Saturday, September 23rd 2023

Chesterfield Resources PLC

keep up to date with the latest news


With a cocktail of ingredients Chesterfield Resources is making Institutional heads turn


“…FTSE 100 Giant Polymetal has taken a stake in Chesterfield, that’s a big endorsement for a small company…”


There’s something quite Sherlock Holmes about this year’s board appointments at Chesterfield Resources.

Ajay Kejriwal has joined as Chief Financial Officer and Paul Ensor as Non-Executive Director.  Both have known Executive Chairman Martin French for decades, neither are ‘Yes’ men often airing non consensus views at the weekly meetings, and as individuals they enjoy finding the missing pieces and seeing where they fit within the wider context.

And investors are now in no doubt of what the bigger picture is with the size and scope of this year’s exploration campaign as outlined in the early April update to shareholders published this morning. Click here to view today’s RNS in which Chesterfield announces it has commenced its 2021 mineral exploration campaign in Cyprus. The programme is to search for additional tonnage of copper, gold, silver and zinc after high grade intercepts were assayed in February.

Ensor is a self-confessed polymath, a generalist analyst, but one who favours precision and articulates Chesterfield’s discovery of a trend which has sheared off and one which the brilliant on- location team in Cyprus is picking up the scent and tracking down.

Kejriwal too has the propriety of his chartered accountant heritage, but this is blended with his excitement about the assembled team, the backing of FTSE 100 miner Polymetal International which holds a 23% stake and the possibilities that lies within Chesterfield’s current estate and its potential future assets.

Both men talk about possible mergers and acquisitions that may be pursued that would make sense to shareholders and at sensible prices.  This may explain M&A specialists Panmure Gordon being brought on as joint brokers and the institutional investors that are soon to be meeting with the Chesterfield team.

Kejriwal stresses that while many companies pay lip service to ESG (environment, social and governance) implementation, Chesterfield is playing its part in the green energy revolution.  It’s exploring for many commodities but in this podcast with Sarah Lowther it’s copper that gets the most audible column inches.  After all the word ‘copper’ comes from ‘Cuprum’ the Latin name for Cyprus and it’s factoids like this that modern day Sherlock Holmes’ love to include in their investment growth narratives.


Watch Martin, Ajay, Paul and director David Cliff talk about the drill results announced in February.


Click here to view the most recent and soon-to-be superceded corporate presentation

The author was remunerated but does not hold shares in the company