In defence of PV, his intentions and stated goal in the annual...

In defence of PV, his intentions and stated goal in the annual reports 02/03 was to position all the divisions to be floated as their own entity. We all knew that. He is in the business of creating businesses and handing them over to a manager of sorts to furthur their progress as well as self managed wealth creation.

However, a lot could be said but whats done is done , no use looking back. Lets focus on the positives and the future.

1.

In a poor economic climate with high interest rates CNN is cash rich ($5-6m) with zero borrowings. We aren't going to fall over.

2.

PV had the foresight not to give all the uranium tenements to ACAP as he could have easily done. He kept some for a rainy year and this could be our savior.

3.

Aquenox and Bioglobal (to be floated yet) are companies
with actual sales and revenue albeit minor so on floating (if and when) should have real value attributed to an increased revenue stream hopefully, as opposed to DIA and ACB who are still virtually R & D. On floating these companies will add greater value to CNN.

4.

Uranium spot price has risen three weeks in a row so it may be good times ahead for uranium stocks again.

5.

Generally things may get a little worse but from there it should all get better.

6.

PV's a good bloke and will probably give all shareholders at the AGM a big bottle of expensive wine and say thanks for sticking with me thru these tougher times, your investment and confidence in me is appreciated. lol

7.

ACB may have gone and be worth nothing to CNN now, but its intangible worth to CNN based on its success could be priceless in the future and may contibute to us all recouping our investment plus a healthy profit.

Well thats how I try to think to keep my head up. My opinion only.

Cheers