# SFX - Sheffield Resources



## TheAbyss (9 December 2010)

Anyone thinking about this one?

Former directors of Warwick Resources who sold to AGO are starting this one up 

Targets are iron ore in the Pilbara, tungsten in the Kimberleys and mineral sands which will be next door to Iluka plus talc targets near the three springs mine (Rio)

If they can prove up some resource and sell out ala Warwick to Atlas it will be happy days again.

Disclosure doc: http://asx.com.au/asxpdf/20101115/pdf/31tx15lq540vjm.pdf

Home page: http://sheffieldresources.com.au/


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## springhill (13 July 2012)

MC - $28m
Current SP - 28.5c
Shares - 94m
Cash - $8.7

Breakaway Research have a report out on SFX
http://www.sheffieldresources.com.au/pdf/sheffieldresourcesapril.pdf

*Latest announcements from Sheffield.*

SHEFFIELD DISCOVERS NEW HMS DEPOSIT AT ENEABBA PROJECT
KEY POINTS
● First results from Sheffield’s 2012 Eneabba Project drilling programme includes the discovery of a new, substantial heavy mineral sand (HMS) deposit at Durack
● Mineralisation is from surface, up to 18 metres depth
● Discovery is expected to substantially improve economics of the Eneabba Project (pre-feasibility studies commenced)
● Resource estimation work underway
● Drilling continues at the Eneabba Project – results are expected to be available progressively from June 2012
The drilling program at Durack returned excellent results (Table 1), including:
● 13.5m @ 3.66% HM from 0m in hole DUAC110
● 13.5m @ 3.44% HM from 0m in hole DUAC074, includes 9m @ 4.56% HM from 0m
● 10.5m @ 4.28% HM from 0m in hole DUAC073, includes 6m @ 6.24% HM from 0m
● 12.0m @ 3.69% HM from 0m in hole DUAC101


DRILLING COMMENCED AT DAMPIER HMS PROJECT
KEY POINTS
● Drilling programme will test large Exploration Target at potentially world class Thunderbird zircon prospect
● Drilling campaign finalised on Eneabba & McCalls HMS projects
● Assay results and resource estimation work for Dampier and Eneabba will be reported progressively from August


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## springhill (31 July 2012)

*NEW NICKEL-COPPER DISCOVERY NEAR SHEFFIELD’S RED BULL PROJECT*

In response to recent investor interest, Sheffield Resources wishes to advise of the status and mineral potential of its Red Bull Project, located within 20km of Sirius Resources NL’s (ASX:SIR) recent nickel-copper discovery at its Fraser Range Project in Western Australia.

Sheffield’s Red Bull project tenements were initially applied for because of their near-surface heavy mineral sands (HMS) potential, however Sirius Resources NL’s recent discovery highlights the exploration potential in the bedrock beneath thin cover sequences.

Sheffield’s Managing Director Bruce McQuitty commented, “Sirius Resources’ drilling results potentially open up a new nickel-copper province. The discovery is a terrific result for Sirius Resources and a boost to the broader junior resources sector, as it highlights the potential leverage to exploration success.”

“Importantly for Sheffield, whilst we remain focussed on our mineral sands projects, we are cautiously excited given the proximity of the Nova discovery to our Red Bull project which lies within similar high grade metamorphic.”

“Following the recent granting of one of the project tenements, we look forward to progressing exploration at Red Bull as soon as possible,” Mr McQuitty said.

“We are also pleased to advise that drilling is progressing well at our Dampier HMS Project, which has the hallmarks of a world class zircon deposit,â Mr McQuitty added.


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## burglar (31 July 2012)

I always like a little nearology!


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## springhill (31 July 2012)

burglar said:


> I always like a little nearology!




Take a look at Matsa then.


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## springhill (20 September 2012)

*EXCEPTIONAL RESULTS FROM NEW MINERAL SANDS DISCOVERY*

The latest results from 47 holes have returned high grade mineralised intervals of up to 42 metres in width, including:
● 32.1m @ 10.1% HM from 9m (THAC048), including 28.5m @ 10.9% HM from 10.5m
● 40.5m @ 7.8% HM from 3m (THAC047), including 18m @ 13.4% HM from 4.5m
● 41.5m @ 7.3% HM from 9m (THAC057), including 32.5m @ 8.6% HM from 18m
● 42m @ 6.3% HM from 21m (THAC025), including 31.5m @ 7.6% HM from 24m
● 27m @ 8.6% HM from surface (THAC040), including 22.5m @ 9.8% HM from 1.5m
● 30m @ 6.9% HM from surface (THAC044), including 18m @ 9.2% HM from surface
● 33m @ 7.1% HM from surface (THAC053), including 15m @ 12.1% HM from surface
● 31m @ 7.4% HM from 4.5m (THAC039), including 19.5m @ 10.1% HM from 9m
● 26m @ 9.6% HM from 15m (THAC064), including 24.5m @ 10.1% HM from 16.5m
● 17m @ 12.2% HM from 22.5m (THAC049)


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## noirua (3 May 2013)

Drilling has commenced at Red Bull in the Fraser Range: http://www.asx.com.au/asxpdf/20130501/pdf/42fmmlvzv8kkym.pdf
http://www.asx.com.au/asxpdf/20130501/pdf/42fmmlvzv8kkym.pdf


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## noirua (5 May 2013)

springhill said:


> *NEW NICKEL-COPPER DISCOVERY NEAR SHEFFIELD’S RED BULL PROJECT*
> 
> In response to recent investor interest, Sheffield Resources wishes to advise of the status and mineral potential of its Red Bull Project, located within 20km of Sirius Resources NL’s (ASX:SIR) recent nickel-copper discovery at its Fraser Range Project in Western Australia.
> 
> ...




Post 10 months old, fair enough. It points to the possible upside of a nickel/Copper province in WA -- still stands with SFX third out of the box on drilling.

Are Sheffield a cheap investment  and multi-bagger in the making? The answer is, a more solid high risk stock in a very weak sector. Could surprise massively on the upside if the market improves with the US Dow, however, if drilling at Red Bull is not successful and markets drift further, then a massive downside risk.


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## Garpal Gumnut (5 May 2013)

noirua said:


> Post 10 months old, fair enough. It points to the possible upside of a nickel/Copper province in WA -- still stands with SFX third out of the box on drilling.
> 
> Are Sheffield a cheap investment  and multi-bagger in the making? The answer is, a more solid high risk stock in a very weak sector. Could surprise massively on the upside if the market improves with the US Dow, however, if drilling at Red Bull is not successful and markets drift further, then a massive downside risk.




I'm looking at them.

From the AFR yesterday, a favourable mention.



> Most experts recommend buying resources producers over explorers. Access to capital is a big threat for explorers that need to fund feasibility studies and mines. Low share liquidity is another risk. But pessimism towards exploration stocks is also an opportunity for speculators who can tolerate high risk.
> 
> MineLife’s Gavin Wendt says the bear market in resources has drowned out several well-run resources companies that are exceeding milestones.
> 
> Four stocks stand out. Wendt favours Sheffield Resources, an emerging bulk commodity play with a flagship mineral sands project in West Australia. “The project looks world class in terms of grade and size and will be a company maker for Sheffield.”




gg


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## piggybank (15 April 2014)

When Garpal Gumnut submitted the last post, the price was 56c (05/05/13), not that much lower (35%) than todays closing price of 76c. However the volume has significantly increased over the past couple of days, and the price has increased 8.4%. Will it break through the resistance of 76c? Time will tell!!

​


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## piggybank (23 April 2014)

Daily Update:-

​


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## mojowo (28 August 2014)

*SFX Sheffield Res.*

Found this during a scan.
I'm still a little green here but looks like a target of $1.30??
Anyone's thought appreciated.


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## mojowo (28 August 2014)

*Re: SFX Sheffield Res.*

Am going to move this post to the official SFX thread......
Sorry


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## mojowo (28 August 2014)

piggybank said:


> Daily Update:-
> 
> View attachment 57702​




Found this during a scan.
I'm still a little green here but looks like a target of $1.30??
Anyone's thought appreciated.


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## NZInvester (9 December 2015)

Anyone have any thoughts on the SPP and Capital Raising that SFX is currently doing?


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## NZInvester (8 July 2016)

Share Price is starting to move for SFX after a very quiet period since the SPP and Cap Raising..... 

Anyone watching these guys?

Sheffield Resources Limited (“Sheffield”, “the Company”) (ASX:SFX) today announced an updated Mineral Resource of 3.23 billion tonnes @ 6.9% heavy minerals (HM) for its 100% owned, world-class Thunderbird Mineral Sands Project, near Derby in northern Western Australia (Figure 7).
The new Mineral Resource, which was updated to include 110 infill holes drilled in the “up-dip” region of the deposit (see ASX announcement dated 10 December 2015), includes a coherent high grade zone of 1.05Bt @12.2% HM at a 7.5%HM cut-off (Measured, Indicated and Inferred). This high grade zone contains 9.7Mt of zircon, 3.0Mt of high-titanium leucoxene and 35Mt of ilmenite.

HIGHLIGHTS
● 100% increase in Measured category of high-grade Mineral Resource
● Outstanding in-situ zircon grade of 1.07% in Measured Resource category (>7.5% HM cut off)
● Coherent high grade zone of 1.05Bt @ 12.2% HM (7.5% HM cut-off)


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## NZInvester (28 March 2017)

Is anyone watching these guys? Another very impressive announcement and NPV of $676million with IRR of 25%....

THUNDERBIRD BFS DELIVERS OUTSTANDING RESULTS
HIGHLIGHTS1
● Bankable Feasibility Study confirms Thunderbird as a world class mineral sands project
● Long mine life of 42 years, offering leverage to multiple pricing cycles
● Pre-tax NPV10 of A$676 million, IRR of 25%
● Stage 1 capital of A$324 million plus A$24 million contingency (A$348m, US$261m)
● EBITDA of A$5.1 billion over Life of Mine (LOM), averaging A$123 million per annum
● First 10 years of scheduled production comprises 97% Proved Ore Reserves
● Globally significant annual production of zircon and ilmenite
● Premium Zircon is ceramic grade, LTR Ilmenite has market leading qualities
● Offtake negotiations are in progress
● Azure Capital leading discussions with project financiers and strategic investors
● Targeting initial production in 2019
● 100% owned and located in one of the world’s best mining jurisdictions


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## kid hustlr (11 May 2018)

Not one that I'm on however I was watching closely for several weeks.

I'm comfortable with my current risk levels and I have a slight bias against resource stocks yet this is a pretty decent set up.

I like entering 'above the spikes' such as the example below. One for the volt.


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## rnr (11 May 2018)

kid hustlr said:


> Not one that I'm on however I was watching closely for several weeks.
> 
> I'm comfortable with my current risk levels and I have a slight bias against resource stocks yet this is a pretty decent set up.
> 
> ...




SFX Showing *potential* areas of divergence, both bullish "A" (blue) & bearish "A" (red), which were obvious on the bars noted.


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## greggles (24 July 2018)

Sheffield Resources up 9.21% to 83c today with no obvious catalyst. Chart is starting to look healthy again after two months of decline and consolidation.


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## Miner (14 December 2018)

Hello SFX followers
How do you see this stock going to behave considering it is now around 65 cents, asked for a miniscule amount of fund to support its $360 M (about) CAPEX and same time looking for a strategic partner.
Strategic partner does not come overnight, wondering what would be the future of the CAPEX and how that relates to its contractors and suppliers from local community as well.
DNH


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## noirua (24 December 2018)

Sheffield have fallen back sharply of late. It is taking a very long time to get this project of theirs underway. The recent fall looks overdone and the market should eventually appreciate this first class  company.


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## Miner (17 March 2019)

Please refer to the 6 monthly report from Sheffield and how nicely they have reported the deferment of the project being under care and maintenance due to weather. very clever reporting indeed.
I have always known that an operating plant only stops operation under a care and maintenance plant.
SFX appears to be rewriting the definitions for a greenfield project being held under care and maintenance. They succintly avoided to report how $400 M would be funded and what were the actions after the capital raise did not match the target. ASX is unfortunately very blind to ask questions.
DNH however.
For those who want details please refer the following:
https://www.asx.com.au/asxpdf/20190314/pdf/443h7qzl240j0w.pdf - extracted section


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## Trav. (14 July 2019)

Nice BO on Friday for SFX even after the retraction on the ore reserve update which I thought was unusual


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## Smurf1976 (15 July 2019)

Trav. said:


> Nice BO on Friday for SFX even after the retraction on the ore reserve update which I thought was unusual



Speculation that the retraction is because the truth is better than what they'd said previously?

Just a random thought.


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## Trav. (15 July 2019)

I just re read the 10% ore reserve increase announcement and their quarterly cash flow report and my thinking is that they are not making any money and are desperate for the release of Bankable Feasibility Study (BFS) and this announcement (ore reserve increase) was the prop for the SP while they wait on the BFS.

So back to the question on why the SP bounced 1 day after the retraction ....... I still have no idea


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## Dona Ferentes (28 December 2021)

Thunderbird is Go....go .....  gone .... to another port









						This town wants $10m from a mining company for backflipping on a port-use deal
					

The small Kimberley town of Derby has sent a bill for $10 million to mining company Kimberley Mineral Sands for changing its mind over a deal to use its port.




					www.abc.net.au


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## Dona Ferentes (28 December 2021)

_Thunderbird is one of the largest and highest grade *mineral sands *discoveries in the last 30 years.  Sheffield had the 2019 Bankable Feasibility Study Update which shows Thunderbird is a technically low risk, modest capex project that generates strong cash margins from globally significant levels of production over an exceptionally long mine life spanning multiple decades. 

Thunderbird will generate a high quality suite of mineral sands products with specifications suited to market requirements.  These products include a zircon products and ilmenite suitable for manufacturing titanium dioxide pigment or smelting into chloride slag. _

 And by *Jan *2021

Sheffield Resources and Yansteel execute binding definitive documents to form a 50:50 Joint Venture on the Thunderbird Mineral Sands Project and associated tenements.    
Formation of the JV, including payment of A$130.1 million by Yansteel to acquire 50% of the Project, expected over the coming weeks 
Confirms a long term strategic partnership with a large private steel company that underpins their entry into titanium dioxide production    
Demonstrates a credible path to construction and production for Thunderbird, bringing hundreds of jobs and economic opportunities for the Kimberley and the rest of Australia.    
Then signs a Binding Offtake agreement in *June * 

 170,000 tonnes of zircon concentrate per year for five years contracted    
  Counterparties are three major zircon concentrate processors based in China    
  Combined with the Yansteel LTR ilmenite offtake contracts for ~ 80% of Stage 1 revenue are in place    
By *November *2021, a declutter of the portfolio and some handy cash in the till: Image Resources (IMA) signs a Binding agreement to acquire package of tenements in historic mineral sands mining district of Eneabba in Western Australia for *A$24 million cash* from Sheffield Resources Ltd.


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