Chesterfield Resources Share Discussion Threads

[excellance] 30/6/2023 11:50

We have now removed the burdon of Adeline and car crash, yet we retain exposure to any positive drilling news over there.

We can now focus our very limited resources on Westline.

[excellance] 30/6/2023 11:48

That transformation happened when we signed for Adeline with inadequate funding, resources and human capital to drive the project on. A fund raising became nailed on and Cyprus results became irrelevant.

[janicesolihul] 30/6/2023 11:01

All Paul Ensor has done is transform this company into a basket case

[excellance] 29/6/2023 16:27

No it's not.

Having a Chairman with Executive powers is unusual but is allowed until a new CEO is recruited.

I think you'll find that we'll see transformational changes to the board when the transformational investment is made.

[ruthfuller665] 29/6/2023 15:21

This is what happens when someone totally inapproriate manages to take control of a public company which has no Nomad and an impotent board.

[excellance] 29/6/2023 11:47

Why did Venus pull their IPO?

Why is AAU down the toilet?

Why why why?

[excellance] 29/6/2023 11:45

Then why are you here spewing negativity?

No-one is fooled...?

[ruthfuller665] 29/6/2023 09:14

This is just nonsense

[excellance] 28/6/2023 19:49

As for CHF shareholders losing 90%, are there any left?

Frenchy hoped to dual list but discovered that funding and IPOs were being pulled, and he failed and "left".

The new board hoped to salvage a JV deal but only managed to offload our financial burdon for a cash payment plus 8% of Sterling that has two massive projects.

And that leaves Cyprus, where all licenses bar Westline have been given up, and now we are looking to JV that, and at the same time leverage our company resources to
what it aims to be a transformational investment into a new area of activity, whatever that means.

I think CHF has been asset stripped following excellent results at Westline, because the steering committee of major shareholders didn't want Adeline in the new deal, so they "sold" it to Sterling where they could plough their money in.

SAG looks like a very good value punt at the current SP, but so does CHF.

[excellance] 28/6/2023 09:17

Maybe they have a plan?

[ruthfuller665] 28/6/2023 06:44

Polymetal and Atlius are both down 90% on their investment, I can’t image they are very happy with the chaos at Chesterfield.

Kiplig, I don’t know what to say about these guys. They stabbed Martin in the back completely out of the blue to take control of the company in a kind of coup, quickly closed down or sold off what was a promising businesses. They will now look for ways to strip out the cash.

They can get away with it because CHF is a Standard List company and there is no Nomad. They haven’t invested any money in the company, have zero interest in the shareholders or regulations. They just want the cash. They dont even bother with a semblence a strategy or even maintaining the website.

[excellance] 27/6/2023 21:29

Polymetal and Altius don't agree with you.

[janicesolihul] 27/6/2023 20:33

This whole thing has been terrible

[excellance] 26/6/2023 21:52

My understanding is that the tight credit environment in the resource markets is about to thaw in Q3 as interest rate hikes finally begin to squeeze the economy. The labour market appears to be struggling taking pressure off wage rise demands.
Still a recession to navigate but Rome wasn't built in a day.

[excellance] 26/6/2023 08:21

It tells us to watch for good news from Canada drilling, at no financial cost to us.

It tells us we ARE IN preliminary talks about a JV in Cyprus,

And it tells us that we may be subject to corporate action, RTO or issue of shares related to an acquisition into another project.

[excellance] 21/6/2023 15:56

They can't as they are "in the know".

Ruth "Martin" fuller is just sour because he failed.

[kiplig] 19/6/2023 15:03

Ruthfuller - have the management team actually done anything since pushing out Martin French? Martin had invested significant capital into the company, so was completely aligned to shareholder interests. The other directors have invested very little of their own money and just draw large salaries. It is very troubling.

[ruthfuller665] 17/6/2023 13:10

Three more falsehoods to add to the growing list from Excellence/Ensor

Chesterfield had drill permits, Chesterfield’s drill contractor had insurance and there is no underwriting

[excellance] 16/6/2023 20:15

Exactly, Pacton didn't have the confidence of the Canadian authorities because of the sensitivity of the project in a pristine environment and very limited access to cash.

CHF were in the same boat.

Now it's up to Sterling to get permission to drill. At least Sterling have certification for insurance and underwriting.

[ruthfuller665] 16/6/2023 20:03

Because Pacton never raised money or got regulatory approval for the transaction. There were a lot of acqusations flying around of irregularities going on behind this deal.

[excellance] 16/6/2023 14:14

So if Adeline is such a great asset, why did Pacton pull out?

[ruthfuller665] 16/6/2023 12:28

No because Martin was pushed out before he could, because he refused to sell Adeline to Peter Damouni’s business partner at a knock down price, which he knew would completely destroy shareholder value at CHF, which is what has now happened.