Chesterfield Resources Share Discussion Threads

[ruthfuller665] 25/5/2023 20:56

There is still plently of downside, even from this all-time low share price from 1.2p. There is certainly no upside prospect of it getting back to where it used to trade under the previous management.

[excellance] 25/5/2023 10:48

ruthfuller66522 May '23 - 23:20 - 6024 of 6034

"There is no drilling in Cyprus, nor any JV discussions. Everything in Cyprus is shut down..."

"No drilling in Cyprus"
Correct, plans are being drawn

"Not any JV discussions"
Ok, so no JV, but discussions are ongoing regarding other forms of investment into our Cyprus assets

"Cyprus is shut down"
We only ever had a rented rig and a contracted field team, we are currently planning our next step including how to fund it with partners.

Cash burn is negligible, Canada assets to be funded by others, Cyprus deal is possible in due course, and other assets and partners could come into the fold too.

Very exciting times ahead, and very little risk at the current price of 1.20p

[excellance] 24/5/2023 09:17

Then they spend all day and night trolling on advfn.

[ruthfuller665] 24/5/2023 09:14

What if they sell the company’s cleaning equipment, pocket the cash and then don’t turn up for work?

[the modeller] 24/5/2023 06:05

And if they clean badly they re a given a warning, and if they fail to clean they are dismissed.

[excellance] 24/5/2023 06:00

£25k?
A cleaner gets that wage in the UK.

[ruthfuller665] 24/5/2023 00:24

The share price has collapsed to 1p

Despite the company’s depleted funds, AJ just paid himself a bonus of £25,000, for what?

[excellance] 23/5/2023 20:52

Last year Frenchy paid himself £136,000 and he resigned in February.

Compare that to the wages AJ and PE received, £87k and £36k...!!

Frenchy failed to deliver at every level, and I'm sure AJ and PE can't be any worse.

If we drill this year in Cyprus I'll be amazed, but I do expect that plans are being drawn up as the company takes a new shape.

[excellance] 23/5/2023 17:54

Wow, huge trade, 904 at 1p.

Someone must have needed money for a postage stamp.

Polymetals Russian gold assets are now in the cross hairs of Bidens brown shirts while his own country goes down the toilet.

[ruthfuller665] 22/5/2023 22:56

There is nothing left. Just two people paying themselves.

[ruthfuller665] 22/5/2023 22:51

Polymetal just got sanctioned, they have other things to worry about.

[excellance] 22/5/2023 22:50

So polymetal are still on board even tho we're a shell with no meaningful assets?

Interesting idea.

[ruthfuller665] 22/5/2023 22:20

There is no drilling in Cyprus, nor any JV discussions. Everything in Cyprus is shut down.

[excellance] 22/5/2023 15:57

Ruth and her short brigade have gone quiet, going long again are we?

[excellance] 22/5/2023 11:29

What does advanced mean in this context?

"no such discussions are currently ADVANCED"

I take that it means "not at an advanced stage" at the time of writing, but not that discussions weren't taking place.

I wish companies wouldn't use ambiguity.

"Advanced" means to bring forward, so it could mean that talks have not come forward, but "are not advanced" could just mean "early stage" or "preliminary".

Is PE being obtuse to hide the reality,

[excellance] 22/5/2023 00:56

Plans, currently being developed, include more drilling to continue to test the mineralised system for massive sulphide with potential in all directions.

The scope and timing of the plans will depend on factors that will include the sale of the Adeline interests and prevailing market conditions.

Chesterfield will also entertain proposals for joint venture or direct investment in the Cyprus licences though no such discussions are currently ADVANCED.

Advanced?

[excellance] 21/5/2023 09:37

AJ is still "interim" CEO, so presumably they are looking for a capable replacement.

In Cyprus CHF are dispensing with non core assets to focus on the three Westline licenses. The bank balance is looking a bit fragile, probably about half a million quid, but maybe a partner will fund our activities for a slice.

We never had £1.2m for Adeline, and our Canadian investors were opposed to dilution for Adeline, Frenchy failed to find funding, could be an interesting H2

Our mkt cap is just £1.2m at 1p, equal to our 8% of SAG plus cash in the bank, and nothing at all for Westline.

Clearly the Adeline moves have divided the board and shareholders alike, but now it's been divested we can put it behind us.

Looking forward to news from Cyprus...

[ruthfuller665] 21/5/2023 03:47

Another of Excellence’s daily dose of false and misleading information

Sterling Metals has a drill budget on Adeline of C$2m (£1.2m), the same as CHF had, in other words very little. It is a big piece of land, but you just drill the prime targets first. So the idea that Adeline was “too big” for CHF was simply not true. Flight time to Labrador from London is only about five hours, not much further than Cyprus, so its location was not an issue either.

Not only was it very do-able, Adeline is an extremely attractive project right now. Canada is primed to be the “critical metal supermarket” for the United States, as there is no geopolitical risk.

Any initial drill success at Adeline could have easily have propelled CHF to the next level, ie a 20-50p stock. On drill success, which looked pretty likely, CHF could have gone out and found a major JV partner for the project, on a strong valuation. The strategy was designed to build CHF into a significant company for shareholders. It made a lot if sense and was quite a normal path forward for junior explorers.

[excellance] 20/5/2023 12:03

When the Adeline deal was signed I said at the time that CHF didn't have the capacity to explore it, never mind two projects half a world apart.

The financing and structure of the company would have to change, and a rational and reasonable strategy devised.

Adeline may well deliver, but ploughing cash into a company with two assets to fund only one is just daft.

Direct finance into Adeline was always the best option for investors like Damouni, but for a risk mitigation strategy it is better to have a diverse portfolio funded by others.

Even investing into Sterling isn't a direct investment into Adeline, as they are working other assets.

I wonder how Altius thought CHF was the best way forward, and why they still hold CHF shares, and also what Poly think of the situation, and what influence their director on our board has?

[excellance] 20/5/2023 11:44

And what is your interest?

[ruthfuller665] 20/5/2023 09:19

These people have a history of stripping money out of companies and ripping off their shareholders.

hxxps://www.pressreader.com/canada/stockwatch-daily/20190625/281487867884163

[ruthfuller665] 20/5/2023 08:49

As you well know, Damouni is the business partner of Nav Dhaliwal, CEO of Pacton Gold. They share various boards. CHF said it was a competative bid for Adeline, but it probably never was, it was always likely destined for Pacton. The management made up all sorts of stories to justify selling Adeline. It was a lousy deal for CHF shareholders, but fell through because, unsurprisingly, they never raised any money or got regulatory approval. With the sweatheat deal gone it seems Damouni left as an “Advisor to the Board”

[excellance] 20/5/2023 08:18

And Damouni, where does he fit in with Sterling, is he not still "advising" CHF?

[ruthfuller665] 20/5/2023 06:08

Yet another raft of falsehoods that are now coming daily from the Excellence mouthpiece

Chesterfield had a full time staff of masters graduates from the Cambourne School of Mines and McGill University in Canada. It had a Canadian project manager based in Newfoundland

It had £600,000 in the bank, the secondary listing paid for and C$2m lined up with Canadian flow-through funds

It had drilling approval and a $100,000 deposit lodged with a local drilling company to secure the drill

Excellence/Ensor knows all this, and it is all very provable. It is just brazen effort to mislead the public via his campaign on the bulletin boards. Some Chairman.

[excellance] 19/5/2023 18:22

As I said when Martin took on the Adeline licenses, CHF have NO CAPACITY to drill and develop it.

CHF has no staff, no money, only part time directors, and no kit at all. The company needs approval from the authorities to drill, and as essentially a shell company we were NEVER going to get approval in Canada where there is a bustling mining sector and plenty of capable companies, like Sterling.

In Cyprus the situation is different. The Cypriots want explorers to drill as there is NO active mining sector, and we had success with our borrowed rig and temporary staff, but again we don't have the human capital, kit or cash, so our large Westline license will need to be farmed out.

Our CEO is still just "interim", so it is clear to me that we'll be taken over VERY SOON, probably by Venus, to take our London listing, but that probably wont happen until Sterling drill and have some success.

So where is Damouni?

Is he the investor buying into Sterling via "flow thru" placing?

Probably.

Martin French hasn't been seen since he got sacked following the board vote, but he's probably behind Damouni with his money too.