Sheffield Resources reports strong operational performance and progress on South Atlantic Project

Sheffield Resources Limited (ASX: $SFX) has reported its quarterly activities for the period ended 31 March 2024. The company achieved significant milestones with the shipment of zircon and ilmenite concentrates from the Thunderbird Mineral Sands Mine, while also making progress on the South Atlantic Project. The company's cash balance stood at $20.4 million as of 31 March 2024.

Executive Commentary on Quarterly Activities

The company's Executive Chair, Mr Bruce Griffin, highlighted the successful commencement of product shipment from the Thunderbird Mineral Sands Mine, with strong operational safety performance and continued improvement in mining and processing performance. Mr Griffin also emphasized the progress made on the South Atlantic Project, including the commencement of a drilling program and the acquisition of an interest in Capital Metals Plc. He further noted the company's cash balance and the upcoming investor and shareholder webinar scheduled for 30 April 2024.

Summary of Quarterly Activities and Outlook

Sheffield Resources achieved significant milestones in the quarter with the commencement of product shipment from the Thunderbird Mineral Sands Mine, demonstrating strong operational safety performance and continued improvement in mining and processing performance. The company also made progress on the South Atlantic Project, including the commencement of a drilling program and the acquisition of an interest in Capital Metals Plc. With a cash balance of $20.4 million, Sheffield Resources is well-positioned to advance its corporate strategy and continue the development of its mineral sands interests. The company's outlook remains positive as it aims to provide production and operating cost guidance for the Thunderbird mine once operations reach steady state, with such guidance expected no earlier than during the 2025 financial year.