Ovoca Gold Share Discussion Threads

[hazl] 26/8/2016 16:20

they keep blowing hot and cold with interest rates over there

[hazl] 26/8/2016 16:10

http://www.kitco.com/news/2016-08-26/Gold-Futures-Reverse-Higher-As-Traders-Digest-Yellen-Comments.html

[hazl] 26/8/2016 16:09

GOLD STOCKS may well improve SHG already showing signs imo

[hazl] 26/8/2016 16:08

There we have it.........golds back up....
most likely connected to the talks over in the US and Yellen.
Have been waiting to see if it would turn today!.

IMO

[mbthedude] 26/8/2016 06:45

Based on previous experience I would never hold OVG shares as a long term investment, I have made the reasons for that abundantly clear. They had one solid day a couple of weeks ago when a few people jumped in and OVG was the second biggest % riser on the LSE. This would have put it on to people's radar and as more people piled in it shot up to around 19 intraday.

I bought OVG on a Thursday and sold the following Monday its the 1 and only time I have owned this stock since 2011.

[fiachra] 26/8/2016 01:52

The oligarchs negatived cycles.

[hazl] 25/8/2016 17:00

The truth is you duck and dive out of this share even after you have made criticisms,at least I am true to myself.
This gold company is the same as any of them ,it fell back when gold was out of favour and has risen again like the rest as gold became popular again.

I cannot believe you keep giving yourselves such a hard time by keep returning to this share.....perhaps it's time to move on.
IMO

EDIT
1986?! Haven't you heard of cycles??

[fiachra] 25/8/2016 16:28

Mbthedude.i have been a shareholder since 1986. I am aware of your contributions since circa 2005.i confirm what you say.

[mbthedude] 25/8/2016 16:16

I have a grudge? That's a pretty naive assumption of yours, what I do have is 10+ years experience of how this company operates, something I guess you haven't.

I made a tidy gain on the rise from 10p to 14.25p as I spotted a momentum trade and followed it. I still expect this share will slide back down to sub 10p without some major project that they actually bring to production. Simply put they don't have anything to bring in revenue, but they spend.

History has born out my comments on their project development to date as fact and not assumptions. fiachra has been here long enough to confirm this. Establishing and maintaining licences, sourcing equipment, drilling holes in the ground all costs money and that is why they are making a loss year on year.

[hazl] 25/8/2016 14:59

I think the directors wouldn't like to read your assumptions.
I will answer your question.
I did not, nor ever would ,be selective to mislead .
I just copied a small upbeat part of ADVFN's offering that day.
... since when do people copy and paste the entire announcement?

It would not be necessary anyway because if the company was in a position of huge profits the share-price would be considerably higher.
The gold-price is down today so many companies are reflecting that.
I don't think we should speculate on why the AGM didn't have any decision made but I could guess that they haven't yet chosen which investment to make.
I am happy to wait but I am reluctant to waste time on any more posts to you who clearly have a grudge.
I have a few of these and am giving them a chance but have taken some profits along the way.

IMO

[mbthedude] 25/8/2016 11:32

You still haven't answered my previous question which relates to why you chose to copy part of the results to make it look as if OVG had made a profit in the first 6 months of 2016 when in fact they had made an increase loss of €2.1m.

Must say I had a real chuckle looking at the report of the EGM.

Irish-based shareholders in the Irish mineral explorer, who have been in a minority on the register since three major Russian investors bought into it ten years ago, are waiting to see how management will utilise the cash war chest as the sector recovers. However, they did not get a direct answer at the company’s annual general meeting last week. '

Not suprising really when the honest answer would have been more investment in our other companies and exorbitant directors salaries.

[hazl] 25/8/2016 08:58

Ha you are still here?
I don't understand your comment in the least.

I have nothing but warm feelings towards this share I am sorry you don't feel the same.
Anybody that purchased about the same time must be pleased.
It is always about timing.
Where it goes from here does rather depend on the gold price going forward!
So people have to make their own decisions .

IMO

[mbthedude] 24/8/2016 14:16

hazl

any illusions you were having that this share was moving in relation to the gold price must be now well and truly shattered

[hazl] 23/8/2016 10:22

Subscribe Follow
PLASBRYN THE jJUNE NEWS IS quite explanatory here at Investegate imo
Ovoca announces net assets of $23.1m
By BFN News | 07:28 AM | Wednesday 29 June, 2016

Factsheet Ovoca Gold EUR0.125 (OVG)


Ovoca (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. "I personally believe in the value of Ovoca and became a significant shareholder in 2015. "The company's management and board of directors have examined several projects over the course of the year, but we have yet to close on any transaction. "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." Story provided by StockmMarketwire and Ivestegate

[hazl] 22/8/2016 16:30

for you plasbryn and look at the site generally .
bozzy has done a breakdown of assets if you look back through the posts as well


imo

[plasybryn] 22/8/2016 15:20

New to OVG.
I can see cash of 7.5m euros & 19.2m euros held in investments. Total cash/cash equivalents of 26.6m euros.
The 19.2m euros - are these all invested in the one stock Polymetal International PLC please?

[hazl] 22/8/2016 14:26

boz I did send you a message but don't worry unless you're interested....sorted.

[hazl] 21/8/2016 10:08

'Dublin-based exploration firm has cash to invest, but being careful to select commodity with biggest potential

It has cash. The big question is what Ovoca Gold will do with it. The Dublin-headquartered company has gold exploration assets in the Magadan region of Russia; but its real trump card is a $27 million cash pile on its balance sheet, built up from previous asset sales.

Irish-based shareholders in the Irish mineral explorer, who have been in a minority on the register since three major Russian investors bought into it ten years ago, are waiting to see how management will utilise the cash war chest as the sector recovers. However, they did not get a direct answer at the company’s annual general meeting last week. '

from link above

[last of the mohicans] 19/8/2016 15:24

Wow SYT up 25% & MOD 18.75% in Australia on Friday.

LOTM

[fiachra] 19/8/2016 13:07

Hazel. I am t a loss as to why you apologize. I was not aware of a reply not to mind an offence?

[hazl] 19/8/2016 08:36

PLENTY ON TWITTER IT SEEMS

fiachra I apologise you caught me at a bad time recently and I did not attend the AGM.

[hazl] 18/8/2016 14:10

At last some informative and positive posts......thanks guys!

[last of the mohicans] 18/8/2016 12:13

Wow my friend did say there was a lot of talk about SYT & MOD as well at the meeting.

2 of my favourite shares right now :) :) :)

OVG turnover is interesting given the actual number of shares in issue & the amount the directors already own of it.

LOTM