31 July 2015

Ovoca ups gold resource

07/07/2011 Robert Tyerman

Russia-focused Ovoca Gold (OVG) has lifted its resource estimate at Olcha in the Magadan region to 650,000 oz. The Dublin-based company says the new formal gold resource estimate, at a modest grade of 2.2 grammes of gold per tonne of ore, follows drilling in Zone 2 and a South-East extension of Zone 1 of the project in Russia's Far East.

The new resource estimate also includes 3.59 million oz of silver at 12.12 grammes a tonne. Conceding that Olcha is a 'complex deposit', chief executive officer Tim McCutcheon says 'a patient approach to exploration is required to flush out the geological resource', but argues the drilling results imply 'high value per tonne ore'.

Ovoca's AIM-quoted shares, which have traded between 44p and 21p over the past year, now stand at 28.8p, valuing the company at nearly £26 million. They have speculative prospects.

To receive more relevant articles like this, why not sign up to our weekly newsletters? Click here http://www.growthcompany.co.uk/registration/

Tags: AIM market, Russia, Silver, Tim McCutcheon

Superb investment toolkit for private investors

SharePad is the new web-based service from ShareScope. Easier to use and more powerful. Perfect for tablets, Macs and Windows PC. Covers ALL your investment requirements.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2015

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info

 

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Quartix has enjoyed a strong start to life as a public company

Quartix focuses on US growth as earnings and profits soar 29/07/2015

Andy Walters, chief executive of telematics firm Quartix, has confirmed that the company will continue to focus on the fast-growth US market in the coming year as it reported improved earnings and profits. 

Petards Group shares nudge upwards as company hits targets  28/07/2015

Shares in Petards Group, a supplier of security technology, saw its shares rise by 2 per cent this morning as it confirmed that it is likely to hit its targets for the half-year to the end of June as a result of a switch to higher-margin products.

Earthport announces plan for Asian expansion  28/07/2015

AIM-listed financial technology firm Earthport confirmed this morning that it is to launch a new Asian headquarters in Singapore, with the aim of capitalising on the growth of South East Asia. 

Vast Resources sets its sights on Romania following fundraising  27/07/2015

AIM-listed resources company Vast Resources intends to use the £1.26 million it has raised from investors for a combination of corporate expenses and to expand its Romanian operations. 

SPARK Ventures raises £17 million and teams up with Gresham House for future growth  27/07/2015

AIM-listed SPARK Ventures, a company that invests in early-stage technology and digital information businesses, has announced that it has raised £17 million via a placing of new shares and an asset swap.

Nektan expects to beat forecasts when full-year results are released in September  20/07/2015

Online gaming technology firm Nektan Plc expects that its full-year results to the end of June 2015 will show a loss of around £5.5 million, which the company claims is 'better than expected'. 

More News