Ovoca Gold Share Discussion Threads

[hazl] 07/7/2016 15:06

moneywench, yes, and not much reaction since until now. 8-)

melf indeed

[melf] 07/7/2016 14:34

I'm new to mining stocks and I would be very grateful if someone would explain to me why this trades at such a large discount to its NAV. Particularly when most of its NAV is another LSE listed company and the remainder is cash.
Why would an investor buy shares in POLY when you can effectively acquire an interest in them through OVG at a discount.
Apologies if I'm being thick here but I really don't get it!

[monkeywench1] 07/7/2016 14:01

Director Buys were October 2015.

[hazl] 07/7/2016 13:45

directors buys not long ago.....all good signs.

imo

[someuwin] 07/7/2016 13:43

Up again I see.

[hazl] 07/7/2016 13:40

I'm sure OVG's time will come.8-)

[my retirement fund] 07/7/2016 13:30

Sorry hpg is the term pond life ok though? Have you seen them piling into Avocet?

[hazl] 07/7/2016 11:50

Seriously though we are still dependent on the gold price for day-to-day sentiment .


I am still very pleased that some people, at last, have seen the value and we are off the starting blocks!
I expect that we are on people's lists now and visibility is there .

imon

[hazl] 07/7/2016 11:40

In my experience one sure way to alienate customers is to use the word 'idiot'
perhaps you would be well suited to marketing?

[monkeywench1] 07/7/2016 11:26

No harm in trying.

[my retirement fund] 07/7/2016 11:18

Lets hope so hazl, do you think if we keep chatting to one another every half hour or so, this thread and then this share might just get spotted by the everyday pond life out there and all manner of idiots will descend upon the share and ramp it to high hell thus multi-bagging the share price from the present lowly valuation ?

[hazl] 07/7/2016 09:38

share p due a re-rate perhaps?!

[my retirement fund] 07/7/2016 09:05

18.4 pence of net tangible assets?

[hazl] 07/7/2016 08:31

bozzy.....you're the man!

excellent

[someuwin] 06/7/2016 19:49

Cheers bozzy - very useful.

[bozzy_s] 06/7/2016 19:42

OVG valuation of assets vs market capitalization


Tangible assets

POLY shares 775,000 @ £11.28 = £8,742,000 = Euro 10,184,430

Cash (balance sheet date 31-12-15) = Euro 7,340,000

Inventories & trade receivables (31-12-15) = Euro 108,000

Loans and receivables (31-12-15) = Euro 678,000

Property, plant and equipment (31-12-15) = Euro 1,331,000


Liabilities

Trade and other payables (31-12-15) = Euro 269,000


Provision for losses, expenses and income since balance sheet date

Write down property, plant and equipment to zero (having been written down from Euro 2,946,000 to Euro 1,331,000 in 2015) = Euro -1,331,000

6 months of Admin expenses provision = Euro -600,000

Dividends receivable on POLY holding US$0.13/ps (13-5-16) = US$100,750 = Euro 81,000 (approx)


Net tangible assets = Euro 17,522,430 = £15,040,712

Net tangible assets per share = £15,040,712 / 81,563,806 = 18.44p


Obviously the above is an estimate on my part. I have been as prudent as possible regarding asset valuation. As always please do your own research and report any findings back on here. Every little nugget helps us to make better investing decisions.

[bozzy_s] 06/7/2016 17:50

Cheers Hazl, yes still got my OVG! It's one of the more pleasant threads on ADVFN. I think we all have equal responsibility to keep things civil and well informed. There were a few bear arguments previously which I totally understood and fully respected. A bit of empathy for the suffering of previous shareholders was called for.

That said I'm expecting there might be one or two trader types (or rampers / scammers) who pop up this week, if OVG gets plugged anywhere. I'll deal with them in the way I usually do if it happens. Hate to see anyone being misled / lied to by serial criminals on these BBs.

But enough negativity. It's a brilliant time of year. Gorgeous weather outside. Daylight until 10pm. A home nation in the Euro semi finals. PoG and OVG having a nice run. Who could ask for more?!!

[hazl] 06/7/2016 17:32

I think it would have happened anyway boz to be honest.
It was just waiting for an event like that to trigger the gold surge.
The general stock market was due at least a correction and so on and so on.
Hope you're ok we have to look forward not back whichever way we considered best.I don't believe the future was as rosy as they tried to make out but we won't bring all that here it's bad enough on the sha thread!!Hope you are still invested here anyway.
If not all the best.

[bozzy_s] 06/7/2016 17:01

Well that was overdue! Haven't updated any of my calcs re. POLY valuation but sitting at over 1100p is >£8.5m for OVG. Add cash, assets, debt recovery, subtract all creditors (which total virtually nothing), leaves well in excess of double today's share price. Perhaps more than 3 times higher. In cash. If they sell POLY at some stage, and recover some bad debt as alluded to in results.

Congrats holders. Well done for researching properly.

Congrats hazl with this and your other gold investments.

I'd be lying if I said I was entirely comfortable with the recent gold surge, and associated share prices, as it's the result of Brexit. Would've preferred Bremain and an increase PoG but understand that would probably not have happened!

[hazl] 06/7/2016 13:46

you can change all that someuwin..8-))

[someuwin] 06/7/2016 13:44

Certainly is a quiet thread.

[hazl] 06/7/2016 13:06

8-))someuw.

BOZZY!
Where are you?


I want you to enjoy this re-awakening!

[someuwin] 06/7/2016 12:46

Cheers hazl. I see from the recent results...

"At 31 December 2015, Ovoca had net assets of US$23.1 million, which includes cash and cash equivalents of US$7.3 million"

So £17.8m worth of assets with more cash than the current market cap. impressive.

[hazl] 06/7/2016 12:31

someuwin see post 6372

There were moves to purchase further assets.
We are yet to be informed about that.



'Ovoca Gold Plc is a gold exploration and mine development company with a strong balance sheet and an exciting portfolio of gold properties in the Magadan region, Russia.

The Company has a successful track record of developing precious metals assets and bringing value to shareholders. At the beginning of 2009 Ovoca Gold sold its flagship asset, the Goltsovoye silver deposit, for $47.7mn, a near 200% premium to the Company’s market capitalization at the time of sale closing. The entire asset development cycle Ovoca completed on Goltsovoye, from exploration to feasibility study to financing and start of mine construction.

Ovoca Gold’s objective is to utilize the know-how and technical skills of its team to advance its Magadan assets to production and close value accretive transactions for shareholders. The Company has positioned itself to be the premier gold exploration company in Russia and the partner of choice for strategic investors/global gold miners seeking to enter the Russian market. Ovoca trades on London’s AIM under the ticker OVG, and on Ireland’s ESM under the ticker OVXA.' imo

[someuwin] 06/7/2016 11:37

Is this just a leveraged play on their poly holding - or is there more?