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.
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.)
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.
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 ?
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.
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
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...
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
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?
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!!!
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