Sheffield Resources completes A$12.9 million placement of Ordinary Shares by Yansteel
Clients Sheffield Resources Limited
Jones Day advised Sheffield Resources Limited (ASX: SFX) (Sheffield), a mineral sands-focused explorer and developer headquartered in Perth, Western Australia, in connection with a placement of shares to YGH Australia Investment Pty Ltd (Yansteel) for A$12.9 million. Yansteel acquired a 9.9% interest in Sheffield under the placement. The placement is one part of the broader transaction including an ilmenite offtake agreement and potential joint venture between Sheffield and Yansteel. The joint venture remains subject to negotiation and execution of formal transaction documents and applicable regulatory approvals.