AI assistant
Sheffield Resources Ltd. — Capital/Financing Update 2015
May 6, 2015
44780_rns_2015-05-06_36bd5902-7089-484f-83cc-3f14cf696606.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [102 x 66] intentionally omitted <==
ASX and Media Release
7 May 2015
SALE OF OXLEY POTASH PROJECT GOES UNCONDITIONAL
Sheffield Resources (“Sheffield”) (ASX:SFX) today announced that it has received confirmation that the conditions precedent to the sale of the Oxley Potash Project have been satisfied and the transaction will now proceed to completion.
As announced on 9 March 2015, Centrex Metals Limited (ASX:CXM) has agreed to purchase the tenements that comprise the Oxley Potash Project for a cash consideration of $2.5 million.
On completion, Sheffield will have a strong cash position of $6.5 million. These funds will be applied principally to advance the world class Thunderbird mineral sands and Fraser Range nickel projects.
Sheffield is pleased to advise shareholders that the Thunderbird prefeasibility study is nearing completion with results expected to be released next week.
ENDS
For further information please contact:
Bruce McQuitty Managing Director Tel: 08 6424 8440 [email protected]
Media: Luke Forrestal Cannings Purple Tel: 08 6314 6300 [email protected]
Website: www.sheffieldresources.com.au
Sheffield Resources Ltd ACN 125 811 083 L1, 57 Havelock Street West Perth WA 6005 T: +61(0) 8 6424 8440 F: +61(0) 8 9321 1710
2
ABOUT SHEFFIELD RESOURCES
Sheffield Resources Limited ( Sheffield ) is a rapidly emerging heavy mineral sands (HMS) company.
| ASX Code: | SFX | Market Cap @ 73cps | $98.1m |
|---|---|---|---|
| Issued shares: | 134.4m | Cash: $6.5m* |
*includes completion payment of $1.5 million from sale of Oxley Potash tenements
Sheffield’s projects are all situated within the state of Western Australia and are 100% owned by the Company.
HEAVY MINERAL SANDS
The Dampier project, located near Derby in WA’s northwest, contains the large, high grade zircon-rich Thunderbird HMS deposit. Sheffield is currently undertaking a pre-feasibility study on Thunderbird.
The Eneabba project comprises multiple HMS deposits and is located near Eneabba approximately 140km south of the port of Geraldton in WA’s Mid-West region.
Sheffield is also evaluating the large McCalls chloride ilmenite project, located 110km to the north of Perth.
NICKEL-COPPER
Sheffield has over 2,000km[2] of tenure in the Fraser Range region, including the Red Bull project which is within 20km of Sirius Resources NL’s (ASX:SIR) Nova Ni-Cu deposit.