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SFX - Sheffield Resources

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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
 
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.
 
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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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
 
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.
 
LIKE THE SMELL OF THIS AND IN LINE WITH THE STRENGTHENING AUSSIE GOLD PRICE

Apologies on capitals, but into this today. Good luck to holders and DYOR
 
TheAbyss said:
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)
Click to expand...
... from 2010..
.
they got there:

Kimberley Minerals Sands has completed a maiden product shipment of 300 metric tonnes of non-magnetic zircon concentrate from its Thunderbird mine.

Thunderbird, located on the Dampier Peninsula between Derby and Broome, is one of the largest and highest grade mineral sands discoveries in recent decades. Sheffield Resources and Yansteel own KMS through a joint venture.

The KMS team commenced production ahead of schedule in the last quarter of 2023, allowing the company to ship its bagged product through Port Hedland to offtake customers in China.

Preparations are underway for additional shipments and the commencement of bulk shipping from Broome during the current quarter.
 

Mineral sands ramp up in WA shows Thunderbird flying towards name plate capacity

Sheffield Resources Ltd has posted a significant ramp up in production from its Thunderbird mineral sands project in WA.
themarketonline.com.au
May 29, 2024, The ramp up has also facilitated a rise in the quantity of concentrates yielded from Thunderbird, with 65,000 tonnes of ilmenite produced this quarter – and 37,000 in May alone – and the amount of zircon totalling 20,000 tonnes for the quarter and 12,000 tonnes for May.

Product shipments for the June quarter are also up, including 55,000 tonnes of ilmenite being sent to joint venture partner Yansteel, and regular bulk product shipments expected through June for the rest of the quarter.
 

Sheffield Resources achieves milestone production, shipments at Thunderbird, WA

Sheffield Resources (ASX:SFX) has ramped up production and shipments from its Thunderbird Mineral Sands Mine in Western Australia. In June 2024, approximately 825,000 tonnes of ore were mined, with a quarterly expectation of 2.2 million tonnes, surpassing the 2022 Bankable Feasibility Study...
themarketonline.com.au
Sheffield retains around $10 million in cash and may reallocate funds to support KMS if required. The company also anticipates positive cash flows for the September 2024 quarter.

Sheffield shares have plummeted since this exact time last month, when the stock was trading at 49 cents apiece. However, the market has responded positively to the update this morning, which could see Sheffield recover some of its losses.

Sheffield Resources Limited - Exploration Company

Sheffield Resources is a mineral sands-focused company currently developing and exploring its 100% owned Thunderbird deposit, one of the world's largest, undeveloped zircon rich mineral sands deposits located in geopolitically stable northern Western Australia.
www.sheffieldresources.com.au
PROJECTS

Projects | Sheffield Resources Limited - Exploration Company

Sheffield Resources is a mineral sands-focused company, assembling a portfolio of global mineral sands development and production assets to generate cash returns and growth including the Thunderbird Mine in Australia
www.sheffieldresources.com.au
 
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