Sheffield Resources Limited · ASX:SFX
Sheffield Resources — TZMI Congress 2021
26 slides from Sheffield Resources's conference presentation, Nov 10, 2021
Slide 1: TZMI Congress
For personal use only TZMI Congress Bruce Griffin – Executive Chair November 2021
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 For personal use only This document contains summary information about Sheffield Resources Limited (ACN 125 811 083) (Company or Sheffield), its subsidiaries a
Slide 3: Sheffield Resources
Sheffield Resources For personal use only Thunderbird Project Update • Large, high grade reserve in a low risk jurisdiction • Flowsheet and products • Yansteel titanium dioxide project update • Early works • Engineering and BFS • Funding and financials • Timeline to FID and Production Mid West Proje
Slide 4: Thunderbird – Large, high grade ore body in a low risk jurisdiction
Thunderbird – Large, high grade ore body … in a low risk jurisdiction Ore Reserves and Grade for selected mineral sands deposits 1,2,3 For personal use only • Large, mature mineral sands deposits globally typically show accelerating grade depletion trend with each new published Ore Reserve update •
Slide 5: Thunderbird – New concentrate products identified
For personal use only Thunderbird – New concentrate products identified Thickener underflow to mine void Feed Preparation, CUP Finisher Spirals Mining Scrubbing, Screening and Desliming Concentrate CUP Spirals CUP Finisher Upgrade Plant WHIMS Zircon Concentrate Primary Wet Concentration CUP Finisher
Slide 6: Thunderbird – Product Suite
Thunderbird – Product Suite LTR (Low Temperature Roast) Ilmenite (35% of revenue) For personal use only • 530,0001 tonnes per annum in Phase 1 • 50% TiO2 and low in key contaminants • Suitable for chloride slag or sulphate pigment • Binding offtake with Yansteel ‒ Market price, life of mine, take or
Slide 7: Thunderbird – Yansteel Titanium Dioxide Project
Thunderbird – Yansteel Titanium Dioxide Project KMS Joint Venture partner Yansteel facility to consume LTR ilmenite For personal use only • Smelter and chloride pigment plant in China • Plant construction commenced in late 2020 • Civil works were completed in June 2021 • Process equipment and suppor
Slide 8: Thunderbird – Early Works; Road and other infrastructure
For personal use only Thunderbird – Early Works; Road and other infrastructure Utilise 2021 dry season to prepare for process construction at the start of 2022 dry season • Mine access road ‒ Upgrade first 18km ‒ Build remaining 12km • Process plant site ‒ Clearing underway • Construction water ‒ Dr
Slide 9: Thunderbird – Early Works; Trial Mining
Thunderbird – Early Works; Trial Mining Second mining trial confirmed preferred mining method For personal use only • D11 dozer trialled vs D9 dozer in Trial 1 • Continuous miner also trialled • Dozer mining (D11) confirmed as preferred mining method • Samples taken to finalise in-pit separation and
Slide 10: Thunderbird – Early Works; Engineering and Long lead items
For personal use only Thunderbird – Early Works; Engineering and Long lead items Engineering to EPC standard except LTR • Simplified LTR to be at EPC level early in 2022 Critical path long lead items to maintain 2024 production start • Tenders received • First packages (Spirals and WHIMS) targeted f
Slide 11: Thunderbird – BFS Activities
For personal use only Thunderbird – BFS Activities BFS to finalise capital and operating cost estimates • Cost inflation pressure – affecting all capital projects in Western Australia • Offset by change in scope; net reduction from removing zircon MSP, adding simplified LTR • Focus on capital minimi
Slide 12: Thunderbird – Project Funding and Financials
Thunderbird – Project Funding and Financials Project Funding For personal use only • Kimberley Mineral Sands cash A$119.7m at 30 September 2021 • Sheffield Resources to contribute A$10m to Kimberley Mineral Sands 60 days after FID • Progressing NAIF loan facility (not infrastructure specific)1 • Bal
Slide 13: Thunderbird – Pathway to FID, Construction and Production
Thunderbird – Pathway to FID, Construction and Production Kimberley Wet Season For personal use only Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2-Q4 2022 2023 2024 Mar 2021: Feb 2022: KMS Formed BFS Completed FID DFS Construction 2nd Mining Trial Production Pre FID Site Works Detailed Engineering Long
Slide 14: Mid West Project
Mid West Project Eneabba (Sheffield – 100%) For personal use only • Mineral Resource 211.4 million tonnes @ 3.0% HM containing 5.1 million tonnes of VHM • 11 deposits, 140 km southeast of Geraldton • 2021 scoping study update indicated 26 year, 190,000 tpa HMC as the preferred development concept •
Slide 15: Our ESG Approach
For personal use only Our ESG Approach Environmental Social Full State and Federal environmental approvals granted following a detailed Public Co-existence Agreement (Native Title Agreement) in place Environmental Review ("PER") process Targeted 40% Aboriginal Employment by year 8 of operations
Slide 16: Thank You
THANK YOU Registered and Corporate Office For personal use only Sheffield Resources Limited Level 2 41–47 Colin Street West Perth WA 6005 p. +61 8 6555 8777 e. info@sheffieldresources.com.au 16
Slide 17: APPENDIX: Sheffield Resources Corporate Overview
APPENDIX: Sheffield Resources Corporate Overview Sheffield Resources is an ASX listed mineral sands developer which owns 50% of the large For personal use only scale shovel ready Thunderbird Mineral Sands Project Capital structure1 • Sheffield Resources Limited (“Sheffield” or the “Company”) is an A
Slide 18: APPENDIX: Kimberley Mineral Sands
APPENDIX: Kimberley Mineral Sands For personal use only Kimberley Mineral Sands1 • Owns 100% of the Thunderbird Project YGH Australia 9.9% Sheffield Resources • Yansteel (via YGH Australia) contributed A$130.1m in equity to acquire 50% Investment Limited Limited • Sheffield retains 50% 50% 50% • Fou
Slide 19: APPENDIX: Thunderbird Ore Reserves
APPENDIX: Thunderbird Ore Reserves Thunderbird Ore Reserves: Valuable Heavy Mineral in-situ grade1 For personal use only Valuable Heavy Mineral Grade (In-situ)2 In-situ HM Ore Reserve Ore Tonnes Tonnes HM Grade Zircon HiTi Leucoxene Leucoxene Ilmenite Oversize Slimes Category (Mt) (Mt) (%) (%) (%) (
Slide 20: APPENDIX: Thunderbird Mineral Resources
APPENDIX: Thunderbird Mineral Resources Thunderbird Mineral Resources: Valuable Heavy Mineral in-situ grade1 For personal use only In-situ HM Valuable Heavy Mineral Grade (In-situ)3 2 Cut-off Mineral Resource Ore Tonnes Tonnes HM Grade Zircon HiTi Leucoxene Leucoxene Ilmenite Slimes Oversize (HM%) C
Slide 21: APPENDIX: Significant Regional Exploration Upside
APPENDIX: Significant Regional Exploration Upside Strategic value demonstrated through multiple discoveries made along a 120km long trend For personal use only • Exploration has delineated 12 zones of significant mineralisation along a 120km long highly mineralised trend which extends from Cisco in
Slide 22: Appendix ESG: Environment
Appendix ESG: Environment All necessary State and Federal environmental approvals received For personal use only • Strong social licence to operate is supported by full State and Federal environmental approvals following an extensive Public Environmental Review ("PER") • The PER process required ful
Slide 23: Appendix ESG: Environment – Continuous Rehabilitation
Appendix ESG: Environment Continuous Rehabilitation For personal use only • Proposed dry mining via conventional dozer trap mineral sand mining • Topsoil and overburden excavated and transported using truck and excavators • Topsoil is deposited and seeded following completion of mining within each z
Slide 24: Appendix ESG: Embracing the Climate Change challenge
Appendix ESG: Environment Embracing the Climate Change challenge For personal use only Energy Consumption: % CO2 Emissions* • CO2 baseline Scope 1 emissions estimated: 11mt CO2e (40+ year life of project)* CO2 reduction opportunities across a 37 year mine life 8 23 Introduction of renewable electr
Slide 25: Appendix ESG: Our Community Stakeholders
Appendix ESG: Our Community Stakeholders Actively working with community stakeholders to create and maintain a robust relationship For personal use only • Central to the Kimberley regional strategy is our social licence to operate ("SLTO") ̶ Built over ten years and based on formal and informal comm
Slide 26: Appendix ESG: Our Commitment to Traditional Owners
Appendix ESG: Our Commitment to Traditional Owners Native Title agreement signed and is irrevocably binding on both the Company and the Traditional Owners For personal use only • Signed the Co-existence Agreement (Native Title Agreement) for Thunderbird on 31 October 2018 • The Traditional Owners au