CVI is going no-where and should be a reality that is set in firmly to anybody still holding. MS has the intention of diluting CVI to about 1b shares for $6m. What would $6m get ?
Even if they got serious and JORC'd a Diamond mine or bought a few trucks for Enditrade etc it will hardly make a blip on the MC and further capital raisings will be needed. There is no scope for shareholder value or return !
To JORC Cu was about $12m from memory so there is another billion shares, then a consolidation ?
Depending on the size of your loss, you might as well walk away as Refinery will not happen and in reality none of the above will happen either.
I hope ASIC and Raks egm appeal can make a difference, but MS being so bold and confident makes me feel he has his bases well and truely covered.
Options are worhtless and this rights issue will be the final nail in the coffin for the heads. If the rights issue does not go ahead due to a succesful shareholder campaign then what ?
Time to write off your losses as there is no more ability to make this company viable. Is there ?
Trent26 website has a lot of detail, see how many times CdeB etc has been recycled, these guys mine shareholders not ground.
Best of luck.
CVI Price at posting:
1.3¢ Sentiment: Sell Disclosure: Not Held
