Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Chesterfield reported a narrowed pre-tax loss of GBP 74,712 for H1 2025, compared with GBP 187,138 a year earlier.

  • A successful equity raise and partial disposal of Sterling Metals shares improved liquidity, with a cash balance of GBP 49,055 at period end.

  • The Board maintained cost discipline, deferring most salaries, while retaining exposure to Sterling Metals’ ongoing drilling programme.

Chesterfield Resources PLC (LSE:CHF), the London-listed mineral exploration company, has announced its interim results for the six months ended 30 June 2025. The update highlights continued financial discipline, higher liquidity, and progress on portfolio management.

Chairman’s Review

The Board stated that the first half of 2025 was marked by measured progress, with a continued emphasis on financial discipline and strategic positioning. Costs were kept to a minimum, and most Board salaries were once again deferred, reflecting the company’s commitment to conserving cash and aligning management interests with shareholders.

During the period, the company completed a successful equity raise, enhancing its balance sheet and positioning itself to capitalise quickly on future opportunities. The Board expressed gratitude to shareholders for their support in what remains a challenging market environment.

Chesterfield also executed a partial disposal of its holding in Sterling Metals, generating value while retaining a significant interest. The company noted that Sterling’s ongoing drilling programme has the potential to further enhance the value of this investment, which it will continue to monitor closely.

Management highlighted that the combination of tight cost control, improved financial position, and a growing pipeline of potential opportunities leaves the company well placed to deliver progress in the second half of the year.

Financials

For the six-month period ended 30 June 2025, the Group reported a pre-tax loss of GBP 74,712, compared with a loss of GBP 187,138 in the same period in 2024. The Group’s net cash balance as at 30 June 2025 was GBP 49,055, slightly higher than the GBP 47,074 recorded a year earlier.

Responsibility Statement

Looking ahead, Chesterfield emphasised that its balance sheet, ongoing commitment to cost control, and exposure to potential upside from its retained investments position the company for meaningful developments in the months to come.