InvestSMART

Sheffield Resources Limited (ASX:SFX)

ALERT: Price-sensitive ASX Announcement for SFX
Current share price for SFX : $0.048 0.003 (6.67%)+
Announcement
Release
3 Jun 2026 8:17AM
Price at Release
$0.045
Full Release
download
Summary
Sheffield Resources Limited provided an update on the Thunderbird Mineral Sands Mine operations in Western Australia, managed by Kimberley Mineral Sands Pty Ltd, a joint venture with Yansteel. In May 2026, ore mining and product recoveries notably improved, with substantial increases in ilmenite and zircon concentrate production compared to previous months. The company is implementing operational improvements, although ongoing debt restructuring discussions with financial partners pose uncertainties. Despite halting HiTi concentrate production due to weak market demand, the company has successfully shipped substantial quantities of ilmenite and zircon concentrates. The executive chair, Mr. Bruce Griffin, remarked on the positive impact of operational changes, with expectations for further improvements.
Key Points
  • Significant improvement in ore mining and product recovery in May 2026.
  • May production included over 1 Mt of ore with 60,000 tonnes of ilmenite and 16,500 tonnes of zircon concentrates.
  • HiTi concentrate production stopped due to weak demand.
  • 88,000 tonnes of ilmenite, 19,000 tonnes of zircon, and 43,000 tonnes of HiTi concentrate shipped in April and May.
  • Ongoing debt restructuring discussions with Sheng Feng and NAIF.
  • Sheffield and YGH continue as sponsors and guarantors for loan facilities.
  • Positive operational impact from changes implemented by KMS.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.