Chariot (CHD.to): Trying to tell us something, Lukas?

B-b-b-b-but, wasn't this the same guy that said Chariot was cheap at these prices? If it's cheap why sell it? I just don't understand........ :-)

Chariot Resources Limited (CHD)						As of September 8th, 2009
Filing Date	Transaction Date	Insider Name	Ownership Type	Securities	Nature of transaction	# or value acquired or disposed of	Unit Price
Sep 08/09	Sep 04/09	Lundin, Lukas Henrik	Direct Ownership	Common Shares	10 - Disposition in the public market	-500,000	$0.370

Only another 50m or so to dump, Lukas.........

Chariot Resources (CHD.to): Lukas's bathtime

Splat!

The Lundin dissident slate was today rejected and the current board keeps its jobs. Here's Reuters:

TORONTO, Sept 4 (Reuters) - Shareholders of Chariot Resources Ltd (CHD.TO) on Friday, reelected the incumbent board of directors, rejecting a slate nominated by Lundin Mining (LUN.TO) Chairman Lukas Lundin.

The shareholders also shot down a motion proposed by the dissident slate to adjourn the shareholder meeting.

Chariot had accused the Lundin nominees of attempting to seize control of Chariot without paying a control premium.

Speculation that Lundin Mining could try to acquire Chariot or its Mina Justa copper project in Peru has intensified since the proxy fight -- led by Lukas Lundin and Lundin Mining Director Brian Edgar -- was revealed last month.

Lundin Mining owns more than 18 percent of Chariot Resources.

Lundin Mining has stated that it does not plan to acquire Chariot Resources, or its key project in Peru. The company said it was not directly involved in the proxy fight led by its chairman to remove Chariot's board.

However, Lundin Chief Executive Phil Wright had said the company would support the alternative slate of directors.

At the beginning of the shareholder meeting, the dissident slate moved to adjourn the meeting, alleging that yada yada continues here

Chariot Resources (CHD.to): A new NOBS report for sale

This is a pitch to try and sell you a copy of a new NOBS report that features Chariot Resources (CHD.to). However, to try and confuse you, we begin by mentioning a different company to the real main event.

I've been watching the progress made by Antares Minerals (ANM.v) recently. Today it's trading at $1.68, and with around 54m shares out that means it has a market cap of C$90m. That's pretty good. For sure it has cash at bank ($21m at Oct31 '08) and for sure the recent resource report makes for very prospective reading. It's in Peru, drilling great copper returns, it's got smart management, it's deserving of its success so far. All in all the company is doing well and I wish them good luck and godspeed.

But ANM.v also made reflect just how some stocks become fashionable and how others are somewhat forgotten, even ones in the same sector and in the same country that are much further along in the development track and offer real value. And so I'm writing up a NOBS reprot on Peruvian junior copper play Chariot Resources (CHD.to) that will be delivered to anyone who stumps up the royal booty of ten US dollars between now and the Sunday evening delivery date. It's the same system as in previous offers, folks. All you need to do is use your PayPal account to send U$10 to...

otto.rock1 (at) gmail.com

....(replacing the (at) with an @) and your copy gets sent in plenty of time before the bell on Monday morning. If you prefer, you can use this U$10 pre-set button below (that takes all the usual credit cards, too). And to make it as straight a deal as possible, once again I declare that I do not own CHD.to and will not buy into it until anyone who orders a copy of the report has their own opportunity to decide on the investment (i.e. I won't go near the thing until next Wednesday mimino).

Your humble correspondent believes that CHD.to offers good value right now if (and I repeat "if") you think that copper is looking strong and will stay that way. The point here is the relative value of a market laggard compared to peer stocks grabbing the limelight. If ANM.v isn't a flash in the pan and the whole sector is about to enjoy a decent rebound, then companies such as CHD.to are the place to look, methinks.

So order your copy of this NOBS report on CHD.to today and be wise about the company for next week. To wrap up, here's a comparative chart of CHD and ANM to point the way.

Chariot Resources (CHD.to): A bit of unfounded gossip

Get a haircut, scruffy

After the bell yesterday we had this press release from Chariot Resources (CHD.to) (owners of the advanced exploration-stage Marcona copper project on the coast of Peru next to the big Shougang ironworks) that stated the company was adopting a shareholder rights plan. Pretty standard stuff for two reasons:

1) The plan is designed to protect sharehodler in the event of a takeover bid by some third party.

2) It's an easy way to get a company a bit of publicity and start people thinking about possible takeovers.

The "we have adopted a rights plan" PR is trotted out by junior mining companies all over the place so this one from CHD.to, being of the totally standard cookiecutter variety, would normally have passed through my eyes and out the back of my head without registering much. After all, I don't hold the stock (though I know a guy who does and that's the disclosure, so DYODD dude).

But it reminded me about a rumour I heard a few weeks ago about the normally gold-only California scientology promo tagteam (and that's putting it as nicely as I possibly can) of Ken Gerbino and Michael Baybak. The ottobird heard some word from a normally solid and reliable source that Baybak was suddenly very interested in the Marcona district of Peru. This was kind of strange because, as noted above, these dudes have only really ever operated in the world of gold miners (as Mark Twain would have note, gold mines suit them perfectly). Because it wasn't "their metal" I kind of forgot about it after a time, though it was interesting for sure.

So maybe Baybak has his sights set on Shougang's overly cheap neighbour CHD.to, the one with a whole heap of copper? Maybe, and maybe CHD.to has got wind of whispers of the type that passed this desk back in January (I think it was). Be clear, this post is based strictly on unconfirmable rumour and should be taken as such...just passing on a bit of gossip.

DYODD, dudettes and dudes, but FWIW I do think Chariot is a smartly-run company with a very nice and undervalued copper asset. If Cu goes above $2/lb it will suddenly become an object of conversation in polite circles again. That's solid opinion, not scuttlebutt. I'll leave you with the CHD.to 12 month price chart; just another story of junior copper ouchness.