Corp. | Private | $1,262,649 | 0.012 |
| | PTIValE | 51,90J | |
| nd Liquid Investmente (2) | | 6320,09/ | |
| | | $2,114,629 | 0.020 |
| | | | |
| Other Merchant Banking Investments | | $83,453 | |
| | | $7,129,651 | 0.066 |
1. Working Capital is calculated as cash, adjusted for management's estimate for known liabilities and is subject to change
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2. 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, chief executive officer, chief information officer and director, stated: "Gold and copper prices hit all-time highs during the month of May, with corresponding moves in large-cap producers. Oil prices declined sharply in a politically charged environment. The junior resource complex, which had trailed its larger counterparts, finally outperformed this large-cap complex as we had expected. Olive continued to deploy capital into the junior resource space expecting the sector to continue to catch up to its larger peers." Derek Macpherson, executive chairman, stated: "Olive had several investments outperform in May, increasing NAV per share by about 5 per cent in the month. While Olive's investments in copper, gold and silver companies drove this strong performance, the company also saw outperformance in select platinum group metals (PGM) and nickel investments, despite those commodities being out of favour."
Normal course issuer bid (NCIB)
During the month of May, the company did not repurchase any shares pursuant to its NCIB. As of the date of this release, the Company holds one million shares in treasury pending cancellation.
As of the date of this release Olive Resource Capital has 109,174,709 common shares outstanding.