Member Info for MikeF

Grateful for anyone to talk to me ha ha! Just want people to have a look and see what they think from what i can see it's a bargain at this price!

Cash value of 9p!!! Very undervalued...

Hellooooooo

Having kept one exploration interest in Northern Russia and sold one to JSC Polymetal for $12m in cash and 7.5m JSC shares which are now trading at $6.16 per share = cash or cash equivalent assets of £40.29m and growing as the JSC share price rises. JSC is still $3 short of its 52 week high so the cash asset could jump another £15m in the next few months. So cash per share at the moment = 9p and could get to 12.5p off of the expected share price of JSC. The issue is what are they going to do with the cash and when will they start production? Kola is a copper, molybdenum and gold exploration deposit. Gold is estimated at 2m ounces. They are located next to the sea and a Barrick Gold asset plus Norilisk Nickel and Consolidated Puma. Molybdenum = $20,000/t Copper = $3,256/t Gold = $1,000 oz These prices are 60% lower (exc gold) than the May 08 presentation but it is about cost base which i understand to be low. So if they can get to JORC/funding stage you have a lot of potential uplift! The production profit on the gold over the life of the mine = $1.4bn based on the estimated reserves and a $700 per oz profit.

Anyone?

I have done alot of research on this company and it seems that it is in a very good position! Its been mentioned that it has about 8-9p per share as liquid funds plus assets. It must be appealing to someone out there to take it out for say 6p. Gold $995 and silver $14.40 and both still rising surely it has to reflect in the Ovoca price sometime. GLA Bit of reseach: http://www.advfn.com/p.php?pid=nmona&cb=1235126599&article=36344542&symbol=RTS%3APMTL Does anyone have any thoughts on this?

Let me know what your findings are! GL

done much reseach on the company? All looks good to me, especially as gold prices are still going north!

If i remember rightly you were in on SOLG as well (don't know if you still are). Have a look at OVG and let me know what you think i got in today as i think they are undervalued and are in a good position for a posible takeover! GL

http://www.minesite.com/companies/comp_single/company/ovoca-gold-plc.html

...and associated countries. Ovoca could be the vehicle where all that knowledge bears fruit.

..is not large, its very high grade gives it attractive economics. With a capital cost of US$74m and production costs of US$4.11 an ounce, the estimated NPV of the project is US$75.9m at a 10 per cent discount rate and using US$12.5 silver. In the eyes of Ovoca, though, there is a lot more to this area than just zone 1. Rowan says that while the mill is initially designed for an annual capacity of 300,000 tonnes a year it will be built with scope for expansion. Power will come from the company’s own diesel generators, but there is the possibility of connecting to the mains supply providing the company is prepared to take the cost of building its own sub-station on the chin. Having sorted out all the technical details the next stage is to seek bank debt. Ovoca’s capitalisation of £69m and 100 per cent ownership of the property places it a good position in these negotiations. A small placing in November raised £4.5m and a big chunk of those shares went to a company controlled by one Mikhail Mogutov, giving him a 17% per cent stake in Ovoca. Senior management is also Russian with Leonid Skopstov as Chief Executive Officer. The difficulties of mine development and production in Russia are well documented and having locals involved in the management and ownership of these operations seems to be the smart way to arrange matters. Few people know that better than Chairman Roger Turner who has accumulated a great deal of experience in the tricky business

The delivery of a Bankable Feasibility Study for the Goltsovoye silver deposit in the Magadan region of Russia is a major step forward for Ovoca Gold. Now that it has the formal stamp of approval from consultants Scott Wilson for this project it can start making progress in taking the project forward and into production. Located in the remote sub-arctic north east of Russia, Goltsovoye is 575 kilometres from the port of Magadan. Operations Director Rowan Maule told Minews that an exploration road connects it to the nearest town of Omsukchan making it, in his words, “not that remote”. It was discovered in 1979 by Russian geologists and extensively explored by drilling and adits. The report from Scott Wilson confirms the NI 43 -101 status of the resource at 1.4 million tonnes at a grade of 884 grammes per tonne silver giving a total of 41 million ounces of contained silver. Rowan was keen to point out that this is only the resource from zone 1 and that another five or six zones are known, but have yet to be explored. The area is quite mountainous and the deposit has been extensively explored through a 12 kilometre network of adits, as the majority of the resource sits above the valley floor. This data has allowed the consultants to classify the deposit as measured and indicated. The silver is mostly associated with galena and the study envisages the production of a silver rich lead flotation and gravity concentrate that will probably be smelted in Japan. Although t

Ovoca Gold is an international precious metals exploration company quoted on the Frankfurt Stock Exchange (OVX), the London AIM Stock Exchange (OVG) and the Irish Stock Exchange (OVX) The company has a portfolio of advanced stage development assets and exploration properties in Russia. Through its various properties the company has interests in silver, gold, zinc, molybdenum and copper. Ovoca Gold with its varied portfolio and flagship Goltsovoye licence area is on the verge of becoming a major regional producer of precious metals.

No thoughts on this?

I have done alot of research on this company and it seems that it is in a very good position! Its been mentioned that it has about 8-9p per share as liquid funds plus assets. It must be appealing to someone out there to take it out for say 6p. Gold $995 and silver $14.40 and both still rising surely it has to reflect in the Ovoca price sometime. GLA Bit of reseach: http://www.advfn.com/p.php?pid=nmona&cb=1235126599&article=36344542&symbol=RTS%3APMTL

There will be a little more movent this afternoon and hopefully continue on Monday! GLA

10% spred now, far more attractive! Hope this continues this afternoon GLA

Keep it coming :)

very stable, maybe after lunch there will be a few more buys and the sp will continue to rise!. GLA