Here is some insight for you and shareholders then. I have been a shareholder since around 2014 so have seen the highs and lows of the company. During recent times the company and it share price have been put on their heels due to liquidity sell events over the past year.
1/ Newcrest had a farm agreement with OVL and terminated in AUG 2017 as can assume they did not find what they are looking for. Price dropped from about 0.014 to 0.008 over next month.
2/ Change of MD saw share price slip to 0.005 Previous MD had 27 million shares as per last notice on 26 oct . Company failed to advise ASX on directors final notice when he left on 27 nov. . So not sure if he was part of the selling.
3/ Research house issued a sell recommendation on 19- Apr which saw the recovery from start of year wiped out and pushed the stock to its low of 0.003 , Normally don’t pay much attention to research house but this one has so much pull/clients that cannot be ignored. They did it to WCN and saw the share price wiped from 0.008 to a low of 0.001 over coming months.
4/ still to be resolved . The company will chew up most of the money raised at 0.0025 with free oppie as they need to make US 1.5 million payment for Topacio by 31-AUG . Obvious the could pay the amount, try for a extension, sell part of it or just walkaway.
I will try and let the last of my shares go at 0.006 a pip under the free oppie strike of 0.007 and just keep the free oppie in case it goes higher. Ater point 4 above is resolved I might buy again
Good luck and DYOR and I hope you are on a winner.
OVL Price at posting:
0.5¢ Sentiment: Sell Disclosure: Held
