I'm sure Smyths plan is to NEVER leave much in the CVI account, so that people believe they DO still need him, and so that IF there's a short suspension of trading while a partially new board is implemented, then there is no loose money to use. (or for him to lose)
All part of Smyths game of survivor imo.. "Outwit, outlast and outshaft" (I think that's how the saying goes?!!)
Must add, that while we have this MASSIVE criticism of Smyths managment, I believe CVI could quite possibly have a very nice future once the right team is working it.
If you can just imagine that the $42 million raised last year had been put to drilling, or buying correctly priced commodity basket assets instead of hyper inflated ones, we'd be in quite a nice position right now.
While Smyth stays- the assets will always be hyper inflated prices, as that is what he has to do to satisfy his string pullers imo......
CVI Price at posting:
1.0¢ Sentiment: None Disclosure: Held
