Ovoca Gold

• 14/05/12

  Result of AGM

• 03/05/12

  Management Change - Appointment of New CEO

• 13/04/12

  Director Appointment

• 12/04/12

  Annual Report

• 05/04/12

  Olcha Exploitation License Granted

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  04/04/12

  Ovoca Gold on the hunt for strategic partner

  Ovoca Gold is on the hunt to find a strategic partner to share in the rewards that the Russian Far East has to offer, CEO Tim McCutcheon says.

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  07/07/11

  Ovoca Gold's "significant" resource upgrade met positively by brokers

  Ovoca Gold's news today that it has revealed a significant upgrade of resources at its Olcha project in the Magadan region of Russia was warmly welcomed by brokers Davy and Fairfax.

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  31/03/11

  Ovoca Gold: A fully-funded development and exploration play

  Savvy investors know exactly what Ovoca is all about - yet the stock is still trading below value of its cash and liquid investments. Boss Tim McCutcheon tells us a little more about the company, its potentially high impact exploration assets in Russia and updates us on plans to have the Stakhanovsky mine in production by 2013.

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  02/02/11

  Ovoca Gold: Stakhanovsky could be a low-cost open pit starter mine

  It is one of three properties Ovoca bought for a combined US$25 million just over a year ago. This morning’s maiden JORC resource saw it convert 350,000 ounces of a 1.2 million ounce Russian resource, into western reporting standards. Now with the next phase of exploration already laid out and feasibility work on the horizon, Irish broker Davy reckons the junior gold company could establish a 50,000 ounce a year mining operation by 2013.

   

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  31/08/10

  Ovoca Gold’s Olcha drilling results ‘comfortably achieve commercial status’

  The 2010 drilling programme is designed to expand on Olcha's maiden JORC resource and initial results demonstrate the project's significant potential. According to Davy's resource analyst Job Langbroek, the latest grades ‘comfortably achieve commercial status’.

• 03/05/12

  Ovoca Gold appoints Kirill Golovanov as new chief executive

• 13/04/12

  Ovoca Gold appoints Kirill Andreyevich Golovanov as director

• 12/04/12

  Ovoca Gold well placed to advance targets at Rassoshinskaya

• 10/04/12

  Ovoca gold: Olcha exploitation license is an important step, says Fairfax

• 05/04/12

  Ovoca gets exploitation license for Olcha deposit from Russian authorities

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  20/10/2011

  Ovoca Gold One2One Investor Presentation - 20th October 2011 (PDF)

  Ovoca Gold One2One Investor Presentation - 20th October 2011
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  30/08/2011

  Tim McCutcheon, CEO of Ovoca Gold, talks to Proactive Investors

  Tim McCutcheon, CEO of Ovoca Gold, talks about shares trading below cash, no interest bearing debt, 1 million oz gold (JORC inferred), track record of working successfully in Russia, taking Stakhanovsky into production without additional financing, & a huge territory with lots of potential multi million oz deposits.
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  26/05/2011

  Ovoca Gold One2One Presentation - 26th May 2011 (PDF)

  Ovoca Gold One2One Presentation - 26th May 2011
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  03/05/2011

  Stocktube video - Tim McCutcheon, Ovoca Gold, says there is upside value in the share price

  Tim McCutcheon, CEO at Ovoca Gold (LON:OVG), tells Proactive Investors that the value story is very much in place and Ovoca is trading at a 10% discount to cash and the track record in place at the company makes the story a compelling one for new investors. Tim also talks about taking the Stakhanovsky project towards gold production in 2013 which will then, in turn, pay for the Rassoshinskaya development.
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  28/04/2011

  Ovoca Gold One2One Investor Presentation - 28th April 2011 (PDF)

  Ovoca Gold One2One Investor Presentation - 28th April 2011

Ovoca Gold Plc (“Ovoca” or the “Company”) was founded in 1985 in Ireland and since inception has been involved in natural resource development.  Ovoca entered Russia in 2004 with the acquisition of Norplat Limited, a company operating in the Murmansk Region which owns the licenses for the Pellapakh molybdenum-copper-gold ore body and the Oleninskoye gold ore body.

In 2006 Ovoca acquired 74% of OAO Ajax, a Russian company that owned the Goltsovoye silver deposit in the Magadan Region, in the Russian Far East directly North of Japan. Goltsovoye at the time was one of the world’s largest, highest grade silver deposits as yet un-mined. Ovoca carried out confirmatory drilling to verify historical Soviet data, established a JORC resource, completed a Bankable Feasibility Study and secured project financing to build a mine. At the time of financing, Goltsovoye had a M,I&I silver resource of 45mn ounces at a grade of 860 grams per ton, projected output of 6 million ounces per year, and a cash cost of $4.11 per ounce. Goltsovoye, once in production, was set to be the world’s seventh largest primary silver mine. The economic crisis of 2008 coincided with the financing, which was later withdrawn. As such, Ovoca sold Goltsovoye to OAO Polymetal for a cash and share consideration worth $47.7 million at deal closing on 23 January 2009. The consideration was a 194% premium to the Company’s market capitalization, and was an important success, particularly in light of the overall market condition and continuing global economic malaise.

In January 2010 Ovoca closed on the purchase of 100% of the Nevsko-Pestrinskoye, Stakhanovsky and Rassoshinskaya gold exploration and development projects in the Magadan Region. Nevsko-Pestrinskoye completely surrounds the Goltsovoye license area and Ovoca intends to capitalize past knowledge of Goltsovoye ore body extensions which are on the Nevsko-Pestrinskoye license. Stakhanovsky is a fast track development project with power and infrastructure already in place. The ore body at Stakhanovsky is not complex geologically and has simple metallurgy with potentially significant gold recoveries from gravitation methods alone. Rassoshinskaya is a potentially world class gold project which the Company is aggressively advancing.

Ovoca has three projects in the Magadan Region, Russia. The Magadan Region is located in the Far East part of the country, directly North of Japan. The region's total population is 170,000 and cities which are important for Ovoca's operations include Magadan (population 100,000), Susuman (7,800), Omsukchan (4,500) and Seimchan (3,700).

Ovoca's three properties in the Magadan Region are: Stakhanovsky, Rassoshinskaya, Nevsko-Pestrinskoye.

Stakhanovsky is located approximately 40 kilometres north of Susuman, the second largest city in the Magadan Region. It is accessible by year-round road and there is power infrastructure on site. Internal preliminary estimates suggest a gold resource (non JORC code nor Russian standard compliant) of over 700,000 ounces. The Company intends to put Stakhanovsky into production by 2013.

Rassoshinskaya is in the North Eastern part of the Magadan Region about 200 kilometres from the town of Simchan. There is no nearby infrastructure. Rassoshinskaya hosts an epithermal gold deposit named Olcha, which is the focus of Ovoca's exploration program. Olcha and nearby satellite deposits have the potential to host a high grade multi-million ounce gold resource.

Nevsko-Pestrinskoye is located in the central part of the Magadan Region near the town of Omsukchan. A year-round road and powerline are near the site. The license completely surrounds the Goltsovoye silver deposit, which was owned by the Company from 2006 - 2009 and sold to JSC Polymetal for US$47.7 million at the time of closing. Ovoca intends to investigate and explore known mineral occurrences that extend beyond the Goltsovoye license area onto Nevsko-Pestrinskoye.

Board of Directors:

Mikhail Alexandrovich Mogutov, Executive Chairman

Tim McCutcheon, Chief Executive Officer

Leonid Pavlovich Skoptsov, Non-Executive Director

Yuri Ivanovich Radchenko, Non-Executive Director

Don Schissel, Non-Executive Director

Kenneth Kuchling, Non-Executive Director

Click here for information on Ovoca Gold's Management Team

Capital Structure

The capital of the Company is made up of Ordinary Shares.

The number of shares in issue is 88,458,806

The Company does have any Treasury Shares. 

The percentage of shares not in public hands is approximately 39.19%.

The major shareholders at August 2011 are:

Mikhail Mogutov BBHISL Nominees Limited	13.59%
BBHISL Nominees Ltd	11.38%
Vidacos Nominees Ltd	9.30%
Leonid Skoptsov	5.71%
Citibank Nominees (Ireland)	5.70%
Euroclear Nominees Limited	5.03%

 

There are no restrictions on the transfer of the shares of the Company.

Number of Options in Issue are 6,640,000

Click here for further information

Updated 16.10.11

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