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Sheffield Resources Ltd. — Capital/Financing Update 2015
Dec 7, 2015
44780_rns_2015-12-07_16bcdc88-f3cb-4241-b413-6bd16c3d465e.pdf
Capital/Financing Update
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ASX AND MEDIA RELEASE
8 December 2015
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SETTLEMENT OF PLACEMENT
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Mineral Sands developer Sheffield Resources Limited (“Sheffield” “the Company”) (ASX:SFX) advises that 10,498,995 new shares (“New Shares”) have been issued following settlement of the previously announced placement (“Placement”).
An Appendix 3B in respect of the New Shares is attached.
A further Appendix 3B will be lodged this week in relation to the balance of the Placement, totalling $182,552.
Sheffield’s directors have also collectively committed to contribute $167,640 in the Placement. A notice of general meeting which includes the resolutions to approve directors participating in the Placement will be despatched to shareholders in due course.
Secondary Trading Exemption Notice
The Corporations Act 2001 (“Act”) restricts the on-sale of securities without disclosure, unless the sale is exempt under section 708 or 708A of the Act. By Sheffield giving this notice, on-sale of the New Shares will fall within the exemption offered by Section 708A(5) of the Act.
Sheffield hereby notifies the ASX (as the operator of the prescribed financial market on which the New Shares are to be quoted) under Section 708A(5)(e) of the Act that:
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a) Sheffield issued the New Shares without disclosure to investors under Part 6D.2 of the Act;
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b) as at the date of this notice, Sheffield has complied with the provisions of Chapter 2M of the Act as they apply to Sheffield, and with Section 674 of the Act; and
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c) as at the date of this notice there is no “excluded information” as defined in Section 708A(7) and (8) of the Act in relation to Sheffield.
For further information please contact: Bruce McFadzean Managing Director Tel: 08 6424 8440 Email: [email protected] Website: www.sheffieldresources.com.au
ENDS
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[email protected] T +61 8 6424 8440 F +61 8 9321 1710 Level 2, 41 -47 Colin Street, West Perth WA 6005 PO Box 205, West Perth WA 6872 Sheffield Resources Limited ACN 125 811 083
8 December 2015
ASX AND MEDIA RELEASE
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ABOUT SHEFFIELD RESOURCES
Sheffield Resources Limited (Sheffield) is focused on developing its 100% owned, world class Thunderbird Mineral Sands Project, located near Derby in Western Australia.
| Post Placement:ASX Code:SFXMarket Cap @ 44cps:$66.1m*Issued shares:150.3m*Cash:$10.2m**Assumes settlement of $5m placement (including director participation which is subject to shareholder approval) and$2m SPP as announced 27 Nov 2015 |
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THUNDERBIRD MINERAL SANDS
Thunderbird is one of the largest and highest grade mineral sands discoveries in the last 30 years.
The deposit is rich in zircon, which sets it apart from many of the world’s operating and undeveloped mineral sands projects which are dominated by lower value ilmenite.
Sheffield’s Pre-feasibility study shows Thunderbird is a modest capex project that generates strong cash margins from globally significant levels of production over a 40 year mine life.
The Company is targeting project construction commencing 2017 and initial production in 2019. The initial planned production profile is aligned with expected emerging supply gaps in global mineral sands markets.
NICKEL-COPPER
Sheffield has over 1,900km[2] of 100% owned tenure in the Fraser Range region of Western Australia, including the Red Bull project which is within 20km of the Nova Ni-Cu deposit. The Company is exploring the region for magmatic nickel deposits similar to Nova.
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