Chesterfield Resources plc said it was making progress “on all fronts” in the conditional sale of its 100% interest in the Adeline copper licences in the Labrador region of eastern Canada. AGREEMENT The company purchased the assets from Altius Minerals in May 2021 before increasing the licence area the following month. In October 2022, Chesterfield […]
Tag: Chesterfield Resources plc
Chesterfield to reduce Cyprus licences to three
Chesterfield Resources plc said it planned to surrender some of its Cyprus licences over the next six months to reduce unnecessary spending and potential shareholder dilution. COSTS The company added it would continue to advance its “most highly prospective” retained Westline and Orchard core assets. Chesterfield will reduce its Cyprus portfolio from 26 licences covering […]
Chesterfield losses widen as field work progresses
Chesterfield Resources plc losses widened as the company continued field activities at its copper-gold portfolio in Cyprus and Canada. FINANCES The company’s interim results for the first half of 2022 showed pre-tax losses of £491,607 (H1 2021: £433,538). The group’s net cash balance as at 30 June 2022 was £663,226 (H1 2021: £1,504,973). Administration costs rose to £536,739 (H1 2021: £433,538). Chesterfield recorded revenue […]
Chesterfield to minimise dilutive capital raisings
Chesterfield Resources plc said it had completed the initial round of cost efficiencies to minimise the need for dilutive capital raisings. REDUCTIONS The company previously stated it hoped to source the capital from non-dilutive external sources for the development of its Adeline copper project in Labrador, Canada. Chesterfield today added it expected to reduce “ongoing […]
Chesterfield appoints Ajay Kejriwal as interim CEO
Chesterfield Resources plc has appointed chief financial officer Ajay Kejriwal as interim chief executive officer. Chesterfield said that he would continue as CFO and has agreed to a reduction in renumeration as he increases his responsibilities to the company. During the interim period, Chesterfield will focus on third party transactions following which it intends to […]
Chesterfield deems secondary listing ‘not prudent’
Chesterfield Resources plc has revised its plans for secondary listings on the Toronto Stock Exchange Venture, Frankfurt and the OTC markets for its copper assets. STRATEGY The move is part of the company’s strategy to unlock value for shareholders from its Adeline project in Labrador, Canada and exploration package in Cyprus. In a statement, Chesterfield […]