I agree t4p re the valuation, I was being conservative as I didnt want to go nuts and arm wave! The AIM market has created a lot of highly overvalued resource companies which is usually due to the brokers involved and the size of the initial capital raising. The ASX is a lot more efficient. Needless to say if Bowater was on the ASX I dont think it would rate $400m!!
The real strength in CVI has been its relationships and ability to project generate. So far we have several nice assets which look like coming in. What could be on the table in the future is one of the "elephants" that the majors usually get in Angola and Cameroon. My view is this has a real chance of happening.
I enjoy your research on this thread which is otherwise a collection of hyperactive traders. We both know the way to make money is to find good stocks at the right point in their development and ride them to the stage where there are easier returns elsewhere.
Anyway lets hope CVI becomes the next HDR. I had a friend who owned 10m hardman personally and DID ride them up - he is a shareholder of CVI.
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
