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Are you able to share the insights have you picked up from him?
Burleigh - I have some similar underlying feelings to you. However, what I'm finding really difficult at the moment, when assessing how I feel, and in assessing junior explorers right now inc CHF (gold and copper ones in particular) is how much of this is down to the company itself, and how much is to do with sentiment/underperformance in the sector itself? You see, I am finding similar situations and debates happening across the bb of this sector. It has clearly been a much tougher market climate this year compared to before, for example. I'm holding a lot more cash right now (60%) and being very selective about whether, when, and who to invest in right now in the junior exploration space.
If not he talks more sense than you Period :)
https://youtu.be/DrHkLv2414o
Destitute.... This must be you
These cheap shares will be swept up before you know it D....
Waiting on a land sale...when it completes I am doubling my holding ..but in little daily increments to get us back up there....
To good to be true@ This price....
GLA Holders
Which is more valuable D...... :)
https://youtu.be/ntG50eXbBtc
A big step forward I know......
I think CHF will ring the bell with the next assays....
It's very good to see Polymetal taking an ACTIVE interest and contributing to our drilling plan as well.
They tweeted again so I guess you were right pranchalee, Martin was on the mend.
We shall see D.....
Who is right and who is wrong
ATB
I think he may have a few Alias's
Ayatollablair on the Pow Board
Hursty on the SML Board
And a few on the BZT board... that I would rather not mention....
All I can say the de ramp means nothing as there is no basis .......
Well researched confident investors do not take any notice of that rubbish
Fundamentals we play out here......certain of it....
Double post today D... :)
Go for a walk , get some of that fresh.....
Be at one with nature...... release your pain body.....
https://youtu.be/au29xFHV38o
When news lands this will take off.....
We might have to leave you behind.......
If Martin had covid it makes a lot of sense. Would like to hear from an official source though.
Get well Martin, sorry that I thought you were on holiday.
Good Holding, respect Pranchalee...
I like to go balls in .... Sometimes works out to wonderful.....
You roll the dice.... 120m shares ..... I hold just over 1m..... and will be for the foreseeable ...
Funny worth £80k now.... £120k a few months back.....
The investment case is so much better....
Fill your boots....
I am having a few more , just need a little liquidity elsewhere...... before filling my boots....
A man with a plan..... :))
ATB
destitute - there is absolutely NO evidence that ‘larger investors are selling’. If there is, show me. Prove it.
What I can show you is this:
https://www.kitco.com/news/2020-11-26/Polymetal-buys-22-5-stake-in-Chesterfield-Resources.html
A FTSE100 company taking a 22.9% stake in CHF. That’s unusual. You don’t often see a top tier miner take a stake in a tiny exploration company.
So CHF has big backing no question. I’ve no worries on that score.
Are you holding Destitute...Sounds not ? if Not a little sad you trolling a Share cos you got nothing better to do.
Starting to feel really sorry for you... Maybe good Samaritans , Your local church...Psychologist..
This is not normal behavior..
We all need a few Bumps Pranchalee , they keep us focused...
Feel for Martin...a bad dose of Covid 19 can knock you out for 6 weeks.....
No energy ....no motivation...just tissues and TV.....
So fully understand the .... lack of news feed....
Onward and upward.....Nice and Simple as Dibs ...stated....
Buy low sell high.... Simples......
Bounce inbound...
Burleigh - I would agree with you that the comms have left a lot to be desired here. I really don't understand why they were unable to tweet about expanding the DD programme. There is zero information in this RNS as to exactly why they have expanded the DD programme, which is quite unsatisfactory IMO in terms of it leaves us to guess. However, I note that the RNS does state that they "will be providing further updates on our operations [in Cyprus] shortly." Which means that although we won't get results until November, we will get an update of some kind re Cyprus before then and whenever "shortly" means.
I think if Adeline were the main focus funds would be moved there rather than extending the Cyprus campaign. Adeline has logistical issues, but it's a great long term investment.
Hi RL - many thanks for that. Interesting to know that's an option as well (of course it doesn't come cheap).
The RNS suggested they are keen to progress matters quickly so let's see what plan they come up with once they have the results of this field work back. Most of the content of the RNS was on Adeline (and it came before Cyprus), so does this also suggest that it is now CHF's main focus?
Great post Reboundless.....
One good core is all it takes to change the trajectory of a share price...Just one....
Legal - For an idea of how a drilling campaign would play out, Playfair flew a rig in via helicopter in 2011 and completed 4500m of drilling for around $1.5MM CAD. There are rigs created specifically for this type of remote environment: https://www.multipowerproducts.com/english/products/diamond-core/discovery-2/
The site was known as Seal Lake if you wanted to have a look at their results. They had some success, but the economics were very different in 2011. They also didn't seem to do a lot of pre-work, and spent all of the money they'd raised on drilling.
Burleigh - I was responding to a de-ramper, who seemed to be suggesting that the whole issue was a porkie. If they were going to make it up, they could have simply said "delay" rather than "logjam". It's a non-issue really and not significant.
BCB - noted re the expenditure incurred by Panther to create road access. It's a sizeable sum and there is also then the issue of how long building that length of road access will take. This is where I think we would benefit from more info from CHF about how they intend to overcome the issue and costs/timescale.
Trek - noted re your more accurate calcs of the cash position and I also agree with your comments about a raise. Provided it comes with a concrete plan of action (see above), then not the end of the world.
Legal,
“So, how does/will CHF, with only £1.5 million in the bank, get a diamond drilling programme off the ground at Adeline and overcome the road access issue? ”
They don’t have £1.5m in the bank
“The Group's net cash balance as at 30 June 2021 was £1,504,973”
They raised £750k effective from the 7th July 21 prospectus. That was for Canadian field work and general working capital.
They are burning +£1m pa on Admin, forex and other expenses.
Canada nets out as probably spent on helicopter rides and other expo expenses
The extended drilling will cost, that’s a good thing. Say £400k on through October.
The cash burn over 3 months to the end of this Sept will be around £300k
Cash in from options is minimal.
I reckon they will have around 800k at the end of this month. That’s not bad but obviously they are going to need to come back to the market again.
Results from Labrador and initial drill results In Cyprus, they sound confident, should bump the SP up.
Thing is though today imo the market has dropped us because of the cash position and the delays. I think more so cash. I took some off the table as I see better opportunities elsewhere and one can always average back in here after the results and after funding. The market seems to drop SP’s below the placing price lately.
Placing could be at 9p or 15p who knows but the short term uncertainty will be over and if you buy back in at under 9p or under 15p there will be more for your penny in terms of assets even if it costs more. I really don’t see a 5 or 6p placing though as it will be pumped before then.
I found the RNS a bit ‘rampy’, waxing on about macro etc like investors here don’t know that. I would rather they talked about CHF. I was hoping for a cryptic hint about a JV but no they coined they delays in the interims when that should have been an RNS ages ago. The lab delays would have been know and should have been revealed and also to say the ‘tanks are full’ it’s about as full as my merc atm! parked up on 1/4 tank!
Usual caveats
Trek
So the AR published in May 21 showed that as of Dec 2020 they had a cash position of £2.4M having raised almost £5M net via 2 raises in the previous month. Costs for 2021 were expected to be £2.5M per the Dec note. We know that as of June 2021 the cash balance had reduced to £1.5M but then they raised a further £800k in July 21 so they should still have over £1M of cash...but that is expected to be pretty much depleted by the end of this year which is not far away at the current burn rate.
Poly and Directors bought at 9p and the Labrador deal was all equity at around 12p with warrants at 20p.
20p seems like a long shot right now for those additional funds but hopefully with the long awaited Nov results...and there should also be more holes included per today's RNS plus some results from Canada possibly before the Cyprus ones arrive.....lets hope that they will get us back over 10p for starters.........they certainly need to as another raise is on the cards in the coming months ahead of any plans for road access at Adeline.
Good point Legal... Panther Metals Just raised £630k for a 30km Road way through similar terrain in Canada
They are going to be able to T off this road way in several places .. the raise includes the diamond drilling cost of the VMS
target.
It was also noted , the drilling in winter will allow access over frozen lakes....
All do able and all worth while if we have a discovery......
And my I add , its tenements like this that have not been fully explored and drilled that hold unknown riches....
It has put other explorers off before.....
We could very well have a mega jorc.... to make many Majors eyes water....
The team in Canada know what they need to do and Altius is with us with skin in the game...same a Poly Metal with a key guy on the Board....
2022 the year Chesterfield Resources comes of Age....
I can see a £1 a share when the ducks align
ATB