Ann: Corporate Presentation - Pavo Discovery, page-91

agree feathers current contrarian pricing has nothing to do with management. one should however find solace in the fact that the market is somewhat akin to a casino, and the house always wins. now I've got that out, CVN is still an exploration company and it's price is volatile because there is no stable revenue stream, this will no doubt continue until FID is made. no matter how good the results are CVN still needs to fund its share of development costs of which there is currently a shortfall that needs to be bridged. my guess is that the current sp action is a result of punters betting that CVN will have no option other than a cr ( contrary to current messaging from the company). STO is also looking to sell down some of its equity, which CVN could easily piggy back on to raise cash. that approach is likely to deliver a fairer valuation than a cr. sure the sp is frustrating but the FID will happen and the sp will stabilise