OVR- EV of 3.75 million post current raise at 1 cent.
OVR is definitely one to watch. TA wise it has been basing well for 7 years which started at the end of the last Zinc run and until now has struggled to find its feet like many other resource shells.
A $1.26 million SPP which closes tomorrow and is fully underwritten by DJ Carmichael will provide 3-4 months worth of drilling at the recently acquired Trojan gold tenements from West gold post its spin off with metals X. From what i gather this was a prized asset and fortunately for the new CEO we had it spun into the OVR banner. Now the SPP closes tomorrow and the underwriting requirements will be set out next week which IMO will see some major scaling down of bids.
Just last week a 2,500 m drill program finished and is currently in the labs for testing with results due out 3rd or 4th week of this month. There is very large expectations here of expanding the shallow high grade
bonanza zone and starting a very low cost operation near term. Also note these current results were drilled using cash before the raise and also the driller which is familiar with the area requested to take half the fee as script at 0.09 cents and 6 month escrow period.
Also a big event i believe will be due end of this month is a desktop study improving the economics of the 12.5mt @ 5% Zinc project they own. This is a big one and those who know this very well know that as soon as the Andrews project has its 4 high priority targets drilled a new deposit will be confirmed and added to the existing deposit which will force market to value this from the current $0 to a economical deposit of IMO 80 million plus dollars.
There has been third parties trying to get their hands on this project in recent months and for very good reason if this was floated today it would have a minimum 10 to 15 million EV.
Current OVR EV 3.75 million post raise.
There is a lot to like here with OVR all for a very risk free price tag and very large upside near term and as most here have picked on money flow is setting up for strong runs in the very two commodities OVR runs in.
Even better is given the company has been quiet for so long not many eyes are on it and with the expected strong newsflow and the first lot of promotion and broker support in years this could very well go for a good gallop.
(20min delay)