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Gold/Mining/Energy : CANADIAN OVERSEAS EXPLORATIONS (CVC.V)
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To: Ron Boyce who wrote (84)1/30/1998 8:30:00 PM
From: Irene Sinkovits  Read Replies (2) of 113
 
Today I called the CVC offices (which are shared with BPI) in Vancouver (phone no. (604) 685-8688 and spoke to Nav Badyal. This is a summary of of that conversation:

Five of the 6 leases the company had in Africa have lapsed. The VSE has requesting clarification of the remaining lease. The Australian director (I assume this is the president Costa Vrisakis) is currently in Africa trying to get more information on the lease. However, Nav says that it is a toss up at this point whether this remaining lease will "qualify" i.e. meet the VSE requirements to allow for the re-listing of the company's stock.

However, CVC has another iron up its sleeve. It is in negotiations with another group with respect to another project. The details of this project are being submitted to the VSE for approval on Monday (Feb 2). This project has been in the works for some months. The other party is eager to go ahead. Financing is no problem (people are ready to finance the deal).

I did wonder (out loud) how much this financing would dilute the value
of the existing shares, but Nav didn't really answer that and I didn't
pursue the matter.

P.S. - Nav advises CVC/BPI are expecting to get a 1-800 phone number a
couple of weeks time.

If you find the above information useful, I would appreciate it if you
would keep me in mind and e-mail me if/when you receive any further news as to when we can expect the stock to start trading again! I very, very rarely visit this site.
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