Chesterfield Resources Share Discussion Threads

[excellance] 20/12/2023 17:06

After Martin milked the company, failed to find any copper on an island made of copper, then failed to secure funding for Adeline, he bailed out.

You should follow him.

With Adeline bringing back only encouraging assays, we may get the entire project back soon.

[kiplig] 20/12/2023 16:40

At least Martin French was trying. He invested his own money, alongside ours, so was at risk and aligned to our interests. New management take salary cheques, but haven't invested anything meaningful, and this their interests are not aligned.

[excellance] 15/12/2023 12:45

I wonder which project Sterling would prefer to run with, sail pond or Adeline?

Sail pong got 30cm of high grades, but Adeline got 30m of low grade.

If Sterling opt for Ade, then raise funds for another run, our holding will be doubled, but diluted, and we get £186k.

News on Westline funding may depend on what Sterling decide to do.

[excellance] 09/12/2023 03:18

Promising first drilling result from Adeline, with 10 out of 11 holes hitting, but no cigar yet.
SAG are leaving a rig on site to potentially drill thru winter, presumably on the lake.

Will this be enough for the deal to be closed giving CHF some much needed cash?

[highley1] 04/12/2023 20:43

Well I wish you luck, that's £450 I wouldn't risk here personally.

Why not put it into a producer for the leverage to the gold price instead?

[excellance] 03/12/2023 13:45

Let's be honest...

CHF was set up to do one thing, search for copper rich polymetallic deposits in the Troodos mountains.

They managed to get funding for one moderate sized attempt at diamond drilling with the aid of other state of the art technology after previous low budget RC drilling showed promise.

The diamond drilling was indecisive, didn't hit the jackpot, and COVID severely hindered progress.

It became apparent that Cyprus would need more funding, and connections managed to get hold of Adeline to "fill out" the portfolio, but that meant CHF had two projects to finance, and no staff or equipment to that in a rapidly deteriorating capital market.

Frenchy tried and failed to get a secondary listing away which would have included issuing shares and raising capital, that is the point of such exercises.

That failure meant that Adeline had to be farmed out, and Westline too to a lesser extent.

Capital markets have not improved, so we have to wait and see if Sterling can get a good result, and what the CHF share price will be when PE and AJ negotiate terms to get Westline another roll of the dice.

To summarise, exploration is always high risk, capital markets go up and down, CHF have had a dreadful year or two and are on a knifes edge, but things can only get better, or go bust...but we knew that from the start, didn't we?

Interestingly SAG closed up 40% on Friday, from a very low share price Could be something or nothing, time will tell.

[bozzy_s] 29/11/2023 02:39

As an outsider looking in, I can't see how the former board/boss was any better than the current one.

It's gone from a high-risk cash-hungry prospector (one of hundreds - nearly all end up failing) to a lower risk company, with minimal overheads and less exposure to potential upside. But it's cut expenses to stay alive for as long as necessary to get a RTO, income from the prospects they sold, or to prove up and sell/farm out another prospect.

It'll most likely be a boring and frustrating wait. Whether it takes 3 months or 3 years, we'll see. What sort of deal they make, we'll see. Might be somewhere to park a few quid at current <£1m valuation. But definitely not a stock to anchor a portfolio!

Good luck long termers.

[cbeadle] 28/11/2023 10:48

Decided to buy this morning. It’s pretty much sleeping @ the moment, but activity should lift the share price if we get any

[kiplig] 25/11/2023 05:38

What a disappointment this has been. The binned Martin French who was honest, hardworking and invested his own money alongside shareholders. The stock is now 1/7th of the price it was then, and we now have a management team who don't appear to have a clue what they're doing. Anything they do now will require massive dilution because they essentially have nothing.

[excellance] 25/11/2023 01:29

I've been saying for months that a RTO is the most likely outcome, as an actual "going concern" takes our London listing, and our assets, to create an actual business.

The "not spending any money for months" thing is purely to preserve the company until the RTO happens.

[bozzy_s] 24/11/2023 15:18

Crikey, relieved that my gut instinct was right. Ultra short-term traders from yesterday.

The 400,005 trader was an absolute idiot. Paid 0.762, sold at 0.42, after holding for 4 trading hours. What an incredibly stupid thing to do! Why not hold for as many months as needed to get 0.6 or 0.7?

[highley1] 24/11/2023 09:29

Not spending any cash?

Maybe that's because they know they can't get a financing away?

The multitude of trades yesterday were in the low hundred of pounds, suggesting a promotion somewhere, rather than "connections" buying in!!

Why do you continually post like this?

[excellance] 24/11/2023 01:15

Still a loss maker, but the company are not spending any cash, in fact they have no staff or equipment to worry about and projects are outsourced.

Not a pump n dump that I'm aware of, but possibly speculators punting on Adeline drilling, or maybe "connections" know about the Westline deal?

[bigglesbingham] 23/11/2023 23:53

Did you add at 19 p excellence ? Sure you were still promoting at that price. Now you say boom to 0.7p. Well done

[bigglesbingham] 23/11/2023 23:50

A bit different than 19p still a basket case but reversed take over on cards

[bozzy_s] 23/11/2023 16:54

I was almost tempted to buy for a trade after the jump. I know it's a pump + dump. The earlier buys will be sells within a few days. And those at 0.5 would probably be happy to take 0.6 for a 20% gain. Based on that, I thought buying at 0.74 would be stupid.

The company seems to have turned around. No longer a money-squandering basket case. Looks like overheads are around £0.2m per year. Cash in bank plus listed shares worth almost the market cap. That's what almost tempted me.

Might be worth a gamble after today's traders have sold.

[glavey] 23/11/2023 16:29

When there are no fundimentals left (or none in the first place), it just becomes a promoters toy. It's a bit like turning on the garden vac. and seeing how many dead leaves you can pick up.

[profit7] 23/11/2023 15:39

Could rise like IMC did past few weeks
300%
Quitely

[profit7] 23/11/2023 15:37

Maybe Mms realised Sp is too cheap, or news pending Tomorrow or next week


Main listed,

[gregoray10] 23/11/2023 15:24

What's behind the sudden jump?? Doesn't seem to be any significant trading

[excellance] 23/11/2023 15:00

Boom!!!
💥💥&#128165;🚀8640;🚀

[highley1] 21/11/2023 21:54

excellance10 Nov '23 - 11:36 - 6268 of 6272
0 0 0
The door is now open for the next stage, and potential transition via transaction and corporate action to become the next Ivanhoe or Franco Nevada...


What? I bet you couldn't keep a straight face when you typed that!

Pierre Lassonde founded Franco Nevada, and invented the "Lassonde curve".


Here we have a variation of that, it's called the "Ensor Slope"

As in ski slope

[texaschaser] 20/11/2023 11:59

I remember when Doc H was pumping this POS and his merry band of poodles was lapping up every drop. Salvage mode on. I was right.

[excellance] 16/11/2023 16:09

Todays news from Sterling is from Sail Pond. Adeline assays are now in the lab tho delayed which is always a worry.

I don't care about Sail Pond, that's just a free spin.

The odds are stacked significantly against explorers as always, but the game is not over.

Looking forward to the next AAU release.