Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Tomorrow imo ;-).
All quiet here again....looks good technically with 10p strong support.
https://uk.tradingview.com/symbols/LSE-OVG/
Are we expecting further news in the next few months?
Lennie
I agree that the brief 7am rns was laughable in terms of the 2018/2019 typo and its brevity. However reading the later RNS and spending some time researching then there is a lot to the company and technology they are investing in, eg from http://www.publicnow.com/view/3926AD367E0B34591AF0EC78CC6E39BEDF74278D) .
I agree with your concerns about management historically - they haven't exactly been busy in the last 4 years however the results back in May and RNS again today have some of mgt leaving and the statement that more will go.
Thus I see this as the changing of the business from a cash shell (former miner) into a biotech/pharma business … clearly a big shift and I can imagine a bunch of investors will exit but the bios for the new management and their proven track record in pharma has me staying in (and hopefully getting the upside of a special div from the surplus cash/assets and sale of the gold asset … don't forget the market cap is still way under asset value even after the $6m investment)
Just re reading the RNS from today this made me smile - “To date, IVIX has completed Phase II clinical studies in Russia for Libicore. It now intends to complete the Russian Phase III clinical trial for Libicore in Q3 2019 and expects to have the results available by Q2 2019, following which it will seek approval for the marketing of Libicore in the Russian market” well I guess the results should be good given the time line. Did no one check the RNS! IMO if the directors of Ovoca put the shareholders first then they should have returned cash and wound the company up, today’s diversification is just an excuse to keep drawing salary for a few more years - given the shares directors hold they can do what they want as they can vote anything through. Be cautious here and DYOR before buying.
Personally I wouldn't go anywhere near a PJ company. The only people who make money from them are PJ and his merry men.
the summary that they have published (http://www.publicnow.com/view/3926AD367E0B34591AF0EC78CC6E39BEDF74278D) includes a lot of interesting information - eg IVIX has had over $6m investment to date … despite the very brief RNS first thing (and the 2019 typo) there is a lot to this acquisition and we have a new strategic direction. The new board directors are impressive. Biotech wont be for everyone but I can see this now getting back to asset value (Poly shares and remaining cash) before moving beyond reflecting IVIX
http://www.nationmultimedia.com/news/Startup_and_IT/30318025
There is a fair bit more info on line now in connection with the new non-execs that have been announced. Eg one of theme is the creator and mentor to the IVIX product
looks a better prospect. Rumour has it that THOR has acreage next door (dundas license) to Spitfire and that MAY be the reason why Paul Johnson picked up 10% of SRO
Mms don't have much stock, ..
Its got resistance in 14-15p range … not surprising really looking at the 2017 rally. I can imagine it could take another couple of goes to get through as there will be PI sellers at that level.
The craziness of how undervalued this share is means that even if the full $6m investment in IVIX goes to zero then assets (cash and Poly shares) are still more than the market cap!!
Is waking up, 20p+ incoming imo.
Time £££_
Yes sir
Only 10 million mcap.. This is a multi bagger
Exciting times
Management were clear in the previous statement they were looking for opportunities outside of the traditional areas. Additionally they referred to potential management changes … 3 of the existing execs/non-execs came with the gold asset so I can imagine they will be looking to exit potentially buying back the asset in the process.
Today will be interesting.
a few trades now going through NEX with 12.85p paid
04/07/2018 08:08 23,346 12.85
04/07/2018 08:04 14,283 12
Good Luck
Lennie
Hmmmm. A Russian biotechnology company with a drug for female sexual dysfunction. Quite a deviation from mining. I have no idea whether this is a viable company but there will be some who just buy in based on it being an RTO (although I also have no idea how many of these are ultimately successful). A large current asset pile to utilise on bringing the drug to market but, then again, bio companies do tend to consume large quantities of cash. Not one for me really although I maintain a very small stake purely as a play on that cash pile being used effectively.
News, re direction £££££
I bailed several months ago based on gut and on the prospect of better opportunities elsewhere. Having read this mornings RNS I am happy I did - it’s not for me. If others benefit from today’s announcement then great.
Theres a clue in company name......gold
Thought we are a mining company!!!
I agree Manxdragon … its is a month since the May results announcement including the covering statement "have the financial firepower to make a decisive move, which I anticipate we will announce soon." My estimate back then was that it would be minimum 4-6 weeks before we hear news (otherwise they would have announced it with the results).
Hence I believe we will hear news in the coming weeks … its OVG, so it could become months, but its coming!! Assets = 20-24p share price before they drive further value from new projects!!
Surprised not more interest here. Market cap well below liquid assets, it’s been a frustrating stock to hold as they seemed set on waiting for the Taymura outcome but at the same point, doing nothing in this sector has been a decent call even if it wasn’t a proactive decision. This has to spike hard on news.
Just added more. This has been a long haul and sat here for a long time valued well below cash/polymetal shares but last RNS was most affirmative I've seen that there will finally be some positive action. Agree that this should move very quickly on the next announcement.