Sheffield has announced a substantial upgrade to its flagship Thunderbird mineral sands development in WA, marking a milestone in what is becoming a globally significant project, the broker notes.
At planned full production, Thunderbird would produce around 10% of the world’s zircon, thus making this new entrant hard to ignore.
Outperform and $1.05 target retained.
Target price is $1.05.Current Price is $0.72. Difference: $0.33 – (brackets indicate current price is over target). If SFX meets the Macquarie target it will return approximately 31% (excluding dividends, fees and charges – negative figures indicate an expected loss).