Chesterfield Resources Share Discussion Threads

[ruthfuller665] 01/8/2023 07:46

Another in the long list of falsehoods. Martin actually invested £250,000 in Chesterfield and was on a modest salary.

[excellance] 31/7/2023 21:00

Getting interesting in Canada, tent city under construction.

[excellance] 31/7/2023 19:15

As opposed to Frenchy's cash stripping...?

How much did he take out of CHF in the years he was here?

Over a MILLION GBPs!

[ruthfuller665] 30/7/2023 11:05

Yes, just llike the attempted Pacton Gold deal where the company tried to sell its assets to a former director which looked like an asset stripping exercise.

[excellance] 30/7/2023 00:53

All listed companies are for sale, people buy and sell shares in those companies every day, but any sale of the entire share capital has to be by majority decision.

The board will recommend the right deal...

[ruthfuller665] 29/7/2023 14:51

Thank you for suddenly declaring you are planning to sell Chesterfield, which is totally new news for all the shareholders. Perhaps it would be an idea to put these announcements via RNS, rather than using an alias on a bulletin board?

[ruthfuller665] 29/7/2023 14:45

Which, of course, is not remotely true, as can be proven.

[excellance] 28/7/2023 16:17

Put it this way, if car crash was still at the helm CHF would be out of business.

His wages cost more than an entire years drilling, and minnows like CHF can't afford failure of that magnitude.

Let's be absolutely clear, Frenchy failed at every level and cost us a fortune in several ways.

I'm not saying that taking that risk wasn't worth it, but our share price now is directly down to MF draining our cash reserves and delivering nothing.

CHF is now effectively for sale, and have put all assets either into hibernation or into the care of others, while cutting costs to the bone by getting rid of expensive staff.

We either go to the sale room or to the wall.

As you rightly pointed out, we have done nothing, and will need a prospectus to raise capital, but there are options...

Btw, Venus and CHF will keep talks under NDA.

[ruthfuller665] 28/7/2023 15:44

Why wait for results from Adeline? The results won’t be until after the end of this season and it won’t make any difference to Cyprus at all. Chesterfield could have been sampling and mapping in Cyprus for several months this year already to work up new targets. They could have raised money this year or last year but chose not to. In fact, they have done no work at all.

What is the point of the company employing both an Executive Chairman and a CEO if they don’t do anything?

[janicesolihul] 28/7/2023 13:59

So-called "preliminary talks" re Cyprus have been going on for a year, and almost certainly don't exist. Venus are saying they have had no communication with Chesterfield whatsoever, so inside information hint from Excellence is actually just another porky.

[excellance] 28/7/2023 13:11

Let's hope Venus raise enough to pay their directors fees, especially if they pay themselves Frenchy sized wages.

As for CHF, they've stated they won't raise capital until results from Adeline, and don't forget the preliminary talks re Cyprus.

Venus mentioned "other opportunities", I wonder if that means us?

🤪

[ruthfuller665] 28/7/2023 11:46

Venus is out in the London markets this week raising funds for its exploration programes in Cyprus. How come Chesterfield is not doing the same?

[ruthfuller665] 27/7/2023 23:24

Unbelievable

[ruthfuller665] 27/7/2023 17:28

Perhaps because she believes you should have integrity, be honest and work for your shareholders

[excellance] 25/7/2023 08:21

Why would the girlfriend of the former CEO be so keen to cast doubt on the new team if she has no interest in the company?

[ruthfuller665] 25/7/2023 08:18

Why would the Executive Chairman of a Plc be posting a campagne of false and misleading statements on his own bulletin board almost daily if he wasn’t trying to hide something.

[excellance] 24/7/2023 13:46

And how good is our "exploration track record"?

As I've said repeatedly we don't even have a rig, no crews, not even a shed. We have a couple of part time old timer geologists and that's it.

To drill in Canada, particularly in pristine wildlife areas with first nations, there needs to be certain documents for accreditation and underwriting to give credibility and to cover costs if things go wrong. CHF never had those, ever.

Pacton needed to invest heavily to get those documents in place and for personal reasons the owner decided he didn't want the extra risk, and that decision was 100% made by the owner, nobody else.

Sterling are a good outfit, they are kitted up, funded, certified, underwritten, and good to go.

Yes they got a good deal, but so did we.

[excellance] 24/7/2023 12:11

What you are suggesting there is outright corruption Ruth.

"Chesterfield didn’t spend £1.5m on Adeline, the secondary listing cost less than C$100,000, flow-through is designed to encourage exploration investment in Canada, the secondary listing in Canada would not have changed the ownership structure of Adeline at all.

Pacton Gold couldn’t raise funds because of its poor exploration track record and poor standards of corporate goverence. Everyone knows that. Pacton was a lousy company to get into bed with and selling Adeline at all was a ridiculous deal/strategy full stop. It was done not because it made any sense at all for shareholders, but because of a backroom deal struck with Perter Damouni, a former Chesterfield director and close associate of the CEO of Pacton Gold.

When the Pacton deal fell apart, the new managers of Chesterfield panicked because their expected pay day did not arrive. So they sold Adeline in a cut price deal to another Canadian junior, Sterling Metals. Sterling couldn’t believe its luck."

[ruthfuller665] 24/7/2023 09:29

Yet another slew of misinformation. Chesterfield didn’t spend £1.5m on Adeline, the secondary listing cost less than C$100,000, flow-through is designed to encourage exploration investment in Canada, the secondary listing in Canada would not have changed the ownership structure of Adeline at all.

Pacton Gold couldn’t raise funds probably because of its poor exploration track record and poor standards of corporate goverence. Pacton was a poor quality company to get into bed with and selling Adeline at all was a poor deal/strategy for shareholders. It was done not because it made any sense at all for shareholders, but because most likely a deal struck with Perter Damouni, a former Chesterfield director and close associate of the CEO of Pacton Gold.

When the Pacton deal fell apart, the new managers of Chesterfield panicked because their expected pay day did not arrive. So they sold Adeline in a cut price deal to another Canadian junior, Sterling Metals. Sterling couldn’t believe its luck.

We are now witnessing a campaign of misinformation on this bulletin board as parties attempt to justify a series of decisions at Chesterfield that clearly warrants closer inspection, and a situation at the company that continues to deteriorate.

[excellance] 23/7/2023 18:00

I didn't say Adeline was bought for cash, but the endeavour still cost US £1.5m

I didn't say flow thru was not a genuine tax management scheme.

Adeline was owned by Chesterfield (Canada) ltd, a subsidiary of CHF PLC. We intended to dual list on TSX, so a Canadian asset, owned by a Canadian Ltd co, controlled by Canadian law via dual listing.

Pacton backed out because the owner changed his mind about risk going forward and backed out, and yes you could argue that jumping through hoops to get approval at great expense and personal effort was a risk he chose not to take.

[ruthfuller665] 23/7/2023 16:49

Yet more falsehoods from Excellence

Adeline was not bought for cash

Flow through is not a tax-avoidance scheme, it is sponsored by the Canadian government

Adeline was never going to be transferred to a Canadian listed entity

Pacton backed out because it couldn’t raise funds or get regulatory approval