Here is compilation of some of the questions we have heard from shareholders... We would most earnestly welcome it if the company would send us answers to these questions and we will gladly post them on this page. It would stop a lot of the chatter!!!!!
Why is the Enditrade deal so secretive? The “deal” was announced five months ago but shareholders have been kept distant from any update. What are the details? Did we get value for money from the placement of 20 Million shares to the secret contact? What does CVI know about Chavda? We understand they are Enditrade’s current partner and they know nothing of a logistics deal with CVI.
Why did Anton Von Tarkanyi, a Canzar Resources and Easyoffice director, oversee the selldown of around 35million CVI shares and why did this selldown take place within days of having received the share placement?
What discussions did CVI hold with Canzar and Anton Von Tarkanyi about this deceitful action and if Canzar are willing to see CVI shares sold down with such careless disregard how can CVI possibly believe that Canzar are a trustworthy partner?
At the BRR of 10 November 2008 Mark Smyth commented: “CVI cannot recover actual cash for its investment in Pensador as the funds have already been spent in Angola”. Who gave Pensador the authority to spend CVI’s money before any deals were actually locked in and what was it spent on?
Shareholders were advised that first diamond production would be seen at either Luachisse or Nhefo during late 2008. In the December monthly update this has now been delayed to late 2009. Why? When will Canzar actually obtain mining rights (as opposed to exploration rights) to Luachisse and Nhefo?
How was the US$1.39 value per Fortitude share actually calculated? In an environment where valuations for all mining companies are eroding what is Fortitude valued at today, and why is there conflicting email information on whether CVI have been buying Fortitude shares from Angolan holders, or whether new shares are being issued?
CVI’s release to ASX dated 31 July 2007: CityView’s Chief Executive Officer Mark Smyth said: “With drilling at Longonjo scheduled to commence in approximately a month the on-going supervision by Mr. Jacoby will be an important factor in achieving success.” This program was met with a deafening silence by CVI. What happened?
And again on March 12, 2008: “The FIRST of twenty four planned JORC compliant exploration drill holes has been completed at Cassenha Hill / Catabola Huambo Province, Angola. But again, more deafening silence. Once again, no news on Jorc drilling. Why? What happened?
Bongani Investment holding (and subsidiary companies) played a major part in the creation of Zebra Copper Limited and is the major partner in the Angolan concessions of Cachoeiras, Benguela and Zenza Dondo. Mr. Teddy De Almeida, Chairman of Bongani, made the following statement to his guests at the 2008 annual Chairman’s speech. “All projects under this division have been a complete failure in the year 2007. (DR Congo, Copper project in Angola, Diamond project in Angola). The opportunity cost is huge. The company will need a new vision, new mission and a new strategy in order to correct the mistakes made last year.”Does CVI have any comment?
When will the refinery deal be concluded and how will it be financed?
After Hoexter and DeChazal left the CVI board, why did they also recently resign from the European Oil board (in late November or early December)? What made them leave?
CVI Price at posting:
1.3¢ Sentiment: None Disclosure: Held
