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LONDON - Chesterfield Resources PLC (LSE:CHF) reported a pre-tax loss of £74,712 for the six months ended June 30, 2025, a significant improvement from the £187,138 loss recorded in the same period last year, according to the company’s interim results statement released Friday.
The London-listed mineral exploration company ended the period with a cash balance of £49,055, slightly higher than the £47,074 reported at the same point in 2024.
During the first half of the year, Chesterfield completed an equity raise that brought in £130,000 before costs, strengthening its financial position. The company also partially divested its holding in Sterling Metals, generating proceeds of £21,804 while maintaining what it described as a "significant interest" in the company.
The board has maintained a focus on cost control, with the majority of board salaries being deferred to preserve cash resources. Total administrative expenses decreased to £195,040 from £261,419 in the first half of 2024.
"The combination of tight cost control, a reinforced financial position, and a growing pipeline of potential opportunities gives us confidence that the Company is well positioned to deliver meaningful progress in the period ahead," said Kashif Afzal, Executive Chairman, in the press release statement.
The company’s total assets stood at £384,871 as of June 30, 2025, down from £751,981 a year earlier, while total liabilities increased to £225,545 from £27,096.
The interim results were approved by the company’s board of directors on September 5, 2025.
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