Ovoca Gold Share Discussion Threads

[hazl] 20/7/2016 08:08

That 250000 trade explains why it was up yesterday I guess.

IMO

[hazl] 20/7/2016 08:07

mbthedude don't worry about me ...am already in profit here and have a few goldies scattered about!
We all do things are our own way but thanks for your concern.

[hazl] 20/7/2016 08:04

hey look at that large trade!

[mbthedude] 20/7/2016 04:28

hazl 16 Jul'16 - 10:14 - 6436 of 6446 0 0

"I am a bit fed up with people trying to single out this company as being different to any of the exploration companies in the same league!
Back in the day it rose as the rest of the gold exploration companies did and was 30p back in 2011.
That would have been the time to take profit."

You are still wearing rose tinted glasses hazl, sometimes you have to admit you have invested in the wrong company and if you had listened to the people who have already got the t-shirt on this company before you may think differently.

It only ever reached 30p because they had done a 6 for 1 consolidation when it real terms it was still worth 5 pence from the point of view of someone invested in 2006. Consider now that on that basis the company is trading at 6p or again in comparison 1p on a 2006 basis.

It never rose along with Gold or silver even though the Goltsovoye deposit was a massive silver play.

All of these plain simple facts tell you all you need to know about why this has never gone anywhere except down in value.

[hazl] 19/7/2016 08:27

Thursday is perhaps important from a general point of view..........

various policy decisions going on that may affect the gold price....wait and see

mode as usual.imo

[hazl] 17/7/2016 11:42

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

[hazl] 16/7/2016 17:01

a mention.

I am pleased to see that

SF Peterhouse have 4.3% OVG at date April 2016 alongside various gold and silver shares.




Every share has its risks particularly mining shares,so I am not making out that this is risk-free.Rather trying to point it is much like any gold mining company of its calibre.

Would S F Peterhouse Smaller Companies have invested in them if they didn't think there was a chance of success?

IMO

[hazl] 16/7/2016 16:16

You must have some agenda to keep posting.
Comparing 2006 to now when the gold price is where it is is clearly ludicrous.
You sure have a lot of time to waste as you seem to enjoy posting here.Yet have no shares?

IMO

OVG VALUE

'
Ovoca (LON:OVG) announced it has net assets of $23.1 million, which includes cash and cash equivalents of $7.3 million as of 31 December 2015.

HIGHLIGHTS OF 2015:

- Ongoing search for new assets and business opportunities.

- Ovoca Gold continues the litigation process connected to LLC Taymura debt. Taymura has been declared bankrupt; procedure of bankruptcy proceedings has been entered. Ovoca is the main creditor of LLC Taymura.

- In two transactions in October 2015, Ovoca's CEO Kirill Golovanov acquired 16,256,203 ordinary shares of the Company, or 18.4% of Ovoca's issued share capital.

- Ovoca purchased 5,800,000 ordinary shares in the issued share capital of the Company. To date since the beginning of the Company's share buyback programme, Ovoca has acquired 8.45% of its own share capital under the approved share buyback programme. The Company now has a total of 81,563,806 Ordinary Shares in issue excluding treasury shares and 6,895,000 Ordinary Shares.


LETTER FROM THE CEO

"In 2015 we continued our drive to settle the situation with LLC Taymura, an oil and gas company with high prospects in Siberia.

"In addition to that corporate issue, the recent improvement in market sentiment for precious metals has meant our investments there have increased in value, thus bolstering Ovoca's balance sheet.

"Additionally, there are new opportunities for the company to realize value for its Stakhanovsky license with gold prices up significantly from the end of 2015.

"Throughout 2015 we ensured that the Stakhanovsky license remained in good standing with the relevant authorities, although no field work was conducted.

"We continue to maintain the Stakhanovsky license and search for project partners. "Ovoca purchased 5,800,000 ordinary shares in the issued share capital of the Company last year.

"To date, Ovoca has acquired 8.45% of its own share capital under the approved share buyback programme which was approved by shareholders in October 2014.

"As our shares are trading at a discount to the cash and cash equivalents on our balance sheet, these buybacks are value accretive to shareholders

HIGHLIGHTS OF 2015:

- Ongoing search for new assets and business opportunities.

- Ovoca Gold continues the litigation process connected to LLC Taymura debt. Taymura has been declared bankrupt; procedure of bankruptcy proceedings has been entered. Ovoca is the main creditor of LLC Taymura.

- In two transactions in October 2015, Ovoca's CEO Kirill Golovanov acquired 16,256,203 ordinary shares of the Company, or 18.4% of Ovoca's issued share capital.

- Ovoca purchased 5,800,000 ordinary shares in the issued share capital of the Company. To date since the beginning of the Company's share buyback programme, Ovoca has acquired 8.45% of its own share capital under the approved share buyback programme. The Company now has a total of 81,563,806 Ordinary Shares in issue excluding treasury shares and 6,895,000 Ordinary Shares.

"Assets prices in Russia remain high despite the fall in the Russian Ruble, and there are few projects outside the country where we can add value with minimal risk. However, we continue to look at opportunities. "Briefly about LLC Taymura: in 2015 Ovoca became the initiator of bankruptcy proceedings of LLC Taymura, an oil and gas production company located in Eastern Siberia, Russia which was an acquisition target of ours, together with another exploration project, ETEK, for a potential joint venture.

"Ovoca is the main creditor of LLC Taymura. The court's decision about the external monitoring procedure for LLC Taymura was issued in September 2015, and while the bankruptcy process is slow, Ovoca has a very good chance to recover at least some of its lent funds.

"I would note here that this receivable was impaired by Ovoca in 2014 and 2015, but we continue to participate in litigation proceedings."'

[last of the mohicans] 16/7/2016 16:15

hazl,

Carry on living in cloud cookooland.

Just read the original post at the top of this thread.

"Interesting valuation on OVG post
MickinVest - 7 Dec'10 - 08:37 - 5532 of 5537

$55.4m in cash and investments at close of play Friday.

This does not include the $12.5m (Edit $14.5m) paid for the gold mine assets and the HUI was 565 and now 590 which would see the gold investments up $1m. There is also the sale of Norplat for $1m due early next year if all goes ahead which would bring things to a nice round $70m and just over 50p a share.

Mick"

-------------------------------
How much of that is left now?

Then workout how much went to the directors for the purchase of the properties from them.

In the meantime nothing but destruction of shareholder wealth.

LOTM

[hazl] 16/7/2016 13:35

CLEARLY you are still living in the past.
You disregard the assets that it does have.
The research that I have done above just shows me that it was activist investors that hoped to get something out of Ovoca and perhaps Ovoca didn't want to give up their company.
I have read about the oil and gas idea,though I personally would rather stick with gold plays myself.


Anyway the answer is simple if you don't like the company,you don't have to invest!

IMO

[limajane] 16/7/2016 13:27

Ovoca is one of the greatest con jobs on the aim - how they get away with it is beyond me - regulator doesn't give a fu*k about investors.

[last of the mohicans] 16/7/2016 12:04

hazl

"growth mining company"

That's you're view. Not what the company is.

Over the years its been aimed at many different things. It only changed to looking for gold once the silver deposit was sold to polymetal, for a fraction of its true worth.

So you're the one who needs to get real.

Since then the value of the company has just dropped and dropped, the gold property's they've bought from the directors have been sold on at a loss when you take purchase price, exploration expenditure etc etc into account.

They are by the way looking at oil & gas projects, if you read all the announcements in detail.

LOTM

[hazl] 16/7/2016 10:46

Ha ha .
Look at KGLD the example given alongside .
Exactly the same sort of drop......says it all for me.

Get real guys!

IMO

[hazl] 16/7/2016 10:42

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.'

[hazl] 16/7/2016 10:14

I am a bit fed up with people trying to single out this company as being different to any of the exploration companies in the same league!
Back in the day it rose as the rest of the gold exploration companies did and was 30p back in 2011.
That would have been the time to take profit.

When did you ever hear of a growth mining company give back money to
share-holders?
A rumour put about at the time I suspect.
They generally plough back money into the company.
It was unfortunate about the loan.
As I posted before they have tried to do fresh deals....see link below.



It is surely considered a growth share.
Did the company ever state themselves they were going to return money to shareholders in the form of a dividend?
I can only find this


The return for share-holders should have been in the form of a rise in The share price ,like every small goldie like it I suggest.

We have at last had a slight rise here,similar perhaps to PGD ASA and similar.
The drop back reflects the gold prices volatility at present in my opinion.

The above can only be speculation and my opinion only from looking at the history.
If anyone has real facts instead of bemoaning the fact that they didn't sell when gold was higher laster time round then I would be interested to hear them.

IMO

[last of the mohicans] 16/7/2016 08:31

Lent over $6M in Feb 14 & within 2 months the other company was in trouble & they had to write the loan off.

Who signed off on the deal?

What happened to DD on the deal?

Who's accountable to shareholders for that loss?

Directors get paid far too much in salary,for what the company actually does.

-------------------------------------
Given the number of new poster's here, I'm sure they'll all be at the meetings on 16th August, to ask the directors when, the ordinary (man/woman) on the street shareholder is actually going to get some sort of return on there investment (special dividend) or such like.

LOTM

[bozzy_s] 15/7/2016 14:40

Saw the unexpected RNS (I basically don't expect anything other than results, around or on the deadline date, from OVG). Notice of EGM. Wondered if the time had come. If they were going to liquidate the company and return 15p+ to shareholders. Sadly not (yet!).

Other goldies on my watchlist seem to be concluding farmouts (GDP) and beginning trial mining (SHG) at existing sites with PoG relatively high. Wonder if OVG will follow suit?

Small miners seem to think it's time to begin production of marginal assets. Let's see how that goes.

[hazl] 15/7/2016 08:13

thanks jhann

[jhan66] 15/7/2016 07:18

Re. Latest runs, I can only see one special resolution?
Special Resolution
7. To authorise the Directors to allot and issue equity securities as if section 1022(1) of the Companies Act 2014 did not apply.

[hazl] 13/7/2016 14:53

WELL THAT'S THE SECOND TIME I HAVE IGNORED A PROFIT...........but I think it will be worth it in the long run.......

IMO

[hazl] 11/7/2016 11:55

STILL CHEAP for the assets held,in my opinion.

[hazl] 08/7/2016 07:37

Surely many people look for a rapidly increasing share price,as gold becomes more attractive in a gold bull, in judging a successful investment,rather than an expectation of cash return?

I suppose it comes down to the nature of the business and I was lead to believe OVG would make an acquisition,which would ordinarily require cash investment initially but also ongoing, if it was a commodity-based?

It depends I suppose if it is classed as a 'growth' share or not,going forward.
Personally I prefer that rather than dividend based.

IMO

[melf] 07/7/2016 18:54

bozzy, many thanks for your response which is very much appreciated. It sounds like it's been a frustrating long term hold. I have a small position here in the hope that the increasing price of gold gives it a kick.

[bozzy_s] 07/7/2016 16:34

Understand what you're saying Melf! It's baffling. I've tried to work out the reason for the continued discount to NTAV (it's been like this for many years with OVG). In an earlier posting on here I tried to list positives and negatives of OVG.

Amongst the negatives was the continual low share price vs it's net tangible liquid assets. Even removing all cash, the POLY shareholding is worth more than OVG's market cap.

One possible explanation, provided by previous shareholders who saw inaction by the OVG management, is not a penny has actually been returned to shareholders thus far.

Former holders, some who held for many years in the hope of a capital return / special dividend, have suggested OVG only exists to provide a gravy train for management. Any assets will eventually find their way into management pockets. My counter argument was management hold a large percentage of the company and therefore a capital return / special dividend would possibly be their quickest and safest route to riches - and benefit minority holders at the same time.