Thunderbird BFS delivers outstanding results
Written on the 30 March 2017
Sheffield Resources Limited ("Sheffield", "the Company") (ASX:SFX) is pleased to report results of the Bankable Feasibility Study (BFS) on its 100% owned Thunderbird Mineral Sands Project (the Project or
The BFS has demonstrated a financially robust and technically strong project, forecast to generate EBITDA of A$5.1 billion over a 42 year mine life.
Sheffield's Managing Director Bruce McFadzean described the outcome of BFS as an outstanding result which highlights Thunderbird's status as a world class mineral sands project.
"The study findings show Thunderbird is a technically low risk project and is anticipated to generate significant and consistent financial returns over an exceptionally long mine life of 42 years," he said.
"Thunderbird is located in one of the most attractive mining investment jurisdictions and is well placed to deliver a long term, secure supply of high quality products to a range of potential customers.
"Completion of the BFS clears the way for delivery of the next major milestones; offtake, permitting and project finance ahead of a targeted construction start in the second half of 2017.
"Offtake discussions are progressing with leading global ilmenite and zircon consumers. There has been strong interest in our high quality suite of products.
"In conjunction with our corporate advisors Azure Capital, we are engaging with both project finance providers and potential strategic partners to arrive at an optimal funding solution."
Sheffield's Thunderbird BFS Technical Report will be available in full HERE.
Read the full release HERE.
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