A special purpose acquisition company focused on opportunities in the mining sector.
ABOUT
The Company will primarily be focused on acquiring a company, business or asset (the “Acquisition”) that has operations in the exchange traded non-ferrous metals segment within the European geographic region. Exchange traded non-ferrous metals include precious metals (e.g. gold, silver and platinum) and base metals (e.g. copper, lead, zinc, tin, aluminium and nickel). Chesterfield expects that the Acquisition is likely to be valued at up to £20 million, although larger opportunities may be considered if the Directors are satisfied that the Company has the resources available to it to proceed with such a transaction.
STRATEGY
The Company intends to focus on an Acquisition where value is trapped by virtue of a capital or expertise deficit, which may often occur in family controlled businesses and small companies or where the business or assets are considered non-core by a larger natural resources company. Chesterfield intends to identify a company, business or asset where the existing owners are attracted to the Chesterfield proposition, namely the opportunity to sell for cash or hold an ownership interest in a London listed company with cash, access to capital markets and the know-how to unlock the value of their resource assets.
The Company will aim to acquire all or the substantial majority of the Acquisition and become a trading business, rather than an investment entity. Chesterfield intends to use the Acquisition as a cornerstone to build a substantial group within the sector, growing organically and by further acquisition.
The Directors believe that the Company should be well placed to compete against other market participants in the exchange traded non-ferrous metals exploration and production sector on the basis that:
- the Directors have wide-ranging experience working for and/or advising businesses operating within the natural resources sector;
- the Directors have an extensive network of relationships to reach the key decision-makers and owners of potential target in the sector; and
- the Company has considerable flexibility in how it would be able to finance the consideration for the Acquisition, which may include a proportion of the Company’s cash resources together with the potential to incur indebtedness and/or to issue additional shares, whether to raise additional cash or as transaction consideration.
DIRECTORS
Christopher Hall
Non-Executive Chairman
Christopher is an experienced mining finance and investment specialist and corporate manager with a career spanning more than 40 years and encompassing exploration and mine geology, mining share analysis, specialist fund management, M&A, general management and wide-ranging consultancy. Between 1998 and 2003, Christopher was with international mining consultants, Behre Dolbear International Limited, initially as a consultant and then from 2000 as President, managing the UK office covering Europe, the Middle East, Russia, the Former Soviet Union, India and parts of Asia. He acted as an in-house mining adviser/resources specialist for international accountant and AIM Nominated Adviser Grant Thornton LLP, UK from 2005 until 2015, advising capital markets and audit functions. Christopher is a Director of Rift Resources Limited, a private exploration company operating in East Africa and the Middle East, and, until 2016, was Non-Executive Chairman of AIM-traded companies Stratex International plc, a gold producer and explorer active in Turkey and Senegal with strategic interests in East Africa and Ghana, and Goldstone Resources plc, an exploration company operating principally in Ghana. Christopher holds a BSc degree in Geology from the University of Reading, an MSc degree in Exploration and Mining Geology from the University of Leicester and is a Chartered Engineer, Member of the Institute of Materials, Minerals and Mining.
David Cliff
Non-Executive Director
David is an experienced geologist who spent 26 years working in a management capacity for the Rio Tinto Exploration group until 2006, including the last five years as Exploration Manager Europe. During his time with Rio Tinto Exploration, he headed exploration teams in the wider European area, including the discovery and evaluation of the Çöpler gold mine in Turkey, now owned and operated by Alacer Gold Corporation. David commenced his career in 1968 with the Union Corporation group, spending seven years in South Africa (including work on the discovery and evaluation of the Beatrix Gold Mine complex, as well as the development of the Unisel mine and production-related geology at St Helena Gold Mine). Prior to that he spent four years in the United Kingdom, mainly involved in development and production at two Cornish tin mines. More recently, he was a Director and Chief Executive Officer of Columbus Copper Corporation (formerly Empire Mining Corp.), a Toronto Venture Exchange listed exploration company exploring copper and gold assets in western Turkey and chromite in Albania, until its merger with Energulf Resources Inc. in 2015. David holds a BSc honours degree in Geology.
Peter Damouni
Non-Executive Director
Peter has over 16 years of experience in investment banking and capital markets, with expertise in mining and oil and gas. During his career, Peter has worked on and led equity and debt financings valued at more than $5 billion. He has comprehensive experience in equity financing, restructuring, corporate valuations and advisory assignments. Peter is a Non-Executive Director of Georgian Mining Corporation, an AIM traded copper and gold development and exploration company and of Kerr Mines, Inc., a Toronto Stock Exchange listed North American gold development and exploration company based in Toronto, Canada.
Derek Crowhurst
Non-Executive Director
Derek has spent more than 30 years working in the City of London, having commenced his career with R. Nivison & Co. (ultimately absorbed into Smith & Williamson Investments) as a fixed-interest analyst before progressing to the eurobond sales/trading desk, where he became involved in the issuance of eurodollar convertible bonds. He became increasingly focused on providing corporate financial advice, culminating in him joining Keith, Bayley Rogers & Co. in 1993, where he worked on numerous IPOs (on both the Official List and AIM), secondary fund raisings and M&A transactions. After spending more than 15 years with Keith, Bayley, Rogers & Co., the last two years of which as Managing Director of the business, Derek left to join Religare Capital Markets Limited in 2009 and moved to natural resources specialists VSA Capital Limited in 2012. Since January 2014, he has been a Director – Corporate Finance with corporate financial advisory boutique, Argento Capital Markets Limited. Derek holds a BSocSc honours degree in Mathematics, Economics and Statistics from the University of Birmingham and is a Fellow of the Chartered Institute for Securities and Investment and an FCA Approved Person.
INVESTORS
CORPORATE DOCUMENTS
ADVISORS
Broker:
Shard Capital Partners LLP
23rd Floor
20 Fenchurch Street
London
EC3M 3BY
Auditors:
Saffery Champness LLP
71 Queen Victoria Street
London
EC4V 4BE
Solicitors:
Fladgate LLP
16 Great Queen Street
London
WC2B 5DG
Registrars:
Neville Registrars Limited
Neville House
18 Laurel Lane
Halesowen
B63 3DA
Bankers:
Barclays Bank plc
1 Churchill Place
Canary Wharf
London
E14 5HP
OUR LATEST NEWS
30 April 2018 – Annual Financial Report and AGM Notice
4 April 2018 – Holding(s) in Company
4 April 2018 – Holding(s) in Company
2 November 2017 – Possible Transaction and Temporary Suspension
29 September 2017 – Half-Year Report
29 August 2017 – Admission to Trading
22 August 2017 – Publication of Prospectus