Chesterfield Resources Share Discussion Threads

[janicesolihul] 07/1/2023 22:53

A Plc mangement team is judged primarily by one thing, the share price and the Chesterfield share price is at its all time lows, sub 2p.

So what exactly has Paul Ensor done since he pushed out Martin French six months ago? Sold Adeline to a former director's business partner, shut down Cyprus and laid off all the staff there and there has recently been almost zero communicaton with shareholders.

What is the plan to get the shares back up to 10p, where they used to be?

[excellance] 06/1/2023 16:36

8 Nov 22
"Chesterfield will also entertain proposals for joint venture or direct investment in the Cyprus licences though no such discussions are currently advanced."

...what does "advanced" mean?

[concentrate] 06/1/2023 14:28

Good points.

I agree on Adeline, I was critical at the time. Particularly as I didn't understand the risks associated with First Nation claims. Also the fact the claim area sat in a lake (although frozen in winter) sounded like an ecological disaster from a mining perspective.

[excellance] 06/1/2023 14:21

Ensor and Ajay are paid peanuts compared to Martin French, and they've strived to cut costs across the business.

I was never happy when we signed Adeline in the first place, so selling it for £800k and a free carry is fantastic news. At the time I argued that Adeline was isolated, huge, and we simply didn't have the cash or capacity to work it, and that CHF would need to change gearing to accommodate it.

In Cyprus again we had too many licenses to ever work on given our tiny part time team, no kit of our own, and very little cash.

Selling Adeline and creating a JV at Westline is the perfect solution.

Are we now a holding company?

Maybe, but that's a great low risk low cost way forward for a company with no capacity to do anything except interpret geology maps, assays, and shuffle paper in the board room.

[concentrate] 06/1/2023 14:11

Problem is excellance, that most people view that £800k to mean a couple of drill holes in Cyprus and then the rest to keep the directors in gainful employment for a year or two.

In other words, they've swapped 100% for 20%, with almost nothing in return (for investors, that is).

You must have been a little disappointed when they handed back almost all the Cyprus licenses?

I can't understand where this could possibly go now. Would probably rather they did a dividend in specie of the Pacton share and sell Cyprus to Poly (they must have influenced the Cyprus license handback decision) and shut up shop.

[excellance] 06/1/2023 14:00

We may now have a double bottom, and reversal. Looks like we could break 2p soon, maybe even today, and I think that with the opportunities on offer for 2023 this should easily be a 4 bagger from here, possibly a lot lot more.

[excellance] 06/1/2023 13:49

I think Adeline came to us at a bad time. We had no cash, had disgruntled shareholders because of the long wait for assay results that some wrongly thought we wouldn't get, and the markets went off a cliff as liquidity drained.

We have however already monetised Adeline by selling it to Pacton for £800k plus another £193k and getting 20% of their entire company including their wider portfolio.

At Westline we eventually got decent assays, thanks to Polymetal help. Poly are in a bit of a mess and are looking at divesting their Russian assets to form two separate companies, and once they've done that we'll know where we stand with them.

[excellance] 06/1/2023 13:33

Adeline is known to contain copper and silver, plus other anomalous metals.

Drilling half a dozen holes will help us understand what is there, but it'll take decades to properly unlock.

Dilution at under 2p was unthinkable, so passing it to Pacton solves that problem, and they have the human capital and kit to deliver.

Cyprus is good, Westline is massive, partners are in the wings, but a lot depends on first drilling Adeline and getting positive news there because it allows us time to consider what we want to do with Westline and which asset is our focal point.

[pensionplanner] 06/1/2023 08:52

As you know I wanted ALL of Adeline, so the deal with Pacton just didn't cut it for me as it no longer fitted my target. CHF sold 100% but got a significant shareholding, but although funded at present Picton will be raising more and more by way of placings, which will dilute CHF's holding unless it too pays for any placements to maintain the status quo.

Pacton primarily gold, and it would never surprise me if Adeline turned up some decent gold assays too, and if that happens quickly then it will help CHF.

Its only if its prolonged with Pacton tapping investors time and again, that it may be deleterious.

I was never that keen on Cyprus alone, so it made my decision easy, even though you'd be hard pressed not to find gold in Cyprus as any trip to their museums demonstrates.

Markets certainly have been hit for six, and CHF no exception, so here's hoping you get a really decent result in Cyprus and Adeline, but where I'd still have been happy to help finance Adeline under CHF umbrella as I considered going for it myself!

I did though pick up 'a few' Pacton in October and November.

Rarely post on a bb after selling, but I still hold a few here.

Good luck all

[excellance] 05/1/2023 17:30

The last year has seen a lot of selling across many shares, and little buying. The wealth destruction has been horrendous as mkt caps collpsed, yet CHF haven't diluted so the market is wrong to mark this down, and weare now funded, assuming the Pacton deal closes.

Look at our mkt cap Vs cash receivables in the next year, then consider drilling at Adeline at no cost and a similar partnership deal at Westline and we have significant potential to bounce from here to reasonable value.

[pensionplanner] 05/1/2023 17:22

Pleased for you all, but it still doesn't really fit in with my portfolio, but onwards and upwards for you hopefully.

Maybe my selling over a period held it back

Good luck all

[excellance] 05/1/2023 14:55

So I'll take his advice with a large pinch of salt...but agree on this occasion.

All eyes on Pacton.

[excellance] 05/1/2023 14:54

Doc Holiday earning his crust.

Personally I don't believe a word he says, but on CHF I agree with him, even if his motives are mercenary, he's paid for his picks.

[cowie19] 05/1/2023 14:45

lol nice thought

[excellance] 05/1/2023 14:38

Go Chesterfield...

To infinity and beyond!

💥💥💥🚀8640;🚀

[burtond1] 05/1/2023 06:26

Is the Doc handing in his Sheriff's badge?Here, @DDS_DocHoliday expands on ideas, mindset and strategy for 2023 with @copytaster Companies and subjects covered by Doc include :#AVCT #BOO #BTC  #BEN #CHF #CGO #DEV #GGP #HVO #IDS #NCYT #POLB #RBD #VRShttps://total-market-solutions.com/2023/01/guest-interview-vol-16-doc-holiday/

[excellance] 04/1/2023 17:38

Hopefully 2023 will be way better than 2022 for CHF, it would be a disaster if it gets worse.

[excellance] 04/1/2023 13:26

When I contact the directors, and former directors, they are very approachable, pleasant and helpful.

They have been working very hard behind the scenes to achieve the goals they set for CHF, news coming soon...on Pacton plans first, then once that's done on Cyprus.

[excellance] 04/1/2023 13:02

FWIW I sold most of my PF last summer, including 1.5m of these.
When the share price hit 1.4p a while back I bought half of those back. I feel much more comfortable about holding this now that it's bottomed, and we have a little clarity on funding Adeline.

We will have some cash in the bank too when Pacton close the deal, but it's not closed yet!

If Pacton can't raise the required capital then it's back to square one, so still a lot of risk here re dilution.

[pensionplanner] 04/1/2023 10:09

Apologies if its hit your price but over the last week or so I've sold a few million Chesterfield, as it no longer fits my portfolio aims without 100% ownership of Adeline.

I have approximately 1 million left that I will just tuck away, so wishing you all well.

Hopefully if your drill results are good it will pick up, but it just doesn't fit my portfolio.

Good luck

[excellance] 03/1/2023 21:56

The other directors, watch the interview.

[highley1] 03/1/2023 20:37

Excellance,

Who were the others who thrust Adeline on him, out of interest?

[excellance] 03/1/2023 10:27

Some Muppet is selling out at 1.40p 🤣

Giving this a mkt cap of £1.8m 😐

Maybe the Pacton deal is off? 😭

Where would that leave us?

[excellance] 03/1/2023 09:02

Who else is there to blame but the CEO who signed us up for Adeline, got us involved with the Russians, promised a dual listing, then failed to deliver.

There are mitigating circumstances, Adeline was thrust upon him by others, the war wasn't his fault, and the bear market was unfortunate, but he was the man in the driving seat and off a cliff we went.

[ruthfuller665] 30/12/2022 16:42

No junior explorers were raising money earlier this year because of the bear market. CHF has been reduced to a holding company of 20% of Pacton Gold.