Re: CVI - Cityview Corporation
LOL JTLP - you will note me message below. You are aware I assume that they gave away a free option with that placement? A free option that is trading currently at about 1 cent?
What would CVI entice shareholders in with? Do you think we should have done a placement when the price was at 15 cents at 20 cents with a free CVIO option? I don't think so.
No - what you said was that Oxiana was in a stable part of the world, which infers whether you meant it or not that Angola is not a stable part of the world. I put some evidence showing that while Angola is by no means perfect (it's sitting on the 30th percentile as a rating of stability) it is more stable than countries like Indonesia that are commonly invested in.
Risk is relative. Geological risk for many of CVIs holdings is very low - they are working off assays that the Russians did during the war, although they are not JORC compliant. There is a higher level of sovereign risk with it. Overall the risk is much lower IMO than many Australian explorers when you look at the overall profile.
Yes - hopefully that is a thing of the past and the company have learned from it. Very unsavoury!
LOL - at what price did you buy in? Either you bought at the top of the hype for the first time (ie. high 30's) or you are within striking distance of being in the money. What lesson do you want to teach yourself? Portfolio risk management? Doesn't sound like it is doing much teaching in your bottom drawer! They should have been sold already to teach you that lesson!
Yes - the overseas listing are IMO largely irrelevant at the moment, however I think they are a core part of the longer term strategy.
All is lead from the Australian market.
Yes, in US$.
OK. I'm going to try and number and title some things so we both don't get lost.
1. Placements
I am aware about the free options given out. That doesn't concern me. The general market looked at the investors receiving shares at a premium to the SP, hence the nice rise and support (not atm though!). CVI couldn't do this why?
Why not entice "sophisticated" investors (which reminds me of another thing which i will point out) with some CONCRETE evidence and deals? I'm pretty sure the people who were handling the 3B's pretty much killed all credibility in CVI. (again, T4P even criticized your saviour MS about the dealing of the placements)
2. Political Stability
Timmy, let me point something out to you. I do think that Angola is not a stable part of the world. Just because IMF or whoever puts it into some ranking system, doesn't mean i'm going to set up my local milkbar in Angola because it's better than Indonesia. Let me ask you this, would you travel to Angola and try to set up a business there as a foreigner? Or would you take your family there for a holiday?
Look at the surrounding nations (Nigeria etc). All countries that teeter on the edge of civil war. It is nice to see Angola rising from the ashes of its former self, but lets face it, it's no pheonix, and there is always a risk of someone snapping. You can say that CVI have connections in Angola, but have you ever studied Law? If so, you will take note that if anythign was to ever go sour, i'm pretty sure the CVI board would be up against these "prominent" Angolan's in Angola's courts (Hello Schapelle Corby!), quite the formidable task you must agree?
Or, I can put it like this. We all know Australia is a free and beautiful country. I'm sure if you had a dispute with somebody in business, you would receive a fair and honest civil trial, and could be 99.9% sure that the findings that were returned and the way the case was handled was honest.
Could CVI expect the same in Angola if things turned Chromeo? (
Nasty girl for all those playing at home).
3. Buy-In Price
Although it's really nobody's business, I can tell you that I've been in and out of CVI twice. Made nice coin off the first. This time around not so lucky (a few cents off my buy in yes).
And what does it tell me about risk management? I know I am a risky person...hell just last week I started crossing the road when the red man was flashing NO! BUT HELL TIMMY I DID IT!
Seriously, the thing I found with CVI is that setting close stops did nothing (due to the manipulation). Having it sit in my bottom drawer makes me look at it and think "what a stupid mistake that one was" everytime i see it. I will probably frame the CHESS certificate when I do sell it just for kicks.
It has actually taught me to understand a companies structure and make sure that you understand and trust the board. Until Mark Smyth starts signing, sealing and delivering...my trust will always be thattta way ---->