Chesterfield Resources Share Discussion Threads

[excellance] 20/9/2023 16:22

Merger with non listed entity is nailed on here.

The price depends on how sterling do with their drilling as our holding in their stock could be our main asset within weeks.

We could be another Franco Nevada type holding company in the making...

[excellance] 20/9/2023 13:59

"..additional capital raising OR additional shares being issued are possible outcomes.."

OR?

[excellance] 20/9/2023 13:11

I suspect this will be suspended pending an announcement within a couple of months.

It has been clear as day that the executive chairman has been "cutting costs" but what that really means is removing human capital and the boards abilities to run a viable business.

Ensor mentions his preference to "work with partners", and has kept the 3 Westline licenses while letting the others lapse, so presumably he thinks that the project is saleable and has value following the discovery of last year.

The Adeline project disposal removes risk and can't hurt us, yet we still retain access to upside if Sterling prove up previous drilling, tho one hole isn't a discovery, they'll have to raise capital and try again with multiple holes later.

[excellance] 19/9/2023 13:36

On the plus side, £300k in the bank, very low cost base, no debt, and two decent projects.

Lean board and interim CEO, no big wages, the company is ready to be put into someone else's hands.

I wonder what projects and funding the new CEO will bring?

In the meantime, all eyes on Adeline...

[excellance] 19/9/2023 13:32

During the first half of 2023, the Board has continued to carry out extensive work to examine a number of possible options for the Company to make an investment into new opportunities. The goal is to find a new area of business activity that will generate significant shareholder value in the near term and to announce a new direction 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 of such a change.

An important part of the current overall strategy is cost savings, and the results of our efforts in this area should be clear from the accounts for the period. In addition to the cuts in exploration and related staffing and other overheads, management have been able to significantly reduce outgoings both to service providers and the Board, whose fees have been significantly cut back to GBP2,500 monthly during the period. With no debts and very low cash outlays, the Company is in a stable financial condition for the foreseeable future, and notwithstanding any further acquisitions or investments should preclude the need for a dilutive capital raise.

[excellance] 18/9/2023 12:40

Well under valued based on Fridays report.

[highley1] 16/9/2023 17:40

I doubt it, management seem to have been on one long holiday this year, no reason to suppose it's over yet.

[excellance] 14/9/2023 21:08

I wonder if anyone is back from their holiday yet?

[excellance] 01/9/2023 07:29

I wonder how Sterling will settle the bill and close the deal to buy Adeline?

Will they pay us the money, or issue shares?

[excellance] 01/9/2023 00:31

Nice interview by SAG CEO

[excellance] 31/8/2023 16:51

"So how come Sterling Metals has just started drilling Adeline with a meagre budget of just £1.2m, the exact same budget that Chesterfield had?"

Because your bf wasted that money on a fools errand trying to list on the TSX.

[ruthfuller665] 30/8/2023 13:23

So how come Sterling Metals has just started drilling Adeline with a meagre budget of just £1.2m, the exact same budget that Chesterfield had? There is no massive funding requirement or timescale. Adeline had no expenditure obligations and so Chesterfieeld could easily have held it for another two years without spending a dollar. Chesterfield would be Canadian listed, funded and drilling by now. The stock would most likely be back at 10p, with the very real prospect of doubling from that over the next months.

We now have a daily stream of nonsense from Paul Ensor trying to cover his tracks. The reality is that he pushed out the entire operational and corporate team so he could sell off all the assets to fund his pension pot. He has no experience running a company, raising funds, building an operation or of corporate goverence. He shouldn’t be anywhere near a Plc.

Ajay immediatly swiped a bonus out of the company and between the two of them they have turned Chesterfield from a promising growth company into a zombie stock. Yet over the last year over £600,000 in cash has gone. The final move is coming soon, as Excellence/Ensor has recently articulated. That will be to strip away from shareholders their last asset, the block of Sterling shares (or any cash arising from Sterling), which will be worth several hundred thousand pounds to the lucky recipients.

[excellance] 30/8/2023 13:02

Reading thru my many notes of conversations with various board members, both current and past, and I recall that Frenchy was VERY excited about the Westline drill results, and his excitement came from what the geologists were saying. Those results came at around the time of the invasion of Ukraine, and after long covid delays.

We also signed for the Adeline project at that time, and Frenchy was very excited about the scale of that, and desperately hoped to raise significant capital for it, but the markets had turned and finance became scarce.

He failed to get the required funding, and the board were divided, and I'm not surprised.

Westline has been significantly derisked, and in many ways is more viable than the much larger but isolated Adeline, and it is GOLD rich polymetallic.

Adeline is on another level of risk for several reasons, not least the massive size of the funding requirement and timescale involved, and it is copper.

It is absolutely right to uncouple the two projects in my opinion.

[excellance] 27/8/2023 09:48

One of the reasons given for the Adeline disposal was our lack of "human capital", but more recently regarding Westline Paul stated that the company would "prefer to work with partners".

How can we "work with"?
What resources do we have?

I presume from this that one option possibly on offer is a total cash sale, but Paul prefers the option off method as demonstrated at Adeline.

Only a few more months to wait.

[excellance] 26/8/2023 10:14

It's always the same when a share price falls. When it rises the herd arrives.

[shortarm] 26/8/2023 09:45

8 posts in a row without a reply or thumb in any direction!Seems only you are interested in the continuing disaster that is CHF.

[excellance] 26/8/2023 00:08

GSCU and SAG are the best prospect for a multi bag gain within a year, and IF SAG hit then by default CHF benefit too.

[excellance] 25/8/2023 20:26

When or if Sterling hit a big copper deposit, they will reverse into us and take our London listing.

[excellance] 25/8/2023 18:34

SAG flying!

[excellance] 25/8/2023 09:16

When Sterling hit $100 billion copper deposit, what will our 8% be worth?

[excellance] 25/8/2023 08:20

With Adeline safely optioned off for 8% of sterling, and Westline optioned off...

We can find new licenses in new areas.

[excellance] 25/8/2023 07:52

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.

What "resources"?

Our resources are our people, our assets, and our market listing.

What "new area of activity"?

Moon landings?
Venus?

[excellance] 25/8/2023 07:45

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.

[excellance] 25/8/2023 07:07

Any business is dependent on its people, their available resources, and the business environment.

French failed, Dimouni was useless, pleased they are both gone, but now we are left with a transitional or interim board, to reorganise for the next crew.

Our main asset is the London listing, but it increasingly looks like we don't need that, because it's main function is access to the capital markets. If we don't intend to raise capital because we don't have any viable projects or competent leaders, then why retain a London listing?