CVI - CVI Energy Corporation

[skiper]

Re: CVI - Cityview Corporation

My favorite read out of Resource stocks Magazine-

And Quote
"In the cameroon we have acquired the right to the North Matanda oil permit and are also negoitating for another permit within the Southern Portion of the Niger Delta. In addition we have also been offered a permit in Gaboon and in the Congo as well.

So hopefully by the end of the year we will have 5 oil permits in four different countries"

Cityviews projects in Angola and the Cameroon are falling into an orderly procession. First up it's about to drill the Catabola copper-gold prospect at Longonjo.
Secondly the company is looking forward to obtaining the onshore oil concession in Angola and thirdly acquiring the major oil concession in the Cameroon.

What is really exciting for Cityview is any one of these three Projects is a potential company maker.

 

[skiper]

Re: CVI - Cityview Corporation




Looks like CVI are setting themselves up to be a major player in West Africa.

ASX / MEDIA RELEASE December 6, 2007

Restructuring of Longonjo & Ucua

CityView advises that in order to enhance its focus on its oil and gas interests in Angola and Cameroon, it has decided to restructure its Longonjo and Ucua holdings. As part of the continuing development of its operations in Angola, it has agreed to transfer its Longonjo and Ucua holdings, subject to contract, to Fortitude Minerals Limited (“Fortitude”) for 15 million shares of Fortitude at a price of US$1.39 per share (US$20.85 million).

CityView already owns 1,700,000 shares of Fortitude and upon allotment of the above shares will own a total of 16,700,000 shares out of a total issued capital of Fortitude of 51,700,000 shares, subject to the issue of any further shares by Fortitude to raise working capital.

CityView plans to lift its holding in Fortitude to a controlling interest through a combination of further share subscriptions and share acquisitions. It is the current intention of Fortitude to apply for admission of its shares to trading on AIM or another appropriate public market during 2008.

Fortitude owns, through its subsidiary Zebra Copper Limited, nine exploration licences in Angola covering prime mineral acreage in aggregate over 15,000 sq kms. Included in this area are five copper licences which run for several hundred kilometres along the western seaboard of Angola and encompass the greater part of the Upper Cuvo formation. Copper mineralisation has been reported along the entire length of the Upper Cuvo formation and could potentially be a new copper province.

Included amongst the copper licences is Cachoeiras de Binga on which over 6,000 metres of core has been drilled. A non JORC compliant resource of 7.1 million tonnes of ore grading 2.14% copper has been defined there already. The immediate objective of Fortitude is to bring this resource to a JORC standard.

Also included in the portfolio is the Chipindo gold licence area with high gold grades reported in artisinal workings. Its geology is similar to the Minas Gerais gold area of Brazil.

Fortitude has identified a first class management team with a proven track record and a skill set that is appropriate to implement the work programme. The Chairman of Fortitude is Ian Egan who was formerly General Manager Non-ferrous Metals with BHP. He is currently a non executive Director for Kenmare Resources plc, which is developing a large titanium minerals project in Mozambique.

Fortitude lifts CityView to a new level in Angola through its wide spread of company-making projects and underpins the underlying value of CityView.

 

[da_franks]

Re: CVI - Cityview Corporation

This is very exciting times for CVI holders, with The MD saying on BRR we will be $1 by Xmas.

skiper... on what date did he say that? I've been going through the audio events on BRR, and I can't find that comment.

 

[prawn_86]

Re: CVI - Cityview Corporation

frankly i dont think an MD would actually be allowed to set a price target, as if it failed to reach it he could be held responsible, not to mention insider trading ethics.

Only a few weeks to go and we will know if both the MD and Skiper were lying...

 

[grace]

Re: CVI - Cityview Corporation

skiper... on what date did he say that? I've been going through the audio events on BRR, and I can't find that comment.

From memory of the BRR interview, they said they would like to list in the US but generally, the yanks like shares over $1 and that might be a big ask....or something like that in the near term. I don't think they were stating that the share price would be $1. Please advise if you think my listening skills are wrong. We all make mistakes.

 

[da_franks]

Re: CVI - Cityview Corporation

Grace, that's correct.

He is what he said, pretty much word for word on the 30th of November (I've taken the liberty to remove all the 'umms' and 'arhs'):

"Americans like shares, quite frankly, which trade in excess of a dollar. Obviously I'm hopeful that Cityview will reach that level, but it's a bit premature, I think, at the moment. When I do get Cityview to the level where it can be traded in America, I'd like to upgrade our listing from the OTCBB up to the American exchange, and I'm already having discussions about this."

However, I've gone through all the audio events, and at no point did the MD say that the share price "will be $1 by Xmas". Please, correct me if I'm wrong.

 

[da_franks]

Re: CVI - Cityview Corporation

Thanks for the reply.

I'm not questioning whether CVI is a good investment or not. I personally think it is a very good investment myself.

But you said, and I quote: "The MD [said] on BRR we will be $1 by Xmas". Personally, I think what you said is a falsehood, and very misleading, and cannot be classified as harmless "spin". From his remarks, it is obvious that he is "hopeful" that the share price will reach $1, but he also thinks that it's a bit "premature at the moment" - "at the moment" being November 30, which was only a little more than a week ago. And never is there any mention by Mark, of the share price being at X amount of cents or dollars by Christmas. As far as I'm aware, the only mention of Christmas, in all publicly available information, is when it's in relation to the completion of project stages. His remarks, although positive, are far different from what you have purported.

If you want to prove me wrong, then my question to you is: In which BRR audio event did he say "BRR will be $1 by Xmas."? Please, above all else, answer me this.

 

[prawn_86]

Re: CVI - Cityview Corporation

It is good to see new members questioning things Da Franks. Welcome to ASF

Skiper, in the future if you 'quote' something from BRR or any source please provide the link for those who are interested.

And your attempt to insinuate that you have been given insider information:

not worth mentioning what the Co. Sec Paul Williams told me over the phone numerous times

is little more than a ramp, even though you did mention it to be heresay.

Recently in this thread you have posted very few facts, and have resorted more to implications.

Admitedly a SP can rise dramatically on the back of a big announcement, but my question is this:

If these so called company making announcements are known to be coming by you, and the market, then how much of it is already factored into the price?

One could argue quite a bit has already been factored in as the price has risen from approx 6c to over 30c in a couple months. So therefore your comparison to INP is not valid, bhecause as i remember, INP's announcement came out of nowhere (was not expected by the market) hence causing such a great rise.

 

[Annwn]

Re: CVI - Cityview Corporation

CVI closed down at .30 on Fri and how many days to Christmas!!!

The chart says it all, has had a good run up since the middle of the year, 250% increase

 

[da_franks]

Re: CVI - Cityview Corporation

http://www.sonangol.co.ao/wps/porta...QnB3LzZfMEczTzBGTFUxRDBPSDhRMzlCMzEwMDAwMDA!/

Looks like its bidding time for some of the oil concession blocks in the Angola region. Of interest, are blocks KON 11 and KON 12. On initial investigation, I thought these were the 2 blocks that CVI want awarded. But upon further investigation, it looks like CVI wants to grab blocks KON 10 and KON 13 - both of which are just to the left of KON 11 and 12. That's the conclusion I get when I super-impose the licensing map onto the map which is provided in the November 2007 CVI power-point presentation. What do you think people?

 

[dascore]

Re: CVI - Cityview Corporation- A Technical Look

CVI has a short term failure of a symmetrical triangle, breaking out to the downside....if all the news about projects in Angola and Cameroon turning out well soon, there might be a rebound at around the apex of the symm triangle soon. Otherwise if this does not happen, there might be more downside to come ( hope not!)


The swing indicator at the bottom of the chart showed there were short successive swings within T+3 days ( T=transcation day) , so that for those on low brokerage, you can even complete your trades without paying ( contra trades) up to your broker if you were trading the past few months

We are hitting the indicator low around now - observe the past lows, we are almost there - and so looking for a rebound before X'mas ( may be anytime ) might not be misplaced...so let's watch.:

Disclaimer: My charts are for information and entertaintment only. Trading carries RISK. I'm not an adviser and not licensed to give any advice to trade. DYOR - and consult your licensed broker or financial advisor if you wish to trade. You are responsible for your own risk!!

 

[da_franks]

Re: CVI - Cityview Corporation

Well. It looks like skiper is going to be wrong, not that CVI isn't a worthwhile investment in my eyes.

 

[prawn_86]

Re: CVI - Cityview Corporation

Yeh, i think we all know now what Skipers intention was. Hopefully no members got burnt

Although there's still time...

 

[Trader Paul]

Re: CVI - Cityview Corporation



Hi folks,

CVI ... recent shareholder updates have given some good
insight into company activities, in Africa and here's some
astroanalysis for the next few months:

02012008 ..... positive news expected here.

10012008 ..... minor and positive light on CVI

15-16012008 ..... significant and negative aspect

22012008 ..... minor news

04-05022008 ..... minor news

08-11022008 ..... minor and positive ... finance-related ???

04032008 ..... minor

06-10032008 ..... 2 cycles - news brings positive spotlight on CVI ...

1703-02042008 ..... 4 time cycles come together here ... with BIIIG
news expected, around 28-31032008

..... and traders should see more "CVI fever", in June, November and
December 2008 ..... more later .....

have a great weekend

paul



=====

 

[Wilson!]

Re: CVI - Cityview Corporation

Hi everyone
As I have posted elsewhere, reckon CVI trend has bounced back up again, and s/t target of 28c

It seems a lot of the drop recently was due to uncertainty, and fridays audio broadcast has restored confidence, and seems the market realises it was way oversold.

If it then breaks above 33c target, then we should see a good rise, as long as it is supported by positive news of course

t4p has targets of $3 to $10 for end of 2008, whether you believe what he says or not, I would certainly be happy with that

Anyway, news on financing and their other projects will see this go nuts early in 08


Good luck to all and hope you all make a motza today

Cheers,
Wilson!

 

[Boggo]

Re: CVI - Cityview Corporation

From a basic Elliott perspective and based on the assumption that the recent low at $0.205 was the completion of a wave C, then the initial target is $0.32 with a 0.618 projection of $0.39.

PS. I do hold.

 

[Wilson!]

Re: CVI - Cityview Corporation

Bogo, getting closer to your initial target there.
Great day today and I imagine holders, incl me, would be very pleased

 

[skiper]

Re: CVI - Cityview Corporation

Trading Halt........

"The reason for the trading halt is that the The company is preparing to make an important announcement relating to "Kwanza Basin Angola" which is likely to affect the Company's share price but cannot be released immediately."

 

[bigger2008]

Re: CVI - Cityview Corporation

Tarnor

Things have gone a little quiet here on the cvi thread of late, in contrast to somewhere else.....but we will not go there. Frankly, who would want to?

Anyway, cvi has been hit and hit hard of late. Last sale .17

I wonder if you hold today after the retrace in cvi?

I hold and intend to continue to hold as I believe the future is very good for cvi.

Lets see.

 

[bliimp]

Re: CVI - Cityview Corporation

I recently began to question where CVI was going, especially with the recent “Angolan Diamond Announcement”, whereby :-

1. Endiama (the national diamond company of Angola) … will guarantee for the first four years a minimum net income to Canzar of US$12.5 million per annum.
2. Endiama have confirmed that if any of the nominated kimberlites are not commercially viable, they will be replaced with other commercially viable kimberlites

I mean, while CVI waits for action on the main game of oil and gold and copper … out come the diamonds! ... Where does it stop! ... It’s like getting “6 steak knives” thrown into a deal … and wait for it … with a "4 year replacement value guarantee” !!! ..... please!

Anyway, I did a bit of “googling” and out came New Millenium Resources Ltd (NML), formerly listed on the LSE (AIM), with Head Office … of all places … Perth in WA.

Their last month’s Shareholder Update essentially details the rise and fall of a diamond venture in Angola …. A venture, which for all intents and purposes should have been a company maker, but turned into, well, you could almost say, a company breaker!!!

And it puts into context the recent “Diamond” announcement by CVI.

This article raises many, many questions, relating to :-

1.The constant mention of uncontrollable forces (read what you may into that)!
2.The continuous intervention and harassment of the locals ... and the actions of “big bully” ENDIAMA!
3.The fact that NO new foreign company has been able to mine diamonds since the end of the civil war … and 26 have tried since 2002!
4.The 3 kimberlite concessions offered to CVI … Q? Are they the ones that are currently “owned” by NML?
5.The absolute lack of any buying interest around London and Europe of NML’s Angolan diamond concessions, plant & equipment!

And yes, you guessed right … NML had plant & equipment and were actually mining the stuff!

I must admit, I admire Mark Smythe … he appears to be a classic deal-maker, a real doer and a real go-getter … but are these Angolans stringing him into an endless maze of long and winding roads that leads to nowhere but empty promises, down-payments, and a never ending stream of share-placements!

Maybe NML just got it completely wrong!
Maybe NML did not know how to control the “uncontrollable forces” in Angola!
But what about the other 26 foreign companies! … Did they also get it wrong?

The one concession I have with CVI is that :-

1.CVI ‘s main game is oil and gold and copper … maybe a different game is played in Angola with these resources compared to diamonds
2.CVI has interests in potential company making operations in Cameroon and other countries; thereby de-risking the Angolan factor

Anyway, read it straight form the NML Shareholder Update of 18 December 2007 in :-

http://www.new-millennium.com.au/co_news.php

Or below is an extract of the full announcement.

Angola Alluvial Diamond Project
The Company’s acquisition of alluvial exploration concession C9 in Angola commenced with great promise in 2003. We were able to set up a camp and deliver substantial mining equipment to the site located at Lapi near Saurimo in north eastern Angola. We had good experienced staff and a well funded operation. Production commenced in April 2005.

From the moment we commenced production we experienced continuous intervention and harassment from various local parties culminating in an order from ENDIAMA to cease operations. In frustration the then CEO John Cross resigned in October 2005. Shane Healy, then CFO, was pressed into the role of acting CEO.

There have been approximately 26 foreign entities which have entered Angola since cessation of hostilities in 2002 with a view to mine alluvial diamonds. All have been unsuccessful. To date there is no diamond producer in Angola who was not there either prior to or during the civil war. All new entrants have either wound down operations or withdrawn from the country completely. A combination of uncontrollable forces has made it impossible to mine alluvial diamonds profitably in Angola.
The singular success in Angola has been Petra Diamonds. Petra entered Angola during the civil war and is therefore not a new entrant. It is worth mentioning however that Petra is producing no diamonds commercially out of Angola. Petra’s success has been a kimberlite (hard rock) diamond concession which it is exploring in joint venture with BHP.

Kimberlite Diamond Decision
During 2004 the market became aware of the difference between alluvial and kimberlite diamonds. The market also became aware that none of the big 4 diamond producers have significant alluvial deposits. All are kimberlite. With the market’s lack of interest in alluvial diamond miners, the Company moved to secure an interest in a kimberlite concession.

Our first approach was to seek a license to explore the kimberlite which we knew existed on our C9 concession. C9 abuts the largest, and only, kimberlite diamond producer in Angola, Catoca. Catoca is Russian, owned by Alrosa, one of the big 4 diamond producers. Through uncontrollable forces, we were prohibited from exploring any of the kimberlite areas. Catoca had in fact entered our concession, with government authority, and carried out extensive drilling on C9 whilst we were exploring for alluvials.

After Catoca's drilling programme, pressure was put on us to abandon the concession. Access became difficult, deliveries went missing and our Angolan partners became impossibly demanding and obstructive. We made representations to the government and to our Angolan partners, without success. The writing was on the wall, we had to look elsewhere for a kimberlite interest.

Kimberlite Acquisition
The Company acquired a 20% interest in three kimberlite concessions in March of 2006. The acquisition cost was high due to the de-listing of the Company’s shares from the AIM and the high demand for kimberlite concessions in Angola. We were not the only company which had knowledge of the kimberlite imperative.
Prior to acquisition, the board sought an independent geologist’s opinion as to the value of the Company’s 20% interest in the three concessions. Our geologists reported that our interest was valued at approximately US$20 million (£11m). The acquisition was achieved by the issue of almost 1 billion NML shares valued at £5m. We issued shares in a company (NML) which had no listing, no assets except past losses and US$2m worth of used plant and equipment in Angola.
Our interest in the three kimberlite concessions in Angola is a free carry. We have neither management control nor requirement to contribute proportionately to the project exploration costs. To date the Company still holds these assets; however the projects stand idle due to problems in Angola, not the least of which is lack of funding, which puts at risk these concessions.

De-Listing from AIM
The Company’s shares were delisted from AIM in March 2006 after the Nomad resigned unilaterally. The crux of the resignation issue, though unstated, has to do with the issue of stock to acquire the kimberlite assets. We believe we have grounds for legal action against the Nomad and broker.
We believe it is the shareholders’ desire that there be liquidity in the shares and that the shares be listed on a public market/exchange. We have sought another listing since that date, however the Company’s balance sheet (historic losses) has proven a difficult problem to overcome.
An alternative to listing is to be acquired by or a reverse takeover of a listed company. To achieve this, the company has to be attractive to a potential suitor. NML must have something that a suitor wants. After a year flogging the diamond assets around London and Europe it became clear that the market no longer had an interest in Angola. With this knowledge we proceeded to look for an acquisition which was not in Angola and not diamonds but still in mining.

Takeover of NML
Contemporaneously, we have been in discussions with a US registered corporation, to acquire New Millennium (NML) for a share swap. Based on the DRC copper assets, our diamond interests and our mining plant and equipment in Angola. The US entity was prepared to offer US$26m in stock for NML. This would return to shareholders approximately US$0.02 per share.

Assets
The Company has three material assets. A 20% indirect interest in three kimberlite diamond concessions in Angola; mining plant and equipment in Angola and shares in Hudson Resources of Canada. Your board has moved to liquidate all these assets. There has been no interest in the assets located in Angola. We have been successful in liquidating part of our holdings in Hudson Resources. These funds have been employed in audit accounting costs in the compilation of the statutory reports and sundry creditors.