how i see it

I have sent MS a few messages and got back nothing of note.

He has said he will go through my points after the announcement this week.


He is telling me Pensador are as normal, yet they haven't funded the refinery as was the deal.
Now as I understand it Pensador is made up of a number of people putting in $20 each, and for each $20 they own 1 shares.

Now he has bought 800k shares, with our money, and paid $15 each, they are supposedly worth $20 each. So that is $16 mill.

But also we supposedly got 3.4 mill shares for giving them the opportunity to aquire the refinery and off shore,
now that is "opportunity to accuire" if they did not then that's not our problem.

Mind you he tells many they did sign the off shore, he was present, but cannot be released because of confidentiality, (he can tell everyone via e-mail though)

Now as I see it we have $84 mill worth of Pensador shares.
well I hope anyway.

IF Pensador are not listed and it is merely a $20 per share then that money should be there, and if they fail to perform their arrangement and fall then we should get that money, or the very least $12 mill we actually put in.

If they are listed and sp worth a lot less then the board should be held accountable for buying shares that are not worth the money.

If we got this money back we have money to JORC drill the copper mine.
It is worth something like 35 cents per share just on what was previously known. They are confident there is a lot more than first drilled many years ago,

He says Pensador have funded things already, so is he justifying why we wouldn't get our money back,
what have they funded, where is the ASX release, or is that too "confidential"

I have told him I think Pensador/Global have been one reason why the push down in sp,
I hear the dump last week was from a large holder, I say it would be the ones who got free shares.

Why would Pensador or whoever is part of them, want to push it down, well the merger, or as I call it reverse takeover was to be done on valuations, so if Pensaodr was locked in at $20 per share, the lower the CVI price the more CVI stock Pensador would get.

If he gave away this money and cannot get it back, and we get nothing from Pensador, well what would you call that.
The Hawks stole a flag off the cats,

The financial situation worked very well for them.

Why do they want CVI, the assets of course, the copper could be worth heaps, along with gold, diamonds, rare earth etc.

Now I have been complaining about this, and hoping others have too.
Some have attacked me saying I should leave it to MS, to continue to do the great job he has been doing,

But hopefully it has got him thinking.

I am hoping we keep our copper, they fund it themselves, like the refinery, which by the way is not done and dusted.

But we have to be carefull that after failing to fund the refinery he still tries to give Pensador most of our mine.

they deserve nothing at the moment.

Now the 20 mill shares he gave away for introduction to the truck building thing, with no details

But if he releases the EGM date that tells me the funding offer is real, and the company is very real,
that could earn the company real money, the stock could go to 20 cents at the drop of a hat, just for starters.
I mean at $10 profit on 50k BPD on 340 day per year, that's $170 mill profit, for a company with a m/c of what? $20 MILL.


That is just for the refinery, then for the copper.

But he needs to tie up this refinery deal, this seems to be lagging, he needs to know we expect this refinery funding deal to be done now, not drag on, he says he will call an EGM to vote, he needs to get off his rear and get it down.

We need to tell him what we expect, need to let him know Pensador should not get our assets without a very good reason, so far we have none.

Certainly we cannot simply believe Pensador are funding things just because he tells us so.


Go Hawks, anyone have a DVD copy of the game, I messed it up and am spewing, am deperate for a copy.