Sandfire's mine life of less than 10 years means we don't expect strong returns to be sustained.
We raise our fair value estimate for no-moat-rated Sandfire Resources to AUD 5.50 per share from AUD 4.90 due to higher short-term copper price forecasts, an uplift in the value of 78%-owned Sandfire Resources America, and a strong first-half fiscal 2018 profit. Our 2018 forecast copper price lifts by 4% to USD 2.60 per pound and 2019 by 9% to USD 2.40. The buoyant first-half profit and higher copper price assumptions see our adjusted earnings per share forecasts rise 23% to AUD 0.61 in fiscal 2...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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