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Reading last interims a court decision is expected end q4 17..so maybe getting close?!
if "great news" arrives e.g. recepit of Taymura funds back and then a return of cash to shareholders OR management buyout then this should open well above 10p and rocket. (free float is tight) lets see what happens... i feel something is brewing.. this explains the delayed AGM.. Ovoca is off alot of peoples radar and those who's radar its on is often because they dont like it due to previous experiences.
Oli12 , a punt for sure, needs some positive news to kick start....
The loan (6m USD) has been written off and even without this money the market cap of OVOCA is less than a third of the cash assets it holds 21m EUR. (this is held in Polymetal shares & cash) This does not count the licenses it holds which much be worth something. Now IF Ovoca gets 6m USD back which covers 75% of the market cap then suddenly there is a chance of a return of cash to shareholders or a management buyout,as they own just over 50% of the shares � they could buy this for 15p and still make a return of 100% on their investment. This on paper is cheap� but not without the risks, its unloved however at sub 10p its worth a punt IMO.
Some good pr. Plenty of cash available .the court case is a sticking point. A line needs to be drawn and move on
There isn't even low volume; that's the problem. Could stay under radar forever :)
The radar for most.dorment for years.about to wake? Will move on low volume.
Surprise if they 're shuffle to become an investment company..seems to be the trend in aim at the moment. They have plenty of cash.
If 26,501 shares then it's on NEX Lennie
There has been no volume recently, albeit yesterday. No trades at all today. Need some sustained buying to attract interest.
it sometimes takes several days / weeks for the site to update however here is the case against Taymura (its in Russian) however the soure is reliable (as it gets for Russia) its the Court of Russia's web site. http://sudact.ru/arbitral/participant/iScRiTROO3QB/?page=1
Certainly going on here. Tempting buy hhhmmm
It beggars belief that the management is considered not to be operating in concert and just goes to show what a nonsense financial regulation is at this level. I think currently that it is probably worth forgetting the value of licences, etc. as they are very much secondary in importance to the current assets and the licences are not great anyway. Last time I looked, and I confess that it is a while ago but given the pace that OVG moves probably still current, the gold asset was small beer and I would be surprised if there was a lot of interest in it. The idea that management would take this over is sound. They could make practically a 100% return overnight just by making a 15p offer. However, what would really transform this is the injection of a decent quality gold asset (or some trendy metal) whilst leaving �10m+ in current assets to exploit it. That would be transformational and longer term result in much further price increases. Given the progress by these guys over the last few years you would have to say a buyout is more likely than an asset injection but most likely is the status quo. I look forward to seeing what comes out of the AGM with interest but without any particular expectation.
In additional to their licenses Ovoca has EUR 21.2m of cash / equiv. GBP 12.6m is held in via 1,405,000 shares in Polymetal shares... this alone is worth DOUBLE our current market cap!!! DYOR however this should be worth at least 12p i.e the value of the shares it owns in polymetal and that assumes everything else including cash / licenses is worthless.
Perhaps an announcement on their gold prospects? https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/gold-mining-exploration-in-russia/ It's about time we had some news DYOR Lennie
CEO spent over �250,000 on buying more shares in September at 8.5p .... a very odd thing to do if there was bad news coming. Possibly he is trying to put distance between this and the AGM ... we are now just over a month since his purchase
�19m in cash.....directors own more than 50%.....directors recently bought at 8.5p.......director's to buy us shareholders out and all the cash is theirs....plus the POLY shares...plus the mining assets etc etc DYOR Lennie
Can't claim the credit unfortunately - it was a friend & fellow PI who spotted it. I think there may be a few silent investors watching this to see what happens with the AGM and any news. There were personal guarantees on the Taymura loan so, subject to the Russian legal process, OVG will hopefully manage to recover a decent chunk of the debt I've decided to try and get more before the announcement as (1) downside feels much less than the upside ... based on the last few years I could see a downside of 6p (albeit it has gone through this) and an upside of 14p (although it went higher last year also). (2) the announcement of the AGM should include details of any special resolutions such as special dividends (or) a management buy out (or) if Taymura is resolved then even a solvent voluntary liquidation and return of proceeds to shareholders Having said that I have been in and out of the shares for years whilst waiting for any news from Management ... I just hold on to the fact that the asset value is way above the market cap
Good work slow learner. Interesting too see what the explanation is...one would imagine it's significant news.....naturally could be good or bad - that said we are overdue some good news here!!!! It would be nice to see OVG back over 10p. The CEO(s) recent purchase at 8.5p must have been outside the closed period and reaffirmed management view that OVG is way undervalued by the market (for a variety of reasons some rightly so). Would love to see some money back from Taymura and a special divided releasing some cash back to holders.
I got a response from Reneta this evening saying AGM will be announced through normal channels but is still scheduled for November (and the Directors would explain the delay then). So a friend has skimmed the mem & arts and spotted that ovg need to announce the agm by the end of the week as they cannot exceed 15 months between agms (last one 16.08.16) and need to give at least 21 days notice. Could be something brewing ... I topped up today and will try and get some more before the end of the week but who knows if it is just imagination
I was thinking the same myself today re AGM as you need to provide sufficient notice to shareholders and the agenda / resolutions. Reneta at Ovoca normally replies pretty quickly to questions. I only hope the delayed AGM points to imminent news or developments that have needed time to come to fruition. A positive resolution to the Taymura case i.e Ovoca recovers most of what it is owed will be very positive news indeed. The next step is to return some cash to shareholders as they have done nothing else with it over the last few years. I have been told that although management hold over 50% however they are not acting in concert. (one could suggest otherwise however the Irish takeover panels is the only view that matters). News will come let�s hope it�s positive for us long suffering holders.
Oli12 - have you heard the date of the AGM? I've seen nothing yet and we are getting close to end of October so pinged them an email today. I'm hoping silence is golden and so we will get big news in near future. I've also asked them about shareholdings as management must be over 50% as per your figures below. Will share anything I receive. I've been in this share off and on (more on to be fair) for the last 5 years and I'm hoping that this extreme version of silence means something is coming even if its only a positive update on the Taymura case
Waiting for the company to announce the AGM date. It�s suppose to be in November (according tot the company). Hopefully the delay means we might have something to discuss...possible a new strategy, oppose to no strategy. This one is a risky one with many more than happy to warn you away from OVOCA at all costs. I remain wary however I feel there is some upside from 8p considering all the cash and polymetal shares. For purposes of balance there is also plenty of downside as well! DYOR
Comfort myself that this is like holding gold bars but getting a bit tired now seeing these share sales. Beyond me why anyone would think directors buying is good sign.always been suspicious how bigger holdings than these were sold so cheap.i am sure WE would have bought but NOT given the choice NATURALLY. I think all these guys ARE connected but the danger is they will successfully pretend they are not on any take over offer. The uk regulators are paper, presumably the irish no better ? Clearly not nice this guy sits there getting big salary from the divis.yes of course he says nice about us lol. I can only think they want all of us to sell so their guys have the lot. Well, no way will i do that.Be alert to any sudden offer and remember the bidder cant vote his shares.anything under 15 p or even 18p 20p.? vote NO..in meantime, can we complain to anyone about the do nothing salary ? Any ideas ? Can we buy more ? I used to try but was hard without clearly overpaying.