Exploration firm Chesterfield forecasts drop in monthly cash burn; shares up
09/08/2022 09:43
** Shares of Chesterfield Resources CHF.L up 5.8% at 3.18p
** Copper focused exploration company expects ongoing
monthly cash outgoings to reduce by over 50% in the months
ahead, after initial round of cost efficiencies urn:newsml:reuters.com:*:nASM000MNH
** CFO Ajay Kejriwal to take on additional responsibility as
interim chief executive officer; agrees to a cut in his
remuneration
** Total compensation of board reduced by 50%; co does not
expect to undertake any dilutive equity offerings for the
remainder of 2022
** Stock sees best one-day gain since March 24
** As of last close, stock down 65.71% so far this year
(Reporting by Hani Kollathodi in Bengaluru)
((Hani.Kollathodi@thomsonreuters.com;))