Chesterfield Resources Share Discussion Threads

[shortarm] 25/8/2023 06:20

Less than a million MCAP now, soon to succeed with achieving zero all round. What a disaster!

[ruthfuller665] 24/8/2023 14:08

I gather most prominent shareholders sold their shares a long time ago. They do, however, care about the reputation and integrity of the London markets, which are there to support building healthy businesses for shareholders. What is now going on at Chesterfield should never be allowed to happen.

No one believes a word this management says, which is why this main board stock is now valued at less than £1m.

[excellance] 24/8/2023 12:45

The final £230,000 and the second tranche of 4.5m shares are payable should Sterling decide to exercise its option to acquire the Adeline licences at any time prior to 30 November 2024.

Hard to see a reason why Sterling would pay the cash and issue the shares before November 30 next year, and we may need funds before then, but obviously we may get a deal on Westline that mitigates. Or we may not.

[excellance] 24/8/2023 11:35

Because someone sold some CHF, and someone, possibly the same person, bought SAG.

I'm sure Martin French and Peter Dimouni have done exactly that.

[ruthfuller665] 24/8/2023 10:57

I don’t understand. Why is SAG up 12%, yet Chesterfield is slumping to yet another all time low?

[excellance] 23/8/2023 17:22

Is that the last of your shares gone Ruth?

Dumped at rock bottom prices?

Nice tweet from Sterling today.

[excellance] 23/8/2023 16:34

SAG up 18%

[excellance] 23/8/2023 07:54

If you're dishonest the pension wont make any difference.

[ruthfuller665] 23/8/2023 06:30

IF? What if an aging dishonest non-executive director discovers his pension pot is running low and decides to wrest control of a company through deceit?

[excellance] 22/8/2023 16:38

Yes, Frenchy totally screwed up when he failed to get funding.

[ruthfuller665] 22/8/2023 13:10

It obviously makes far more sense for investors to simply buy Sterling shares, than hold them indirectly via Chesterfield. The whole restructuring exercise was a smokescreen so that shareholder’s wealth in the company could be transferred to the managers.

[excellance] 22/8/2023 12:59

Sterling up 12% so not all bad.

[ruthfuller665] 22/8/2023 09:04

A further collapse in the Chesterfield share price today, which has hit yet another all-time low at 0.75p. The shares are now down over 80% from when the current management claim to have “rescued”; the company a year ago, before closing operations, selling the assets and then cash disappearing from the bank account. The stock is now down 93% from where it had been typically trading under the old guard, prior to the events in Ukraine and down 97% from the stock’s high.

[excellance] 21/8/2023 20:07

I keep hearing about the alleged deficit in the copper market, so why is the price below $4 if that's true?

[excellance] 21/8/2023 20:04

The website is back, so it's not "game over" just yet!

[excellance] 20/8/2023 20:26

The website hasn't been paid for again. What does Ajay get paid £2500 per month for if he's not managing basic bills?

[ruthfuller665] 17/8/2023 17:18

Well what a surprise. We now learn that the final exit plan coming up will involve selling the company’s remaining assets, the block of Sterling Metals equity and Westline, to parties unknown. It is more than likely they will be sold to a private company with opaque ownership, thus completing the asset-stripping exercise. Nor would it be a surprise if most of the remaining £250,000 in cash in the company would also have disappeared by then, given the way that £650,000 vanished last year from an inacive company.

The company website has been down for around six months now. Chesterfield must be the only company on the LSE without an active webisite and so breaches DTR regulations for displaying the company accounts, and is certainly contrary to the principals of Aim rule 26.

[excellance] 16/8/2023 10:18

I think the most likely outcome will be a reverse takeover by someone who wants a london listing, and possibly the sale of both Sterling equity and/or Westline, but obviously there are many variables. I just hope they can get a deal to give us something to hold on for.

French failed, now it's up to Ajay and Ensor to avoid the same fate, and if they do then this could multi bag from this level, but it's high risk so don't bet your mortgage.

It is clear that the previous driver did a runner after crashing this car, he failed to secure approval and funding to drill Adeline and an alternative was put into action, and his Canadian backers followed him down the road.

Westline is small compared to Adeline, but could be a profitable mine or mines in the right hands.

The interim board will be replaced as a new team come along with new plans, and a name change too probably, but we'll have to see what results and market interest there is at Sterling.

[excellance] 16/8/2023 10:05

Other Opportunities



The Board aims to make the most of the Company's resources through what it aims to be a transformational investment into a new area of activity. Extensive work is underway to consider a number of possible options on offer. The most important criterion behind this work will be to generate significant shareholder value in the near term, and the goal is to be able to announce the direction of this next phase in Chesterfield's development by the end of 2023. Shareholders should note that, subject to the terms that may be agreed for these opportunities, additional capital raising or additional shares being issued are possible outcomes.

"Our focus now is primarily on finding opportunities that will be the right fit with our resources and capital structure that will generate shareholder value once agreed and transacted."

[excellance] 16/8/2023 09:39

That said, it's a high risk £1m mkt cap, and we should be "measured" accordingly in our approach.

[excellance] 16/8/2023 09:32

I think there is opportunity at Westline, gold rich yes but polymetallic, and it needs more exploration.

I think that the Adeline folly tore the board in half, and created a major funding rift. Adeline was easier to farm out, and doing so clears the way for Westline.

Our share price tanked as Canadian investors followed French and Damouni, some making big profits, and now we are a prime takeover target, with no staff, interim board, large potential at Westline, 8% of Sterling, and a fast track to a London listing.

[concentrate] 16/8/2023 09:17

You seem enthusiastic about Westline and the 3 licenses. Can they realistically ever become anything? Or is it just a story to sell while keeping the lights on?

It feels a little bit like CHF is just an expensive holding company for 8% of Sterling Shares.