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ASX and Media Release
13 August 2015
SALE OF PILBARA IRON TENEMENTS
Sheffield Resources ("Sheffield") (ASX:SFX) today announced that it has entered into an unconditional agreement with Atlas Iron Limited (ASX:AGO) to sell its 100% interests in E45/4029, E45/3662 and E45/3822.
The sale tenements are located near Atlas Iron's Abydos and Mt Webber iron ore operations. The sale consideration is $150,000 payable in Atlas Iron shares based on a 15% discount to their
5 day VWAP. The consideration shares will not be tradeable by Sheffield for a period of up to
12 months, in accordance with Corporations Law requirements.
The sale of these iron tenements is consistent with the Company's strategy of unlocking value from non-core assets while focusing on the Company's flagship Thunderbird HMS Project.
ENDS
For further information, please contact: Will Burbury
Chairman
08 6424 8440
Sheffield Resources Ltd ACN 125 811 083
Level 2, 41 Colin Street West Perth WA 6005 PO Box 205 West Perth WA 6872 T: +61(0) 8 6424 8440 F: +61(0) 8 9321 1710
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PRODUCER |
CODE : AGO.AX |
ISIN : AU000000AGO1 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Atlas Iron is a iron exploration company based in . Atlas Iron holds various exploration projects in Australia. Its main asset in production is PARDOO in Australia, its main assets in development are WODGINA and RIDLEY MAGNETITE PROJECT in Australia and its main exploration properties are ABYDOS, MT WEBBER and MID WEST IRON in Australia. Atlas Iron is listed in Australia and in Germany. Its market capitalisation is AU$ 463.1 millions as of today (US$ 302.7 millions, € 264.3 millions). Its stock quote reached its highest recent level on July 29, 2011 at AU$ 3.96, and its lowest recent point on June 24, 2016 at AU$ 0.01. Atlas Iron has 9 261 129 728 shares outstanding. |