Sheffield Resources Extends Option on South Atlantic Project

Sheffield Resources Limited (AU:SFX) has released an update.

Sheffield Resources Limited has secured an extension on their option to acquire a 20% interest in Rio Grande Mineração S/A, owner of the South Atlantic Project in Brazil, with the total potential investment now spread over a longer time frame, until August 2025. Sheffield is committed to funding project-related activities with a contribution of up to $1.5 million from mid-2025, using existing cash reserves. The revised option agreement extends the initial term and conditions for Sheffield’s staged payments towards the $15 million total investment required for the 20% stake.

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