Share Name Share Symbol Market Type Share ISIN Share Description
Ovoca Gold LSE:OVG London Ordinary Share IE00B4XVDC01 EUR0.125
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 10.25 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
9.50 11.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -0.34 -0.42 8
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 10.25 GBX

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Ovoca Gold (OVG) Discussions and Chat

Ovoca Gold Forums and Chat

Date Time Title Posts
04/7/201823:05New OVG thread6,846
26/9/201620:15Ovoca Gold PLC - Mining in Russia16
15/4/201614:02MONEY FOR NOTHING THREAD : 3
25/1/201117:50OVOCA...$$$$YOU GOOD THING$$$$6,037
24/11/201007:21HAVE THEY COOKED THE GOOSE..1

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Ovoca Gold (OVG) Top Chat Posts

fenners66: The Company operates a share option plan which was adopted on 20 July 2009 and which gives employees, directors and consultants of companies within the Group the opportunity to acquire shares in the Company. The Remuneration Committee will consider a timetable for proposed awards following Admission WHAT ?! They have been doing NOTHING for the last 9 years !!!
fenners66: " Remuneration committee The remuneration committee will be chaired with effect from Admission by Mikhail Mogutov with Leonid Skoptsov being the other member of the committee. It is expected to meet not less than two times a year. Directors may attend meetings at the committee's invitation. The remuneration committee has responsibility for determining, within agreed terms of reference, the Enlarged Group's policy on the remuneration of senior executives and specific remuneration packages for executive Directors, including pension rights and compensation payments. It is also responsible for selecting individuals to whom to make grants of awards under the Share Option Scheme. " haha the enlarged group will have enlarged directors' remuneration no doubt and we know they give out cash just for attending the meetings .... to work out how much cash they will be giving out.....
oli12: Thanks. I can understand the caution here especially as many have lost money however the risk here is more than priced in. OVG trades at a significant discount to cash - let alone it's other assets. DYOR but worth a punt.
oli12: hxxp:// Latest creditors meeting ref Taymura, my Russian is rusty but it seems positive for OVG. Let’s wait for the official announcement.
fiachra: There were only two directors present Kiril and Tim McCutcheon a non executive director and former CEO. Tim came from Moscow to London on a number of occasions,seven or eight years ago,in an effort to boost the share price at Proactive talks.He sold his shares at a loss when he resigned as CEO. Kiril said he owns 18 per cent of the company which I calculate is about 15/16 million shares. These must have cost him a pretty penny. He said he is 40 years of age so I think he may want to make a success of the situation he finds himself in. Of course if gold gets to 1400 they may just sell of the Stakhahovsky Project,as they have others in the past,and put the money in the bank.
fiachra: Krill struck me as being more forthright than I had expected. He was very frank in our discussion about the effect of American sanctions on the Russian economy.He said the gold price should be 1400 dollars for the Stanovsky project(Hero OF The Soviet Union) to be viable. He wants to hold our twenty million dollars plus of assets in reserve to develop the oil projects of the company we are litigating if he should get possession of them. The bulk of our assets are in one million four hundred thousand Polymetal shares which are over nine pounds a share at the moment. He said that this money could be realised in a week in view of Polymetal'size.He said the rest of our assets are in various foreign banks. He is open to any other good projects that may come his way--other than the aforementioned oil and gas.
fenners66: "IMO they should be excluded due to their conflict." So everyone that would be voting to give themselves money would not also have a conflict of interest? Conflict with what the directors' may deem in the best interest of the company.... If this got enough support for the motion to reach the AGM it would sort this out once and for all. A vote against by the majority would lay it to rest; but then would that reduce all hope of a distribution and the share price with it. I do not think the Directors have a need for the remaining shares - they already used the methods I noted above to improve their % shareholdings - so then no reason for anyone to buy?
fenners66: And to correct you on shareholdings - from the annual accounts 2016 Leonid Skoptsov 11,656,203 Yuri Radchenko 11,656,202 Kirill Golovanov 16,256,203 Total 39,568,608 out of (excluding treasury shares) 81,563,806 Makes 48.5% Now if a nominee could be persuaded to vote the same way......... However some nominees have been able to provide shares for Kirill anyway Ovoca was notified on 12 October 2015 that Kirill Golovanov, Chief Executive Officer of the Company, had purchased 4,600,000 ordinary shares of the Company at a price of Stg 5.4 pence per ordinary share by way of an off-market transaction on 12 October 2015. Mr Golovanov purchased the ordinary shares from Trikeri Investments Ltd ("Trikeri"). Following this transaction, Mr. Golovanov holds 16,256,204 ordinary shares of the Company, or 18.4% of Ovoca's issued share capital. Trikeri no longer has any interest in the ordinary shares of the Company. Strangely they were noted as a nominee as far back as 2011
oli12: Well looking at Damille Investments most recent update, it seems they have sold their 4,382,100 shares in OVG. (5% holding). This was expected as Damille is disinvesting its fund - pleased to see this exit has happened without the share price dropping too much. Don't expect OVG to announce anything re the sale or who the purchaser is despite it being more than 5% of the companies capital... for long term suffers here that no shocker.
mbthedude: Thought you may find this an interesting read from October 2010 the company's then Cash and cash equivalents and available for sale financial assets of $47m (€ equivalent 52m) Where as of today despite the fact the value of Norplat shares have risen considerably in that period is just € 26.7 million. It also shows the lack of development and progress and missed milestones on highly prospective projects with eventual the result of paying additional $3m to related company to stop development. This company continues to lose money operationally and investing in projects owned by sister companies whilst delivering what can only be described as negative value to shareholders. Buy Ovoca Resources* at 30.75p AIM and Ireland listed Ovoca Gold* (OVG) operates in Russia – a country in which overseas investors have experienced troubles in the past… The climate and infrastructure is also often challenging for miners and the company just last year had to sell a project as it neared production as it was unable to efficiently finance it. However, this was a result of the global financial carnage of the time and the proceeds from the sale mean Ovoca now has a supremely strong balance sheet as well as a prospective portfolio of new licences… Despite this and an experienced Russian management team led by CEO Tim McCutcheon, who has previously advised numerous international gold mining companies in the country, a current 30.75p share price capitalises the company at a discount to both last reported liquid and net tangible assets… Thus, at up to 35p, I consider the shares a compelling 'buy'. Target Price 50p. In September 2008 Ovoca Gold (OVG) was “looking forward to closing the project finance in the near future and moving to appoint the lead construction and mining contractors as soon as possible” at the Goltsovoye silver project in the Magadan Region, Russia. However, as deterioration in credit and equity markets as well as the wider economic climate emerged the company concluded “the ability of Ovoca to raise debt finance in the current market was low and that any issuance of new ordinary shares would be on terms that would be significantly dilutive to shareholders. There are strict spending and work completion benchmarks that must be met to keep Ovoca's exploration and production licenses in good order and to retain property rights”. As such, the company decided to accept an approach to sell the Goltsovoye asset for $47.7 million at the time of closing – in cash and shares from fellow London traded, Russian miner JSC Polymetal. The company followed this on 20th September this year with the announcement of the sale of its 95% owned Oleninskoye gold and Pellapakh copper-molybdenum assets in the Murmansk Region of Russia for $1.25 million - to focus “financial and management resources on Ovoca's Magadan properties”. Operations The acquisition of these 100% owned current Magadan Region properties - Stakhanovsky, Rassoshinskaya and Nevsko-Pestrinskoye – was completed by Ovoca early this year. Stakhanovsky - located approximately 40 kilometres north of Susuman, the second largest city in the Magadan region, internal preliminary estimates suggest a gold resource (non JORC of Russian standard compliant) of more than 700,000 ounces and Ovoca intends to put the project into production by 2013. It is accessible by year-round road and there is power infrastructure on site. Rassoshinskaya – located approximately 200 kilometres from the town of Simchan and with no nearby infrastructure, the focus of Ovoca's exploration program is around the ‘Olcha’ gold deposit. There is a current JORC Inferred resource of 344,000 ounces of gold but Olcha and nearby satellite deposits are seen to have the potential to host a high grade, multi-million ounce gold resource. Nevsko-Pestrinskoye - surrounding the Goltsovoye silver deposit in the central part of the Magadan region, Ovoca intends to investigate and explore known mineral occurrences that extend beyond the Goltsovoye license area onto Nevsko-Pestrinskoye. A year-round road and powerline are near the site. Recent Operational Activity In its last update on 30th September Ovoca noted it had completed almost 8,000 metres of drilling at Olcha and, having already announced some positive preliminary results at the end of August, the resource is to be updated with new data “later this year”. The company is presently seeking to continue to define the ore body and ‘put ounces on the books’. At Stakhanovsky, the “drilling contractor was slightly delayed due to the logistics of moving equipment to the field, but drilling is well underway with about 6,000 metres completed” and at Nevsko Pestrinskoye, trench work started in July once the mountain passes to the site cleared of snow. Financials Results for the six months ended 30th June 2010 were announced on 30th September. The company reported a net $861,000 inflow from operating activities before working capital changes ($4.16 million after, though with both including $1.12 million of positive exchange movements). At period end it had cash and equivalents of $14.46 million and available-for-sale securities of $32.80 million. Net current assets totalled $13.87 million and net tangible assets $49.05 million. Valuation With its shares at 30.75p, Ovoca is currently capitalised at £27 million. This compares to cash and equivalents together with available for sale financial assets of $47.26 million (c.34p per share) and net tangible assets of $49.05 million (c.35.25p per share) as at 30th June 2010. The company’s project assets are thus in for less than nothing – despite their clear potential and the current highly positive gold price outlook. Some sort of ‘Russia’ discount is perhaps applicable but I noted in my recent Ortac Resouces* (OTC) t1p that 'if the resource is indeed 1 million oz, a value of $18 oz looks remarkably low whichever way you view it'. With 344,000 current JORC Inferred resource ounces of gold at Olcha and internal preliminary estimates suggesting a gold resource (albeit non JORC, of Russian standard compliant) of more than 700,000 ounces at Stakhanovsky, even $18 per ounce would add 13.5p per share to the Ovoca share price – and this before considering the evident significant exploration upside. I thus consider 50p should be an easy short-term target here and with the company’s strong balance sheet and clear confidence (already talking of having Stakhanovsky in production by 2013 for example), at up to 35p I consider the shares a compelling “buy”.
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