The "market" appears to not believe that CityView will achieve what they have stated.
From the market's perspective:
None of the resources partly owned by the company are JORCed
There is a question of Sovereign risk in Angola
Oil contracts, while there may be a tacit agreement in place, have not been signed off
Pensador, whilst the money may be sitting in trust, is apparently not fully ready to start funding programmes
General market carnage over the last month or so in the short term and the last year overall has lead to money evacuating the market overall
As such, the "market" wants to see many of these things progressed to a point where the larger players will step in to remove free float shares from traders to propel things forward.
I think that all of the above "issues" will be dealt with - although probably not in the timeframe outlined by the company (2 months for Pensador signoff, 6 months to enact clawback, working copper mine 2010).
The rise when it comes will probably be gradual rather than a sudden shock, as items will be ticked off in turn and announced. As such, those waiting for confirmation to buy in could find that by the time all of their issues are dealt with, the shareprice could be many multiples of the current price.
Cheers
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
