Chesterfield Resources Share Discussion Threads

[highley1] 13/11/2024 10:18

Quite a steep fall today on no news.

Quite why anyone would continue to hold shares in this POS is beyond belief.

Selling would at least create a loss to offset capital gains with.


Producing miners are selling off with gold, creating an opportunity for the turnaround once the Bitcoin exuberance wears off.

[excellance] 27/9/2024 19:50

The market cap is currently about £200k, with £150k cash in the bank, 5% interest in SAG and some licenses in Cyprus.

The Cyprus assets are a liability if the company don't intend to explore them, but maybe someone wants to take them from us with drill data.

The Sterling assets, copper road and Adeline, are both huge and exciting projects but will be expensive to explore and will take a decade.

Is there any hope?

Yeah sure, in six months SAG will drill, and if they hit then bingo.

In Cyprus, maybe there are moves with others to create a Cyprus based exploration company by merging with others as hinted at in the recent annual report.

Meanwhile, Kashif has mentioned potential other opportunities, and I expect he's acquired a big chunk of the CHF equity because he actually has a plan.

Anyway, £200k mkt cap without a plan seems about right, but is there any reason for anyone to buy?

Well, CHF may have the same name as 3 years ago but that ship and it's merry men has sailed.

Anyone buying now will be doing so because they believe that SAG will hit pay dirt or because they believe that Kashif has an actual plan.

[excellance] 26/9/2024 16:25

Hence they are stripping assets to the bone.

Can they really sell the Cyprus licenses when they can be picked up for free after CHF relinquish back to the Cypriot authorities?

Maybe Matty Wilson will pull a rabbit out of his backside over at Sterling and actually make meaningful progress and save the day...?

[shortarm] 26/9/2024 16:15

47 grand in the bank plus post period sale of some jewels for 111k.Going to have to be some rabbit out of that hat!

[excellance] 26/9/2024 15:04

Let's compare Martin French's salary and successes against that of Paul Ensor.

Frenchy left Ensor literally no cards to play, no cash in the bank, and no capacity within the company to deliver anything, but he made sure his payslip was delivered.

Frenchy raped this company and it's shareholders.

Ensor effectively saved the company from bankruptcy.

Now Kashif has taken control he will wipe away the history of failure and fraud and forge a new path forward.

[excellance] 26/9/2024 14:59

may include a review of the licence portfolio that means that existing licences are relinquished and other options are considered. Several operators are present in Cyprus and it has long made sense to consider some form of collaboration and efficient ways of exploration

[ruthfuller665] 26/9/2024 14:55

What actually happened is that Paul Ensor pushed Martin French out and so he could take his job and a salary, while doing absolutely no work. He then told a pack of lies to cover his tracks. The company had a healthy cash balance, but that somehow all disappeared, despite the company being totally non-operational. Two years later, the share price is down 90%.

[excellance] 26/9/2024 11:29

I fully expect Asif to issue millions of shares to backers to RTO into stronger hands...

[excellance] 26/9/2024 11:20

The decision was made after the diamond drilling program to move away from expensive and risky exploration and turn the company into a holding company.

To do that they had to sign up assets, Adeline, but needed to keep the company going in Cyprus, so they drilled down the throat of an already known about deposit saying they took Russian advice, but those results were anomalous, Frenchy had to leave, and left, but there is gold there, somewhere.

Now the company is a shell. Even O brien left, so no geologists on the board, just Asif.

The plan is to farm out West line to Arianna or Venus and look for further assets to farm out.

Of course Venus could take our London listing...

[excellance] 26/9/2024 09:14

I recall telling MF that nobody believed the assay results, and he wasn't very happy, left soon after.

[ruthfuller665] 24/9/2024 13:02

I see the stock has now fallen by 90% since the new management “rescued”; the company and then over half a million pounds of shareholders funds disappeared from the bank account.

[excellance] 11/7/2024 21:06

Sterling Metals up 12% tonight.

[excellance] 11/7/2024 14:45

CEO Mathew Wilson: "By the end of July, early August, we are going to get a really good story. A story like this, the context, the size of the target, the excellent high-grade copper drill results we have, the big size, we are going to have a story that is very different from today, and that will be rewarded by the market. August will be exciting and fun. :-)"

[excellance] 08/7/2024 15:07

One ex CEO told me that the plan after divesting Adeline was to create a Franco Nevada style of company.
If Sterling are onto a winner then our share price rockets as theirs does given the value of our holding there relative to our own mkt cap.

[excellance] 08/7/2024 14:55

SAG TSX flying today.

[excellance] 07/7/2024 16:32

Sterling Metals CEO talks about copper, capital markets, and the copper road project.

[excellance] 27/6/2024 21:50

In the recent disposal rns it stated that CHF will receive more SAG shares and less cash than originally agreed, and several months earlier than agreed, the question is why, and at whose insistence?

Personally I am amazed that the disposal went thru at all, but delighted that it did.

SAG have some sterling assets, and we own over 5%, while we also have a little cash, extremely low costs, and another asset to dispose of or work on.

[excellance] 22/6/2024 13:43

I see a very similar scenario here.

[excellance] 22/6/2024 13:41

Take a look at MNRG to see how a little bit of good news can cause an share price to ten bag.

Over there they sold an asset for nothing but removed a liability, changed address and secretary. Received news of the Kyrgyzstan government removing a ban on uranium mining...and suggestion of a possible RTO...and bingo ten bagger!

[excellance] 18/6/2024 13:27

Frenchy told me that he was happy with the Westline drilling results and in his head he wouldn't swap them for another drilling program...

Why he then went off track signing Adeline and then spending all of his time trying to get another IPO going in Canada is a mystery and a mistake, but that is all behind us now.

We still have Westline, but there is also talk of new opportunities tapping in to the UAE network, but we'll have to wait and see how that pans out.

Today we see good news, but it is only one step. I doubt this will multi bag until we get some kind of plan to sell.

[excellance] 18/6/2024 12:53

We have gone thru a difficult transition, with the former management team being forced out or just leaving thanks to their poor decision making and bad economic conditions, and the disposal confirmed today is the final piece to be removed before the new team can come in with funding and take us to new horizons.
We have the Westline trend with three licenses in Cyprus, but who knows what new projects the new team will bring.
For me we need to drill half a dozen holes at Westline at the very least.

[bri15] 18/6/2024 12:45

This is going to multi bag!