Hey FM,Good to hear from you. Hope all is ging well for you too....

Hey FM,

Good to hear from you. Hope all is ging well for you too. Thanks for the pointer for CNF. I'll definitly have to take a look as soon as I have bit more time.

I'm already as exposed as I want to be in 2 Iron Ore plays - FWL and ANU, so CNF would have to be pretty stand out for me to reduce any of these holdings...and not just for resource size.

As I'm sure you are aware, there are billion dollar inground value stocks abound everywhere. However many other factors also have to be standout.

Here is why most of my portfolio is in CVI.

1. Commodity - Oil is the most obvious resource for which there will be an excess of demand over supply in the future. The same cannot be said for Uranium, Iron, Copper etc once much of the current spec stock come online.

2. Management Management has to be first rate in determining who to bring onboard. CVI have been doing this. Most recently and importantly by appointing an Oil Financing expert.

3. Resource Size Possibility to be gargantuan. Nothing more needs to be said on this.

4. Projects Numerous, therefore hedged against failure of any one of these.

5. Gameplan CVI have one, and it is becoming clearer week by week. Many resource stocks just continue aimless drilling without informing shareholders as to where this is heading.

6.Minimal Downside in SP @$34mill approx, the Market Cap is undepinned by resource value and equity such as holding in Quest.

All in all, Cityview give me the impression that they are aiming not just for returning shareholder value, but to create a global organization that will be around for many many years.

Cheers