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Mixed feelings from me about this. Cyprus is just not exciting enough for me, but Labrador was the flagship and they made it sound like a compelling project. It's a shame they have had to do this fire sale, because they couldn't afford the exploration themselves. The project is now in the hands of a very small Canadian company, who will no doubt have to explore it much slower than a major might have done. For anyone interested and wanting to invest into a major Labrador copper discovery, surely their focus will be on Pacton now, rather than CHF, which reverts back to being primarily a Cyprus gold and copper play, with cash issues. Thinking of taking it off my watchlist, as think there are much more exciting exploration frontiers out there than Cyprus. All imo and DYOR
I don’t post very often but like to say something when I think it’s wrong. Norwich01 seems to be putting negative comments on here and not backing them up. His first EVER post on ANY company was yesterday………on CHF. He’s posting dubious stuff again today.
Please be aware and always DYOR.
I cannot comment on that , Norwich 1 but what I can say is the Tenements will do the talking ..everything happens for a reason and this new management team have a handle on it...the best way forward with the limitations CHF have .. That's why the market cap is... currently circa £2.6m .
Big upside from here if you have a pair and prepared to dig in and sit tight.
ATB
5p lol keep pumping u no morals
If Paction is worth at present 1.4p as you say then I’m sure Cyprus assets are worth more than the remaining 0.6p lol!
Not a great first post Norwich01, looks like you’re out of touch pal.
Yep ,slimming down operations and concentrating on the good tenements in Cyprus .. this is great , and Canada..20 percent £840 K and a share of the upside moving forward is mega ..great deal you talk ****** N
They said they were slimming down the Cyprus operations. They could have listed the Canadian operations for something like 12p. This deal is rubbish. I would be surprised if got upto 4p, even when the markets recovered. I am not surprised the stock is trading down at 2p. Chesterfield's holding in Paction is worth about 1.4p per share.
rich gold mineralised system
Plans for further concentrated drilling and off loading of the none core tenements...
After all the largest mining tenement package held in Cyprus and one thing that has been on my radar of late...
Poly metal..London Listed ... 20% CHF share holder.. wanting to move none Russian business out of Russia...
What a ready made vessel CHF would be in Cyprus.... perfect.. as renowned for the Oligarch playground..
Well known...... might be something in that..
But the rivh gold mineralised system open and depth and in all but one direction ..experiencing larger and wider intersections of 6gt au.... could well entice some interest....
I think we share the rig with AAU and sure we may get some marry up interest with CMRS.... who have had a major tenement scuppered by the Cyprian military.
Lots of maybe upside....
That’s a good analysis in my opinion. We should see 5p in the coming days. De-risked to a degree.
Yes the company have gone from being short of cash and everyone fearing a placing... To being cashed up for the next 12+ months to fund Cyprus project. And the great thing is they also have a 20% stake in Pacton who fully own the Canadian asset nows. They will development them much quicker than CHF would have been able to
The shareprice really should be back up at 5p+ and i expect we'll see it build higher today and rest of week.
To have confidence no placing required show see buyers starting to get involved
£840k will move the Cyprus tenements forward... continue confirming the length the mineralised Gold system the
previous assays confirmed.
2.599p to buy any stock. Yet they still have offer at 2.2p with nothing available haha
Yep Cash + Equity is worth more than current Mcap... Then you factor in CHF still have exposure to Canadian assets via their 20% stake, plus they are now fully funded for the next 12+ months to develop their Cyprus Assets
£2.5m mcap fair? Nah. Its gotta be worth at least £5m+ Mcap which is 100% from here.
I just checked the market cap of Pacton is 11.44mCAD so 20% of that is £1.47million
Will be funny to see how the MMs manage when this opens. There wasl iterally no stock availabe into close yesterday. So goodness knows what happens today ha
Lets also not forget that the reason CHF was down at this ridiculously low price was because everyone expected an imminent placing as cash was becoming short
NOW, they are cashed up for over 12 months, they can use that money to develop Cyprus whilst maintaining a 20% stake in Pacton who own the Canadian assets and will develop them much quicker than CHF could
I don't see how this anything but huge given £2.5m mcap. Should do 100%+ easy today
No wonder why it was hard to buy shares, yesterday.
Its a perfect RNS. CHF still get decent exposure to Adeline project via their 20% stake in Pacton worth £8.4m and likely to increase with any success in Canada. Obvious there will be some restrictions on selling haha, will have to be done in an orderly way, they would crush the Pacton shareprice anyway. I doubt they have any interest in selling their stake as they want exposure to Canada and Pacton can develop it much quicker. Its fantastic news
They also have probably £1.3-£1.4m cash in bank to fund them for the next 12+ months and develop Cyprus
All for a pathetic £2.5m mcap
This has to be todays multibagger
I wouldn't say wow but it's good news IF goes to plan.
The 1m in cash will be staggered and based on my experience there is always issues receiving the money its late or we having funding issues. They've sold to another small company you should be aware.
Chesterfield's ability to sell its shares in Pacton will be restricted according to certain terms detailed in the agreement and all payments are subject to potential tax liability in Canada.
Pacton will pay Chesterfield a total of CAD1.25m (£804,000) in staged payments over a period of 12 months.
You would think this could multibag today, I agree.
Sale of their Canadian Adeline project for £1m cash plus £8.4m stake in Canadian explorer who will develop the project much quicker
Plus they still have the Cyprus project to now focus on with this cash injection
All of that for a pathetic £3m Mcap
This should be £10m+ Mcap
6-8p today???