SFX

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32.5¢ sheffield resources limited

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Popeye82

22,297 Posts.

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04/01/20

17:08

Post #: 42225803
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Originally posted by 13th: ↑

What are your thoughts in the Bridge St report @Popeye82?

I think it gives a decent summary of the current market and projects globally. Supply side issues are upon us and we are seeing the majors not fully disclosing their issues which will come out in coming revenue & production reports.

As for a deal to be done for SFX, the proof will be in the transaction and aside from Willy Schroder, there doesn't seem to be too many willing to take a punt down here. Can't blame the punters really, as it's been nothing but a disaster and disappointment since the final permit was received. This was Schroder's comments in his last update pre Christmas -

"Sheffield - I fear not much news recently - the market is keenly awaiting the outcome of UBS´s search for a strategic equity partner in their zircon-heavy, mineral sands project in Western Australia. Results will obviously not be announced before Christmas, but I believe, that they are very close to finding a partner. I still believe, that this is a VERY cheap company….Broker Bridge Street today reiterated, that the zircon market is still looking very sound, if not bullish, in the medium term - and for TiO2 in a similar way. Several production issues and project delays have been reported over the last few weeks, and a supply-shortfall looks almost certain from 2022 / 2023 anyway, due to exhausted mines. Psycholically, it´s a very difficult thing to constantly average down on a stock - but I am pretty convinced, that this is what you should be doing. The Bridge-Street-NPV for the project is still above 1.50 A$/share = 5x current share price, and while I have no doubt, that value will be diluted by an incoming partner, it should be possible to make some nice returns in this stock. The share price has been driven down by frustrated and stale investors - but fundamentally, nothing is wrong here, The early part of 2020 could be exciting for Sheffield, and it should also be rewarding, to hold them for the longer term!"

The technicals are looking good for a break of the 36c resistance. With the break through the short and medium term SMA's and retest of support at the 33c mark. The next leg higher looks to be starting today. Once the 36c resistance is taken out Iam looking for the 200 day at 45c to come into play and then the gap at 48c to be closed.

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For these Question I First have to know: you see it from a "Charting" Perspective, right?

Because my Approach -generally- is fundamentally-based.

SFX Price at posting: 34.0¢ Sentiment: Buy Disclosure: Not Held
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(20min delay)
Last 32.5¢		Change 0.015(4.84%)		Mkt cap ! $128.3M

Open	High	Low	Value	Volume
32.0¢	32.5¢	32.0¢	$39.53K	123.3K

Buyers (Bids)

No.	Vol.	Price($)
3	41415	30.0¢

Sellers (Offers)

Price($)	Vol.	No.
32.5¢	45242	1

View Market Depth

No.	Vol.	Price($)
3	41415	0.300
1	1700	0.295
1	30000	0.290
1	5000	0.280
2	56800	0.275

Price($)	Vol.	No.
0.325	45242	1
0.340	26469	2
0.350	8888	1
0.360	100000	1
0.370	25000	1

Last trade - 15.55pm 30/08/2024 (20 minute delay)

SFX (ASX) Chart

Opportunity knocking, page-8

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

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EBR reaches review milestone for wireless cardiac pacing device

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

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PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

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Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Helix investor makes partial takeover bid, proposing board changes

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Opportunity knocking, page-8

Top Stories

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Results wrap: Austal, TPG Telecom and Downer

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Lendlease sells off US east coast construction operations in latest global divestment push

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

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Featured News

Buyers (Bids)

Sellers (Offers)

Featured News