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BRIEF-Sheffield Resources Signs JV Deal For Thunderbird Mineral Sands Project

Published 06/01/2021, 07:29 pm
Updated 06/01/2021, 07:30 pm

Jan 6 (Reuters) - Sheffield Resources Ltd SFX.AX :

* CO AND YANSTEEL EXECUTE BINDING DEFINITIVE DOCUMENTS TO FORM 50:50 JV ON THUNDERBIRD MINERAL SANDS PROJECT

* FORMATION OF JV INCLUDES PAYMENT OF A$130.1 MILLION BY YANSTEEL TO ACQUIRE 50% OF PROJECT

* EXPECTED FINAL INVESTMENT DECISION ON PROJECT DURING 2021

* CO & TAURUS FUNDS MANAGEMENT TO TERMINATE EXISTING FINANCING AGREEMENTS; TO WORK WITH JV TOWARDS NEW FINANCING AGREEMENTS

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