Isn't this whole lease thing a repeat of Smythes previous failed...

Isn't this whole lease thing a repeat of Smythes previous failed entities? Always the fabled high value leases that never materialise into anything.

The leases are token in value, unproven but full of hope. What are they worth? $10,000, $1M, $5M??? Who knows?

If this plays out like last time then CVI will wither away, the leases will be sold off to Co A for bugger all to pay CVI OpEx then sold to Co B for 20X the purchase price. Then Co B raises capital to pay for them on the basis that they have just made a massive discovery and the whole cycle goes around again.

Apologies for the lack of detail I am sure others can fill in the gaps.

Without a regulatory body to help at this stage all seems lost? Even with one I am sure there would be nothing left of any value. Apart from dubious shareholdings in their mates equally murky companies what does CVI actually own? Seems like nothing to me. They have sent all the assets out the door to their mates.

Pigs. And ASIC & ASX are no better, they provide the trough.