Sheffield Resources Limited - February Update 2015

Sheffield Resources remains one of Breakaway’s preferred exposures based on the calibre of the Thunderbird project and the quality of management. Significant positive news flow is expected in the coming weeks as the release of the PFS is likely to outline enhanced economics on an already economically robust project. Sheffield is well on the way to becoming a globally significant mineral sands producer. Sheffield Resources continues to steadily advance its flagship Thunderbird deposit, putting the Company firmly on track to become a Tier 1 mineral sands producer. The 2014 Scoping Study already demonstrated robust project economics; however, following the latest resource upgrade the project economics are expected to be strongly enhanced. Details will be outlined with the release of the PFS, scheduled in the current quarter. Assuming a positive outcome in the PFS, Sheffield will undertake a Definitive Feasibility Study, expected by mid-2016, with first production targeted as early as Q4 2017. Download the full report…