It wouldn't surprise me that SFX is looking at Eneaba and McCalls as potential divestment candidates which may be a way that SFX raises funds to fulfil future capital requirements (such as the $10mil contribution to the JV upon FID).
"As 100% owner of the Eneabba & McCalls mineral sands projects in the North Perth Basin, Sheffield is updating scoping studies
for both these locations. Given the buoyant mineral sands market outlook Sheffield is exploring opportunities to maximise the
value of the deposits to its shareholders." - last para on page 8 of AR
This sentence from the Chairman Letter to Shareholders further strengthens the likelihood that no further equity raise will be required.
"The Yansteel $130.1m joint venture equity funding, together with project financing to be secured from lenders, is expected to
deliver a fully funded project."
It wouldn't surprise me that SFX is looking at Eneaba and...
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