CityView Corporation Limited (ASX:CVI) Shareholder Update For August 2009
Perth, Aug 17, 2009 AEST (ABN Newswire) - CityView Corporation Limited (ASX:CVI)(PINK:CTVWF) makes it possible for investors to benefit from the global need to replenish the world's dwindling commodity resources.
CityView's diversified portfolio minimises risk, while offering above average upside potential to its shareholders.
CityView has many unique opportunities to develop bankable/producing properties in Africa.
CityView's established infrastructure, technical expertise and strong industry partnerships are ideal conditions to move CityView into an income stream.
CityView holds 18.5% of Angola Diamond Holdings Limited, the parent company of Canzar Resources Limited: the operator of the Nhefo and Luachisse Diamond concessions in Angola containing both alluvial and kimberlites.
Nhefo covers most of the alluvial areas of the Rio Luachimo in Luanda Norte. Luachisse is located in the province of Bie.
Canzar's Percentage AreaNhefo 42% 280 km(2)Luachisse 41% 2700 km(2)
Production of the alluvial diamonds will be carried out through Dense Medium Separator (DMS) mobile plants.
CityView has agreed, subject to ongoing due diligence, to acquire a net 18.325% of a specialist coal fines company in South Africa. This company owns stocks of coal fines and is constructing two coal briquette plants, utilising proprietary technology, and with in-feed systems, each accommodating 100 tonnes/hour of wet, fine coal on slurry.
CityView has also agreed, subject to further due diligence, to acquire an interest in a private company owning anthracitic and coking coal deposits in the Utrecht coal province in Northern KwaZulu Natal of South Africa.
Oil: Cameroon and Angola
CityView is pursuing discussions with the Cameroon Government on their alternative proposal for compensation to CityView on Matanda PH72.
CityView is also maintaining dialogue with the Falcon group in Angola on possible participation in their oil concession areas.
Deanshanger Projects Limited ("Deanshanger"), a leading infrastructure development and finance group in Nigeria, have agreed to enter into a joint venture with CityView to acquire a 55,000 bpsd crude oil refinery for installation in the Delta state of Nigeria. However Deanshanger has now decided that it will not enter into the final contract phase until all consents are in place. Accordingly CityView has decided to pursue a number of other alternatives both within and outside Africa.
The refinery will produce LPG, jet fuel, kerosene, gasoline, diesel and other related products which are in short supply in Africa.
For the complete CityView's Shareholder Update August 2009, please click the link below:
Chief Executive Officer