GLG Partners Start Ovoca Gold Position ~ market folly

Tuesday, June 14, 2011

GLG Partners Start Ovoca Gold Position

Due to a regulatory filing made on June 7th, UK based hedge fund GLG Partners has disclosed a brand new position in Ovoca Gold (LON: OVG). They own a 5.44% interest in the AIM listed gold mining company.

Ovoca Gold is also listed on the ESM market of the Irish Stock Exchange (OVX). The company's principal activity is gold exploration in the Magadan Region of the Russian Federation. Previously, Ovoca acquired, developed and sold the Goltsovoye silver project to JSC Polymetal. You can view other hedge fund positions in UK markets here (scroll through).

Last year, we posted up GLG's research on the effect of analyst recommendations which was intriguing and worth checking out if you missed it as well.

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