Sheffield axes bridging fund

MINERAL sands hopeful Sheffield Resources has ditched a US$10 million bridging loan facility it stitched up with Taurus Funds Management just three months into an 18-month term, having announced a placement to raise up to A$18 million.

Sheffield axes bridging fund Sheffield axes bridging fund Sheffield axes bridging fund Sheffield axes bridging fund Sheffield axes bridging fund

Sheffield has extracted more money from its backers.

The junior says it has commitments for the full amount based on the issue of shares at 39c, a discount to its recent trading price around 50c.

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