unique process of value building...

Interesting...

Seems we will end up listing our minerals assets on aim, effectively in a separate entity.

Probably better than an in-specie spin off, although this will likely come at some point, unlkess of course we get taken out by the likes of BHP first.

Meanwhile, value is retained under the CVI banner to help with market cap re Dubai.

Another couple of ticks!

Not only do we get 32% immediately of an entirely minerals focussed entity with a significant ground position in Angola, one assumes cashed up via AIM shortly, but we get immediate exposure to their numerous other resource targets, in particular Cachoeiras de Binga with a non JORC resource of 7.1mt at 2.14% Cu. That’s a current in-ground value of about AUD$1.1b from what one would assume, given the grades, is a reasonably viable operation as it stands.

Chipindo gold is also a significant target I have seen mentioned in a few articles.

It looks to me like this effective merger between CVI and Fortitude will see a significant minerals company formed. Listed on AIM, she will easily achieve AUD$200m market cap based purely on what they already have.

This is a very good move for us

The BHP linkage via Egan has not gone unnoticed either and with the tragic removal of BHP's senior presence in Angola, is conceivable Fortitude is being set up as a BHP "substitute" presence.

This may also suit BHP, who can now regather whilst Egan effectively carries on in their stead.

I believe the tragic helicopter crash and recent decision to proceed with Cameroon is directly behind this move.

Very interesting value equation to say the least.

No mention of Catabola however...are we to assume it has been annexed, or perhaps the mention of the "Longonjo" lease also encompasses Catabola as well?

May need clarification on this...perhaps Smyth might touch on this in the BRR interview...assuming of course he will give one? Personally I would be disappointed if Catabola has been farmed off so close to the drilling programme.

Frankly, if Catabola has been included in the mix (given my love of conspiracies), viewing such a farm-off in relation to the recent appointment of Egan and indeed unexpected delays to drilling, I would immediately assume that we can expect something very significant from Catabola. Perhaps there is more known here than JORC and the ASX will allow Smyth to say?

We have major news here today, mark my words, however the market will probably not understand it.

In the last few days we have become a 24mmbls 1P reserves oil company in the Cameroon and a 32% (more later) holder in what could potentially become one of the biggest minerals companies in Angola.

Amazing...the rate of value building here is unique. Mark my words, these are the sorts of value creating events the larger players look for.

Smyth...

"Fortitude lifts CityView to a new level in Angola through its wide spread company-making projects and underpins the underlying value of CityView."

Whilst the "underlying value" may now be safely underpinned, the speculative value just took another leap in my mind.

Lets see how long the market takes to factor it in.

Cheers!