Chesterfield Resources Share Discussion Threads

[smraynot] 08/12/2020 19:04

Interesting times.!!!

[soulsauce] 08/12/2020 16:56

Thanks jay, I thought I was missing something obvious.

Onwards and upwards indeed.

[soulsauce] 08/12/2020 16:28

The share price shot up due to the news - jeeze!!

Hold on Mr Poly, the share price has gone up on that news, surprise surprise (who'd have thought it eh), and so I am going to issue another RNS and set the price higher lol, you can take it or leave it lololol!!

In fact that deserves a rotfl.

I give up.

[harrisun] 08/12/2020 16:25

soul. Yes, they were the same day. The day the share price was over 14p.

The placing was not conducted before the events so would have been organised after its announcement and placed after, and if they were planning on a future placing, its hard to see how they arrived at 9p when even on the day of the announcement of the intended placing they were over 14p.

The company know the placing took place after the announcement, there was no external book build and my broker like many was never even invited to take part.

This was a gift, but in view of the deal then if someone's gained a few cheap shares I'll go with it.

I don't believe the ten day average works where there is information of the stature of the Poly deal and where they would know that deal was in the offing before considering doing a placing.

Think I've exhausted the point now.

So Chesterfield can move on up...although the danger is that shares often drop back to the placing price whether by design or not, to assuage any fears of a cheap placing. Hope not....but if they did, I like many others would then have a chance to fill up on more.

[cool hand kev] 08/12/2020 15:56

The insiders were aware of the forth coming placing @9p and pumped the share price up accordingly?

[soulsauce] 08/12/2020 14:58

Indeed excellance.

[excellance] 08/12/2020 14:53

Placing price is often calculated as 10 day average price (VWAP) so if we go back ten days from the last working day prior to when the placing was announced I think you'll discover that there is no conspiracy.

Consider the deal GGP signed, they gave 70% away for just £5m or similar from memory.

[soulsauce] 08/12/2020 14:31

The Poly tie up and the announcement of the placing was in the same RNS. You don't just think that they miraculously agreed it that day do you instead of working on it for some time?
I didn't just 'pick' a timescale. What I was pointing out is that leading to the tie up and the announcement of the placing 'simultaneously' the price had been below 9p.

It's plain enough:-

Ø Polymetal agrees to invest GBP2.1m in Chesterfield with
the issuance of 23.33m shares at price of 9p per share.
Ø Chesterfield to raise an additional GBP400,000 via a private
placement of 4.44m shares at 9p per share to new and existing
investors in the company.
Ø The two companies have signed a relationship agreement
to govern their ongoing conduct following the investment.

[harrisun] 08/12/2020 14:24

soul. The Friday before the announcement is not relevant to the placing? the placing was after the Poly tie up had been announced? So that was already done? You can't just pick a timescale that has no relevance because the share price was cheaper.

Onwards and upwards though. In the fullness of time it won't matter.

[cool hand kev] 08/12/2020 13:55

I did raise the question a couple of days ago as to whether the share price would pull back towards the placing price once the new shares come to market?
But I'm not suggesting as far as the placing price.

[pranchalee] 08/12/2020 13:17

Getting to top up time

[harrisun] 08/12/2020 13:10

Soul. No if you look at when they made the announcement, then look at today's RNS, it was above 9p and was after the tie in with poly. unless I've misread it.

The company today refers to its 26th November RNS...which was the day the investment from Poly was announced, and the share price way at 14p and rising.

It would be obvious to all that such an investment link would increase the share price even further as it did.

[soulsauce] 08/12/2020 13:09

Harrisun remember at the time the share price wasn't much above 9p and the previous week the share price had dropped in to the high 8s to sell.
The main thing is we have a big partner with deep pockets and a depth of knowledge.

[harrisun] 08/12/2020 13:05

Have to say though that's not a fundraising, that's a gift.

I know sometimes discounting is required, but this fundraising intention announced late November and the share price didn't really warrant a 9p placing price to unnamed 'investors' when even 26th November it was circa 13-14.5p and this was after the Polly investment was noted.

Happy Xmas to some, but don't think it puts them in a good light, as placing at that price was a gift considering the share price which was rising way above the placing price.

Even 20% discount would have still seen a placing price higher than announced.

The BoD's duty is to get the best price it can in any placing...I don't believe they did in this instance.

[soulsauce] 08/12/2020 13:03

Good to see it over the line. Cashed up and a big partner to fast forward the Cyprus copper and gold.

[janestone] 08/12/2020 12:58

Nothing that we didn't know, apart from that the average investors didn't get a look in with the placing. Now to look forward to the real news... And hopefully a santa rally.

[esther1975] 08/12/2020 12:52

Rns confirming raised 2.5 million with allotment of 27,777,888 new shares. Poly own 23 million, so may be a little overhand of the others as purchased at 9p. But obviously good news will send it sky high

[wassapper] 08/12/2020 12:21

That's fine. Better gone now before the news

[excellance] 08/12/2020 12:20

15p seller is back.

8(

[sammythevoice84] 08/12/2020 12:01

Anything and everything is possible I suppose . Anyway , onwards and upwards !

[brad44] 08/12/2020 12:00

wassapper, he knows how to cut and paste rockets..

[excellance] 08/12/2020 11:57

15.44 paid, seller cleared, rising now

[wassapper] 08/12/2020 11:53

Really not worth commenting. He's talking to himself over there. Theres always the possibility I suppose that he knows more than the POLY team and has better geological experience and quals than the CHF team.

[sammythevoice84] 08/12/2020 11:47

Sorry PLC not ltd !