Medavinci Share Discussion Threads

[driver101] 17/2/2011 12:03

Bagain at this price IMO I need more funds.

[freedosh] 17/2/2011 10:25

yes we are. Pick and shovel job but all helps!
freedosh

[debbiegee] 17/2/2011 10:22

Touching skies ,are we not expecting production this year ?

[freedosh] 17/2/2011 09:53

PS 0.924s are buys
freedosh

[freedosh] 17/2/2011 09:52

All looks good to me so in for another 1M
freedosh

[touchingskies] 16/2/2011 16:49

Chaps I'm looking at investing at this recovery play and would like off the cuff opinions (please correct my in-accuracies).

Upcoming costs:

1> Under an Earn-in Agreement with TSX (Toronto Stock Exchange) listed Reservoir Capital Corporation, Orogen Gold has the right to an initial 55% interest in the Deli Jovan Gold Project, if it spends a minimum of approximately US$1.5 million on exploration by June 2012, and a further interest of 20% will be obtained upon an additional spend of approximately US$2 million by December 2013, giving Orogen Gold an aggregate interest in 75% of the Deli Jovan Gold Project

2> Phase 1 for the Deli Jovan project is likely to cost £600K whilst phase 2 for 2012 is likely to cost £1.1m


Shares:
3>On top of the 315m issued, another 240m are under a share option plan at a price of 0.95p (yet to be approved)

4>With the 1.74 billion approx issued, they have authorization for upto 5billion, thus plenty of scope.

Mine:

5> Estimates suggest a production cost of $500 an ounce with the smelting price in the region of $1050 an ounce - on production of 30,000 ounces this would produce revenues of approximately $15m with very little cost of sale attached.

However MVC - according to their annual report state "The directors confirm that, after giving due consideration to the financial position and cash flows of the company they have reasonable expectation that the company has adequate resources to continue in operational existence of the foreseeable future"

Thus they currently have £1.5m cash (+debtors £200K for the gyms) isn't their a likely cash call at the end of the year due to the cash burn and no existing revenue stream?

[jenny tulwought] 16/2/2011 16:03

Yep Jenny's never happy - or though, to be fair, it would be nice to have a day, once in a while, when the share price doesn't fall.

[tsykes] 16/2/2011 13:39

There are a few exciting comments in the Acquisition RNS:

- We have a very exciting gold project in Deli Jovan which I believe will significantly enhance shareholder value and additionally we are reviewing a number of other mineral exploration opportunities in Europe and Asia that are at varying stages of advancement.

- The directors and founders of Orogen Gold, John Barry, Edward Slowey, Alan Mooney and Michael Nolan, all have significant geological and corporate expertise gained by working on mineral exploration and production projects worldwide and are connected to an international network of senior advisors in exploration, mining, commercial operations and financing. Through these contacts, the Board and the Proposed Directors believe that Orogen Gold will have access to a pipe-line of gold project exploration and development opportunities in Europe.

- There is a high probability that other gold occurrences are present under soil cover elsewhere on the property, which may be located by a combination of geological mapping, soil geochemistry and ground geophysics and would merit investigation by drilling. As the soil cover in much of the large prospective area appears to be less than a couple of metres thick, soil geochemical sampling could well locate new prospects for investigation. There is also scope for geophysical investigation, especially Induced Polarization (IP) surveys on selected areas where disseminated pyrite similar to that occurring in the known gold veins is anticipated, especially in the vicinity of the old mines and mineral occurrences.

IN PARTICULAR:

Lacking the capability of diamond drilling the work of previous times had to rely on finding gold in outcrop or under shallow cover. New discoveries to be made following improved, modern methods may be as good as or better than known prospects.

[liquid_bull] 16/2/2011 11:55

Lets see if they can deliver

[rico_suave] 16/2/2011 11:14

watch this space

[debbiegee] 16/2/2011 11:07

Plenty of publicity

[27macca] 16/2/2011 09:56

They have also decided against a share consolidation at this stage but not ruling it out in future.

1.669 Billion shares will be in issue once the name change etc takes place, with market cap of only 15M once that occurs if it stays at this price!

Think that will be seen as very very low if they can actually start producing early revenue whilst still drilling each phase.

Very early days, but have a good feeling here ;-)

[snozzy2] 16/2/2011 09:50

Money4me/27Macca.....agreed!!..I remember reading that they would only take on the remaining 51% if the results overall were good enough to warrant the acquisition. Looking good........

[omnitrix] 16/2/2011 09:40

leaving them wanting more

still lots of uninformed and ignorant traders in this so hopefully will the need for 'patience' will leave the decent long term investors

[debbiegee] 16/2/2011 09:38

Placing at full price/last nights close but would think it was walked down for the big boys.

[marab] 16/2/2011 09:30

300m new shares to buy the rest of Orogen.

[money4me] 16/2/2011 09:15

question: would MVC take up the 51% stake if the results from the mine were poor, would they know this already?

just a query

[rico_suave] 16/2/2011 08:41

same story with you
are you ever happy?

Jenny Tulwought - 16 Feb'11 - 08:05 - 894 of 904


Not all I was hoping for:
a) No soil sample results - as promised by February.
b) No, as yet, positive effect on the dwindling share price

[mickeyb] 16/2/2011 08:27

My main concern was whether the 3 directors would join MVC as they have the knowledge / experience to make this a gold explorer / producer. Now this has been confirmed, i am confident the share price will move forward. Basically a big question mark has been removed from MVC.

With respect to the soil samples they will come, we already know there are some very high grade gold veins at this mine.

[keya5000] 16/2/2011 08:21

No probs Rico, all coming together here, more patience needed but future looks good.

[rico_suave] 16/2/2011 08:17

I see Keya my bad I misunderstood what you were implying should be more specific ;)

[keya5000] 16/2/2011 08:16

No I hold some these Rico, its obviously not suspended pending the RTO and I only asked the question.

Would not make any difference if it was only the technical element I was curious about.