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Synnovia (Plastics Capital as was) – trading statement; is a 10%+ forecast reduction really “broadly in line”?!
Hello, Share Polishers. It was about 2 years ago that my brilliant friend Gary Newman suggested I might buy shares in Ovoca Gold (OVG). I was a bit worried that it was based in Russia, which doesn't always attract Western investors. But a Gary tip is a Gary tip and so I went ahead.
Hello Share Guzzlers. Acting on information from two quarters on this glittering website, over the last week I’ve invested quite a lot of loot in a couple of penny shares.
Many AIM companies look vastly overvalued and are largely reliant on sentiment revolving around the future development of assets in the ground to support their market cap.
In my last coverage of Ovoca (OVG) I asked you whether a company should ever be valued at less than cash. Today I cover the remaining assets of this company that is valued at less than half the worth of its liquid assets. It's valued at £8.5 million and it probably has cash of £20 million on the balance sheet.
Should a company ever be valued at less than its net cash position? I draw your attention to Ovoca (OVG) - a small Russian gold miner that has a market value of £8.95 million.
It emerged late yesterday that Damaille Investments, the vehicle of asset stripper Brett Miller has taken a 5% stake in failing gold explorer Ovoca (OVG) and it is not because he is impressed by its Russian exploration assets. No-one could be.
I recommended shares in AIM and Ireland listed Ovoca Gold (OVG) in my t1ps.com days (in this case in October 2010) at 30.75p. They rose to above 38p in December of that year but have consistently fallen back since – hitting 10p in June of this year. Currently trading at 12p, I apologise for a recommendation which has clearly not worked out to this point. Perhaps it is time to cut losses? Or is this a red hot penny share in the waiting?
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