Let us remind ourselves of some of Smythe's delirious failures with CityView. I don't care if new management are going to try and revive this thing, this company is permanently tainted from it's history. Here are some of the failures over 2007-2008, however there were dozens of other mishaps in this company's listed history.
55kBOPD Oil Refinery - FAIL
Angola Diamonds - FAIL
Catabola/Longondo Copper Drilling - FAIL
Anyone remember when they tried to acquire $1.1B funding just before the GFC? - FAIL
In 2008, they were burning $3M a quarter in overheads, and only had $0.3M in the bank. - FAIL
Investing in Fortitude - FAIL
Pensador financing - FAIL
Dozens of BRR spiels - FAIL
Running to shareholders/instos for money - FAIL (in 2007, they did 3 separate placements in the space of 75 days!!)
Cameroon Oil Basin - FAIL
Indonesia LPG - FAIL
FAIL FAIL FAIL
This company was, and always will be, a trainwreck. How people got conned into it, I do not know!!
CVI Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
