CANADIAN OVERSEAS EXPLORATIONS (CVC.V) Message Board

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Gold/Mining/Energy : CANADIAN OVERSEAS EXPLORATIONS (CVC.V)

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To: pete meyer who wrote (17)	4/8/1997 5:19:00 PM
From: Rook	of 113

- As far as Maymac is concerned, I didn't get off the train that early. The stock whipped throught the 30's in one day, so I didn't have a chance to sell until it reached 46c. I felt like a goof for a few days when it hovered around 60c, but felt like a genius again when it took its severe plunge. If you want to know my current feelings about MMA, I will post them in that forum. - The latest numbers (Nov. '96) show CVC to have a working capital of $607,000. This should be more than enough to help them acquire the rights to some interesting properties. - What are Raftery's talents to drive a stock? The best I can say is that when he puts in his time and money things start to happen. Look at Reply #13 if you want some examples. - Why is Stephenson not involved anymore? This news release from December '94 should answer that question: --------------------------------------------------------------------- Shares issued 26990235 1994-12-19 close $0.1 Tuesday Dec 20 1994 News Release Mr James Stephenson caused the company to: enter into an agreement on October 25 1994 with the shareholders of Seetek Pty Ltd to undertake the purchase of marine diamond concession 14b; make a payment to the shareholders of Namagroen Prospecting and Investments (Pty) Ltd of R1,000,000 without discussion by and without the authority of the board of directors of the company. The reports lodged by Mr Stephenson with the regulatory authorities indicate that he sold a substantial number of shares during the period April 4 1994 to September 8 1994 when the company was attempting to raise funds which are essential to meet the continuing commitments of the company. For the above reasons a number of shareholders have expressed the view that Mr James Arthur Stephenson and Ms Amy Stephenson may not be acting in the best interests of the company. We have been advised that an extraordinary general meeting of the members of the company is to be called at an appropriate time to both consider and vote on the composition of the board of directors. ---------------------------------------------------------------------

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