Junior Mining Company Joins The Standard List
Chesterfield recently underwent re-admission after reversing HKP exploration Ltd into it coupled with its Cypriot mining portfolio. The company raised £2m at 7.5p with warrants set at 15p which could offer additional funding to the company, Chesterfield has circa £2.6m in cash (at last count as I ran the rule over the company) whilst I appreciate this short post may appear to be vague, I fully intend to update this snippet with a fuller article which would contain extensive changes showing much more detail and footage.
You can sense the relaxed freedom of the mountainous environment which is scattered with further evidence of copper mineralisation amongst other geological surprises, recent news now suggests that the property procured in the mountains at Troodos West will soon become a hive of activity as the Drill is scheduled for later this month, thus look forward to talking more about this micro-cap opportunity.
*Updated 17th September 2018
You can see the local landscape in and around the Troodos West Assets, from my experience (Yet limited geological knowledge) of the region it always helps to have a capable guide. The day started with Coffee and a run through of the recent presentation which is enclosed with the re-admission document on the company website, the footage below shows fault and some of the cover in and around known or proven deposits.
The Uncle Charles pit, some exploration was conducted in the 1960’s which resulted in the removal of 250,000tons of just over 2% copper (Cu). The evidence is easy to visually identify.
The access around the deposit locally is simple yet well put down, The reporting of these assets is based on the technical interpretation of historical reports, however, additional drilling should help Chesterfield prove a fuller geological picture for potential future modeling.
The Limni mine delivered 8.1m/t of approx 1.1% copper (Cu) the footage shows the gravity and size of the asset within close proximity of Chesterfield’s portfolio, whilst closology is one simple argument the scientific aspect of exploration is to build a strong geological bank of data which can be cross-referenced against physical analysis.
Mining took place by the Romans more than 2000yrs ago before British miners continued to operate commercial mining up until the 1974 occupation (conflict) with Turkey.
Dr. Green talks us through some of the historical information known about Evloimeni, one of the most interesting points was the amount of visible surface rock which clearly showed either small-scale or artisanal work had taken place at the site.
The final installment of the site visit helps investors understand the ” Boots on the ground ” review of the companies prospects, the footage provides no guarantees, this is exploration mining ultimately however it allows the little guy the same insight or review of that experienced by corporate advisors, analysts, institutions or high Net worth investors.
After visiting the site and spending some time with the technical team the proposition was compelling enough to become a shareholder, I bought in the open market as some of the initial shell money, tranships over to investors. Whilst I share some thoughts on the site visit and thank the team for showing an incredible amount of transparency and welcome, I must caveat that we are not guaranteed to make a substantial return. It is, however, in my opinion, one of the few stories out there that offer this type of contribution to the junior markets and having followed and covered a number of such businesses which have gone on to do very well, I see Chesterfield have many synergies. Accumulating shares is not easy nor is it particularly liquid. aggressive fluctuations in the share price will be a direct result of a small (tight) free float.
Credit: Dr. Michael Green & Martin French of Chesterfield Resources Plc
Special Thanks to TMS for allowing me to share the below trailer…