Sheffield Resources Limited · ASX:SFX
Sheffield Resources — Shareholder Meeting (December 2020)
14 slides from Sheffield Resources's shareholder meeting presentation, Dec 15, 2020
Slide 1: Welcome – 2020 Annual General Meeting
For personal use only Welcome 2020 Annual General Meeting 15 December 2020
Slide 2: Thunderbird – From JV to FID: Shareholder Presentation
For personal use only Thunderbird – From JV to FID Shareholder Presentation 15 December 2020
Slide 3: Notice and Disclaimer
Notice and Disclaimer For personal use only 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 a
Slide 4: Notice and Disclaimer
Notice and Disclaimer For personal use only Not financial product advice This document does not constitute, and is not intended to constitute, investment or financial product advice (nor tax, accounting or legal advice). This document should not be relied upon as advice to investors or potential inv
Slide 5: Thunderbird – From JV to FID
For personal use only Thunderbird – From JV to FID Yansteel Joint Venture Project Update Market Opportunity Pathway to FID 5
Slide 6: Yansteel Joint Venture
For personal use only Yansteel Joint Venture Thunderbird Joint Venture • Non-binding term sheet signed in August 20201 • 50/50 joint venture with Yansteel for the Thunderbird Project • Yansteel to contribute A$130.1m in equity to acquire its 50% interest • Formal Joint Venture Agreements on track fo
Slide 7: Thunderbird – Simplified flowsheet
For personal use only Thunderbird – Simplified flowsheet1 Flow sheet agreed within Joint Venture Term Sheet Non-mag concentrate • Removes zircon MSP from BFS and BFSU LTR Ilmenite • Ilmenite circuit from BFS flowsheet (excluding IDP) 1. Expected flowsheet pre-BFS JV completion 7
Slide 8: Thunderbird – Yansteel equity to fill funding gap
Thunderbird – Yansteel equity to fill funding gap Process capital expected to be lower with simplified flowsheet For personal use only + Cost of reintroduction of LTR off set by - Simplified ilmenite circuit - Removal of zircon MSP JV BFS will update project capital and operating costs (including no
Slide 9: Thunderbird – Attractive product mix
For personal use only Thunderbird – Attractive product mix • LTR Ilmenite % Revenue1,2 − 315,000 tonnes per annum in Phase 1 − Suitable for TiO2 slag or sulphate pigment feedstock − 53% TiO2 and low in key contaminants − 100% binding offtake with Yansteel • Non-Magnetic Concentrate Non-Mag 65% − 200
Slide 10: Thunderbird – Aligned with emerging zircon supply gap
Thunderbird – Aligned with emerging zircon supply gap Zircon supply gap forecast from 2021/22 onwards For personal use only Covid-19 Observations • Covid-19 impacted demand significantly during 2020 • Major suppliers have adjusted 2020 supply to match reduced demand • This supply response eased the
Slide 11: Thunderbird – New ilmenite supply is required
Thunderbird – New ilmenite supply is required New non-captive projects need to meet non-captive demand For personal use only Covid-19 Observations • Sulfate ilmenite demand remains strong – recent updates suggest stronger than forecast demand post COVID • Sulfate pigment provides solid demand base •
Slide 12: Pathway from Joint Venture to FID
For personal use only Pathway from Joint Venture to FID Q3 2020 Q4 2020 Q1 2021 Q2 2021 Aug 2020: Non Binding JV Term Sheet and Ilmenite Offtake JV Formed FID FIRB Application Application submitted Approval expected JV Documentation Draft Execute Early Works Program Early Works Program Update engine
Slide 13: Summary
Summary • Yansteel Joint Venture Agreements on track for execution in Q4 For personal use only • FIRB application submitted in August • Thunderbird targeted to be a large, long life zircon/ilmenite producer • Overall project capital is expected to be similar to the BFSU • Yansteel project equity + r
Slide 14: Thank You
THANK YOU For personal use only Registered and Corporate Office Sheffield Resources Ltd Level 2 41–47 Colin Street West Perth WA 6005 p. +61 8 6555 8777 e. info@sheffieldresources.com.au 14
Sheffield Resources — Shareholder Meeting (December 2020) on 6ix