Sheffield Resources Limited · ASX:SFX
Sheffield Resources — Shareholder Meeting (November 2022)
20 slides from Sheffield Resources's shareholder meeting presentation, Nov 22, 2022
Slide 1: Annual General Meeting
ANNUAL GENERAL For personal use only MEETING T HUN DE RBI RD I S GO BRUCE GRIFFIN EXECUTIVE CHAIR November 2022 ASX: SFX www.sheffieldresources.com.au
Slide 2: Notice and Disclaimer
NOTICE AND DISCLAIMER IMPORTANT: You must read the following in conjunction with this document. Summary information in relation to Sheffield This document contains summary information about Sheffield Resources Limited (ACN 125 811 083) (Company or Sheffield), its subsidiaries and their activities wh
Slide 3: Thunderbird Mineral Sands Project
THUNDERBIRD MINERAL SANDS PROJECT For personal use only • 50/50 JV with Yansteel • World’s largest high grade zircon reserve, in a low risk jurisdiction • Stage 1 Production targeting 1.1mt of zircon and ilmenite rich concentrates1 • Offtake agreements in place for ~80% of Stage 1 revenue for first
Slide 4: Compelling Economics for Stage 1 Standalone and Stage 1&2
COMPELLING ECONOMICS FOR STAGE 1 STANDALONE AND STAGE 1&2 For personal use only Metric Stage 1 & 21 Stage 1 $1,020M $1,085M $1,000M NPV8 post-tax A$1.39B A$842m $966M $897M IRR post-tax 26.6% 26.6% $828M $771M $742M Revenue to Cost Ratio (first 10 yrs) 2.5 2.3 $842M $654M $640M Project Capital A$379
Slide 5: Kimberley Mineral Sands - Shareholder Distribution (Stage 1 Only)
KIMBERLEY MINERAL SANDS - SHAREHOLDER DISTRIBUTION (STAGE 1 ONLY ) • Cash distributions to KMS shareholders forecast to commence in FY2026 For personal use only • 100% of debt forecast to be repaid during FY2027 200 150 100 50 0 A$m (50) DEBT DRAWDOWN/REPAYMENT EQUITY CONTRIBUTION/DISTRIBUTIONS (100
Slide 6: Deep Discount to Asset Value
DEEP DISCOUNT TO ASSET VALUE For personal use only >70% discount to Sheffield NPV share of Stage 1&2 and NPV of forecast Sheffield cash dividends from KMS >50% discount to Stage 1 NPV share despite: peaks at $1.2B from 2028 to 2031 and remains above • Low risk jurisdiction $0.5B until 2048 • ~12 mon
Slide 7: Dry Season – Road, Village Process Site Clearing
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE D RY S E A S O N 2 0 21 – R OA D , V I L L AG E A N D P R O C E S S S I T E C L E A R I N G For personal use only Thunderbird Access Road Thunderbird Accommodation Village Sheffield Resources Limited I ASX: SFX I Developing one of the largest Zircon project
Slide 8: April – Village EPC Contractor Mobilised to Site
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE A P R I L 2 0 2 2 – V I L L AG E A N D E P C C O N T R AC T O R M O B I L I S E D T O S I T E For personal use only Thunderbird Process Plant Foundation Preparation Thunderbird Accommodation Village Sheffield Resources Limited I ASX: SFX I Developing one of
Slide 9: May – Plant Earthworks, Village
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE M AY 2 0 2 2 – P R O C E S S P L A N T E A R T H WO R K S A N D V I L L AG E For personal use only Thunderbird Process Plant Earthworks Thunderbird Accommodation Village Sheffield Resources Limited I ASX: SFX I Developing one of the largest Zircon projects
Slide 10: June – Plant Concrete Foundations
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE J U N E 2 0 2 2 – P R O C E S S P L A N T C O N C R E T E FO U N DAT I O N S For personal use only Thunderbird Concrete Batch Plant and Process Plant Site Thunderbird WCP Concrete Works Sheffield Resources Limited I ASX: SFX I Developing one of the largest
Slide 11: July – Plant, Borefield, Tailings Storage Facility
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE J U LY 2 0 2 2 – P R O C E S S P L A N T, B O R E F I E L D A N D TA I L I N G S S T O R AG E FAC I L I T Y ( T S F ) For personal use only Thunderbird Process Plant Concrete Works Clearing of Thunderbird TSF Sheffield Resources Limited I ASX: SFX I Develop
Slide 12: August – Plant, Borefield, TSF
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE AU G U S T 2 0 2 2 – P R O C E S S P L A N T, B O R E F I E L D A N D T S F For personal use only Thunderbird Process Plant Thunderbird Borefield Sheffield Resources Limited I ASX: SFX I Developing one of the largest Zircon projects globally 12
Slide 13: September – Plant, Power/LNG, TSF
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE S E P T E M B E R 2 0 2 2 – P R O C E S S P L A N T, P O W E R / L N G , A N D T S F For personal use only Thunderbird Process Plant Thunderbird LNG and Power Station Pads Sheffield Resources Limited I ASX: SFX I Developing one of the largest Zircon project
Slide 14: October – Plant, Power/LNG, TSF
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE O C T O B E R 2 0 2 2 – P R O C E S S P L A N T, P O W E R / L N G , A N D T S F For personal use only Thunderbird Process Plant Thunderbird TSF Sheffield Resources Limited I ASX: SFX I Developing one of the largest Zircon projects globally 14
Slide 15: November – Plant, Long Lead Items on Site, TSF
THUNDERBIRD CONSTRUCTION OVER 50% COMPLETE N OV E M B E R 2 0 2 2 – P R O C E S S P L A N T, LO N G L E A D I T E M S O N S I T E , T S F For personal use only Thunderbird Process Plant Steel Structure Installation Thunderbird Plant Spirals on site Sheffield Resources Limited I ASX: SFX I Developing
Slide 16: Leveraging Yansteel Downstream Capability
LEVERAGING YANSTEEL DOWNSTREAM CAPABILIT Y • Thunderbird is a 50/50 JV with Yansteel, part of Tangshan Yanshan Iron & Steel, a privately owned Chinese steel manufacturer For personal use only • Construction of Yansteel's vertically integrated smelter/pigment complex in China completed • Section by s
Slide 17: First Products Shipped in Q1 2024
FIRST PRODUCTS SHIPPED IN Q1 2024 For personal use only Q2 2022 Q3 2022 Q4 2022 2023 2024 FINAL FIRST INVESTMENT PRODUCT DECISION SHIPMENT Secure NAIF and Orion Debt Facilities Document and CP’s Pre FID Construction Construction Commission Production Major Contracts underway WCP Start-up EPC Contrac
Slide 18: Our ESG Approach
OUR ESG APPROACH Environmental For personal use only ➢ Full State and Federal environmental approvals granted following a detailed Public Environmental Review ("PER") process ➢ Rehabilitation throughout mine life – minimises disturbed area ➢ Environmental practices & protocols mirror Equator Princip
Slide 19: Sheffield Resources
SHEFFIELD RESOURCES For personal use only • 50/50 JV with Yansteel • World’s largest high grade zircon reserve, in a low risk jurisdiction • Stage 1 Production targeting 1.1mt of zircon and ilmenite rich concentrates1 • Offtake agreements in place for ~80% of Stage 1 revenue for first 5 years • Yans
Slide 20: Thank You
For personal use only THANKYOU Registered and Corporate Office Sheffield Resources Limited Level 2, 41-47 Colin Street West Perth WA 6005 +61 8 6555 8777 info@sheffieldresources.com ASX: SFX www.sheffieldresources.com.au
Sheffield Resources — Shareholder Meeting (November 2022) on 6ix