Sheffield Resources Limited · ASX:SFX
Sheffield Resources — Informa Mineral Sands Conference 2017
23 slides from Sheffield Resources's conference presentation, Mar 16, 2017
Slide 1: Thunderbird: The Emerging Force in Mineral Sands
For personal use only Thunderbird The Emerging Force in Mineral Sands Informa Mineral Sands Conference Presentation March 2017 ASX : SFX 1
Slide 2: Disclaimer
DISCLAIMER PREVIOUSLY REPORTED INFORMATION For personal use only This presentation includes information that relates to Exploration Results, Exploration Targets, Mineral Resources, Ore Reserves, a Pre-feasibility Study and Technical Studies which were prepared and first disclosed under the JORC Code
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT For personal use only ASX ISSUED SHARE SHARE PRICE MARKET CASH ENTERPRISE TOP TWENTY CODE SHARES OPTIONS (15 Mar 2017) CAP (UNAUDITED)1 VALUE SHAREHOLDERS2 SFX 181.0M 16.1M2 A$0.58 A$106M A$11.7M A$94.3M ~50% 12 Month Share Price $0.90 $0.80 $0.70 $0.60 $0.50 $0.40 13% Directors $
Slide 4: Our Team – Experienced & Skilled
OUR TEAM – EXPERIENCED & SKILLED For personal use only BOARD MANAGEMENT Mining Engineer with over 35 years experience leading the financing, development and operation of mines in Australia and overseas, including roles with BHP Billiton and Rio Tinto. Previously Will Burbury Bruce McFadzean Managing
Slide 5: Thunderbird - Discovery to Production
THUNDERBIRD - DISCOVERY TO PRODUCTION Sheffield ASX listed December For personal use only 2010 (ASX:SFX) Initial drill hole to BFS in 4 Years Lead Agency status with Department of Mines and Petroleum Targeting first production from Thunderbird early 2019 Potential multi-decade (+40 year) o
Slide 6: Thunderbird Tier Project
THUNDERBIRD TIER 1 PROJECT 5.00 For personal useTiOonly Grade Fairbreeze (TROX) In Situ Titanium Minerals (Ilm+Lux+Rut) % Namakwa (TROX) 4.00 2 QMM (RIO) THUNDERBIRD (SFX) Cataby (ILU) Kwale (BSE) Moma (KMR) 3.00 Dongara (TROX) Richards Bay (RIO) Cyclone (DRX) 2.00 Sierra Rutile Keysbrook (MZI) (ILU
Slide 7: Tier Asset - High Grades + Year Life
TIER 1 ASSET - HIGH GRADES + 40 YEAR LIFE For personal use only • The largest zircon rich deposits to be discovered in the last 30 years o Significantly higher grades than its peers (Richards Bay, Namakwa, Moma, Cataby) o 3-4 times larger than Iluka’s Jacinth-Ambrosia discovery in 20041 o Targeted 4
Slide 8: Market Conditions Have Turned
MARKET CONDITIONS HAVE TURNED1 For personal use only Zircon Price - Actual & Consensus Ilmenite Price - Actual & Consensus $1,400 $250 $1,200 $200 $1,000 US$/tonne US$/tonne $150 $800 $600 $100 $400 $50 $200 $- $- 2014 2015 2016 H1 2016 H2 2017 H1 2017 H2 2018 2019 2020 2014 2015 2016 H1 2016 H2 201
Slide 9: Transport Advantage to Asian Markets
TRANSPORT KEY TARGETSADVANTAGE TO ASIAN MARKETS For personal use only 9
Slide 10: BFS Status – 97% Complete
BFS STATUS – 97% COMPLETE KEY TARGETS For personal use only KEY DELIVERABLES TIER 1 STUDY • BFS Completion Q1 2017 Study Manager • 7.5-10.0 Mt phase 1 capacity with doubling of capacity in phase 2 Mineral Sands • ~780t/hr constant feed rate at rougher Processing Specialist spiral • Metallurgical tes
Slide 11: VHM & Deposit Thickness = Value
VHM & DEPOSIT THICKNESS = VALUE • Thunderbird has a continuous For personal use only High Grade Zone of up to 46m thickness: the “GT Zone” • Deposit economics are based on GT Zone’s strong continuity and very high Valuable HM grades • Near-surface, high value areas targeted in early years of product
Slide 12: Exceptional Grade, Continuity & Low Strip
EXCEPTIONAL GRADE, CONTINUITY & LOW STRIP For personal use only • GT Zone has excellent continuity of: o High grades o Thickness o Sharply defined boundaries • Consistent high-grade feed to WCP and a flexible mine path • Very low strip ratio (<0.8:1:0) targeted over LOM NB - See previous slide for s
Slide 13: Test Pits Support Dozer Trap Mining
TEST PITS SUPPORT DOZER TRAP MINING • Three trenches excavated in up-dip region of the For personal use only deposit confirmed dozer-trap mining as preferred mining method • D10 dozer achieved sound productivity rates. • Ore performed well through screening plant • Exposed orebody comprised highly w
Slide 14: Conventional Processing
CONVENTIONAL PROCESSING • Conventional heavy mineral sands For personal use only DELIVERS FIVE QUALITY PRODUCTS processing circuit1 • Includes an ilmenite upgrade step using a low temperature roast (“LTR”) • LTR upgrades the primary ilmenite to 56.1% TiO2 sulphate ilmenite with ability to control to
Slide 15: Thunderbird LTR Ilmenite – Premium Product
THUNDERBIRD LTR ILMENITE – PREMIUM PRODUCT • Exceptional Grade For personal use only Global Ilmenite Comparison FeO:Fe2O3 Ratio • 56 – 58% TiO2 3.0 • Outstanding FeO:Fe2O3 2.5 • Low Fe2O3 (<13%) 2.0 • Low Levels of Cr2O3 1.5 • Low Alkalis 1.0 • High Acid Solubility 0.5 • Good reactivity rate 0.0 Thu
Slide 16: Thunderbird Zircon – Premium Product
THUNDERBIRD ZIRCON – PREMIUM PRODUCT For personal use only • Ceramic Grade Zircon • > 66% ZrO2 • Low Fe2O3 • Low TiO2 • Very Low Al2O3 • Moderate U+Th • Good Opacity • Off-take Discussions in Progress Composition (%) Premium Zircon Typical1 ZrO2+HfO2 % 66.2 – 66.6 Raw Ilmenite 66.30 TiO2 % 0.09 – 0.
Slide 17: Logistics – Simple & Close to Market
LOGISTICS – SIMPLE & CLOSE TO MARKET For personal use only • Products trucked 140km from mine to ports at Derby and Broome, including 110km on major National Highway • Road haulage fleet and marine barging based in Derby • Access agreement in place for port storage, wharf and bulk handling facility
Slide 18: Regional Exploration Potential
REGIONAL EXPLORATION POTENTIAL For personal use only NEW PROVINCE – MULTIPLE DISCOVERIES Bells Tower Seagull • Limited scout drilling has lead to new discoveries including the zircon-rich Night Country Downs Train prospect, e.g. 7.5m @ 8.23% HM1 Thunderbird • Night Train has a high value mineral ass
Slide 19: Social Licence - A Project for the Community
SOCIAL LICENCE - A PROJECT FOR THE COMMUNITY • Lead Agency status promotes state and regional project support For personal use only • In excess of 140 direct full time jobs from the regional community. Substantially more employment via indirect support for the operations • All employees living local
Slide 20: Thunderbird Key Targets & Next Steps
THUNDERBIRD KEY TARGETS & NEXT STEPS1 • BFS – announce Q1 2017 For personal use only • Native Title Agreement H1 2017 • Environmental permitting Mid 2017 • Off-take discussions 2017 • Funding process 2017 • Exploration drilling 2017 • Funding partner discussions 2017 • Preliminary construction comme
Slide 21: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS • Tier 1, high grade, large scale mineral sands project For personal use only • Stable mining jurisdiction • High grades and quality products • Zircon and ilmenite rich • Well advanced asset – BFS 97% complete • Utilises conventional mining and processing methods • Technica
Slide 22: Appendix: Thunderbird Deposit Ore Reserves
APPENDIX 1 THUNDERBIRD DEPOSIT ORE RESERVES1,2 For personal use only Valuable Heavy Mineral (VHM) in-situ grade In-situ HM Valuable HM Grade (In-situ)2 Ore Reserve Ore Tonnes HM Grade Slimes Osize Tonnes Zircon HiTi Leuc Leuc Ilmenite Category (millions) (%) (%) (%) (millions) % % % % Proved 235.8 3
Slide 23: Appendix: Thunderbird Deposit Mineral Resource
APPENDIX 1 THUNDERBIRD DEPOSIT MINERAL RESOURCE1,2 Valuable HM Grade (In-situ)3 For personal use only Mineral Material In-situ HM Cut-off HM Grade Slimes Osize Resource Tonnes Tonnes Zircon HiTi Leuc Leuc Ilmenite (HM%) (%) (%) (%) Category (millions) (millions) (%) (%) (%) (%) Measured 510 45 8.9 0
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