.SheffieldRes will raise A$30million to expand its project portfolio, including taking a potential 20% stake in a mineralsands project in Brazil mining investment funding finance resources
PERTH – Mineral sands developer Sheffield Resources has announced a A$30-million capital raise as it looks to expand its project portfolio to include the South Atlantic mineral sands project, in Brazil.
To fund the potential acquisition, Sheffield on Tuesday announced a capital raise, saying it had received binding commitments for the placement of 36-million new shares, priced at 50c each, to raise an initial A$18-million. The placement will be completed under Sheffield’s existing placement capacity and will not require shareholder approval.
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