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We now have a route to riches.
The sterling fund raising did dilute our holding but now we have two funded and exciting large projects, and we can look forward to getting Cyprus moving soon.
Gold and copper...fully funded...Not an aim stock...whats not to like, just give it time...soon be 4/5 p
16 May 2023
CHESTERFIELD RESOURCES PLC
("Chesterfield" or the "Company")
Update on Canadian Assets
Following its successful fundraising in Canada, Sterling Metals ("Sterling"), in which Chesterfield holds a significant equity stake is planning a very active few months of exploration, including drilling on its two properties in eastern Canada, Adeline and Sail Pond. Sterling raised a total of CAD$6.476m (£3.8m) through equity issues which were completed and announced on 17 April. These funds have brought Sterling's overall cash position to total CAD$7.75m (£4.5m) and have put it into a strong position from which to pursue an aggressive exploration campaign with a budget of CAD$4.25m (£2.5m) this year. Sterling has earmarked CAD$2m (£1.18m) for a 2,500 metre drill campaign this summer in Adeline, in addition to the CAD$500,000 (£296,000) airborne survey planned over the licence area. In addition, Sterling will be spending CAD$750,000 (£443,790) on a 2,500 metre drill programme on its Sail Pond licence area as well as CAD$1m (£591,715) on general technical services.
Chesterfield owns 4.5m shares in Sterling which it received in addition to CAD$400,000 (£236,686) according to the agreement announced on 6 March. According to that agreement, Sterling agreed to purchase an option to acquire full ownership and rights over the Adeline project in exchange for these payments. In the event that Sterling decides to complete its purchase of the Adeline project, it will pay Chesterfield a further 4.5m shares and CAD$400,000 (£236,686) no later than 20 November 2024. As of close of business on 15 May, Chesterfield's stake in Sterling was valued at CAD$562,500 (£332,840). To put this into context, this means Chesterfield holds a 4% stake in Sterling which at close of business on 15 May had a market capitalisation of CAD$13.96m (£8.26m), a valuation amply supported by its strong cash position and nothwithstanding the imminent exploration activity.
Chesterfield Executive Chairman Paul Ensor said, "Sterling's success in fundraising in difficult markets is very good news for Chesterfield shareholders. It is equally gratifying to see Sterling give Adeline the emphasis that it deserves within its overall budget and we very much look forward to hearing of the results of their ambitious schedule of work there and at Sail Pond in the coming few months. Chesterfield shareholders are closely aligned to potential results of this extensive work on both projects through its shares in Sterling."
If you read between the lines of today's RnS, it says Nestle will be buying out CHF and building a condom factory on our tenements in Cyprus.
The wise are buying the assets are there, the partners are there the profit will be there
And remember only 130m shares in issue....
Gold and copper...fully funded...Not an aim stock...whats not to like, just give it time...soon be 4/5 p
its a no brainer from here... drop way over done..
5 for the price of 1
ATB
Nibbled a few
Insiders accumulating retail chancers selling its just so easy
Big spike on volume here. News on the way?
im confused. Lower lows. Why exactly are peeps so cofident of this share please
The sleeping giant is going into a deeper sleep...
No bad news there and signs of green shoots. Positve language from Ensor who can take this company forward again. Not a bad looking entry from 1.25p 1.6m cap levels...
“…Well chosen gold miners can offer premium returns above the gold price and a more rapid appreciation than the product they sell. Investors looking for value might look beyond the mining majors to small gold miners…”
Below we pick out a 14 small cap gold miners worth watching :
#CHF #ECR #EEE #GRL #GGP #GUN #LND #LEX #OMI #PALM #POW #SRB #SHG #THX
https://total-market-solutions.com/2023/04/is-the-gold-rally-here-to-stay-14-small-cap-gold-miners-worth-watching/
And only 130 m Shares in issue....10 bagger at least from here
Gold at year highs capitalise with a plan for Cypriot licenses and theres a bag or two from this level
Formulate a strategy for Cyprus gold capitalise on rising prices. Double money from here
Glad I finally lost confidence in this dog and got out reasonably intactus. Even bought back in at one point but then the Heavens opened and I saw the light!
It has dropped about 90% from its highest, though the Praise Singers still try to predict a good future; we will see.
Good luck to all those that have survived the Slaughter of the Innocents (not just on this share. Risky business, AIM).
I mean it virtually underpins the mcap and reduces the risk of a raise near term, so who knows.
Its a good deal... Retains exposure to Adeline and the Silver tenements 500km away.
Cash , exposure and able to concentrate on Cyprus Gold extensions.
Funny market.. Great long term hold from here.
ATB
Thoughts?