Forgot to mention the Angola Diamond project which they have a 6 month due dilligence to ensure the Kimberlite diamond projects are actually legitimate projects...
More on the funding facility:::::
CityView Kwanza Basin Funding Facility CityView Corporation Limited (OTCBB: CTVWF)(ASX: CVI) ("CityView") was notified on December 5, 2007 by its Angolan Co-venturer Nexoil Holding Group SA ("Nexoil"), that Sonangol, the State Oil Company of Angola, had advised them that a prerequisite for the grant of the designated Concessional onshore acreage in the Kwanza Basin, was that funding of US$100 million had to be available to the Nexoil/CityView/Energy Africa Joint Venture ("the Joint Venture").
CityView is pleased to announce that it has received confirmation of a US$100 million underwriting facility for CityView for the benefit of the Joint Venture, from First Capital Management Limited, the manager of the First Global Resource Fund, a sub-fund of the Mauritius-based First Global Funds PCC family of funds, on terms satisfactory to the Joint Venture.
Sonangol has been informed of this facility and as a result the Joint Venture satisfies the financial capabilities required for the granting of the Concessional onshore Kwanza Basin acreage.
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
