I will be straight to the point and not beat behind the bushes, its a touchy subject but please hear me to the end. I should make it clear that I first invested in CVI based on the activities of the company almost oblivious to at the time shareholder no confidence in management. I also purchased further shares averaging down once I became aware thinking the activities and projects will start a recovery. (Refer to my alias.... a little bit wiser now)
Through an announcement on May 24th CVI indicated that it is about to get a new management team to replace the current team. This change is well overdue and required to get this company back on track.
There is no point that I dwell on the past. I know that many shareholders have been burnt investing life savings at much higher prices. I do sympathise with you as I know how it feels.
We know management is changing. We, the shareholders, also need to change our views of CVI for the benifit of a CVI recovery. I have read alot of negative posts. As I said a lot of shareholdes have been burnt.
IMO Late July to mid August will be key of the CVI turn around. New management will be announced together with capital raising. New management will be given their chance to make an impression. Their direction will be evident pretty quickly. My pick is Mr Di Giacomo to step up to be Chairman or CEO. I have done a bit of searching and his experience and profile looks impressive. He also just joined as a non-executive director.
CVI projects we know are high quality they were just mismanaged. One of the projects is or will be cash producing. Once funds from CR and producing project Coal project have hit the bank CVI should be cashed up to progress with mining/exploration. A recovery is possible, I have seen it with some of my other stocks and it can happen again with CVI.
Talking positive about the prospects is the only thing we have. We can't forget about the past that quickly but a change to the positive would be a good start. If we can start the new managment team on a good note, it will make their job a touch easier.
Apolgies for the long post. It is great that you have reached this point. Happy to hear your feedback.
CVI Price at posting:
0.3¢ Sentiment: None Disclosure: Held
