Sheffield Resources - Quarterly Activities Report

Sheffield Resources - Quarterly Activities Report

Sheffield Resources (ASX:SFX) has released its September quarterly report detailing progress with its Thunderbird Mineral Sands Project near Derby in Western Australia's north. The quarterly shows the Company finished the quarter with $16 million in cash, enough to complete the Thunderbird Bankable Feasibility Study and continue exploration in the region. Sheffield also reported that discussions have begun with potential customers and a number of product samples have been dispatched.


HIGHLIGHTS

Thunderbird Mineral Sands Project

  • BFS metallurgical test work complete
  • Confirms pre-feasibility processing flowsheet using full-scale equipment
  • High grade ilmenite produced by low temperature roasting - 56.1% TiO2
  • Zircon is premium grade suited to the ceramics sector - 66.3% ZrO2
  • Marketing samples dispatched and off-take discussions commenced
  • Recoveries improved for all key products
  • BFS engineering design well underway
  • Community and stakeholder engagement continues in Kimberley region

Corporate Activities

  • Cash position of A$16.0 million as at 30 September 2016
  • Completion of share placement, raising $17.1m (before costs)
  • Engagement with potential customers has commenced
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