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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.
Now the 3 Dirctors hold more than 50% and are acting in concert then I cannot understand why they have not been obliged to make an offer to the remaining she holders of the company. To my knowledge the company has never issued any waiver nor explanation as to why the cumulative holdings of the board members should be not oblige them to make an offer to the remaining shareholders of the company. Ovoca is subject to the Irish Takeover Panel Act 1997, Takeover Rules, 2013 ("Takeover Rules") hxxp://irishtakeoverpanel.ie/wp-content/uploads/2014/01/ITP-Takeover-Rules.pdf
The free float here must be minuscule, I hope for either a return of some cash to shareholders OR a management buy out. My funds would swiftly return to Chaarat as I see 2018 being the year of REAL progress after endless years of jam tomorrow. There are those of the opinion Ovoca is run by the management for the management and they will just keep the company going and use the cash for salaries and furthering their own interests - I admit this is a concern however It would be less risky for all parties if this were done via a management buy out. The fact they are even in a position to effectively purchase €21m of assets in the form of polymetal shares / cash for less than half this amount is a fantastic opportunity for them while shows the lack of trust / belief in them by shareholders / the market. I really hope the fact the CEO has just purchased shares for 8.5p shows he is keen to potentially bring an end to this saga. I believe a favourable outcome of the Taymura case will be the catalyst for further action...which might explain the delayed AGM. DYOR all IMO.
So there is the Rath Dhu holding down to zero as I guessed. Welcome Lennie, hope you bring us better luck. Oli, this really is the CGH club (as well as OVG). 15p buyout would suit me, put us out of our misery and a little profit for most.
I have just joined the OVG club again. Followed this for years and do feel that something may be brewing with that large director buy and AGM approaching. As stated by others, wouldn't take much cash to take it private, hopefully at a large premium to current price or for them to actually announce a new venture. Lennie
By my calculations Kirill Golovanov now owns 23.9% of the company and along with holdings of Leonid Skoptsov & Yuri Radchenko the directors have 52.4% of the shares here. Will they make a move to take this private with a low offer. At 15p it would cost them £6m to buy the shares they don't own and in return they get €21.4m of cash and equivalents along with the mining licences held. If a favourable outcome to the Taymura court case could lead to more cash as well (several million $). AGM is suppose to be November will we have developments before then....
Hi Oli12, Actually, I think that everyone should have a little money in a company like OVG (and, let's face it, there is no other company like OVG) on the basis that, if they ever did actually do a deal, the likelihood is that this would rocket. Until it does actually do something, this is likely to languish in a perpetual state of limbo. However, it does have one advantage over most AIM shares. It is not likely to do a placing any time soon and the income from the POLY shares is enough to pay their salaries whilst, presumably, they while away their time somewhere.
my fellow chaaraters, good to see your names here. I have been told by many OVG is an avoid - see the other BB ADVF... with countless warnings. The market does not like OVG hence the market cap less than 1/3 of cash. No doubt this is risky however I hope the BoD might return some cash here - I am hoping the delayed AGM (due in NOV) will yield some surprises of their intentions - hopefully once we get the Taymura $$$ back. All very much IMO.
Noticed those double trades and that's why I thought Rath Dhu must have sold, whoever they are. Perhaps they are related in some way to us but they only declared that Holding recently and I'm expecting another TR-1 to say it's all gone. Well it does seem that everyone has been suckered in here for this 'lifestyle share'. Obviously the Board are making the right noises that it isn't going to be that way, but that's the way to perpetuate it. Fingers permanently crossed
There seem to be one too many trades listed there and you wonder why this could not have been done off market. Still, it is a decent commitment by the CEO and with any other company this would be a buy signal. However, here it is still difficult to believe that this is anything other than a lifestyle company and the money spent on the shares here will easily find its way back into his pocket from the company. Difficult to oust the board here as well and the fact that this trades at a 60% discount to liquid assets is testament to what the market thinks about the situation. You still keep your fingers crossed that they will actually do something one day but considering they were cash rich at a time when we were going through the worst commodities downturn in living memory, it is hard to believe that they will do something now when they haven't for the last few years.
CEO gets another 3.25m shares - decent Buy for £276k These must have come from Rath Dhu Ltd as their holdings were 3.25m a week ago. Something going to happen ???????
BOD will eat up the cash like the worms in grave.
Interims out today. Not much action however €21.4m in cash / equivalents not the market cap of £6.63m!
Well you don't see them often an OVG RNS - about as rare as rocking horse s***. I guess they purchased Damille's shares.
Well looking at Damille Investments update today, it seems they have sold their 4,382,100 shares in OVG. Don't expect OVG to announce anything re the sale or who the purchaser is despite it being more than 5% of the companies capital... for long term suffers here that no shocker.
Hopefully get confirmation of DIL2's exit in the interims, which would normally have been out by now.
Nearly 6m shares sold off book today at a significant discount. Maybe Damille starting to dispose of stock
According to their half year report they still own 5% of Ovova. Damille is in the process of selling all its investments and returning cash to its shareholders they hope to complete this by year end. Which means they will need to dispose of their Ovoca holding. It will be interesting to see if they can find a buyer or whether the BoD will be happy to buy more. To dump them in the market would cause a dip in the SP.
Divi announced today of 11p per share so that's around £150,000 for OVG coffers. That will pay a portion of someone's salary for another year.
"....the end is in sight for our legal issue with LLC Taymura and I am confident there will be corporate news soon regarding Ovoca’s next steps" CEO June 2017. If / when news comes who knows how the market will react - no belief in the managements ability to actually deliver any value this is why it trades with a market capitalisation LESS than its cash / polymetal shares value.
The directors are spending the cash pile. That's why the SP is falling. When's the last time it rose?
Been in a year at least. A dud. Done nothing.
someone loading up here under the radar. Is news coming... I know with Ovoca Gold updates are non existent except for the FY and HY results however it seems like management are on the verge of delivering something providing its positive expect a swift re rating to 15p here which would still be significantly less than cash / equivalents. DYOR
Is someone confident that OVG will have some positive news regarding the ongoing litigation process? Any return of monies to OVG will boost the large cash pile OVG has in relation to its market cap. ($25m cash and equivalents). $7.1m cash and the rest is held in Polymetal shares.
This report on the website provided me with a good overview of the company and it's prospects. They're not exactly busting a gut to get anything moving but certainly does seem in fine financial shape. Could be good news one day and doesn't look many risks besides apathy.