THE BOURSE WHISPERER: Sheffield Resources (ASX: SFX) announced a decision from the National Native Title Tribunal has determined that Mining Lease 04/459 can be granted.
Sheffield Resources explained that Mining Lease 04/459 is the lease upon which the company’s Thunderbird mineral sands project is located.
The company anticipates the Western Australia Department of Mines and Petroleum (DMP) will now be able to finalise the grant of this mining lease in accordance with its standard procedures.
Sheffield said it expects to provide a further update upon completion of DMP procedures expected in mid-July 2017.
“Sheffield welcomes this announcement as it seeks to advance development of Thunderbird,” Sheffield Resources managing director Bruce McFadzean said in the company’s announcement to the Australian Securities Exchange.
“The company remains committed to delivering meaningful social and economic benefits from Thunderbird to Traditional Owners and the wider Kimberley community.
“The company is aiming to finalise offtake arrangements and advance funding arrangements following the substantial support received to date.
“Sheffield shall provide shareholders with further developments in the near future.”