Medavinci was previously an investor in a group of portfolio companies focussed on innovative technologies, products and services within the Health and Wellness markets. However, as highlighted in the circular to shareholders dated 9 August 2010, the Company has recently re-focussed its investment strategy to one focused on companies involved in mineral exploration and production in Europe.
The company has re-focused the investment strategy of the company to one focused on companies involved in mineral exploration and production in Europe. As part of this re-focus the company successfully raised 842,042 in August 2010 and made an investment in Orogen Gold Limited in return for a 49% shareholding.

Orogen Gold Limited (Orogen Gold)
In August 2010, the Company invested 370,000 in Orogen Gold Limited for a 49% interest in the enlarged issued share capital. Orogen Gold is an Irish company incorporated in April 2010 for the purpose of holding investments in companies involved in mineral exploration and related activities. Its initial focus will be on the Deli Jovan Gold Project, a 69 sq km permit area in eastern Serbia covering two shallow underground gold mines that were last in production pre World War II. Under an Earn-in Agreement with TSX (Toronto Stock Exchange) listed Reservoir Capital Corporation, Orogen Gold has the right to an initial 55% interest in the Deli Jovan Gold Project, if it spends a minimum of approximately US$1.5 million on exploration by June 2012, and a further interest of 20% will be obtained upon an additional spend of approximately US$2 million by December 2013, giving Orogen Gold an aggregate interest in 75% of the Deli Jovan Gold Project.

On the 3 Dec 2010 MedaVinci raised 1.5m for Serbian mines
http://www.moneyam.com/action/news/showArticle?id=4025163&epic=RNS_4024691

The directors are holding about 23% of MVC, There will soon be a name change and a new Web Site
Medavinci plc. Web Site
http://www.medavinciplc.com/company-reports/medavinci-plc-gold-strategy-october-2010
Update on Deli Jovan Gold Project 9 Dec 2010
http://moneyam.uk-wire.com/cgi-bin/articles/201012090700086350X.html
Medavinci_plc_Gold_Strategy_October_2010
http://www.medavinciplc.com/files/medavinciplc.com/Medavinci_plc_Gold_Strategy_October_2010.pdf
Reservoir The Company MVC Acquired the project Reservoir Retains 25%
http://www.reservoircapitalcorp.com/s/DeliJovan.asp
The Hidden $884 Million Goldmine of King Alexander I By Byron King | December 8, 2010 |
http://energyandscarcityinvestor.agorafinancial.com/2010/12/08/the-hidden-884-million-goldming-of-king-alexander-i/



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Results RNS in full here:-
http://moneyam.uk-wire.com/cgi-bin/articles/201102160700093035B.html

Chairman's statement:-

I highlighted in my interim statement my belief that we have now secured an exciting future for Medavinci plc by re-focussing the Company's investment strategy to that of a gold mineral exploration and production business.

The Deli Jovan gold project in Serbia is progressing well and we are encouraged by the recent report from SRK Consulting (UK) Limited who stated:

"SRK considers likely that a small scale mining operation can be established and sustained at Deli Jovan using handheld pneumatic drilling equipment. The current constraints on operations are the unknown processing recovery and the limited information on the continuation of the ore zone outside the known working areas. The target of 30,000 ounces per annum as set by Deli Jovan Exploration d.o.o could be achieved, on the condition that the historically reported widths and grades can be substantiated by the DE exploration programme."

The Board has today announced that the Company has exercised its option to acquire the remaining 51% interest in Orogen Gold Limited ("Orogen Gold") that it does not currently own, subject to shareholder approval at a General Meeting to be held on 4 March 2011. Orogen Gold will become the Company's main trading subsidiary and the Company will move from being an investing company to a holding company whose main activities (via its subsidiaries) consist of exploring, appraising, and developing gold deposits in Europe. Furthermore the Company has now changed its accounting reference date to 31 December, to coincide with that of Orogen Gold and the operational business. The Company has made a separate announcement relating to the exercise of the option in relation to Orogen Gold and an admission document, prepared pursuant to the AIM Rules, will be published and sent to shareholders shortly.

Upon completion of the acquisition, John Barry, Edward Slowey and Alan Mooney, directors of Orogen Gold, will join the Board as non-executive Chairman, Chief Executive Officer and Finance Director respectively and the name of the Company will be changed to Orogen Gold Plc. Adam Reynolds is to remain on the Board as a non-executive Director and Paul Foulger, Glyn Hirsch and Michael Hough are to stand down from the Board.

Deli Jovan represents our first gold exploration project and in line with our new strategy we are reviewing a number of other mineral exploration opportunities in Europe and Asia that are at varying stages of advancement. Shareholders will be kept fully informed of any new developments.

We have a strong team within the Company and a tremendous project in Deli Jovan. This together with our commitment to introduce new mineral exploration and development projects to the company will ensure an exciting development of our business and presents substantial scope to add value as our work proceeds.

I am looking forward to the coming year with confidence.

Adam Reynolds
Chairman
16 February 2011

kim
cheers kim im still posting from me phone.

I hope that means you are outside in the sun driver?! :o)

kim
Afraid not ive got Man Flu, im away from my pc visting my daugher in Harrogate she's not very happy me visting with man flu, so i have to make me own tea. Daughters who'd have em.

Aah, you have my sympathy. Seems you won't get that in Harrogate though! I hope your daughter has a sufficient supply of scotch in the house; it's the only cure for Man Flu I find!

Kim
Just ask yes she,s got some will try later with some lem sip. The wifes back in london couldn't wait to get rid of me.

Women can be sooooo mean!! ;o)

Except my wife and daughters of course (just in case they looks at this)!

The new M/Cap will be about 15+m when the new shares are issued MVC looks cheap at this leval at this stage, happy to hold here and will be adding.

No worries here, added a few late Fri to round of my holding a bargain at this price.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS 2011

Admission document publication date

16 February

Latest time and date for receipt of Forms of Proxy

11.00 a.m. on 2 March

Time and date of General Meeting

11.00 a.m. on 4 March

Completion of the Acquisition, Admission and commencement of dealings in the Enlarged Share Capital

8.00 a.m. on 7 March

Change of Name to become effective

7 March

www.medavinciplc.com (website to be updated from date of admission to reflect change of name and change of business)

Expected market capital on admission: 15.86 milliion

Nice bounce of the .8, lots of news to come in the next couple of weeks. The chart is looking much healthier now.

OROGEN GOLD FINDS NEW LIFE IN OLD MINES

Monday February 28,2011

http://www.express.co.uk/posts/view/231694/Orogen-Gold-finds-new-life-in-old-minesOrogen-Gold-finds-new-life-in-old-mines#ixzz1FESGIt7X

All systems go for next week.

MedaVinci shareholders approve Orogen reverse takeover

Shareholders in MedaVinci plc today (Mar 4) approved the company's acquisition of the remaining 51% of Orogen Gold Limited and a change of name to Orogen Gold Plc.

The name change and readmission to AIM following the reverse takeover are expected to become effective at 8am on Monday.

Conditional on admission, John Barry, Ed Slowey and Alan Mooney will be appointed as chairman, CEO and FD respectively.

Paul Foulger, Michael Hough and Glyn Hirsch will step down from the board but Foulger will continue as company secretary.

The company said its planned re-opening of access to the historic gold mines at Rusman and Gindusa at the Deli Jovan Gold Project had now been approved by the Serbian Ministry of Mining and Energy.

JV company Deli Jovan Exploration will appoint a local contractor to begin rehabilitation of the old mine workings, which will facilitate detailed mapping and sampling of the workings.

Shares rose 0.04p to 0.99p.

Full RNS

http://moneyam.uk-wire.com/cgi-bin/articles/201103041120303572C.html

Post from the other side who attended the meeting courtesy of apavlovic

All,

I have attended the meeting this morning and was unfortunately the only private share holder to do so. There were several people form MVC, NOMAD, brokers etc.

As you know all resolutions proposed by the company were passed without any objections.

In addition to the info you already know I have picked up the following:

Obviously top priority for the company is Gindusa and Ruslan mines.
They have received forrestry permit this morning. They have a very good network in Serbia and I have spoken to John Barry from Orogen regarding their future plans.

As you know they are targeting 100k oz and undertaking detailed structural mapping,

He said it would not be cost effective at this stage to go beyond the 100k planned. Target is 10g per tonne and current prices break even is around 3 4g per tonne.

Grades are excellent and made the point that this mining operation is about quality V.s quantity. It is about mining selectively, narrow corridors under ground. There is of course potential for wider widths and this will be looked into later. Key now is to mine @500T/day.

I have a very good feeling about this project because I know form the local contacts who cannot see this not going commercial. John Barry said that this project is ideally suited for a smaller company like them and would never be cost effective for a large company. Therefore keep in prospective some of the press reports about a world class mine etc. need to keep this into context. It is not going to be BOR which is next door, different ball game.

I think what they have going here is the local expertise. Some of the names of the geologists like Alex Obrenovic and couple of others who have local expertise. Alexs father used to work in the ministry so obviously well networked. For that matter so am I and can confirm that I do not see any corruption or delays which is something typically to be expected in Eastern Europe not to mention some other countries. Western companies in particular are very welcome in Serbia and the board have absolutely confirmed that. They were able to meet with the minister of mining at short notice and in some countries that would take ages. Been very welcomed!

Do not underestimate local expertise in Serbia and their geologists. A lot of work was done my Serbians abroad in particular countries like Mozambique (see BAO) board. Therefore the costs structure using locals will be in our favour. I should also mention and they agreed that that this mine was ignored previously ignored for political reasons. Gold was associated with Capitalism!!!

Where do we go from here? Mine has not been accessed due to adverse weather conditions being winter time. They have received approvals to do so now and are planning a trip there over the next couple of weeks when snow melt will start. They are flying in a Spanish named geologist to assess the Health ands Safety aspect before any work can be undertaken eg sampling. As you all know the mine was abounded due to water problems and we do not understand the extent of that issue now. Perhaps someone with more knowledge can comment on this and to me this is my only worry at present (unknown).

John is a very knowledgeable guy and very approachable and pleasant person. I will drop him an e mail and keep in touch and offered to help them. We had a little banter when I told him about my background so hopefully we can build a little rapport. I am gong there hopefully for Easter holidays and will of course go there to visit and take a few photos liasie with guys and see what else I can find out.

Must not forget about future plans. They confirmed they are in talks and looking at new projects. He hinted in advance talks on some but do not expect RNS in the near future. They are looking at new projects in mining further east. Hopefully not Uzbekistan.

There is clearly lots of opportunity for them. I am very comfortable with John but be frank not sure about the others and their knowledge. Got an impression they are new to this all.

Not sure what everyone expects on Monday but apart fro a change of ticker and a new web site. That is all from me and if any questions please ask. I felt a bit funny being the only one to ask anything so did not want to hijack the meeting and left after being there for 35 mins.

Hopefully wil get sme press exposure in Serbia because so far there has been none and for a very valid reason. Why advertise medavinci.

For the record I post as Sasa on iii but mainly on MSB board although we do not have at thread (yet)

NEW THREAD FROM MONDAY.











.

The New Web Site is up and running.


http://www.orogengold.com/


NEW THREAD

http://www.moneyam.com/InvestorsRoom/posts.php?tid=15721#lastread