Ovoca Gold Share Discussion Threads

[mickinvest] 12/12/2012 16:47

Quiet today, anyone tried contacting the new CEO, the last one was always happy to get back to you quick enough so I'll need to try the current lot and see how interested they are to discuss stuff.

The last reported figure for Polymetal shares was 800,000 so they must have 1.5m after this deals goes through but need to check, that would be around $27m or $1m more than yesterday morning based on the 43p rise in the POLY shares.

I'd forgotten about the payment for the assets they bought which included Olcha but it looks like it could be a good deal if the other prospects turn out to be worth anywhere near Olcha's value but I make it $11m due by year end.

That will give $38 million with no debt or £23.55m /87.3m shares so 27p a share after all debts accounted for looks to be bang on.

Mick

[ford play] 12/12/2012 08:48

Thats good, is Stally still around, or has he bailed out as well?
I remember Tokyo always had great hopes for this stock!

Quite a few years under the bridge since the infamous Liverpool Spearmint Rhino visit!!

Have you managed to gain a suitably tasty Harem around you in the sun?!!

[mbthedude] 12/12/2012 08:43

Yes mate and loving it here :)

[ford play] 11/12/2012 10:14

Good to hear from you Dudey, tis Barty. You still in Dubai?

[mbthedude] 11/12/2012 09:48

No long since departed had better things to do than leave my money attracting cobwebs

[yellow_snow] 11/12/2012 09:43

Should be 350k oz of JORC inferred resource to come soon, although with an associated payment. Anything that helps firm up the road to production should help address the valuation anomaly. Of course the strategy would probably be to sell it on as a project anyway, perhaps to Polymetal again. At this point OVG are like an outsourced exploration subsidiary for them.

[rickeyy] 11/12/2012 09:43

I would buy these only for the 3p spread operated by marketmakers.Shares would have to rise 20% to be back to breakeven.

[ford play] 11/12/2012 08:21

Still got this thread on my favourites.

Are Stally and MBtheDude still around and invested here?

[idontpost] 11/12/2012 08:14

Been looking at these for a while. Discount to cash and net assets is excessive, even with the attendant risks

[mickinvest] 11/12/2012 08:11

Just under £12m at 13.5p to buy.

I had far too many of these and underwater but still picking some up today.

Mick

[lopsidedgit1] 11/12/2012 08:07

have i this right. Mcap is £10M now.

[mickinvest] 11/12/2012 07:56

87.6m shares in issue

34p a share cash and investments.

lets be having 20p+ again.

Mick

[mickinvest] 11/12/2012 07:52

Kirill Golovanov, Ovoca's CEO, commented "We are pleased to have agreed this transaction with Polymetal which allows value to be realized from the Olcha deposit for Ovoca shareholders. We remain focused on developing our business, in particular bringing our Stakhanovsky project into production. Following completion, our cash and investments will be approximately US$48 million."


Yaldy.

£30 million smackeroonies.

[rickeyy] 21/11/2012 21:52

Russian Mafia.Is the gold still on the ship.Polymetal

[yellow_snow] 15/11/2012 14:05

It'll be interesting to see whether getting 350k oz JORC confirmed will be seen as a positive, based on perception of a further step to commercialising the resource, or a negative, based on having to make the lump sum payment from cash. Before year end allegedly.

[fiachra] 25/10/2012 11:55

Slash

Are you coming to Dublin?

[seeder] 11/10/2012 20:55

forget it.

[fenners66] 11/10/2012 12:43

This is seemingly overlooked too, but perhaps with good reason.

[cockerell] 11/10/2012 11:07

npp62 - if you're interested in an undervalued producer with a big resource and targeting 120k oz this year, take a look at Archipelago Resources (AR.) - it does have emerging market risk (though a major local shareholder mitigates against that) and the share is illiquid so it can be a frustraing one. However, dyor - I'm not currently invested in it but have been in the past. It's an interesting one and seemingly overlooked.

[yellow_snow] 05/10/2012 07:21

They had an initial stockpile of 5k I think which may have been at a lower grade, 1.2 g/t was mentioned at some point. There may be technicalities in terms of actual commercial sales given the permits situation etc.

[fenners66] 04/10/2012 18:30

Surely at 2.6g/tonne the 16,586 tonnes would yield 43kg of gold, thats 1514 oz at $1792 /oz thats a value of $2.7m.

There's not been a mention of generating $m in gold sales yet thas there?
So either the 2.6g/t is flawed or they are just not telling anyone....