It’s Cyprus, Canada, New York and Frankfurt for Chesterfield Resources
“…Our shareholder base is expanding in tandem with asset expansion…”
With gold and copper assets in Cyprus and Canada, shareholders including a blue chip metal mining company, interest from high net worth investors in Germany and brokers in New York, Chesterfield Resources has laid foundations for multiple secondary listings in the U.S., Frankfurt and Toronto.
The strengthening of the shareholder base will expand the projects’ credentials beyond the current U.K. listing on the London Stock Exchange, and Executive Chairman Martin French hopes will lead to a re-rate in the stock, particularly as experts say “There’s potential for a resource fairly soon.”
The company’s January announcement about the positive copper and silver assay results from targets within its Adeline copper project in Labrador coincided with a turbulent end of January market resulting in counter-intuitive stock behaviour. A very recent flash note from Panmure Gordon on the Labrador results indicated a price target of 21p but also hinted towards an uplift in this guidance upon further drilling.
The paperwork burden associated with multiple listings is a Herculean task, but 2022 is another year closer to the explorer proving up its resources before engaging with the companies that can take the assets to production.
Listen to Martin talk to Sarah Lowther about why his geologists are excited, the imminent drill programme and building of the ‘weather haven’ base camp at Labrador, and the international affirmations that Chesterfield’s assets are gold standard both literally and metaphorically.
Access the January 2022 presentation here
Watch Martin and Mining International’s Rob Tyson talk on the Dig Deep Mining Podcast
Read TMS Reach’s in-depth feature on Chesterfield
Follow the company on Twitter – @ChesterfieldPlc
The author was remunerated but does not hold shares in the company
