Sandfire Resources (SFR) reported June Q results with 17.9kt Cu and 9.5koz Au at US$0.80/lb C1 costs beating Argonaut’s forecast of 18.8kt Cu and 9.4koz au at US$1.08/lb. SFR finished FY18 with 64.9kt Cu and 39.3koz Au, within the revised guidance range of 63-66kt Cu and 38-40koz Au. Monty decline development slowed during the Q and has fallen behind schedule as a result of poor ground conditions requiring addition ground support. SFR’s cash balance increased by $55m QoQ to $243m at 30 June. Interestingly, the Company stated that it is considering a rights issue to fund permitting and a BFS on the Black Butte Project in Montana. We expect this raise will be within Sandfire Resources America Inc (formerly Tintina Resources).
To access our review of Sandfire Resources please log in under the Client Area Log In at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
+61 8 9224 6888
+852 3557 4888