So it's a forum, yeah. It's not really about money - it's about knowledge and understanding.
For mine, CVI's credibility is totally on the line now. The calibre of the management and the advisory board is beyond doubt. None of these men are for sale for $1 million. However, we have our CEO, Mark Smyth following a punishing schedule - flying half way around the world, straight into last minute discussions with his team in London, high-powered negotiations in Lisbon, back to London and then down to Angola for the signing of the Kwanza leases. This was to be the culmination of a years negotiations. Then back to London and off to the US for the roadshow and presentations to financiers and investors. Definitely a gruelling pace and physically punishing.
However no signed contract. Instead more tantalising offers - and very open-ended to boot. The Fortitude announcement seems to me to be more of an in-house re-arrangement than a meaningful agreement with the Angolan authorities. It appears to me that the Angolans have failed to make the required demonstration of their sincerity in their dealings with CVI.
So what does MS have to present to the Americans. Only blue sky and marvellous promises. Not worth the trip. Supposedly there was to be no capital raising in the US until the SP was much higher than at present. How are the copper projets to be financed with the SP clobbered again and sentiment king hit by the most recnt placement all for a measly $1.3 million? If the Kwanza signing is announced tomorrow, isn't that four days too late.
As I said, for me it's about understanding. I feel that shareholders have been left high and dry by the announcements of the past days.
CVI Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
