SFX

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29.0¢ sheffield resources limited

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Popeye82

22,405 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 29.0¢		Change -0.005(1.69%)		Mkt cap ! $114.4M

Open	High	Low	Value	Volume
30.0¢	30.0¢	29.0¢	$29.46K	100.6K

Buyers (Bids)

No.	Vol.	Price($)
4	32700	29.0¢

Sellers (Offers)

Price($)	Vol.	No.
30.5¢	5312	1

View Market Depth

No.	Vol.	Price($)
2	15200	0.290
2	4440	0.285
2	10810	0.280
1	50000	0.275
2	38000	0.270

Price($)	Vol.	No.
0.305	5312	1
0.310	16129	1
0.320	107149	4
0.330	40000	1
0.340	22022	1

Last trade - 10.43am 04/10/2024 (20 minute delay)

SFX (ASX) Chart

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