SHEFFIELD TO RAISE $32 MILLION THROUGH PLACEMENT AND UNDERWRITTEN SHARE PURCHASE PLAN

Written on the 27 October 2017

SHEFFIELD TO RAISE $32 MILLION THROUGH PLACEMENT AND UNDERWRITTEN SHARE PURCHASE PLAN

Sheffield Resources Limited ("Sheffield" "the Company") (ASX: SFX) is pleased to announce it has received commitments to raise $30 million (before costs), through a placement of 42,857,143 million fully paid ordinary shares at an issue price of $0.70 per share ("the Placement"), to continue the development of the world-class Thunderbird Mineral Sands Project ("Thunderbird Project").

Following a significant over subscription and scale back, the Company has welcomed a number of new institutional investors through the Placement. The Placement price represents a 9.3% discount to the 15 day volume weighted average price of Sheffield shares up to and including Friday, 20 October 2017.
The Company will also undertake a Share Purchase Plan ("SPP") to existing shareholders, to raise an additional $2 million (before costs) at the same price of $0.70, which will be fully underwritten.

Proceeds of the Placement and SPP will be used to continue the development of the Thunderbird Project. This will include commencement of early works construction and engineering activity, procurement of long lead items, finalising offtake and financing arrangements and continue with Aboriginal employee training and work ready preparedness, as well as working capital and general corporate purposes.

Read the full release here...


Upcoming Events

Latest news

Matso's Acquired by Gage Roads Brewing

The Peirson-Jones family are delighted to announce that we have agreed to sell Matso's Broome Brewery (Matso's) to Gage Roads Brewing Co (ASX:GRB), one of Australia's leading independent craft brewers. The agreement will see the Matso's range become an integral part of Gage Roads' portfolio of well-known craft beers an...

Read More

Articles via RSS rss

Sign Up for the latest news & events

Does your business attract, recruit and retain staff by offering employment or work experience to young Aboriginal employees?
CLICK HERE to become a Working Together Employer of Choice.

 

Members

We are located at:

6 Napier Tce
(behind the Westpac bank)
Broome
WA 6725

Chamber office hours

Monday: 10am - 3pm
Tuesday: 10am - 2pm
Wednesday: 10am - 3pm
Thursday: 10am - 2pm
Friday: 10am - 2pm

Please ring for an appointment

Phone

(08) 9193 5553

After Hours

0410 967 509