Sandfire's mine life of less than 10 years means we don't expect strong returns to be sustained.
We maintain our AUD 4 per share fair value estimate despite Sandfire's relatively soft start to fiscal 2017. Copper production in the September quarter declined by 12% on the prior period to 15,600 tonnes. The drop was chiefly due to lower grade at DeGrussa, which fell from 4.9% to 4.4% copper. Management expects grades to recover in the second and third quarters, and reiterated fiscal 2017 full-year guidance for 65,000 to 68,000 tonnes of copper. We continue to forecast copper production toward...Sandfire Resources is a mining and exploration company. Co. is engaged in the production and sale of copper, gold and silver; and the exploration and evaluation of mineral tenements and projects in Australia and overseas. Co. has two operating segments: The DeGrussa Copper Mine, a copper-gold mine located in the Bryah Basin mineral province of Western Australia; and Exploration and evaluation, which includes exploration and evaluation of the mineral tenements in Australia and overseas, including exploring for potential repeats of the DeGrussa Volcanogenic Massive Sulphide mineralised system at the Doolgunna Projects and Co.'s investment in Tintina Resources Inc and WCB Resources Ltd.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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