Chesterfield Resources plc executive chairman Kashif Afzal has further increased his stake in the company after participating in the £130,000 fundraise on 23 May 2025.
POLYMETAL
Mr Afzal, through his 100% owned Juniper International FZ LLC, purchased two million ordinary shares each at an aggregate price of 0.5p pence.
Juniper’s total interest in Chesterfield is now 25,333,334 ordinary shares, representing 16.21% of the total voting rights.
Mr Afzal’s 2023 purchase of 23,333,334 Chesterfield shares from Polymetal International plc, representing a 17.9% shareholding, remains subject to regulatory considerations.
Chesterfield said it was expected notification upon completion of the remaining formalities.
Non-executive director Paul Ensor also participated in the fundraise by purchasing two million ordinary shares, each at an aggregate price of 0.5p pence.
His total interest in the company is now 2,172,841 ordinary shares, representing 1.39% of the total voting rights.
Altius Minerals holds a 7.7% stake in Chesterfield.
The company has copper exploration assets in Cyprus and expected proceeds from the sale of its Adeline copper project in Labrador, Canada.
By the end of 2024, the group’s losses halved to £836,836 (31 December 2023: loss of £1,911,855) while its cash position fell to £68,361 (2023: £278,675).