From previous experience in other plays, it would probably head...

From previous experience in other plays,
it would probably head upwards before consolidating once more. It really depends on other figures such as NPV, IRR, expansionary capabilities of the deposits. At the moment, i believe that there are a higher number of long term shareholders in OVR and a handful of traders to sell on the spike. Most of the traders have sold off their holdings on the way down and moved to other plays.

A tight register is a good thing to have when significant news gets released and markets start to rerate the firm based on the news and impending potential. On a downturn, a tight register is not a good thing to have and hence the share price will head down based on low liquidity. The key here is to look at the volume up and the volume down...the discrepancy is obvious.

In my opinion, the market cap of OVR is undervalued. It's share price should be about 30% of its NPV [i.e. 35cps - 40cps] based on previous resource figures. The latest results should see them much higher then the current market capitalisation. The only issue with OVR is its promotional acumen. But i rather have that discrepancy then a bad deposit with red flags.

OVR have two open cut, high grade, shallow deposits with thick intersections and continuity in its mineralisations. Granted, there will need to be further drilling at the Darcy to delineate a bigger resource but the fundamentals are on solid footing. I am personally interested to see their new geologic model and DFS calculations.

The current share price reflects a consolidation period due to the recent surge. In my opinion, it will eventually head to those prices [i.e. 40cps] in quick time and break towards the upside.