there are genuine concerns about some previous deals coupled with the fact that there is little room for optimism in todays market....
Global needed the money back, albeit at a loss, such as Duestche Bank has sold down SRK and the list goes on....banks in trouble - anyone noticed recently?? Need to raise cash ? Own spec shares that aren't producing yet?
Although in my opinion, the company is going from strength to strength.
Recently a company with little money and alot of paper titles to a company with little money, titles, a EGM dependent refinery(half paid by someone else and half interest free till production), half owners with Angola's government run supply and service company Enditrade and Pensador funding. The little we know about Pensdaor will hopefully be rectified and revealed shortly. Pensador, Enditrade and the Refinery deals are how can CVI have its cake and eat it? You have to spend money to make it and if you can't or don't want to borrow it you need to make deals!!
As pointed out by some - its a bargain but many are happy to miss out on the first 20% rise to be sure the SP is going up.
CVI Price at posting:
6.0¢ Sentiment: LT Buy Disclosure: Held
