Member Info for Daisan

I have read Wexy's musings on and off for a few years and he does post some interesting stuff. However, in my opinion his method of valuation is wholly inappropriate for explorers. It is, however, appropriate for companies with a revenue stream. Worth reading but be cautious with his views on explorers.

Ah! Thanks Lennie. My apologies Slowlearner. Good luck with GWMO Lennie. I think you'll need it. But who knows? On the basis of your buy here it may well soar! You may well be the new share guru.

Slowlearner, That was true last week but it has doubled since then! Still undervalued even so.

Agreed except for the £6m bit. Not sure that it is wise to count that as an asset. Also missed another million in unquoted investments but near enough.

Lennie, Your buy 2 months ago is looking like inspired timing! You got it at exactly the lowest price. Congratulations.

Strange. When I search #OVG I mostly get tweets about adult movies!

The share price has been static for years and suddenly it goes ballistic! Assets equivalent to about £22m so the company was due for a re-rate. But for it to stick there needs to be a deal. If they do a deal then who knows where this could go as they have some cash to advance it.

Interesting movement and volume off the chart. Why the sudden strong buying? And not an inconsiderable number. Enough to push it up 100%. Ok, this resulted in the inevitable selling but strange that there should be a sudden surge of interest. Most interesting will be if it continues tomorrow or if it just goes back to sleep.

More strange movement this afternoon. Moves on low volumes but market taking notice apparently!

Is it? I don't recall. If you know it is wrong, why write it?

Except the market cap. is not under £2m. There are 11,013,537 shares in issue after the placing which hasn't been reflected in LSEs information. I make that a market cap. of about £3.75m.

Making another run at 10p by the looks of things. Strange how round numbers seem to present such a barrier!

Clearly the market is beginning to react to the significant discount to net assets here and it may well be starting as a proxy for POLY shares, although that is a slightly more subtle message than a lot of investors will appreciate. However, for this to really get going the company needs to do a deal and I can't see much sign of that yet. Short term it looks like the price is re-rating and should be well supported in such by the assets but without a deal there is always the risk that enthusiasm will wane and the share price will drift again. Got to do a deal. There are loads of miners out there who could do with the cash and OVG has quite a bit if that.

Actually, this news is better although hardly 'wow' level. The grades/widths stated will definitely be interesting if they start consistently hitting them. I agree that it would be more reassuring to see greater widths rather than the tiny veins currently being encountered but at least these results point to greater possibilities and indicate that follow up drilling is worthwhile.

10.24p paid first thing and 10.34p just as I type. Story beginning to be appreciated. Re-rate long overdue but looks like it may be on the cards.

http://www.proactiveinvestors.co.uk/companies/news/128691/shanta-gold-to-hit-top-end-production-this-year-128691.html I don't believe that this has been posted on here before. It indicates how bullish the company is getting and gives some clarification of the recent change to the bond terms. Of particular interest is: "In the meantime, the cash generation continues and is helping significantly with the ongoing plan to fund the capital program and reduce debt. �We�re punching above our weight in terms of cash generation,� says Bradbury, �and we�re now paying down our debt.� He hastens to emphasise that this debt is �all legacy debt� and that the development work at New Luika is being paid for by ongoing operations. �Our cash flows are very robust in terms of delivering on our capital commitments,� he says. He also emphasises that although the markets remain open to fund junior miners at the moment, Shanta has no intention or requirement to issue any more equity to cover off the rest of the debt, which currently stands at around US$44.5 mln." The share price targets for SHG at the end are stupidly low and already surpassed. This has now turned into a serious cash generation machine and the rising price of gold keeps making its assets in the ground more valuable.

10p paid. Finally some understanding in the market of what is happening here.

9.5p paid soon after the bell for 30k shares. Suggests that there is not that much available. Still a long way to go with gold looking strong.

Paid today. A new 52 week high for SHG. It should be much higher!

It is always possible that the dollar will rise but it should be pointed out that the dollar is stronger now than just before Brexit and gold is $100/oz higher. The two are not directly contrarian and frequently rise together in times of stress. If anything, since the start of the year the inverse relationship has largely been between the yen and gold as the yen represents a greater 'safe haven' currency. As an aside, I believe that this is erroneous as the yen's appreciation has been accentuated by currency flows that are unrelated to 'safe haven'.