Chesterfield Resources Share Discussion Threads

[excellance] 11/7/2023 20:13

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.

[excellance] 11/7/2023 20:03

Said Executive Chairman Martin French "The strong results from the hole 21WL03 is a game-changer for Westline. They indicate
that the body is getting thicker and higher grade to the South-East where it is open, and indicate that there is much more to be found at Westline. The 3.3 metre intersection grading 7.7g/t gold equivalent is particularly encouraging from a mining point of view. This includes a 1.5 metre section of 11g/t gold equivalent."

Game changer indeed.
How prophetic.

[excellance] 11/7/2023 00:16

The Adeline deal was utter recklessness. To work it required exceptional results and Cyprus and a favourable market.

Cyprus results were too little too late, and while they show promise we do need to go again to nail it.

The market sold the Cyprus story as it sold everything, and only now do we see a few green shoots.

CHF need a partner with capability at Cyprus. Our team were inexperienced. We have no kit, no cash. All we have is some promising licenses and 8% if another minnow.

[excellance] 11/7/2023 00:05

A secondary listing would have created a load of new shares, given CHF a cash boost, but the major holders didn't want their holdings diluted and their was no market for the IPO at the share price the committee had in mind.

French failed, was ousted, plan B came into effect...survival!

[excellance] 11/7/2023 00:01

The Company has been pursuing secondary listings on the Toronto Stock Exchange Venture, Frankfurt, and the OTC markets. In anticipation of its strategy towards its Canadian assets, the Board has determined that the time and resources required for a secondary listing are currently not prudent.

[ruthfuller665] 10/7/2023 23:59

Another totally false starement. The company had around £600,000 at the time, enough to last two years

[excellance] 10/7/2023 14:05

I think you'll find that access to funding was the reason. Remember we don't have any income, we have to raise capital then spend it. If we can't raise capital then we've nothing to spend.

PE saved this company from going out of business.

[janicesolihul] 10/7/2023 14:00

Paul wants to "work with partners" in Cyprus becasue he has no idea how to manage it himself.

[excellance] 09/7/2023 08:34

Obviously the plan for CHF is to focus on Cyprus again.

Paul has completely stripped out the non core assets and has stated that he'd "prefer to work with partners" on the Westline project, presumably as opposed to divesting. Exactly what that means, and when, remains to be seen.

Currently we still have an interim CEO, no current exploration activity, no debt, no staff, no premises, are at preliminary stage of talks about Cyprus, and potentially an 8% interest in SAG V who are exploring two very large copper prospects, and for this year that is the activity that could massively change the outlook and share price here.
Going forward, we will need more cash to strengthen our hand and give us options, but until then all eyes on Sterling.

[excellance] 09/7/2023 07:59

Martin French apparently now works for Paul Ensor at his family business.

[ruthfuller665] 09/7/2023 06:59

Post 6109 could ONLY have come from Paul Ensor, no other source. He has effectively outed himself as Excellence and all the implications that holds for the long list of false and misleading statements he has been putting into the public domain under this alias.

Post 6110 is yet more misleading and bizarre commentry from Ensor/Excellence who conveniently forgot to mention he was also on that trip to the North America pitching for funds.

[excellance] 08/7/2023 23:42

When these were drilling Cyprus, no discoveries, before Adeline was even signed, out share price was 18p.

Then French went on a jolly to New York and Canada, and came back with NOTHING.

Frenchy's failure cost us 90% of our losses.

[excellance] 06/7/2023 13:14

Nice new profile.

[peter437] 06/7/2023 11:28

This company looks like it is run by a complete nutter

[excellance] 05/7/2023 23:24

How much did car crash pay himself for FAILING to deliver his promised IPO?

The current team can't be blamed for the failure of others, they came in to dress the wounds, put the company on life support until liquidity returns to smallcaps, stabilize the finances, and plan our next venture.

They've done that, are doing that, are doing a decent job with no cash.

Look at how much cash Frenchy burnt thru, and the wages he gave himself for his part time jolly.

[ruthfuller665] 05/7/2023 22:56

So when all the payments are in that will add 0.25p to the valuation of the share price, meaning the stock is worth a grand total of 1.25p, plus a discount for poor managment and outlook, which means the stock will be priced at a fair value of 1p. So the strategy of the two new executives over the last year has taken the value of the company from 10p to 1p.

The new team has taken us from a growth company, valued on future prospects, to a static company based on assets, which have been all but shut down, and zero communication to shareholders. Their trashing of Chesterfield is obviously deliberate. The question is, what are they planning to do with all that cash?

[excellance] 05/7/2023 19:30

Sterling will pay a total of £490,000 in three separate payments:
- £62,250 with immediate effect, and
- £183,750 following receipt of permission from the TSX-V authorities to complete the deal, and
- £230,000 final payment to be paid on or before 30 November 2024.

Just to clarify, so far we've received £62,500 plus £236,686 and 4% SAG.V shares so far.

[excellance] 05/7/2023 17:45

With Venus dead in the water and Caerus selling out to Ploutonic and Indo, old Harry left the board of CMRS at around the same time that Frenchy and Dim money went in search of a flow thru bonanza in Canada.

All linked or coincidence?

Which Cyprus based company discovered over 20m of massive sulphides packed with minerals?

Frenchy told me he'd "stick" and not "twist" with our results, he was delighted with them!

[excellance] 04/7/2023 21:23

I doubt anything will happen in Cyprus this year, we can't do anything more until we get funding or a deal, and talks are only preliminary.

How we get funding depends on how Sterling do with their drilling. If they hit big then that increases the value of our holding, but the sale of Adeline is optional and if drilling goes well at Sail Pond and not so well at Adeline maybe they won't complete?

If drilling at both Canada assets goes badly then we can be thankful it wasn't us!

If all goes well then we may end up with 8% of a very valuable holding which we can leverage to finance Westline if we still want to, or we can let it go.

Extremely high risk, but high reward too.

How much could Sterling be worth if they get lucky, and how much will our holding be worth?

If Sterling achieve a mkt cap of just £100m our holding will be worth £8m, eight times our current share price and giving nothing for Westline and cash reserves.

CHF is grossly under valued by those metrics, but obviously Sterling may not hit anything.

[excellance] 04/7/2023 16:53

Nice edit, removing the bit about removing the technical team in Cyprus, but you should know that we never had that, we had a hired third party drilling team, a couple of graduate geologists and a senior geologists advisor for a period of four months.

We never had any full time team, never owned any equipment, and the cash we raised was disposable to be invested on a one shot exploration program.

The only things in our pf worth having is our Westline assets, our 8% in Sterling, and the £40 in the top drawer tuck shop.

[excellance] 04/7/2023 16:42

Someone has to be caretaker until the new team take over.

[janicesolihul] 04/7/2023 14:13

You can add Chesterfiled to the list of deceased operations in Cyprus, even though we made a discovery Ensore and Kejriwal have inexplicably shut it down. They could easily get it going again on a small scale, to ensure continuity of operations and get some interest back in the stock, but they have chosen not to. You have to ask yourself what they are up to?