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City View Corporation Ltd. is an exploration and development company. It is
managements' objective to grow CityView into a significant uranium,
beryllium, oil and gas project by developing its interest in Angola. For
more information please visit the company's web site at:
www.cityviewcorp.com
Hi Campbell, Happy New Year ;) I've been away for a while on holidays to St. Barbara with my family. Interesting developments on this company. Are you part of the CityView shareholders organization ? I see this company go under before July. Off couse this is only my opinion but, why on earth someone would want to invest any money here. Scammers allround and now shareholders are trying what ? They will never get the numbers resolutions are made by the company not by shareholders. This will only disrupt the share price and make new lows again. Call me sometime soon Camp. I will be downtown all week. bye xxx Manuella
We can't get your individual addresses, so if you are part of the 30 million shares held in the "US holding account", which is registered on the ASX, you CAN have a vote in the upcoming EGM. Contact your broker to find the name you will need to submit, or they will need to submit for you...and blank proxy forms are available on the website www.cvi-shareholders.org which you can print out - follow instructions and get back to the shareholder group ASAP. You must ensure the details are correct though, as the share register doesn't show you all individually, which is why your sponsoring broker should have the full details for you.
Make your voices heard........vote YES for resolutions 3 to 12 at least.....let's try to make the company more honest.
If a US holder can ascertain more info on completion of forms, please post to the site for all to see.
Regards....
http://cvi-shareholders.org/jms/
A call for CVI Share Holders to take Action
Where has my investment gone?
How do I get it back?
92% of canvassed shareholders signed their names to this EGM request believing it will help to restore their investment.
http://cvi-shareholders.org/jms/
http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=116277
6th January 2009, 8:00 WST
CityView Corp chief Mark Smyth has criticised what he calls “unsubstantiated gossip” on the internet for exacerbating the oil minnow’s woes as he prepares to face a push by shareholders to oust him at an extraordinary general meeting later this month.
Speaking via webcast in a Boardroomradio interview released to the Australian Securities Exchange yesterday, Mr Smyth hit out at those shareholders who, he said, wanted to blame “everyone except themselves” for the company’s performance.
“Shareholders are upset because the CityView share price is so low - indeed we are all concerned about this,” he said.
“The reality is that all resource stocks worldwide have been affected by the crash and CityView is no exception.
“The situation is exacerbated by the negative chatter and unsubstantiated gossip on the internet, creating general confusion and uncertainty. Some of these groups mean well but others blame everyone except themselves for the current predicament.”
A group of shareholders, believed to represent about 11 per cent of CityView shares, requisitioned a meeting last month to have Mr Smyth removed from the board but remain in his role as chief executive.
Citing concerns about the company’s management, cash burn and the terms of a rights issue last year, they want, among other things, four new directors appointed to the board, including dissenting shareholders Susan Turner and Steven Coughlan, and for the company to formally outline its six-month strategy.
Much of the dispute has been played out on popular share market gossip website HotCopper, where support for the extraordinary meeting was originally generated. The resolutions will be put to shareholders on January 30.
Shares in CityView have fallen 95 per cent in the past 12 months, from 28 cents in January 2008 to 1.4 cents yesterday.
At 12.25pm today, shares in the company were unchanged after sinking to 1.3 cents earlier in the day.
By comparison the market’s key S&P-ASX 200 index is down 41.5 per cent, although many explorers have been hit harder than the wider market.
The group was also affected by several board resignations last year.
The one-time technology investment group was reborn in 2006 as an energy explorer focused on Angola and the west coast of Africa.
Commenting on calls by shareholders for greater disclosure about how CityView’s money has been spent, Mr Smyth said it was already hard to conduct business in Angola and would be even harder if rival players were given access to sensitive information.
KATE EMERY
Hey Manuella are you still following this scam company ? Or should I say, following Mark's scam tricks ? lol.
This is better than comedy. Moving to Nigeria now. No contract signs, no explanation on funds, no information, no NOTHING as usual.
This guy and the board should be in jail by now. I wonder if the Australian goverment or ASIC will do anything about it or will they ignore this scam. I'm glad to be living in USA now, I probably would have made a visit to this scambag by now. SHAME ON YOU, SHAME ON CITYVIEW, SHAME ON THE AUSTRALIAN GOVERMENT FOR LETTING THIS GO SO LONG LIKE THIS !
CityView is pleased to announce that following extensive due diligence by the refinery project team, a decision has been made to locate the 50,000 barrels per day (“bpd”) oil refinery (expandable to 100,000 bpd) in Nigeria. Nigeria and indeed the West Africa sub-region currently have huge demand for refining capacity and to this end, the Nigerian Government have indicated strong interest and commitment to support the development of private refineries. Thus, the decision to locate the refinery in Nigeria.
Deanshanger Project Limited (Deanshanger), a leading Infrastructure Development, Project Management, PPP Projects and Finance Group in Nigeria, will be co-ordinating the project. Deanshanger specialises in major infrastructure and PPP Projects and has an excellent track record for successful performance.
CityView’s UK subsidiary, European Oil Limited, in which CityView holds a 70% interest, will enter into a 50:50 Joint Venture with Deanshanger for the purchase, installation and operation of the refinery: the structure of which will provide for further equity participation by local partners. The Joint Venture will be working closely with the Nigerian authorities to obtain all required consents, approvals and support needed to successfully deliver the project. CityView’s representative on the Joint Venture Committee will be its director Philip Rand.
Level 9, 28 The Esplanade, Perth, Western Australia, 6000
PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831
Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799
Email: info@cityviewcorp.com Web: www.cityviewcorp.com
ABN: 59 009 235 634 ACN: 009 235 634
ASX / MEDIA RELEASE CityView Corporation
It is anticipated that the refinery will commence production in the second half of 2010. The final cost of this project after upgrading to 100 000 bpd capacity and commissioning and ancillary infrastructure is estimated to be US$ 1 billion including a 10% contingency. Building a similar size refinery from scratch would cost approximately in excess of US$2.5 billion and would take a minimum of 5 years to get to production commencement.
In addition, the Joint Venture will also be working on an option for the location of a second refinery in Nigeria with a capacity of 100,000 bpd expandable to 200,000 bpd. This will ultimately bring the total refining capacity to be located in Nigeria by the JV to 300,000 bpd.
CityView CEO Mark Smyth said:
”As indicated in our announcements of August 18, 2008 and September 11, 2008 negotiations on the most suitable site for the refinery have been progressing for some time. It is a tribute to the hard work by the project team that a Joint Venture has been successfully established during this current world financial crisis and we look forward to a long and fruitful working relationship with our Nigerian partners and all stakeholders”.
Mark Smyth
Chief Executive Officer
Level 9, 28 The Esplanade, Perth, Western Australia, 6000
PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831
Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799
Email: info@cityviewcorp.com Web: www.cityviewcorp.com
This company went thru so much money and now are trying to raise it's final $6 million before colapse. I urge to everyone not to take the NON-RENOUNCEABLE ENTITLEMENTS ISSUE.
1 New Share for every 1 Existing Share at 1.25 cents to raise up to
$6.2 million.
Follow Mark Smyth as he first picks up the CdB licence in 2004 just 3 days after founding the Samoan holding company. He then moves it to Canada then on to the USA going through three failed merges in an attempt to get it into a listed US vehicle. Having failed there he takes it to the UK under Zebra before finally placing it into the Belize registered Fortitude Minerals and merging that with CVI.
How many times has CdB been sold along the pathway and how much cash has been burnt to get it to where it is today. Do the movements over the past 4 years represent the workings of an experienced CEO or bad luck or are they just simply an attempt to get access to shareholders funds.
One could concur that there is indeed a master plan.
Flow charts available from www.public-exhibition.zoomshare.com under the CVI tab.
$42,120,358 spent in the 15 months to 30 sept
ops very crumbled comment. You can find the announcement at : http://asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&issuerCode=cvi&timeFrameSearchType=D&releasedDuringCode=W
Have you seen any one of those Nigerian scam letters sent out promising you the World and money? This one is pretty much similar.
In the meantime, there are no one director or anyone in the CityView board that have bought shares for years. This shows how confident they are on the company they work for.
So they want their $6 million for their last run. Interestingly they have raised so much money on the last year, I can't recall how many placements and private buddies placements that I cannot believe that a company that raise so much money now have nothing. Oh yes I know. That's why Mark flies 1st class from England to USA and Australia so often and have a nice big house in England and few others in Australia ? hummmmmm that might tell somehting LOL.
Chairman’s Address to Shareholders
Dear Shareholder,
As I have recently been appointed Chairman of CityView, I thought it only fair that I address all shareholders regarding our Company. I wish to tell you a little about myself, the vision I hold for CityView and how I see we can make the essential steps to achieve the success all of you deserve from the assets CityView holds. It is unfortunate that the global financial markets are in turmoil. CityView has to form a new strategy to cope with the present financial climate. The emphasis on going forward from now must be production to generate profits. Future exploration funding must be generated internally.
For the last 8 years I have been the Minister for Geology and Mines in Angola. Angola has had a monumental struggle with a civil war following independence. My resource rich country producing 2 million barrels of oil per day has a population of only 16 million people. Angola was effectively neglected during this period from conventional development, making it one of the most exciting untouched mineralised countries in the world. I have known some of the CityView officers for the past 4 years. When I was invited to join CityView as a director and non-executive Chairman I was delighted to accept as I had complete knowledge of their assets in Angola and knew they shared one of the best portfolios within the country.
My assessment of the CityView assets is as follows:
•
Negotiations with Falcon Oil; Last week I was in Luanda and had an informal discussion with Dr. Horacio Mosquito, the Chief Executive of Falcon. He is well aware of the changing oil price and that the business proposed between CityView and Falcon was not viable with the oil price at the present level. Relations remain good between the two companies and the future is open to further proposals on oil projects in Angola.
•
Cameroon Matanda PH72; CityView has stepped back from Matanda due to some confusion within the Cameroon Government over Matanda. It is understood from CityView’s representatives that alternative oil licences will be made available, taking into account the CityView expenditure to date. This matter remains under review and is being delicately handled.
•
Fortitude Minerals Limited; CityView holds 46% of Fortitude. All of the mining interests including the Longonjo diamond alluvial and kimberlite licences reside in Fortitude. This is a key company which requires substantial additional capital to fulfil the work commitments. Not to act on this will jeopardise these assets. The opportunity to take 100% of Fortitude under CityView exists only if CityView is able to meet immediate obligations.
•
Canzar Resources Limited; Canzar holds the diamond alluvial and kimberlite rights to the Luachisse and Nhefo projects. CityView under the proposed agreements will hold 20% of Canzar in addition to its existing 10% net profits interests. The opportunity to take 100% of Canzar under CityView exists if CityView takes the correct action.
•
Refinery; Negotiations have continued regarding country location of the 100,000 bpd refinery in West Africa. Agreements between the relevant parties are nearing final documentation, subject to on site equipment inspection and approval of Government departments of the inspection reports. These conditions are expected to be fulfilled by the first week in December 2008. Completion is expected within a few weeks after that, hopefully before the end of 2008. CityView will have an opportunity to own a substantial part of this transaction, I have conducted my own investigation with all parties and I am satisfied that the position is real and achievable.
I believe that the best way for CityView to move forward is to:
•
Complete the rights issue already announced. This is at 1.25 Aust cents which appears to be a low price. However it reflects the market that we find ourselves in and this amount is the absolute minimum required to protect CityView. Failure of CityView to up-hold its present position in Angola would cause irreparable if not fatal damage.
•
Acquire 100% of Fortitude and Canzar with vendor restricted shares based on ownership percentage and mathematically calculated ratios.
•
Value the assets of CityView post the acquisitions of 100% of Fortitude and Canzar. Based on historic information and professional valuations that I have reviewed and discussions with the author, I am substantially encouraged that the underlying value per share is considerably higher than the rights issue price. However this value will be further enhanced once the assets are controlled 100% under CityView.
•
Based on asset value per share and only on that basis, agree a private placement agreement with institutional investors to raise the required capital to participate in the refinery transaction: the entry price would have to be considerably higher than the present market price. Following my review of the transaction, my actual visit to the country concerned and meeting with the politicians, principals, bankers and reviewing the financial studies, I remain convinced that CityView’s entry price is attractive to the potential investors. I have had extensive discussions with the potential investors and have formed the opinion they are willing to invest. I have given my informed opinion on the underlying asset value of CityView to the investors post the acquisition of the remaining stakes in Fortitude and Canzar: this is informally acceptable to them and a condition of their investment. This transaction would place hard assets into CityView with potential dividends. In my opinion this is a must as it would substantiate the underlying asset value beyond doubt.
•
Immediately take one of the Fortitude and one of the Canzar assets into production utilising a forward sale of production to provide the necessary capital expenditure.
To acclimatise myself with CityView’s tasks regarding the supply of equipment such as drilling rigs, DMS diamond recovery plant, earth moving equipment etc., I very recently visited various suppliers in South Africa to ascertain availability and pricing. I am pleased to report one benefit of the down turn in the economy is keen pricing and availability.
It is my future intent to keep CityView’s reporting to shareholders transparent, direct and often. I am not a believer in gossip and rumour as a way for shareholders to endeavour to follow the progress of their Company. When there is something to say your Board will say it to all, promptly at the same time in a proper formal notice.
Finally I would like to say we have the finest of assets, which we intend to develop to bring value to the CityView shareholders. I will work tirelessly to lead CityView and promote growth in the value of its the underlying shares. Although the bitter pill for recovery is a low priced rights issue, the rewards will be that we keep and gain proper control of the prime assets, which in turn allows us to reinforce the base with hard assets and become a producer.
I am indeed honoured to serve CityView.
Manuel Africano
Chairman
Just listen to this scambag! He is full of BS! and still telling some shareholders via cell phone that Cityview still could be worth a lot of money and due to a take over! where is the law enforcement ?
http://www.brr.com.au/event/53808/cvi-entitlement-issue-mr-mark-smyth-ceo
Hi Manuella, Just shows how the company's management is so corrupt. They are expecting to bank on another $6 million. Apparently the $14 million that was "seating" on Pensador is not there anymore in form of cash. LOL the excuse is instead they have more percentage on Fortitude. At the end of the story, CityView will stop trading and will let all shareholders with no way to go, while Fortitude will continue to exist for Ian Egan and Mark. Disgusting management.
I heard from my friend in Australia that a commission is about to be sent to ASX for a EGM. I think Mark is not welcome in any city in Australia anymore. He is only getting what he gave to the shareholders and market. Scam and more scam !
Here it is! The joke of the year! Now CityView will dilute the shares to 1 billion shares almost! What a joke! They've finally done it!
A.
Overview
The Company intends to make a non-renounceable entitlements issue (“Entitlements Issue”) of 1 new ordinary share for every 1 ordinary share held at the Record Date at an issue price of 1.25 cents per ordinary share (“Offer”). The maximum number of shares which may be issued under the Entitlements Issue is approximately 498,053,228 to raise up to approximately $6,225,665.
The purpose of the Entitlements Issue is to raise up to approximately $6.2 million (before transaction costs) which will be used by the Company to fund the Company’s existing operations in West Africa and improve the Company’s working capital position.
The Offer is fully underwritten by Pinnacle Capital Management Limited. However, if the terms and conditions of the Underwriting Agreement are not satisfied, or a termination event occurs, the Underwriter may terminate its obligations. In such a scenario, the directors reserve the right to place any shortfall at their discretion at no less than 1.25 cents per Share.
B.
Timetable for the Entitlements Issue
The proposed timetable for the Entitlements Issue is as follows:
Timetable
Activity
Date
Announcement of Entitlements Issue and lodge Appendix 3B
7 November 2008
Despatch of notices to Shareholders informing them of Entitlements Issue
10 November 2008
Level 9, 28 The Esplanade, Perth, Western Australia, 6000
PO Box 5643 St George’s Terrace, Perth, Western Australia, 6831
Telephone: (61-8) 9226 4788 Facsimile: (61-8) 9226 4799
Email: info@cityviewcorp.com Web: www.cityviewcorp.com
ABN: 59 009 235 634 ACN: 009 235 634
Yes Campbell, this guy and his team should be in jail!
Campbell, I understand your frustrations as I'm also a CityView shareholder. The problem here is that Mark is a very clever and canning man and know how to erase his tracks. It will be almost impossible to trace the money as we all know the link between the company and the British Virgin Islands.
He also used his daughter and son in law for his dirt money laundry. I believe he is in Australia right now. I wonder what he's up to now ? Getting another announcement ready on Catabola copper ? hahahahehehe He's been building those drilling programmes since 2006 and somehow still shareholders are believing on his words.
Anyway, I heard from the vines(friend in Australia from a stock forum website) that an announcement on the refinery is about to come out soon. Another surprise for shareholders. The never end stories and lies.
I wish I had sold last year when the US$1.1 billion funding was announced. Who would give that amount of money to a no name company ? gosh, where is the law enforcement when we need it ?
All the best Cam
Cacheira de Binga has been a promise since Mark was on Simba Mines. Shareholders of Simba Mines never saw it happening. Now at Cityview the story repeats itself. Together, Cityview shareholders account for million in loss thanks to this liar! Look at early annoucements when Mark states about the English Virgin Islands. This guy should be in jail and not been able to operate as a director and CEO.
I would be very careful investing in this company. The current CEO Mark Smyth has been involved in many different companies that have not succeed. All those companies had same tenement interests in Angola.
They have never drill one hole and only make placements and raise capital. From Copper to Oil to Uranim, what's next Mark Smyth ? How do you explain the money given to MARCUS JOHN LOCKE your son in law, husband of your daugther PEPITA GRAHAM SMYTH ? anyone can consult www.asic.gov.au from the Australian goverment. Dangerous man.
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