Business
Why the Sheffield (ASX:SFX) share price climbed higher today
The Sheffield Resources Ltd (ASX: SFX) share price climbed higher today following the execution of binding definitive documents with YGH Australia Investment Pty Ltd (Yansteel).
At the closing bell, the Sheffield share price finished the day up 4.1% to 38 cents. Heading the other way, the S&P/ASX 200 Materials Index (ASX: XMJ) ended down 1% to 16,156 points.
What did Sheffield announce?
According to its release, Sheffield and its potential joint venture partner, Yansteel executed binding definitive documents to become equal strategic partners on the Thunderbird Mineral Sands project.
Sheffield advised that both parties are working towards fulfilling the remaining conditions set out. Once finalised, a lender agreement and a $130.1…
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