Sheffield Resources Limited (AU:SFX) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Sheffield Resources Limited is experiencing a surge in production and shipments at its Thunderbird Mineral Sands Mine, with June 2024 seeing approximately 825,000 tonnes of ore mined and an expected 90,000 tonnes of concentrate shipped. The company has outperformed the production rates projected in its 2022 Bankable Feasibility Study, and June is set to mark a record month for product shipments, contributing to a positive outlook for operating cash flow beginning in the September 2024 quarter. Additionally, Sheffield and its joint venture partner, Yansteel, have each injected $7.5 million for working capital to support ongoing operations.
For further insights into AU:SFX stock, check out TipRanks’ Stock Analysis page.
