What`s happening at Sheffield, page-17

It's a little tough to once respected posters thrashing around drowning in their own incompetence and insecurities. Understandable, opinions like investments have consequences. We all ware our bad calls like a hair shirt... just some ware it better than others. Some got unlucky, some never stood a chance.

The BFSU reported a post-tax, NPV8% discount valuation of A$1B, hardly uneconomical. A revenue to cost ratio above 2 is good, first quartile, but it's unflattering to higher cost projects like TB. On a net-margin basis TB would be top 10% in profitability such is the revenue/tonne.

While TB starts from surface it does plunge under cover, and thus the higher than usual industry cost/tonne. Luckily it has a very high revenue/tonne.

Middle of the desert lol, I think someone didn't do geography at school.

Rejected isn;t quite the same as nobody offering to buy a junior share in the project at prices being asked. The point I think we all agree on is that management tried and failed to fund a project with too high capex and equity hurdle. Don't think that has anything to do with high staff wages, though you get what you pay for as some junior African min sand investors are finding out.

If I knew exactly when the next cap raise was due, and I knew how to borrow shares of an illiquid junior developer, then sure I would short them to. I doubt someone who doesn't know valuable heavy mineral from trash knows when SFX is about to go into their next CR trading halt. Perhaps some good news and they lock in a JV funding partner over the 12 months before a CR is required?

There is no certainty SFX will get funded, min sands is a tough game getting developed. BSE is working on funding Tolliara which World Titanium tried and failed back in 2012, STA is working on funding Coburn which Gunson Resources tried and failed around the same time, ILU is trying to get the old WIM100 up and running which was discovered in the early 1980's. Discovering quality and highly profitable min sand deposits isn't that hard, funding them is. Discovering marginal rubbish min sand deposits is easy, funding them isn;t an issue because they never make it that far...