CHN - Chalice Mining

[finicky]

My pick for April's comp.
Chalice Gold Mines (CHN)

Probably no news to some that Chalice had a massive Ni, Pd drill hit* from its first hole into prospective magnetic 'signatures' at the Julimar prospect in W.A.

*19m @ 2.59% Nickel, 1.04% Copper, 8.37g/t Palladium and 1.11g/t Platinum from 48m

But this is I would say is a second tier project and most would have bought shares for the Pyramid Hill project (N.W Bendigo) where they are trying to sniff out a Bendigo goldfields scale discovery under 50 -100 mtrs of Murray River Basin sediments. Company says encouraging signs so far in a kilometres scale anomalous gold set of results from shallow aircore drilling. Three rigs are drilling and now they are also doing three deeper diamond holes. I get the feeling that results are due soon. All the historical mega mines and the current Fosterville were discovered outside the Murray Basin cover zone but there's no difference between that zone and the covered zone in terms of geological fault lines and rock types except a lot of concealing dirt on top.

I have taken the liberty of an impressionistic sketch with little resort to notes or announcements. From someone who is lazy and has no geological aptitude. The egghead stuff is there in the announcements. This is a high reading on the vibometer stock

CHN 2YRS WKLY

 

[Dona Ferentes]

My entry into the February stock picking comp.

Funny pick for a comp limited to Feb now that I think on it - impulsive

Sure was inimitable timing (not)

CHN in RED, Versus NCM, XGD and PMGOLD

 

[finicky]

Like going to strip club starring a juicy thick that's a perpetual tease. Had the whole of Easter ..

The Company advises that:

1. The voluntary suspension is sought to allow additional time to finalise an announcement regarding assay results from the current drilling program at the Julimar Nickel-Copper-PGE Project;

2. The Company expects the suspension to remain in place until the earlier of the commencement of trading on Wednesday, 15 April 2020, or the release of the announcement referred to above.

 

[Dona Ferentes]

Challice reinstated today; looking to pop as it announces

Significant nickel-palladium discovery confirmed at Julimar ​

New wide high-grade palladium-nickel-copper zone intersected ~60m east of the discovery hole, plus wide palladium intervals in all six drill holes assayed to date

 

[Dona Ferentes]

someone's going to win the tipping competition

UP 100%

 

[finicky]

What most struck me from the announcement was that they are looking for a higher grade source at more depth:

“While the broad palladium intervals point to a large-scale PGE discovery, our focus remains on defining
high-grade zones of mineralisation which, according to the geological analogues such as Jinchuan in
China and Kabanga in Tanzania, could be found at depth below the disseminated sulphide zones."

 

[Miner]

Interesting manipulation or just a chance ?
https://www.asx.com.au/asxpdf/20200511/pdf/44hr1syfzy0gsj.pdf
Such CR does not come overnight and price fall by 12 % on one day does not come overnight.

 

[finicky]

Missed that.
Yes, not a good look is it? The more so when Chalice is always reassuring tbe market that it has heaps of money to do what it needs to do.

 

[mikmac]

Sold out half my holdings on CHN yesterday, took some profit. While the trading yesterday was a bit strange, I just put it down to the market not as happy with the drill result. Maybe more to it.

 

[finicky]

Article out in the AFR this morning saying Bell Potter and Euroz are passing the hat around for $30m @ $1.05
Not so bad I feel, will bring the share count up to under 330m diluted for management options and performance shares. Can accelerate drilling programs

 

[Miner]

https://www.asx.com.au/asxpdf/20200514/pdf/44htn3qt2tws4s.pdf
This announcement is the most atrocious and opportunistic one. Tim selling his 10 million shares at $1.05. Joke. Surely the market will show its colour when trading starts.

 

[barney]

https://www.asx.com.au/asxpdf/20200514/pdf/44htn3qt2tws4s.pdf
This announcement is the most atrocious and opportunistic one. Tim selling his 10 million shares at $1.05. Joke. Surely the market will show its colour when trading starts.

Nothing sinister I think Miner. They had acceptances for $75 million worth of shares but wanted to keep it under the 15% rule ….. Tim just chipped in a few extra to satisfy some of the demand. Market seems to be happy overall … up 5% ….. Been a stellar rise for these fellas

 

[finicky]

Bullish looking candle developing so far today for CHN. Price up 14%. Dare I hope this correction is almost over?
Need to sell a few after eofy
Haven't heard anything about the Bendigo drilling for a long while, two diamond rigs drilling away. Bendigo's what I bought CHN for!

CHN 6 Mth Daily

 

[Chronos-Plutus]

Tim Goyder:

https://www.businessnews.com.au/Person/Tim-Goyder

 

[mikmac]

Interestingly DEV up considerably as well today (12%). Maybe imminent news/Leaky ship from the Juilmar prospect?

 

[finicky]

CHN @ 1.15
Have to say the CHN daily chart continues to look bullish making me hopeful that the few months of doldrums has been a true corrective move, i.e it will give way to a continuation of the preceding trend - ^ up.
Who knows though, I am only going by the daily chart. There were some drilling results today but they didn't look spectacular, I barely read it though, too complicated looking, sorry. The picture could be transformed by some decent drilling results from Pyramid Hill in Victoria though. Long awaited. It is after all what original investors bought into CHN for; nobody six months ago took any notice of Julimar W.A.

 

[Knobby22]

My pick, the company has had success and has consolidated at the present price. May move up from here particularly if gold keep s rising.

 

[finicky]

Chalice popped the snorkel up into fresh air today

YTD Daily

 

[finicky]

Wahwahwo, nice, this confirms I guess that the past 4 months has been just a consolidation of the earlier spectacular run. Maybe this chart now could be viewed as a volume breakout from a continuation triangle? Reluctantly sold enough today @ 1.50 to cover my cost - a bit more cash in kitty for the perceived general bust ahead.

CHN 1 Year Daily

 

[finicky]

This now looks like its heading for $2
Don't ask me why, I've heard there might be some Julimar assays pending, maybe its people punting on those. I've become complacent about their announcements - too abstruse for me - but have docile confidence in management.
Still holding most but will likely lighten a bit if $2 hit