4027 days ago
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 asset. No-one could be.
Miller paid around the current share price for his stake – c 12.5p- which values Ovoca at less than £12 million. Following a recent disposal the company is likely to be sitting on net cash and realisable assets of at least £25 million
4182 days ago
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?
