Gold Exploration in West Africa

[FL]

Guinea NEW: Chester Mining Ltd. (CHT on ASX)

Chester Mining is a very small Perth, Australia, based company with a gold property in Australia, and three gold properties in Guinea owned through Compagnie Miniere Atlantique (which is 100% owned by Chester). It's doing something else: "Chester entered into a strategic alliance with Rewards Group Limited pursuant to which Chester commenced a new agribusiness division which is involved in managed agribusiness investment schemes..." (Dec. 2004 Activities Report) "... an economic interest in approximately 136 hectares of mango orchards..." (22 April 2005 report). The mango orchard is in Australia.

In Guinea the gold properties are said to be:
Bankole (125 sq. km.)
-----Compagnie Miniere Atlantique SA 40%,
-----Australian United Gold 40%,
-----Mincor Resources 20%.

Kosoko (125 sq. km.)
-----Compagnie Miniere Atlantique SA 100%.

Sananfora (248 sq. km.)
-----Compagnie Miniere Atlantique SA 100%.

The Guinea licenses were recently renewed. There was no active exploration by Chester in the last reported quarter. Australian United Gold and Mincor are publicly traded on the Sydney ASX.

The Chester shares (traded as "CHT" on the Sydney ASX) have fluctuated around AU$0.01 for over two and a half years. There are 465,379,503 shares, according to
http://www.goldinvestment.com.au/where.asp?investmentType=1&letter=c

Another "dilution delight".

See the company's 2004 Annual Report at:

http://www.bourseinvestor.com/bi4/pdfnews/default.asp?d=00471848&f=20041026&y=0

I haven't found any company web-page for Chester Mining Ltd. (This company has nothing to do with Chester Mining Company (CHMN) in the Coeur d'Alene district of Idaho, USA.)

The contact information is:

Chester Mining Limited
ABN 93 009 204 175
32 Parliament Place, West Perth, WA, 6005, Australia
PO Box 378, West Perth, WA 6872, Australia
Telephone: [phone]; Facsimile: [phone]
Email: [e-mail]

FL