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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ovoca Gold | OVG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 10.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.25 | 10.25 |
| Top Posts |
|---|
Posted at 19/9/2017 06:37 by oli12 Thanks Fenners I appreciate your posts and assessment based on your experience here - it is something to consider. Investors in OVG cannot say they were not adequately warned about the numerous risks here. Please keep posting where you see fit.Some might be surprised when the AGM arrives here. |
Posted at 15/9/2017 19:18 by oli12 The directors x3 own between them 45% of the shares leaving 55% left many of which are owned by institutional investors. If they offered 15p per share it would cost them around £6.7m to buy the company leaving them with €21m euros.Naturally they paid something for their shares originally however not a bad return. |
Posted at 15/9/2017 07:47 by fenners66 A "set" of interims .....??!!The RNS says - go find them yourself we are not showing you the figures here.... Ovoca Gold PLC Interim Results 15/09/2017 7:00am UK Regulatory (RNS & others) RNS Number : 8064Q Ovoca Gold is pleased to announce its interim financial statements and report covering the six-month period from 1 January 2017 to 30 June 2017. Please click on the following link to view the full Half Year Report: Highlights: -- Cash and cash equivalents and available for sale financial assets of EUR21.4 million as at 30 June 2017; -- Total comprehensive loss for the six-month period to June 30 2017 of EUR1.2 million; -- Dividend income received during the period of EUR0.3 million from our holding of Polymetal International Plc shares; and -- Cash payment of EUR0.5 million received during the period relating to the sale of mining equipment. CEO's statement Dear shareholders, It is my pleasure to report to you our financials and the results of our work for the first half of 2017. During the first half of the year, we completed the disposal of mining equipment for consideration of approximately EUR0.5 million and continued with our search for an investor for the Stakhanovsky project. During the period we also remained very active with litigation regarding our outstanding loan to Taymura LLC, which was declared bankrupt by a Russian court order in February 2016. In accordance with Russian law, all assets of Taymura LLC were valued by an independent auditor, and subsequently divided into two main categories of assets, namely: 1) oil extraction and production equipment, including the license (valued at approximately US$11 million); and 2) oil products (diesel, gasoline, etc.) stored in stock reservoirs on site (valued at approximately US$1.3 million). Taymura LLC also has receivables (of approximately US$2.5 million) which are also the subject of litigation. The first group of assets were placed in an auction process in May 2017; as there were no participants in this first auction process, it was lapsed. The second auction for the first group of assets was originally scheduled to take place on 15(th) August 2017 at an initial price equal to US$10 million. However, this auction is currently suspended pursuant to a court decision. Beneficiaries of Taymura LLC have continued to use unconstructive tactics in the courts in order to try and cancel the auction process and to seek to remove Ovoca from the register of creditors and these activities have led to a delay in the bankruptcy procedures. Separately, Taymura LLC disposed of the second group of assets in August 2017 for US$1.3 million and the proceeds received from this disposal were applied to cover the register of current debt, including salaries of ex-employees of Taymura. Ovoca continues to pursue its legal options in order to protect its interests in the bankruptcy procedure and to enable the disposal of Taymura assets through the proposed auction at the market price. Sincerely, Kirill Golovanov |
Posted at 18/10/2016 10:11 by fenners66 Do you think us mere amateurs are the only ones to have looked at this share?The market has had years to assess whether there is a chance of extracting value here. No its not the same as other small cap undervalued shares - ie those with potential that start to realise it and shoot up. This is a share with cards out on the table , the facts laid bare and the market has had this info for years. Yeah sure in a tight market from time to time you get some small investors jumping in and the price goes up. Well done to anyone who can then sell again without the opposite happening - they will still need to sell to buyers at the higher price. But then how do those buyers make any money? By waiting for dividends? Not going to happen , neither is returning surplus capital to shareholders - unless you happen to also be a director - administration expenses rose - no actual business done though. You can have your dreams that you are the first to realise that the assets are greater than the share price and you have found the pot of gold at the end of the rainbow - just remember the market has seen it all before. |
Posted at 14/10/2016 01:32 by fenners66 So its been a long time since I looked in here and I have just read some of the recent posts.I have to say it was sooo funny reading the "Interim Results" for a quoted company, haha I have seen accounts for corner shops with more detail. Thanks for the link MB. I read the pdf and thought that cant be it I'll have a look at Ovoca's website. There is a 1 page that mentions the " Comprehensive Profit" - their own term not an official PBT etc. and a link to the accounts that does not work! For some it seems - research (whats that?) done. But for those that can read accounts - hahaha what a load of rubbish - just as predicted years ago. How about "other gains and losses" €1.6m - no explanation - like shareholders would want to know anyway! Or "administration expenses" including that most revealing of category "Unallocated" you just couldn't make it up! We burned € 6m euro on a loan to a company that is bankrupt - we know after all that they wanted to reinvent themselves as an investment company in gold miners - how many years ago? So they have invested in nothing. But Directors remuneration. Excess funds, nothing to do with them, return the cash to shareholders right? Wrong! Never. It will never happen imo. Sorry off topic bit... Separately : has the market ever had a pump and dump ? If you were to do it ,how ? What story would you pump? Surely it would have to have at least the illusion of gains to come? What are the famous ones ? Buy £10 for a £5? How about seriously undervalued assets must be a winner? All you would need is a few facts, ignorant investors and jam tomorrow story ? Now back to Ovoca On paper Ovoca has undervalued assets - as I said years ago - they are valuable if you can get your hands on the money - but only the directors who are major shareholders have managed any of this so far no change here nothing to see , move on...... |
Posted at 09/10/2016 11:43 by hazl I guess the things you three have in common, is in picking investments that didn't work out and, to be fair, in some kind of altruistic way, trying to protect any new investors from investing.I do see that. I don't know if you are completely right in your judgement, because each of these companies have some value,it is just upto us as investors to consider what that is, and to get into it at the right time. If I was to criticize myself at all I would say that explorers are going to take much longer in the cycle to see any gain this time, and whilst I might have made profits in ORE before, it might be that I was rather too early this time around. IMO |
Posted at 09/10/2016 11:30 by hazl My posting on the bb confirms my trading history.It is sadly common to find disillusioned investors in the stock market currently. Perhaps these billboards don't help. I think that ORE may well be so much more in the explorer category that it will be harder to make profits,this time, we will see. IMO |
Posted at 09/10/2016 11:10 by hazl It is a general sell-off in miners and not specific to OVG.It tried to rally recently and didn't hold its gains,so I have taken my profits fully now as I was in from around the 5 pence mark. Apologies to anybody who may have followed me in recently. I would have kept some , had it behaved differently. The stock market has to be continually reassessed. Strange how you have to make everything personal. Good luck to any investors. I will return if circumstances change. H IMO |
Posted at 17/7/2016 11:42 by hazl Lastly I will say,what is it investors hate most of all?..........Share placings! How many have OVG had? The last one I could find was in 2008 at a premium to the price at the time! Compare that to GKP for example where investors get more and more diluted. Enough said,as far as I'm concerned. IMO |
Posted at 16/7/2016 10:42 by hazl Ah...Here we have it. People hopeful back in 2013 but as explained by last paragraph,not necessarily realistic! 'Cash-rich targets While most of the sector is running out of money, there are a few cash-rich companies and many of them are trading below their cash level. This is starting to attract activist investors, eager to capitalise on the valuation anomaly and encourage companies to return money to shareholders. Damille Investments II is a good example, after its purchase of Ovoca Gold (OVG:AIM) and Kolar Gold (KGLD:AIM). It must surely be looking at Copper Development (CDC:AIM) which has $14.4 million (£9.5 million) cash and no debt yet its market cap is £5.2 million. Its two copper projects have been put on hold and the directors reckon 2013’s operating costs will not exceed $750,000. It is feasible to suggest cash-rich juniors could become takeover targets for other resource companies yet we would not buy stocks to make a quick buck on a bid premium. Deals are likely to be structured as all-share purchases with the predator buying the target for its cash. They will probably pay above the market price for the shares, but that does not mean investors are certain to get a good deal. Their invested company’s cash is likely to be spent on different projects than previously intended, which may not be to the desire of the original shareholder.' |
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