AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Sheffield Resources Ltd. Capital/Financing Update 2015

Aug 12, 2015

44780_rns_2015-08-12_59774373-c92c-4891-8cec-d45d4f7f2766.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

==> picture [102 x 66] intentionally omitted <==

ASX and Media Release

13 August 2015

SALE OF PILBARA IRON TENEMENTS

Sheffield Resources (“Sheffield”) (ASX:SFX) today announced that it has entered into an unconditional agreement with Atlas Iron Limited (ASX:AGO) to sell its 100% interests in E45/4029, E45/3662 and E45/3822.

The sale tenements are located near Atlas Iron’s Abydos and Mt Webber iron ore operations.

The sale consideration is $150,000 payable in Atlas Iron shares based on a 15% discount to their 5 day VWAP. The consideration shares will not be tradeable by Sheffield for a period of up to 12 months, in accordance with Corporations Law requirements.

The sale of these iron tenements is consistent with the Company’s strategy of unlocking value from non-core assets while focusing on the Company’s flagship Thunderbird HMS Project. ENDS

For further information, please contact: Will Burbury Chairman 08 6424 8440

Sheffield Resources Ltd ACN 125 811 083