Sheffield Flags Softer Thunderbird Output but Strong Shipments Amid Zircon Market Headwinds

An update from Sheffield Resources Limited ( (AU:SFX) ) is now available.

Sheffield Resources reported that its Thunderbird Mineral Sands Mine, held through the 50%-owned Kimberley Mineral Sands joint venture, experienced a softer December quarter with ore mined falling 7% and concentrate production down 15% quarter-on-quarter due to lower mining contractor productivity, reduced dozer availability, and seasonal weather, as well as mining of lower-grade ore. Despite challenging conditions in the zircon concentrate market, particularly in China, shipments remained robust at 221,219 tonnes, including the second-highest zircon concentrate sales to date, supported by ongoing prepayment arrangements with Yansteel that are helping short-term working capital and a continuing review of senior secured loan facilities; at the corporate level, Sheffield closed the quarter with A$1.4 million in cash and subsequently boosted liquidity by divesting its Capital Metals shareholding for A$4 million.

The most recent analyst rating on (AU:SFX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Sheffield Resources Limited stock, see the AU:SFX Stock Forecast page.

More about Sheffield Resources Limited

Sheffield Resources Limited is an Australian mineral sands company with a 50% interest in the Kimberley Mineral Sands joint venture, which operates the Thunderbird Mineral Sands Mine in Western Australia. The company produces ilmenite, zircon and leucoxene concentrates, targeting both Chinese and other international customers, and focuses on developing Thunderbird to full production while managing funding and market volatility in the mineral sands sector.

YTD Price Performance: 29.41%

Average Trading Volume: 577,704

Technical Sentiment Signal: Sell

Current Market Cap: A$34.81M

For detailed information about SFX stock, go to TipRanks’ Stock Analysis page.