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Started: Stretchum, 26 Jul 2018 19:46
Last post: Stretchum, 26 Jul 2018 19:46
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.
Started: Stretchum, 4 Jul 2018 10:16
Last post: SlowLearner, 4 Jul 2018 11:42
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
Mms don't have much stock, ..
Started: SlowLearner, 4 Jul 2018 11:16
Last post: SlowLearner, 4 Jul 2018 11:16
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
Personally I wouldn't go anywhere near a PJ company. The only people who make money from them are PJ and his merry men.
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
Last post: SlowLearner, 4 Jul 2018 10:12
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 £££_
Last post: lapalabra, 4 Jul 2018 09:37
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.
News, re direction £££££
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.
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!!!
Started: manxdragon, 21 Jun 2018 12:08
Last post: SlowLearner, 24 Jun 2018 21:32
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.
Started: manxdragon, 13 Jun 2018 11:43
Last post: manxdragon, 13 Jun 2018 11:43
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.
Started: Cliveas, 12 Jun 2018 12:28
Last post: SlowLearner, 13 Jun 2018 10:54
Yes Cliveas, it looks like most have either not noticed OVG's RNS or are waiting for the announcement.... problem is after the announcement it may be too late to buy in. More chance to snaffle up shares at 10p
Bit of action but if good news drops which it can at any time I can see 20p+ in short order! GL.
Started: Stretchum, 30 May 2018 14:11
Last post: Stretchum, 30 May 2018 14:11
Cracking investment and all the indication of change of direction..
Last post: SlowLearner, 30 May 2018 14:05
Indeed ... and don't forget Ovoca have a gold asset (that they have estimated needs gold at $1400 to mine). In terms of announcements - I think we are a few weeks away (as anything in the very near term would have been accelerated so it could have been released with last week's RNS). I can see an announcement of a split of the company / sale of the gold asset/special div and a refocused business with additional/new management and a potential acquisition (away from gold and oil). Either way I am enjoying the fact that the sp is only moving slowly up as it is giving me a chance to hoover up some more shares
Of cash@hand , what next? Expecting news asap
Last post: Stretchum, 29 May 2018 23:15
To show how valuable these cash shells are. Derriston capital about to be taken out by sir Martin sorrell in £40m deal. The have £2m market cap.
Started: SlowLearner, 29 May 2018 16:51
Last post: SlowLearner, 29 May 2018 16:51
So 4-5x buyers to sellers today .... feels like a good and typical day for coming weeks (steady growth with some profit takers) whilst more PI's spot the opportunity here. We are still >2.5x cash/poly shares to market cap so a long way to go before the announcement promised in last week's rns
New posters! And a price rise. Will wonders never cease. Who knows, perhaps they will actually do something with the assets now. Perhaps.
Started: naz11, 29 May 2018 11:32
Last post: Such, 29 May 2018 11:41
dont worry naz when peeps start selling you ll be able to buy more lol
nothing available all morning on auto trade, permanently on neg. trade.
Last post: Stretchum, 29 May 2018 11:39
Get a quote?
Started: naz11, 29 May 2018 11:26
Last post: naz11, 29 May 2018 11:26
stretchem, as you say seller looks to have gone, only 81m shares issue, very small freefloat, the directors have a lot of skin in here , which is always a positive , as soon as we have some volume ,this should move very fast, on the leaderboard which will also help to get the volume going,imo.
Started: Stretchum, 29 May 2018 11:16
Last post: Stretchum, 29 May 2018 11:16
Apologies, no notifiable interest
The seller keeping this down last year, have zero interest, happy days should rise nicely.