Chesterfield Resources Share Discussion Threads

[32campomar] 13/11/2020 10:19

A very interesting situation, it was brought to my attention as a buy recommendation last night on the excellent Mike Walters site. I have bought in this morning, could be an exciting ride. So few shares in issue, tiny market cap too, lots of potential.

[soulsauce] 13/11/2020 10:08

They are allowed to dilute further but not this financial year. And when they do dilute the 20% limit will mean they can only issue 14.6m shares, but if the share price is somewhere above 15p that will be a serious chunk of money and still well under 100m shares in issue.
I think some sort of partnership is likely too.

[excellance] 13/11/2020 10:00

This sets us up beautifully for the assay results.

Meanwhile, drilling is still continuing.

Beyond that, we have to consider what it all means for this £7m mkt cap company.

A new drilling program in the spring will cost money, but how will they get the funding they need?

Dilution seems likely, but are they allowed to dilute further?

Strategic partnership seems very likely.

[excellance] 13/11/2020 09:44

Has anyone tried buying, is there any stock available?

[catsick] 13/11/2020 09:29

Agrokipia looks very interesting indeed, high grade and has been mined since Roman times, lots of toxic tailings in the area so also reprocessing may be a good idea and clean up the environment too a bit like what jubilee are doing in Africa

[driver101] 13/11/2020 09:16

Soul

Wise words, I’ll be topping up on any dips.

[soulsauce] 13/11/2020 09:11

Sell on news brigade out in force, a bit short sighted I think :-/

[soulsauce] 13/11/2020 09:00

Great post wassapper.

That historic mine with the high grade has me intrigued. I wonder if there is still a useable adit and if so what would it take to bring it up to being usable.

[wassapper] 13/11/2020 08:56

This is really interesting ...

"Due to the success of the surveys at Troodos West, it was decided to extend the survey programme to a target area at Troodos North, named Agrokipia over 70,000 m with 16 stations read. This area contains an historic high-grade underground mine with reported grades of up to 4% Cu (copper) and 6% Zn (zinc). It is believed that the mine closed down as the miners in the 1970s reportedly found it difficult to separate the zinc from the copper in the flotation circuit. As a consequence, a significant amount of this mineralisation is believed to remain in situ. The AMT survey at Agrokipia provided strong indications that there might be more mineralisation as yet undiscovered and, consequently, Agrokipia has become a new area of strong interest for the company's exploration programme. A thorough data review of Agrokipia is in progress"

[janestone] 13/11/2020 08:37

This has great potential, can't wait to see the first numbers.

[excellance] 13/11/2020 08:25

Martin French, Executive Chairman said "We are very pleased with the results of the AMT survey programme and as a consequence decided to expand it at both Troodos West and to Troodos North. Not only did the survey identify areas where we knew mineralisation to exist, but it has successfully vectored our diamond drill onto new areas of sulphide mineralisation. It has also provided us with new targets for our next drill campaign planned for the spring, when we also expect to commission further extensive AMT surveys over additional sectors of our licence areas."

[excellance] 13/11/2020 08:12

I do wonder if there will be any stock available for buyers to acquire?

[excellance] 13/11/2020 08:08

Also, the news of another drilling campaign in the spring underlines that these are onto something big, and may have already sorted funding for that.

[excellance] 13/11/2020 08:04

I think that 4% copper 6% Zinc remark could bring us some interest.

[soulsauce] 13/11/2020 08:01

Steady excellance, I am not sure we will see much above where we are until drilling results.

[sharekitchen1974] 13/11/2020 08:00

That would even more awesome lol

[excellance] 13/11/2020 07:59

Guesstimated closing share price todsy?

My guess is 20p

[sharekitchen1974] 13/11/2020 07:34

Awesome results

[soulsauce] 13/11/2020 07:22

Very good news, looks like it has been a very worthwhile process alongside the drilling.
Reading between the lines the drilling has already found lots of mineralisation but then we knew that from some of the tweeted pictures.
The old high grade mine sounds interesting. With modern techniques I would think separation wouldn't be an issue. 4% copper and 6% zinc nice.

[3ootuk] 13/11/2020 07:22

Looks like loads of work for the drill teams to confirm the targets and get some resource numbers.
Having 3D models for a smaller area should also spike interest if the different zones are analogous.

[pranchalee] 13/11/2020 07:12

Thins looking very positive

[3ootuk] 13/11/2020 07:10

There's your RNS