ARE drilling commencement in the region is another nearology...

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aaremms

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03/12/18

07:54

Post #: 36724076
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Originally posted by gosouth: ↑

I am not a holder of CHK, but weighing up a speculative trade. Well done to anyone who bought in quickly on the first afternoon. CHK seems to have the same attributes as a spec oiler - at some stage in he near future it will test a large exploration target (or two) that will carry a lot of market interest.
The current market cap of CHK at $10M is not that onerous and leaves plenty of room for further speculative run-up. However it will be a feast or famine on the drill results, it will be a test of high odds risk.

I was impressed that CHK whipped out their announcement in the afternoon of the BHP discovery announcement and had it out before open the next day. Very savvy quick footed work by the management. Tick that box.

I see CHK have just over a million in the bank. This, whilst enough to carry a drill program, will leave nothing in the bank afterwards, so it locks in that a capital raising will occur before drilling. Mad if they didn’t. It’s just a question of when.

When will the next BHP announcement be? Some way off. Very deep holes, 1000m to 1500m deep. How many will they drill before an announcement? What happens if the next set of resuts are less exciting than the last? We may not see another BHP announcement until 2nd or 3rd quarter next year. Or maybe not at all? Seems there is a strong chance there may not be another BHP announcement before CHK start drilling.

I am hypothesising that we will see another CHK announcement highlighting in more detail the potential of their gravity targets, then a CR. Then drill in the first quarter next year.

thoughts anyone?

Gosouth

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ARE drilling commencement in the region is another nearology play for CHK. So that’s another near term driver.

CHK Price at posting: 1.9¢ Sentiment: Hold Disclosure: Held
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Last 0.4¢		Change -0.001(20.0%)		Mkt cap ! $17.18M

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ARE drilling commencement in the region is another nearology...

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