CVI - CVI Energy Corporation

[skiper]

Re: CVI - Cityview Corporation

JTLP have to issue more shares to progress no other way. How many shares did OXR have back in their junior days and how many now.

Yeah, I like the idea its a win win for CVI with the $1.1B funding we by back the shares they ultimately will own in CVI. This is just a holding company that is a private entity, that are ultimately investing in CVI

Interesting the next few trading sessions going by the huge lift to 39M traded today.

Tony Caplin report to be released shortly to Insto's world over.

Patience has been the key here with hold ups due to dealing in Africa and the Angolans. ie Onshore which is minimal to extract has been held up until elections in a few months, out of company control.

 

[skiper]

Re: CVI - Cityview Corporation

CityView Concludes US$1.1 Billion Project Funding Plans

CityView Concludes US$1.1 Billion Project Funding PlansPERTH, AustraliaCITYVIEW
PERTH, Australia--(BUSINESS WIRE)--
CityView Corporation Limited (ASX: CVI; OTCBB: CTVWF) ('CityView') is pleased to announce the conclusion of negotiations to finance the key projects in West Africa in which CityView holds interests or is currently evaluating.

The directors of CityView believe that the proposed arrangements will significantly increase the value of the Company, as they remove the immediate funding commitments on CityView's oil, diamond, copper, gold and other mineral programmes. Importantly it allows CityView to retain ultimate control of the projects whilst providing the large amounts of working capital to fast track the various projects.



Pensador Resources Inc.

Pensador Resources Inc. ('Pensador'), a US corporation that will assist CityView with the financing of these projects, is in the final stages of securing underwriting which will aggregate on completion approximately US$1.1 billion in equity. Pensador shares will be subscribed for by Angolan nationals and other parties at a price of US$20 per share. Three prominent Angolan businessmen are joining the Board of Pensador.

As a first step, in exchange for 3.4 million Pensador shares valued at US$68 million at the above price of US$20 per share, CityView will transfer to Pensador its rights to and interests in the following investment opportunities:

The opportunity to invest in four Angolan offshore oil licences which CityView has been evaluating for the past two months; and
The opportunity to invest in an oil refinery in West Africa with guaranteed supply and off-take which is currently in the advanced due diligence stage.
It is anticipated that upon completion of the financing, the fully diluted issued capital of Pensador will be approximately 68.5 million shares which when valued at US$20 per share has a market capital of ~US$1.4 billion. The difference between US$1.1 billion and US$1.4 billion represents shares anticipated to be allotted to Angolans as part consideration for the assets to be transferred to Pensador.

In recognition of CityView's pioneering work in Angola, CityView has been granted the right to increase its proposed holding from the above 3.4 million shares to 4.2 million Pensador shares by subscribing for a further 800,000 shares at a negotiated discount price of US$15 per share for a total of US$12 million.

To assist CityView to take advantage of this opportunity, two UK investment groups have offered to subscribe for up to 75 million CityView shares at a price of Au$0.222, being a premium to the present market price.

Claw-Back

A key component of the finance package was the securing of undertakings from the major shareholders in Pensador to exchange their Pensador shares for CityView shares when called upon by CityView (the 'claw-back').

The terms of the claw-back will ultimately be based on respective independent valuations immediately prior to the exercise of the clawback option. Exercise of this claw-back option will be subject to the approval of CityView's shareholders.

CityView has commissioned an analyst team in London to review the impact on CityView of the proposed finance plans, work programmes, legal title and corporate governance. It is anticipated that this report will be available shortly.

Upon exercise of the 'claw-back' option over Pensador shares, and the merger of Pensador with CityView, CityView will be the surviving holding company. At that point, CityView will seek to upgrade its Stock Exchange listing in the USA from its present OTCBB status to a higher Stock Exchange.

Work Program

It is anticipated that the funds available to Pensador will be allocated towards the development of the following projects-:

a. To bring Cachoeiras copper project to a JORC compliant resource and then into commercial production. Also to continue exploration on the other four copper concessions held by Fortitude Minerals Limited ('Fortitude') in Angola;

b. To bring the Luachisse and Nhefo alluvial diamond concessions into production;

c. To construct and commission in West Africa a 100,000 barrels of oil per day refinery, with a guaranteed oil supply and off-take for its refined products;

d. To participate in the development of four Offshore Oil Permits in Angola;

e. To establish an Angolan energy fund for the development of onshore oil and gas deposits in Angola;

f. To develop a JORC compliant resource at the Longonjo copper/gold/rare earths project;

g. To develop a JORC compliant resource at the Chipindo gold project;

h. To continue exploration at the Ucua pegmatite project;

i. To conduct initial exploration and development work on the Luachisse and Nhefo diamondiferous kimberlites and the Longonjo diamond area;

j. To invest in an Angolan Government Project currently subject to a confidentiality agreement; and

k. To undertake studies on other opportunities in Angola including a large iron ore project.

Diamonds

Pensador will fund both the bringing into production of the two alluvial licences and also the development programme for the diamondiferous kimberlites.

CityView will be granted a 10% interest in the net profits to be received by Canzar Resources Limited ('Canzar') in the Luachisse and Nhefo alluvial production.

As CityView will become the ultimate holding company of all the group subsidiary companies, CityView's option over Canzar ceases to be relevant and will be relinquished.

Metals

CityView will retain its existing holding of 22,717,562 shares of Fortitude valued at US$31,577,411 million (US$1.39 per share). Two of the three directors of the Fortitude Board are CityView directors (I. Egan and N. Hoexter) and they will continue to be actively involved in monitoring the ongoing work programmes.

Pensador will fund Fortitude's programmes to the commencement of copper production and development of the gold, rare earths and other minerals projects.

Other Interests

CityView will retain its option over Petro Energy Africa Limited/Turnberry Resources Inc who are in negotiation for oil rights in Cameroon. CityView will also retain its controlling interest in European Oil Limited which owns 6% of Quest Energy Middle East Limited ('Quest'). At the appropriate time Quest will facilitate the listing of CityView on the Dubai Stock Exchange

 

[JTLP]

Re: CVI - Cityview Corporation

JTLP have to issue more shares to progress no other way. How many shares did OXR have back in their junior days and how many now.

Ermmm...at least Oxiana knew what they wanted to be in the beginning. Gold + Copper. They are also in a very stable part of the world.

CVI are just trying to gobble up everything they can, in a pretty risky place. Issuing shares is fine, but why did they always have to be at such discounted prices? And why would you issue shares for nothing concrete? To get the ball rolling...don't give me that because if sealing the deal is so shady what will happen if CVI and Angola's prominent figures have a tiff?

I would have been happier (plus the company would have been more effective) had CVI always issued the shares at 2 to 3 cents above the trading price. This would have created a nice floor for the SP and given shareholders confidence in the board. And a BIG PLUS as it would have meant that LESS shares had to be issued to pay these people for business.

CVI will ST-Ruggle to break new highs. I'm guessing there are A LOT of longs waiting to cash in on the 30 cent mark.

Plus Skiper...i said it before...when that deal + oil leases are SIGNED, SEALED & DELIVERED...maybe then will confidence reign supreme in CVI.

Until then...its back to the bottom drawer for me

Haw haw haw haw haw (Tim Allen laugh circa Home Improvement / Simpsons)

 

[kromey]

Re: CVI - Cityview Corporation

JTLP I don't believe Angola is that risky the war finished 6 years ago full steam ahead there now........

 

[tallmantim]

Re: CVI - Cityview Corporation

Ermmm...at least Oxiana knew what they wanted to be in the beginning. Gold + Copper. They are also in a very stable part of the world.)

CVI do have a clear view, and Angola is one of the most stable counties in the region now. You need to do your research.

Look at the political stability page:

Angola: http://info.worldbank.org/governance/wgi2007/pdf/c4.pdf

Much better than:
Nigeria: http://info.worldbank.org/governance/wgi2007/pdf/c161.pdf
Kenya: http://info.worldbank.org/governance/wgi2007/pdf/c116.pdf
DR Congo: http://info.worldbank.org/governance/wgi2007/pdf/c248.pdf
Congo: http://info.worldbank.org/governance/wgi2007/pdf/c45.pdf
Zimbabwe: http://info.worldbank.org/governance/wgi2007/pdf/c250.pdf
Indonesia: http://info.worldbank.org/governance/wgi2007/pdf/c102.pdf


Not as strong as:
Namibia: http://info.worldbank.org/governance/wgi2007/pdf/c157.pdf
Zambia: http://info.worldbank.org/governance/wgi2007/pdf/c249.pdf
Gabon: http://info.worldbank.org/governance/wgi2007/pdf/c79.pdf
Cameroon: http://info.worldbank.org/governance/wgi2007/pdf/c44.pdf

On par with:
Mexico: http://info.worldbank.org/governance/wgi2007/pdf/c141.pdf
Papua New Guinea: http://info.worldbank.org/governance/wgi2007/pdf/c176.pdf
Russia: http://info.worldbank.org/governance/wgi2007/pdf/c187.pdf
Turkey: http://info.worldbank.org/governance/wgi2007/pdf/c221.pdf

Do you think companies would look at the stability of Mexico, PNG, Russia, Turkey or Indonesia as credible reasons to stay completely away from an investment in them?

LOL!!!

I would have been happier (plus the company would have been more effective) had CVI always issued the shares at 2 to 3 cents above the trading price. This would have created a nice floor for the SP and given shareholders confidence in the board. And a BIG PLUS as it would have meant that LESS shares had to be issued to pay these people for business.

LOL

Do you even know how placements work? Why do you think someone would buy shares from the company at a premium if they could just buy them on market for cheaper?

You need something to entice the "sophisticated investors" - usually a discount, or a free option for speculative shares!

All the best.

 

[123enen]

Re: CVI - Cityview Corporation

Do you even know how placements work? Why do you think someone would buy shares from the company at a premium if they could just buy them on market for cheaper?

You need something to entice the "sophisticated investors" - usually a discount, or a free option for speculative shares!

All the best.

Hello - resident downramper here!

There was no premium .
The ASX release was issued when the market price hit .215 for the day. Perhaps even engineered. Some premium.
And besides MS assured everyone that the placement would be done at 30 cents. What happened to that ?

 

[prawn_86]

Re: CVI - Cityview Corporation

I personally think CVI has some potential, however i would not buy them myself.

I have done a little research and my biggest problem is the fact that everything is so ambiguous. As JTLP has said, nothing is concrete yet.

While I understand things take time, I also know that African countries are not renound for keeping their promises. I also dont like the fact that the language used in the anns is complex, almost to try and make sure investors cannot fully understand what is going on.

Thats enough to keep me away.

Having said that, I wouldnt have complained if I picked some up at 10c a few days ago...

 

[tallmantim]

Re: CVI - Cityview Corporation

Hello - resident downramper here!

There was no premium .
The ASX release was issued when the market price hit .215 for the day. Perhaps even engineered. Some premium.
And besides MS assured everyone that the placement would be done at 30 cents. What happened to that ?

Well, we're in full agreement then 123 - as I said it is not normal for shares to be placed at a premium - people need to know that they are getting a good deal with the placement. In this case, 75 million shares at 22.2 cents in full knowledge that the company has $1.1B available and that the shareprice will soon go up strongly past 22.2.

Personally I think that the 30 cents placement comment was a "non-core promise", and he alluded to that in later conversations - the 30 cent comment was before the shares plunged down to 9.4 cents. If you had of said we would be placing shares at 22.2 cents three weeks ago, everyone would have been pretty excited! I have no problem with it as it allows them to get the "discounted" 800,000 shares.

By the way the announcement wasn't made when the shares were trading at 21.5 cents - but when they were trading at 19.5 cents. It then reopened at 21 cents - not sure where you got the 21.5 figure from, it hadn't reached that level since the 4th March.

 

[tallmantim]

Re: CVI - Cityview Corporation

I personally think CVI has some potential, however i would not buy them myself.

I have done a little research and my biggest problem is the fact that everything is so ambiguous. As JTLP has said, nothing is concrete yet.

Prawn,

I agree that it is ambiguous, you need to take the company at face value. They have followed through with what they have said in past; minerals, oil, diamonds and funding etc all look like reality, however the structure is still not crystal clear.

If people are not comfortable investing in a company without crystal clear tangible assets, CVI is not for them. On the speculative side, something like EXM is more appropriate - great blue sky potential with clear title to ground in Australia.

Investing in CVI is to a certain extent about belief - amazing potential, but to some looks too good to be true. For me, they continue to show that it IS true.

Cheers

 

[123enen]

Re: CVI - Cityview Corporation

You are correct TMT. I meant 21 cents. The price hit 21 cents 4 or 5 times before announcement. Anyway, yes these things are usually done at a discount and this one was not. Quite wise given CVI earlier placements.


Here is something I dont understand.
CVI is now going to do a placement at 22.2 cents to UK investment houses.
Then they will use the money to buy Pensador shares.
WHy not place direct ( swap as in clawback) with Pensador NOW?
Why give the placement to the UK investment houses? Hmmm.

 

[YOUNG_TRADER]

Re: CVI - Cityview Corporation

Hey YT,
The SP of CVI is very manipulated. Insider trading to the maxxx...pepsi maxxx.

Haw haw haw haw haw (Tim Allen laugh circa Home Improvement / Simpsons)

He he he JTLP, I like that "Pepsi Max!!!!!!!!" lol :

I still need to look into this alot further to make a proper decision,

Given that the SP has risen from 10c - 20c in a few days, getting the placement done at 22.2c is quite impressive (to me anyway)

But as I said I need to do alot more research dot the i's cross the t's etc and make up my mind on whether this is a trade or a proper hold

Are the company dual listed on AIM? I'm assuming so because they chose UK brokers, perhaps I should just check the web page, back in a sec

 

[tallmantim]

Re: CVI - Cityview Corporation

He he he JTLP, I like that "Pepsi Max!!!!!!!!" lol :

I still need to look into this alot further to make a proper decision,

Given that the SP has risen from 10c - 20c in a few days, getting the placement done at 22.2c is quite impressive (to me anyway)

But as I said I need to do alot more research dot the i's cross the t's etc and make up my mind on whether this is a trade or a proper hold

Are the company dual listed on AIM? I'm assuming so because they chose UK brokers, perhaps I should just check the web page, back in a sec

Hi YT,

They are on OTCBB, ASX and Frankfurt. Currently organising for a Dubai listing as well. They have a view of upgrading the US listing from OTCBB to Nasdaq at some point also.

The stock has been heavily manipulated, and there is some risk that the recipients of the placement could use it to manipulate further (ie keep the shareprice down in the short term). I think this is unlikely however as:

1. The previous placements had this happen on each of them - obvious pump and dumps related to placements. I would certainly hope that the company has learnt from this.

2. I personally think that there will be too many interested in entering the stock for someone to credibly hold the price down too much.

Anyway, there is plenty of volume on CVI that you can manage your risk to a certain extent with stop loss levels - you can certainly get out at short notice with a largish (or small) position without losing more than a couple of ticks.

 

[skiper]

Re: CVI - Cityview Corporation

I personally think CVI has some potential, however i would not buy them myself.

I have done a little research and my biggest problem is the fact that everything is so ambiguous. As JTLP has said, nothing is concrete yet.

While I understand things take time, I also know that African countries are not renound for keeping their promises. I also dont like the fact that the language used in the anns is complex, almost to try and make sure investors cannot fully understand what is going on.

Thats enough to keep me away.

Having said that, I wouldnt have complained if I picked some up at 10c a few days ago...

Fine Prawn, stay away, be good if you could substatiate your downramp, would be good if all posters went around posting on stocks they did not want to guy without FACTS.

Not in the spirit IMO

I can give you at least 1.1 Billion reasons to buy in..

The rest is to come obviously, we don't have much on paper, but I suppose thats Angola and Africa as you say.

But hey, 1.1Billion isn't a bad start I wouldn't think

 

[kromey]

Re: CVI - Cityview Corporation

Prawn which in particular African countries don't keep their promises do you have a lot of experience with Angola not keeping their promises?

 

[nick2fish]

Re: CVI - Cityview Corporation

The trick would be find the oil first and heaps of it...Then good ole USA will take care of the sovereign risk
Shes a risky one this one ...
I'm in on Monday Cheers

 

[nick2fish]

Re: CVI - Cityview Corporation

Just a few snipits to give thread cruziers a bit of background on where its all gonna happen.
I think soveriegn(own government) risk is the biggie with this one. It's clear that they aren't doing a great job of providing for the people and a hungry man is an angry one.
Religon cool and the country is actually very heavily US backed so no fear of invasion.
Corrupt government... well welcome to Africa



Ethnic groups: Ovimbundu 37%, Kimbundu 25%, Bakongo 13%, mestico (mixed European and Native African) 2%, European 1%, other 22%

Religions:

Indigenous beliefs = 47%
Roman Catholic =38%
Protesant = 15% (Stats 1998)

"The generally amicable relationship among religions in society contributed to religious freedom. There is a functioning ecumenical movement, particularly in support of the peace and reconciliation movement."(Religous Freedom Report2003)

Angola underwent a transition from a one-party socialist state to a nominally multiparty democracy in 1992.
Angola is the second-largest oil producer in sub-Saharan Africa, yet its people are among the continent's poorest. The corruption of the Dos Santos government bears much of the blame. According to the International Monetary Fund, more than $4 billion in oil receipts have disappeared from Angola's treasury in the last six years.

In Aug. 2006, a peace deal was signed with separatist rebels from the Cabinda region. That clash has been called Angola's “forgotten war.” About 65% of Angola's oil comes from the region.

China continues to make substantial financial investments in Angola, including loans of around US$5 billion in 2006. Angola in turn is one of China’s largest oil suppliers. Chinese Prime Minister Wen Jiabao visited Luanda in June to push forward multifaceted cooperation between China and Angola. The presence of Chinese companies is very noticeable throughout the country, in particular construction companies working on the rehabilitation of major infrastructure such as railroads.

http://hrw.org/englishwr2k7/docs/2007/01/11/angola14696.htm

 

[bliimp]

Re: CVI - Cityview Corporation

Hmmm was expecting others to give feedback,

Heaven't really followed CVI so please understand my above post was based on 5mins worth of research and glancing

I bought a few hundred k at 21.5c after it fell back

Would be interested to hear what others think

p.s. Do they have anything else left or will it just be their NTA holdings? Cheers

YT

I have been following CVI now for up to 6 months and have been in and out a few times, always facing the dreaded fear and greed syndrome.

In my opinion CVI can be an absolutely mind-boggling multi-bagger or an abysmal loss making failure … And seriously, I cannot see any space in between !!!

Either you will make a fortune or you will lose the lot !!!

Below I give some of my reasons.

1. Corruption

I know everyone has mentioned the subject of corruption in Africa.

But it has impacted CVI in a tangible way already!

By way of example, just look at CVI’s recent play in the Cameroon in Matanda for some onshore oil acerage … it was supposedly in the bag until the Cameroonians did a double deal with Glencore (you know, those gentlemanly good samaritans behind Xstrata) … and to date I have not seen an announcement on the ASX that the Cameroon play is buried and dead … there is just silence, silence and more silence.

And just do a check on Glencore where the ABC said that it has been accused of illegal dealings with rogue states: apartheid South Africa, Communist Russia, Iran, and Iraq under Saddam Hussein, and has a history of busting UN embargoes to profit from corrupt or despotic regimes.

To get a feel for what CVI must be dealing with, have a look at New Millenium Resource’s diamond (mis)adventure in Angola (refer to an earlier post on this thread) … Can CVI succeed where all others have failed?

And just look at the rate of CVI’s endless share placements over the past year … absolutely no ASX disclosure of who got the shares and for what reasons!

2. Mark Smythe

Then there is the MD, Mark Smythe factor!

He is obviously an extraordinary man … to be able to do all this wheeling-and-dealing to get CVI to where it s today … and, to do all this while being well into his late 60s!

But then look further into his CV, and you find that about one and a half years ago he was the CEO of Simba Mines, doing business in Africa … but from there, he is reincarnated as MD of CVI …and followed into CVI by Ian Egan, a current director of CVI, who was also a once CEO of Simba Mines! … Confused?

So what became of the shareholders of Simba Mines … You will need to ask them … in the last 12 months the share price did reach .0001 cents!!!

3. Complexity

And not only are CVI just into oil, gold, copper and diamonds … but they were also into uranium (about 1 to 2 years ago when uranium was all the rage), and into the near future there is also talk of a trendy iron play (but once oil, gold, copper and diamonds are bedded down!) … and lets not forget, they are also going to be building an oil refinery!!!

IMO, don’t get too deep and meaningful and try to understand the CVI structure … there are more associations and relationships, and more plays and counter-plays with CVI than anything the great Russian chess masters of the past would have ever been able to come up with!

In fact CVI makes John Spalvin’s Adsteam group of the late 1980s / early 1990s (a conglomerate made up of a complicated web of cross ownership between Woolworths, David Jones, National Foods etc etc etc) look like some kindergarten play time construction!

4. Effect on People

Probably, one of the best authorities on CVI is 123enen … He probably knows more about CVI next to Mark Smythe himself.

Until about one month ago he was a true-believer of CVI … but then there was a sudden “awakening” … and he has possibly been one of their most fearless and fervent critics, posting at least a dozen times a day on CVI in HC … while being both in and out of the stock during that period … work that one out!!!

You see what I mean … It has a spellbinding effect on people! … it mesmerizes people!

Seriously, I think intelligent people like 123enen use CVI as a cerebral gymnastics tool to keep their brain function and intellect at an optimum level.

5. Summary

So after all that, should you hold CVI?

IMO, it all depends on your belief in just one man … Mark Smythe!

Can he successfully tiptoe thru the corruption tight-rope … do deal after deal after deal … and make this all work?

He has been stated as saying that his aim is to package a “basket of plays” in the next year or so, after which he plans to then on-sell to the likes of BHP for a few $billion!

And he may actually do it! And you may just make a fortune on CVI!

But then again, CVI does have the makings of a classic Shakespearean tragedy!!!

 

[prawn_86]

Re: CVI - Cityview Corporation

Fine Prawn, stay away, be good if you could substatiate your downramp, would be good if all posters went around posting on stocks they did not want to guy without FACTS.

Not in the spirit IMO

I can give you at least 1.1 Billion reasons to buy in..

The rest is to come obviously, we don't have much on paper, but I suppose thats Angola and Africa as you say.

But hey, 1.1Billion isn't a bad start I wouldn't think

Prawn which in particular African countries don't keep their promises do you have a lot of experience with Angola not keeping their promises?

Isnt it funny how you put forward an opinion contrary to others and some people try to jump on you for downramping...

Skiper, it was not a downramp, it was putting forward my opinion, and why i believe it to be so, which is due to the unclear language in reports and the fact that a lot of things are still up in the a

Kromey, personally i dont have any experience, so i will admit it is a generalisation, however as other posters have mentioned, there is always sovereign risk when investing into a 2nd or 3rd world country.

 

[YOUNG_TRADER]

Re: CVI - Cityview Corporation

YT

I have been following CVI now for up to 6 months and have been in and out a few times, always facing the dreaded fear and greed syndrome.

In my opinion CVI can be an absolutely mind-boggling multi-bagger or an abysmal loss making failure … And seriously, I cannot see any space in between !!!

Either you will make a fortune or you will lose the lot !!!

Below I give some of my reasons.

1. Corruption

I know everyone has mentioned the subject of corruption in Africa.

But it has impacted CVI in a tangible way already!

By way of example, just look at CVI’s recent play in the Cameroon in Matanda for some onshore oil acerage … it was supposedly in the bag until the Cameroonians did a double deal with Glencore (you know, those gentlemanly good samaritans behind Xstrata) … and to date I have not seen an announcement on the ASX that the Cameroon play is buried and dead … there is just silence, silence and more silence.

And just do a check on Glencore where the ABC said that it has been accused of illegal dealings with rogue states: apartheid South Africa, Communist Russia, Iran, and Iraq under Saddam Hussein, and has a history of busting UN embargoes to profit from corrupt or despotic regimes.

To get a feel for what CVI must be dealing with, have a look at New Millenium Resource’s diamond (mis)adventure in Angola (refer to an earlier post on this thread) … Can CVI succeed where all others have failed?

And just look at the rate of CVI’s endless share placements over the past year … absolutely no ASX disclosure of who got the shares and for what reasons!

2. Mark Smythe

Then there is the MD, Mark Smythe factor!

He is obviously an extraordinary man … to be able to do all this wheeling-and-dealing to get CVI to where it s today … and, to do all this while being well into his late 60s!

But then look further into his CV, and you find that about one and a half years ago he was the CEO of Simba Mines, doing business in Africa … but from there, he is reincarnated as MD of CVI …and followed into CVI by Ian Egan, a current director of CVI, who was also a once CEO of Simba Mines! … Confused?

So what became of the shareholders of Simba Mines … You will need to ask them … in the last 12 months the share price did reach .0001 cents!!!

3. Complexity

And not only are CVI just into oil, gold, copper and diamonds … but they were also into uranium (about 1 to 2 years ago when uranium was all the rage), and into the near future there is also talk of a trendy iron play (but once oil, gold, copper and diamonds are bedded down!) … and lets not forget, they are also going to be building an oil refinery!!!

IMO, don’t get too deep and meaningful and try to understand the CVI structure … there are more associations and relationships, and more plays and counter-plays with CVI than anything the great Russian chess masters of the past would have ever been able to come up with!

In fact CVI makes John Spalvin’s Adsteam group of the late 1980s / early 1990s (a conglomerate made up of a complicated web of cross ownership between Woolworths, David Jones, National Foods etc etc etc) look like some kindergarten play time construction!

4. Effect on People

Probably, one of the best authorities on CVI is 123enen … He probably knows more about CVI next to Mark Smythe himself.

Until about one month ago he was a true-believer of CVI … but then there was a sudden “awakening” … and he has possibly been one of their most fearless and fervent critics, posting at least a dozen times a day on CVI in HC … while being both in and out of the stock during that period … work that one out!!!

You see what I mean … It has a spellbinding effect on people! … it mesmerizes people!

Seriously, I think intelligent people like 123enen use CVI as a cerebral gymnastics tool to keep their brain function and intellect at an optimum level.

5. Summary

So after all that, should you hold CVI?

IMO, it all depends on your belief in just one man … Mark Smythe!

Can he successfully tiptoe thru the corruption tight-rope … do deal after deal after deal … and make this all work?

He has been stated as saying that his aim is to package a “basket of plays” in the next year or so, after which he plans to then on-sell to the likes of BHP for a few $billion!

And he may actually do it! And you may just make a fortune on CVI!

But then again, CVI does have the makings of a classic Shakespearean tragedy!!!

Bliimp an excellent excellent post there,

Makes for a very interesting read and helped me get up to speed on CVI alot quicker,

I am still undecided on the company, however I do think my entry just below 22c as being relatively safe given the placement at 22.2c

Re this manipulation are you talking about the share price being held down so it looks like the placement was done at a premium??? or are you talking about insider trading from 10c up????? Both puzzle me as I can see both occuring

 

[JTLP]

Re: CVI - Cityview Corporation

LOL...this thread has gone off the heaazzzzy!

Now to answer some Q's:

Tallmantim: EXM did a placement to Hong Kong investors at a premium to the on market SP. And can I add this: At lot of you guys are from HC, and the man with the most knowledge about CVI (T4P) even wrote it himself that CVI should have made placements at a premium to the SP, which would have equated to less shares issued and more confidence in the team. Secondly, don't twist my words. I didn't say Angola was like Aliens Vs Predator territory, with no respect for human life. I said it was A LOT riskier than Oxiana's territory in Australia.

You all sit here and say "oh it has to be done like this because that's business in Angola". Does that make it right? The people who you basically "employ" create dilution amongst your positions?

As if any of you can honestly say that when the placements were made and the SP dropped accordingly that you weren't left a little dumbfounded/annoyed? I know I sat there and watched the SP get manipulated...up up and away thinking "thank god" only to see another dreaded "3B" and see the price go DOWN DOWN DOWN DOWN...

And Skiper...seriously mate you are making enough LOLsagna to last a week...they even said that the 1.1 Billion dollar finance is not in concrete yet. Who the hell comes out, makes some vague statement about "oh we could have financing but X then Y + Z - A square root U has to happen before its settled...and even then we need Pensador to complete underwriting (which hasn't been done yet)".

Well, CVI is staying in the portfolio because this one to me is basically a write off. I will keep it to teach myself a lesson...

***Disclaimer***
In saying this i'm hoping a beautiful bout of JTLP karma comes swinging my way...CVI magically hits up big numbers then i'm moving to the sell side faster than you can say APPENDIX 3B!!!