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Sheffield Resources LIMITED 27 October 2021 ASX Code : SFX Directors : Mr Bruce Griffin Executive Chairman Mr John Richards Non - Executive Director Mr Gordon Cowe Non - Executive Director Mr Ian Macliver QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2021 HIGHLIGHTS Thunderbird Mineral Sands Project ( Sheffield interest - 50 % ) • Site early works to enable process construction in 2022 dry season underway Trial mining completed in quarter and confirmed dozer push mining method Engineering , design and commercial contract negotiations advanced ahead of a planned early 2022 Final Investment Decision Corporate Activities • Divestment of Eneabba interest underway with Sheffield assessing shortlisted proposals in the forthcoming quarter • ESG pathway established following review of key policies and practices Non - Executive Director • Registered Office : $ 5.8m in cash at quarter end ( unaudited ) with forecast expenditure of $ 0.6m in the forthcoming quarter . Level 2 , 41-47 Colin Street West Perth WA 6005 Share Registry : Link Market Services Level 12 , QV1 Building 122 ° E 123 ° E Kimberley Mineral Sands Tenements 0 50km 250 St Georges Terrace Perth WA 6000 Capital Structure : 17 ° S Ordinary Shares : 346.6M Unlisted Options : 1.0M Unlisted Rights : 7.4M DAMPIER PENINSULA DERBYO 104 ° C WESTERN AUSTRALIA Market Capitalisation : A $ 118 million Cash Reserves : A $ 5.8 million ( as at 30 Sep 2021 ) Investor Relations : Bruce Griffin T : +61 8 6555 8777 E : info@sheffieldresources.com.au Mark Di Silvio T : +61 8 6555 8777 E : info @ sheffield resources.com.au THUNDERBIRD MINERAL SAND PROJECT 18 ° S O BROOME DAMPIER PROJECT NIGHT TRAIN EAST DERBY PROJECT PROSPECT CANNING BASIN Figure 1 : Location of Thunderbird Mineral Sands Project