Chesser Resources Limited
CESSF
Other OTC0.01
USD
-0.06
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Chesser Resources Limited
CESSF
(Other OTC)
Recent
price
0.01
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ratio
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div
yld
- -
ROIC.AI
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- Business
- Chesser Resources Limited (ASX:CHZ; OTC:CESSF) is a gold exploration company focused on the discovery and development of gold deposits in Senegal, West Africa. The company holds interests in the Diamba Sud Gold Project, comprising four open-pittable high-grade gold deposits including multiple mineralized zones with indicated and inferred resources totaling approximately 860,000 ounces of gold, and the adjacent Diamba Nord Project; it also maintains exploration licenses and applications such as Morichou and Bondala covering around 872 square kilometers of prospective ground near tier-one gold mines. Incorporated in 2006 and headquartered in Subiaco, Australia, Chesser targets mining-friendly jurisdictions with potential for resource expansion through ongoing drilling and geophysical surveys. In September 2023, Chesser Resources became a wholly-owned subsidiary of Fortuna Mining Corp. (NYSE: FSM; TSX: FVI) following the completion of a scheme of arrangement valued at approximately A$89 million, under which Fortuna issued 15.5 million shares representing 5.1% of its outstanding shares in exchange for all Chesser shares. This acquisition expanded Fortuna's West Africa portfolio to include the preliminary economic assessment (PEA)-stage Diamba Sud Gold Project, with Fortuna prioritizing exploration to delineate additional resources ahead of a potential construction decision targeted for the first half of 2026. Post-acquisition, Chesser's shares were delisted from the ASX, marking a significant strategic shift from standalone exploration to integration within Fortuna's global operations spanning Argentina, Côte d’Ivoire, Peru, and Senegal.