Latest Research

Sandfire Resources (SFR) - Clock Is Ticking

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Sandfire Resources (SFR) produced a solid final Q for FY17 with 17.1kt Cu and 9.7koz gold in concentrate (+5% and +8% QoQ) beating Argonaut’s forecast of 16.8kt Cu and 9.5koz gold. SFR finished FY17 with 67.1kt Cu and 38.6koz gold, within guidance of 65-68kt Cu and 35-40koz gold. Annual C1 costs of US$0.93/lb were below the guidance range of US$0.95-1.05/lb. The Company has broken ground on the Monty deposit (70% SFR: 30% Talisman Mining [TLM]) with the commencement of the underground boxcut. Argonaut maintains a HOLD recommendation with a $6.10 target price (previously $6.05).

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