chewing through the cash, page-39

The first thing that hit me in the face from the preso yesterday was the low amount of cash in hand. It does not bother me at all that they have spent this much as their is a lot going on rapidly. But I do have a concern that they will need "oh so much more cash" to get up and running. I have no doubt CVI will be big but hopefully not with 2 billion shares.

But then i got to thinking about CVI's other options to access funds such as :

* The $100 mill facility already approved for Kwanza onshore.

* Possible sale of matanda before we even buy it. at one stage we were offered twicwe what we are going to pay for it.

* Cashed up JV partners. Our partners love us for our brains not our beauty. I'll bring the know how and you bring the money honey

* income from any fast tracked programmes. Mining ops take a long time to make profitable , but how long does a refinery take to generate cash ?? less than a mine I guess. Also, i note that the offshore blocks are EXISTING permits. Are any of these advanced projects ??

* CVI always fancied itself as an oil company first and foremost. What if CVI/fortitude JORCED up their mineral/diamond assets (not just a copper mine but a copper province) but did not proceed to production. What if they sold out to BHP, who have been sniffing around CVI for forever now, for an absolute kings ransom thus making CVI a very cashed up strictly oil company with some kick ass oil leases.


Perhaps due to short term requirements we are still gonna have ourselves a raisin' but in the longer term it may not be as bad as you think. especially if CVI can manage to get the SP up.