Olive Resource Capital Delivers Second Consecutive Month of Record Investment Returns in September and Provides Update on Investments
Executive Summary
- Olive Resource Capital reports a 121% year‑to‑date increase in portfolio value, with September alone up 39%, driving its share price up ~220% YTD.
- Total investment portfolio value rose from $6.42 M (Dec 31 2024) to $14.20 M (Sep 30 2025), reflecting strong appreciation of publicly listed holdings.
- Management highlights cautious continued investing despite recent commodity strength and notes the firm’s liquid‑investment definition and valuation methodology.
Key Details
- Portfolio Valuation (USD):
- Dec 31 2024 (audited): $6,419,124
- Jun 30 2025 (unaudited): $8,600,797
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Sep 30 2025 (unaudited): $14,199,376
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Top Public Equity Holdings (Sep 30 2025 value):
- Omai Gold Mines Corp. – $3,379,050
- Sterling Metals Corp. (incl. warrants) – $1,625,864
- Troilus Gold Corp. (inc. warrants) – $610,680
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Arizona Sonoran Copper Co. – $581,400
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Private & Other Investments (Sep 30 2025):
- Black Sheep Ventures Inc. – $1,265,936 (private equity & convertible debenture)
- Aquitaine Metals Corp. – $323,190 (private equity)
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Public Equity Liquid Investments & Working Capital – $2,703,017
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Other Categories (Sep 30 2025):
- Other Public Equity Fundamental Investments incl. Warrants – $1,591,263
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Other Private Equity, Loans & Convertible Debentures – $747,795
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Share Count: 106,144,709 common shares outstanding as of release date.
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Valuation Methodology:
- Public equities valued at closing market prices.
- Private equity and convertible debentures valued per latest financial statements, adjusted for interest accruals and convertibility value.
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Out‑of‑the‑Money warrants priced via Black‑Scholes (35% volatility, 3% interest). In‑the‑Money warrants valued at intrinsic value.
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Liquidity Definition: Positions liquidated in < 1 day of average trading volume; includes cash & equivalents but excludes working capital adjustments.
Notable Quotes
Samuel Pelaez, President, CEO, CIO: “The September Fed interest rate decision created volatility… Most commodities rose… Gold hit fresh all‑time highs… Despite strong performance, seasonality in the fall is typically weak for commodities; we are investing more cautiously.”
Derek Macpherson, Executive Chairman: “Olive continues to deliver strong investment performance, with our investments up 39% in September alone and now up 121% year‑to‑date… Our share price is up 220% YTD.”