Thunderbird review progressing

Sheffield in February this year announced a re-think of the Thunderbird project, pausing the hunt for a strategic partner to help finance and develop the project, in an effort to focus on changing the scale and product mix to reduce capital costs and to provide a more readily financeable project.

The company on Wednesday told shareholders that the small range of development strategies identified included a zircon-rich product stream in conjunction with alternate ilmenite streams.

Sheffield is now progressing the selection of a production pathway that would result in lower initial capital expenditure requirements, and maximise investment returns, compared to the original plans for Thunderbird.

The next phase of the development review would involve engagement with key stakeholders and potential funding partners to road-test the potential development pathways, prior to determining a preferred project scope for development, the company said.

Sheffield noted that all major components of the development strategy remained consistent with the previously completed feasibility studies, with Sheffield only expecting a modest amount of future work would be required to secure the selected development strategy to a bankable feasibility study level.