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Articles by Karl Simich
Sandfire jumps on profit boost
Shares in Karl Simich-led Sandfire Resources have jumped more than 8 per cent today after the company reported a record $123 million profit. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Auris soars on Sandfire JV drilling results
Shares in Auris Minerals have surged today, after the company's joint venture partner Sandfire Resources released promising drilling results from the Morck's Well East copper project in the Bryah Basin.
Sandfire upgrades Degrussa reserve
West Perth-based Sandfire Resources has upgraded its mineral resource at its Degrussa copper mine, which is located 900 kilometres north-east of Perth, following a recent drilling program.
Copper prices boost Sandfire's profit
Perth-based Sandfire announced a 62 per cent rise in net profit to $77.5 million for the 2017 financial year, with revenue up 9.6 per cent to $532.5 million. The company also declared a final dividend of 13 cents per share, fully franked, after producing 67,088 tonnes of copper and 38,623 ounces of gold from its DeGrussa mine. To read more, please Login or Register below
Sandfire buys into DeGrussa neighbour
Sandfire Resources will spend $3 million to earn a majority stake in Thundelarra’s Red Bore project, which lies adjacent to the copper miner’s DeGrussa operation in the Bryah Basin. Perth-based Sandfire said it would issue $1.5 million worth of its shares to Thundelarra and spend at least $1.5 million in exploration over 18 months, plus meet mineral resource definition targets, to earn a 75 per cent stake in the Red Bore copper prospect.
Sandfire, Talisman to develop new copper mine
A joint venture between Sandfire Resources and Talisman Mining has approved plans to spend $72 million on developing a new copper-gold mine north of Meekatharra. The Monty project is 10 kilometres way from Sandfire’s DeGrussa mine and infrastructure, and is 70 per cent owned by Sandfire and 30 per cent owned by Talisman. Project expenses will be divided up according to the project’s ownership structure, according to a feasibility study on the project released today.
Sandfire to pay off $50 DeGrussa debt
Copper-gold miner Sandfire Resources says it plans to use its strong cash position to pay off what remains of a $380 million facility it took out for construction of its DeGrussa mine in 2011. Perth-based Sandfire said the $50 million outstanding balance would be paid off by the end of the month using some of its $107 million cash in the bank, a year ahead of its scheduled repayment date.
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