Sandfire's mine life of less than 10 years means we don't expect strong returns to be sustained.
No change to our AUD 4.80 fair value estimate for no-moat Sandfire Resources. Post a strong fiscal 2017 result, with net profit after tax up 65% to AUD 78 million--thanks to the higher copper price--attention for Sandfire returns to capital allocation. This is key to future value. Management is optimistic about exploration upside at Doolgunna, particularly around known deposits. Reserves are sufficient for about five years’ production based on current rates of about 65,000 tonnes of copper a yea...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.
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