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bit by bit we are getting there .. not much volume for buying and can sell at over 10p now
Just need some buys?!
This should get fun if it breaks the 10.5p level.
These little gems, try buying any volume ;-)
What a little volume will do here !
Someone happy to pay 10p plus, normally very little trading here however the smallest interest pushes the price up. Reminder OVG has €20m in cash / equivalents around €12m is held by way of 1,405,000 polymetal shares. Market capitalisation of OVG at 10p is around £8m. OVG is owed around 6m by Taymura which the management are confident of getting back. We also hold licences to several good assets. DYOR.
Interesting perhaps about to do some serious moving?..eyes down for this one think I may be tempted to buy now
200, 500 then into auction...??
Talk of an o&g investment ?
Current sell is 10.3 so demand is there. A bit of volume and could move fast
Stock here is tightly held directors hold 51% between 3 of them. Maybe someone has a whiff which way the Russian cases will go. Irrespective OVG has cash and Polymetal shares covering it's market capitalisation by 3. If this moves to 15p it's still cheap based on cash / cash equivalents.
Guys must be a background buyer...2 small buys two ticks....
Buy a sausage without auction ....moves on every buy....hhhmm
the SP is creeping up, a buyer in the backgroup taking any stock - small chunks YES however its amazing how it pushes the price up. Imagine when NEWS comes of the Taymura settlement with OVG getting its eqvi of its market cap in cash / eqv.
effective bid now 9.8p.............at last a sign that value is returning to the SP but a LONG way to go.......steady as she goes Lennie
Sadly you have to translate it. since the meeting last week there has been a buyer taking stock. Expect developments soon.
OLI12 - It comes up as Russian when I open the link ... am I doing something wrong or are you fluent? Thanks The statement we have from them at the AGM and the follow-up press is the first time mgt have properly engaged and said they are thinking about things in the years I have been following OVG. I hope I am not getting carried away but I think we are going to see some activity after the court case concludes early next year and therefore the share price should continue to increase in the lead up to that as more people spot the massive undervaluation (3x assets to market cap) that mgt have now acknowedged
http://bankrot.fedresurs.ru/Download/file.fo?id=1207371&type=MessageDocument Seems positive.
Irish-listed Ovoca Gold is considering opportunities in the oil and gas sector as it seeks to close the gap between its market capitalisation and its net current assets. The company is valued by the market at just over �7m, despite the fact it has cash in the bank around $6.5m (�5.5m) and a stake in gold and silver mining business Polymetal currently valued at around �15m. Around half of the shares are owned by Russian board members, and the company's exploration assets are located in Russia. The company is currently embroiled in legal action after a loan it gave to another business went into default. Chief executive Kirill Golovanov told shareholders at the company's AGM in Dublin last week that Ovoca management believes there is the potential to acquire oil and gas assets on foot of this process. "That would fundamentally change the business of the company and for sure we would need to seek shareholders' approval to do that ... there is a big fight regarding these assets among the creditors. "Before we resolve this issue we cannot consider any dividends because if we are to acquire that property ... we would need funds to develop those assets," Golovanov said. "I do understand there is a substantial gap between our market cap, and the value of our cash in the bank and securities that we have. We can argue why that is going on but there are probably some issues because of the Russia issue - that the company has all its assets in Russia - which is not true technically because the cash is in foreign banks and Polymetal is an international public company. Its shares are traded on the London Stock Exchange." Golovanov said he believed the best way to close the gap between market cap and assets was to acquire new projects. "My view on our company is that we have enough of our own funds, and we are in a better position than other companies. So for us it is more a question of finding the right project which would create value for the shareholders and change this gap." The company's Russian gold exploration project - known as Stakhanovsky - needs a gold price of $1400 an ounce to be commercially viable, Ovoca director Tim McCutcheon told the AGM. Gold is now trading around $1300 an ounce. McCutcheon was formerly the company's chief executive. "Ovoca has enough money to actually do something, and the question has always been what project do you take when you can actually do something. "I can fully appreciate the fact that it's been a while [looking for a new project] but when we find the right project we'll have enough money to actually do something and not have to raise shares and beg other people for funds."
Interesting. So how much oil does Taymura contain?
Thanks for the hard work. Good Independent article which confirms Fiachra's comments. It's a long time coming on here but the impression is the Directors aren't just sitting around getting their paycheck, content for nothing to happen. Let's hope it does 'one day Rodney'
just like that she moves up.
credit to Fiachra on ADVFN --- he attended the AGM. interesting! worth a HOLD / PUNT https://www.independent.ie/business/irish/ovoca-gold-targets-oil-as-shares-lag-assets-36352388.html
A poster on the OVG thread went. Very interesting post re Krill and his plan! It seems IF we get hold of the Taymura oil asset we will use our cash to develop it. Worth reading. Gives more insight than any RNS! (not that it's hard)
So Advfn was at the meeting - so what?