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Sandfire Resources Limited (SFR) Report Analysis

Corporate Events

Neutral

Sandfire Resources Limited Presents at RRS 2022...

2022-06-07 01:17:00

Sandfire Resources Limited Presents at RRS 2022 Gold Coast Conference, Jun-07-2022 09:00 AM. Speakers: Karl Matthew Simich, MD, CEO & Executiv...

Neutral

Resources Rising Stars, RRS 2022 Gold Coast Con...

2022-06-07 00:33:00

Resources Rising Stars, RRS 2022 Gold Coast Conference, Jun 07, 2022 through Jun 08, 2022.

Neutral

Sandfire Resources Limited, Q3 2022 Earnings Ca...

2022-04-11 01:16:00

Sandfire Resources Limited, Q3 2022 Earnings Call, Apr 28, 2022

Neutral

Sandfire Resources Limited to Report Q3, 2022 R...

2022-04-11 01:16:00

Sandfire Resources Limited announced that they will report Q3, 2022 results on Apr 28, 2022

Positive

Sandfire Resources Limited Announces Commenceme...

2022-04-05 08:23:00

Sandfire Resources Ltd. provided a construction and development pictorial update for its 100%-owned Motheo Copper Mine in Botswana, Southern A...

Negative

Sandfire Resources Limited Announces Board Changes

2022-03-29 21:22:00

Sandfire Resources Ltd. announced the appointment of Independent Non-Executive Director Mr. John Richards as Non-Executive Chair, effective fr...

Positive

Sandfire Resources Limited Provides Development...

2022-02-14 01:49:00

Sandfire Resources Limited provided a development and construction pictorial update for its 100%-owned Motheo Copper Mine in Botswana, Souther...

Positive

Balkan Mining and Minerals Limited (ASX:BMM) ag...

2022-02-07 00:00:00

Balkan Mining and Minerals Limited (ASX:BMM) agreed to acquire EMEA (BIH) Pty Ltd from Sandfire Resources Limited (ASX:SFR) for AUD 0.25 milli...

Neutral

Sandfire Resources Limited Presents at 121 Mini...

2022-02-04 03:36:00

Sandfire Resources Limited Presents at 121 Mining Investment Conference, Cape Town, May-10-2022 10:40 AM. Venue: Welgemeend Manor House, Cape ...

Positive

Sandfire Resources Limited (ASX:SFR) acquired M...

2022-02-01 00:00:00

Sandfire Resources Limited (ASX:SFR) entered into a binding sale and purchase agreement to acquire Minas de Aguas Teñidas, S.A.U. (MATSA) from...

Positive

Sandfire Resources Limited Announces Mineral Re...

2021-12-14 21:17:00

Sandfire Resources Limited announced a maiden Mineral Resource Estimate for the Old Highway Deposit, located 20km west-south-west of the Compa...

Positive

Sandfire Resources Limited(ASX:SFR) added to S&...

2021-11-30 00:00:00

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Index

Positive

Sandfire Resources Limited(ASX:SFR) added to S&...

2021-11-30 00:00:00

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Materials Sector Index

Neutral

Auris Minerals Limited Updates on Exploration C...

2021-10-14 22:50:00

Auris Minerals Limited updated on exploration completed by Sandfire Resources Limited during the September quarter across the Joint Venture Pr...

Negative

Sandfire Resources Limited has completed a Foll...

2021-10-13 00:00:00

Sandfire Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 321.361225 million. Security Name: Ordinary Share...

Neutral

Sandfire Resources Limited Presents at "BOOM IN...

2021-10-11 23:55:00

Sandfire Resources Limited Presents at "BOOM IN A ROOM" INVESTOR CONFERENCE, Oct-15-2021 10:45 AM. Venue: RAC Arena, Perth, Western Australia,...

Neutral

Resources Rising Stars, "BOOM in A ROOM" INVEST...

2021-10-11 21:20:00

Resources Rising Stars, "BOOM IN A ROOM" INVESTOR CONFERENCE, Oct 14, 2021 through Oct 15, 2021. Venue: RAC Arena, Perth, Western Australia, A...

Neutral

Sandfire Resources Limited Presents at 13th Ann...

2021-10-09 01:00:00

Sandfire Resources Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-13-2021 .

Neutral

Sandfire Resources Limited - Shareholder/Analyst Call

2021-10-07 07:00:00

Annual General Meeting

Neutral

Sandfire Resources Limited, Annual General Meet...

2021-10-07 07:00:00

Sandfire Resources Limited, Annual General Meeting, Nov 26, 2021, at 11:00 W. Australia Standard Time. Agenda: To receive and consider the fin...

Neutral

Sandfire Resources Limited, Q1 2022 Earnings Ca...

2021-09-30 02:28:00

Sandfire Resources Limited, Q1 2022 Earnings Call, Oct 28, 2021

Neutral

Sandfire Resources Limited to Report Q1, 2022 R...

2021-09-30 02:28:00

Sandfire Resources Limited announced that they will report Q1, 2022 results on Oct 28, 2021

Neutral

Sandfire Resources Limited Provides Production ...

2021-09-23 01:00:00

Sandfire Resources Limited provided production guidance for the year 2022. For the period, the company production guidance on an annualized ba...

Neutral

Sandfire Resources Limited - Special Call

2021-09-23 00:07:00

To discuss acquisition of the MATSA Mining Complex in Spain

Positive

Sandfire Resources Limited Announces Acquisitio...

2021-09-23 00:07:00

Sandfire Resources Limited announced that it has entered into a binding sale and purchase agreement ("SPA") with Trafigura and Mubadala Invest...

Negative

Sandfire Resources Limited has filed a Follow-o...

2021-09-23 00:00:00

Sandfire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.2474 billion. Security Name: Ordinary Shares Secu...

Positive

Sandfire Resources Limited (ASX:SFR) entered in...

2021-09-23 00:00:00

Sandfire Resources Limited (ASX:SFR) entered into a binding sale and purchase agreement to acquire Minas de Aguas Teñidas, S.A.U. (MATSA) from...

Positive

Sandfire Resources Ltd Confirms the Potential t...

2021-09-21 22:23:00

Sandfire Resources Ltd. announced that it has confirmed the potential to rapidly expand its Motheo Copper Mine in Botswana from 3.2Mtpa to 5.2...

Neutral

Sandfire Resources Limited Presents at 121 Mini...

2021-09-17 19:43:00

Sandfire Resources Limited Presents at 121 Mining Investment EMEA, Nov-23-2021 .

Positive

Sandfire Resources Limited Reports High Grade D...

2021-09-06 22:21:00

Sandfire Resources Limited announced that step-out drilling at the A4 Dome, located 8km west of the Company's Motheo Copper Mine in Botswana, ...

Neutral

Sandfire Resources Limited Presents at Africa D...

2021-09-01 03:40:00

Sandfire Resources Limited Presents at Africa Down Under Conference 2021, Sep-01-2021 09:20 AM. Venue: Pan Pacific Hotel, 207 Adelaide Terrace...

Neutral

Paydirt Media Pty Ltd, Africa Down Under Confer...

2021-08-31 23:16:00

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Austra...

Positive

Sandfire Resources Limited, 0.26 (AUD), Cash Di...

2021-08-31 00:00:00

Sandfire Resources Limited, 0.26 (AUD), Cash Dividend, Sep-06-2021

Positive

Sandfire Resources Limited Announces Dividend f...

2021-08-30 22:03:00

Sandfire Resources Limited announced dividend of AUD 0.26000000 per share SFR - ORDINARY FULLY PAID, for the period of six months ended June 3...

Neutral

121 Group Ltd, 121 Mining Investment Conference...

2021-08-26 20:38:00

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022. Venue: Welgemeend Manor House, Cape Town, South Africa.

Neutral

Citigroup Inc., 13th Annual Australia & New Zea...

2021-08-24 16:47:00

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021. The Citi Australia & New Ze...

Negative

Sandfire Resources Limited Announces Management Changes

2021-07-30 05:09:00

Sandfire Resources Limited announced The Board succession process has also increased the level of gender diversity on the Board, with two out ...

Neutral

Sandfire Resources Limited - Special Call

2021-07-30 01:29:00

To include strategy, operations, development projects, exploration and outlook.

Neutral

Sandfire Resources Limited Provides Production ...

2021-07-29 10:33:00

Sandfire Resources Limited provided production guidance for the fiscal year 2022. For the year 2022, production is expected to be within the r...

Positive

Sandfire Resources Ltd Reports Updated JORC 201...

2021-07-20 22:22:00

Sandfire Resources Ltd. reported an updated JORC 2012 Indicated and Inferred Mineral Resource Estimate for the A4 Copper-Silver Deposit, locat...

Neutral

Sandfire Resources Limited, 2021 Earnings Call,...

2021-07-14 02:50:00

Sandfire Resources Limited, 2021 Earnings Call, Aug 31, 2021

Neutral

Sandfire Resources Limited to Report Q4, 2021 R...

2021-07-14 00:00:00

Sandfire Resources Limited announced that they will report Q4, 2021 results on Jul 29, 2021

Positive

Sandfire Resources Ltd Provides Production Guid...

2021-07-13 22:22:00

Sandfire Resources Ltd. provided production guidance for the year ended June 30, 2021. The company provided that it has exceeded annual copper...

Positive

Sandfire Resources Limited Reports Unaudited Re...

2021-07-13 22:22:00

Sandfire Resources Limited reported unaudited revenue results for the year 2021. For the year, the company reported total sales revenue of $81...

Neutral

121 Group Ltd, 121 MINING INVESTMENT EMEA, Nov ...

2021-07-08 02:42:00

121 Group Ltd, 121 MINING INVESTMENT EMEA, Nov 23, 2021 through Nov 25, 2021.

Neutral

Sandfire Resources Limited Receives Mining Lice...

2021-07-07 00:57:00

Perenti Global Limited (Perenti or the Company) reported that Sandfire Resources Limited (Sandfire) has successfully satisfied one of the two ...

Positive

Sandfire Secures Mining Licence for Motheo Copper Mine

2021-07-06 23:54:00

Sandfire Resources Limited announced that the Mining Licence has been granted for its Motheo Copper Mine in Botswana, representing the final m...

Neutral

Sandfire Resources Limited to Report Fiscal Yea...

2021-07-01 02:12:00

Sandfire Resources Limited announced that they will report fiscal year 2021 results on Aug 31, 2021

Neutral

Sandfire Resources Limited Presents at Diggers ...

2021-06-30 19:09:00

Sandfire Resources Limited Presents at Diggers and Dealers Mining Forum, Aug-03-2021 04:05 PM. Venue: Goldfields Arts Centre, Cheetham Street,...

Neutral

Sandfire Resources Limited, Q4 2021 Earnings Ca...

2021-06-29 02:25:00

Sandfire Resources Limited, Q4 2021 Earnings Call, Jul 29, 2021

Neutral

Sandfire Resources Limited Presents at RRS 2022 Gold Coast Conference, Jun-07-2022 09:00 AM

2022-06-07 01:17:00

Sandfire Resources Limited Presents at RRS 2022 Gold Coast Conference, Jun-07-2022 09:00 AM. Speakers: Karl Matthew Simich, MD, CEO & Executive Director.

Neutral

Resources Rising Stars, RRS 2022 Gold Coast Conference, Jun 07, 2022 through Jun 08, 2022

2022-06-07 00:33:00

Resources Rising Stars, RRS 2022 Gold Coast Conference, Jun 07, 2022 through Jun 08, 2022.

Neutral

Sandfire Resources Limited, Q3 2022 Earnings Call, Apr 28, 2022

2022-04-11 01:16:00

Sandfire Resources Limited, Q3 2022 Earnings Call, Apr 28, 2022

Neutral

Sandfire Resources Limited to Report Q3, 2022 Results on Apr 28, 2022

2022-04-11 01:16:00

Sandfire Resources Limited announced that they will report Q3, 2022 results on Apr 28, 2022

Positive

Sandfire Resources Limited Announces Commencement of Open Pit Mining Marks Another Key Milestone Towards First Copper Production

2022-04-05 08:23:00

Sandfire Resources Ltd. provided a construction and development pictorial update for its 100%-owned Motheo Copper Mine in Botswana, Southern Africa and to announce the commencement of open pit mining at Motheo. First pre-strip material was mined at the T3 Open Pit deposit in late March, approximately one week ahead of schedule against the project execution plan, with mining currently making excellent progress. The start of open pit mining by Sandfire's contracting partner, African Mining Services (AMS), a division of Perenti Global Limited. Motheo is a substantial new long-life copper mine and one of the few new copper mines under construction anywhere in the world. It is expected to become the cornerstone of a long-term copper mining hub for Sandfire in the world-class Kalahari Copper Belt. As outlined in the attached pictorial update, development at Motheo is proceeding on schedule and on budget, with first production expected in the first half of calendar year 2023. Some of the key recent developments include: Construction office building occupied and operational. A3 Junction Road construction nearing completion. Earthworks for the process plant now 98% complete and plant civil works progressing well, with foundations progressing for the primary crusher, SAG Mill, tails thickener and reclaim tunnel vault. Construction of the 750-room Mine Village advancing, with 160 rooms now occupied. Construction of the 132kV transmission power line advancing, with tower construction and assembly well underway.

Negative

Sandfire Resources Limited Announces Board Changes

2022-03-29 21:22:00

Sandfire Resources Ltd. announced the appointment of Independent Non-Executive Director Mr. John Richards as Non-Executive Chair, effective from 30 April 2022. Mr. Richards succeeds Mr. Derek La Ferla, who has served as the Non-Executive Chairman of Sandfire since 17 May 2010. Mr. La Ferla advised his intention to retire from the Board at the Company's 2021 Annual General Meeting and will remain as a Non-executive Director during 2022 as the Board continues the succession program and further builds skills and capability at Board level. Mr. Richards was appointed as an Independent Non-Executive Director of Sandfire in January 2021. Mr. Richards is also a Non-Executive Director of leading gold producer Northern Star Resources Ltd. and mineral sands company Sheffield Resources Ltd.

Positive

Sandfire Resources Limited Provides Development and Construction Pictorial Update for Its 100%-Owned Motheo Copper Mine in Botswana, Southern Africa

2022-02-14 01:49:00

Sandfire Resources Limited provided a development and construction pictorial update for its 100%-owned Motheo Copper Mine in Botswana, Southern Africa. Motheo is a substantial new long-life copper mine and one of the few new copper mines under construction anywhere in the world. It is expected to become the cornerstone of a long-term copper mining hub for Sandfire in the world-class Kalahari Copper Belt. As outlined in the attached update, development at Motheo is proceeding on schedule and on budget, with first production expected in the first half of calendar year 2023. Some of the key recent developments include: A substantial ramp-up in the on-site workforce to over 1,000 people. Significant progress with the development of access roads to the Motheo site. Pouring of the foundations for the Crusher, Reclaim Tunnel and Mill with over 1,500m3 of concrete poured to date. Construction of the 750-room Mine Village advancing well. Mining contractor mobilised to site, constructing key facilities and assembling equipment. Mining pre-strip scheduled to commence early April 2022. Foundations for the 132kV power line commenced. Mine Operations Team building ahead of mining commencement. Sandfire intends to fund the development of the Motheo Copper Mine through a combination of cash and project debt. Credit committee approved offers for debt financing of the $160 million required for the Base Case development have now been received from the Company's short-list of potential international lenders. The selection of syndicate banks and finalisation of terms will be completed during the March 2022 Quarter.

Positive

Balkan Mining and Minerals Limited (ASX:BMM) agreed to acquire EMEA (BIH) Pty Ltd from Sandfire Resources Limited (ASX:SFR) for AUD 0.25 million.

2022-02-07 00:00:00

Balkan Mining and Minerals Limited (ASX:BMM) agreed to acquire EMEA (BIH) Pty Ltd from Sandfire Resources Limited (ASX:SFR) for AUD 0.25 million on February 7, 2022. The deal is subject to receipt of all approvals required for the transaction contemplated by the agreement to proceed including all approvals required from any Government Agency in Australia or Bosnia and Herzegovina.

Neutral

Sandfire Resources Limited Presents at 121 Mining Investment Conference, Cape Town, May-10-2022 10:40 AM

2022-02-04 03:36:00

Sandfire Resources Limited Presents at 121 Mining Investment Conference, Cape Town, May-10-2022 10:40 AM. Venue: Welgemeend Manor House, Cape Town, South Africa.

Positive

Sandfire Resources Limited (ASX:SFR) acquired Minas de Aguas Teñidas, S.A.U. (MATSA) from Mubadala Investment Company PJSC and Trafigura Pte Ltd.

2022-02-01 00:00:00

Sandfire Resources Limited (ASX:SFR) entered into a binding sale and purchase agreement to acquire Minas de Aguas Teñidas, S.A.U. (MATSA) from Mubadala Investment Company PJSC and Trafigura Pte Ltd for $1.9 billion on September 23, 2021. The agreed transaction delivers Sandfire the MATSA mining complex in Spain, which comprises the Aguas Teñidas, Magdalena and Sotiel underground mines, and a 4.7Mtpa central processing facility at Aguas Teñidas. Consideration will be paid in cash. Sandfire has agreed to pay $300 million deposit of which $100 million is paid on signing of the agreement and $200 million to be paid 10 business days thereafter. Sandfire to fund the transaction from $905 million fully underwritten equity raising consisting of; AUD 120 million ($87 million) of the Placement to AustralianSuper, AUD 165 million ($120 million) of institutional placement and AUD 963 million ($698 million) 1 for 1 accelerated non-renounceable entitlement offer; $650 million syndicated and underwritten debt facility secured against MATSA; $145 million corporate debt facility secured against DeGrussa and $215 million funded through existing cash reserves. AustralianSuper to further sub-underwrite up to AUD 150 million ($108.75 million) of the Retail Entitlement Offer. Entitlement Offer consists of AUD 626 million ($454 million) of Institutional Entitlement Offer and AUD 337 million ($244 million) of Retail Entitlement Offer. Sandfire has entered into a binding credit-approved underwritten commitment letter and term sheet with Citi, Macquarie Bank, Natixis and Société Générale to provide the $650 million syndicated and underwritten debt facility. Natixis and Société Générale are existing lenders to MATSA and drawdown is expected to occur on completion of the transaction. The syndicated debt facility fully amortises over its scheduled term (5 years from drawdown) and contains customary provisions including a cash sweep. The facility is expected to be fully repaid within 4 years of drawdown due to forecast strong cashflows from MATSA. Sandfire has also entered into a binding credit-approved commitment letter and term sheet with ANZ to provide a $145 million corporate debt facility. This is a short-term facility for ~12 months, supported by DeGrussa cash flows over its remaining mine life, with recourse to Sandfire. The syndicated and ANZ debt facilities include a number of conditions precedent to drawdown which are customary for facilities of this nature, including completion of full form documentation. As a part of equity raising, Sandfire to issue approximately 231 million new fully paid ordinary shares at an issue price of AUD 5.4 ($3.915) per share. Consideration implies an acquisition multiple of 4.8x MATSA’s FY21A EBITDA of $387 million. Sandfire intends to retain MATSA’s highly experienced in-country management team. The transaction is subject to key conditions precedent including Spanish Foreign Direct Investment, which is expected to take 3-6 months and Anti-trust Merger approval. The transaction will proceed toward completion on or around January 31, 2022. The acquisition of MATSA is expected to be accretive to Sandfire’s earnings and cash flow per share in its first full year of ownership (FY23), transforming Sandfire’s growth trajectory and providing a cornerstone asset with an anticipated mine life of over 10 years. As of October 27, 2021, The second and the final deposit of $200 million has been paid into escrow account. Sandfire’s application for Foreign Investment Authority approval in relation to Foreign Direct Investment has been submitted to the Government of Spain. Competition Authority approval submission is expected to be formally lodged early November 2021. As of December 30, 2021, Foreign Investment Authority and Competition Authority in Spain have approved the acquisition. Citigroup Global Markets Australia Pty Ltd and Macquarie Capital (Australia) Limited are acting as Joint Lead Managers and Underwriters to the Placement and Entitlement Offer. Natixis Wealth Management acted as financial advisor to the board of Sandfire. Macquarie Group Limited (ASX:MQG) acted as financial advisor and Nicholls, Luke; Simpson, Geoff of Allen & Overy LLP acted as legal advisor to Sandfire. BurnVoir Corporate Finance as debt advisor and Sarah Turner including Michael Fitzpatrick, Maree Casey, Chamali Samarasinghe, Anneka Thomson and Claudia Russo of Gilbert + Tobin acted as legal advisors to Sandfire in respect of the Equity Raising. Gaelan Cooney (Projects, Perth), Adrian Lawrence (Projects, London) and José Christian Bertram (Global Loans, Madrid) with a team included Matthew Wood, counsel Marina Tinning and Borja Vázquez, Ffion Archer and Juan Aznar, Ignacio Piñeiro, and solicitor Olufemi Omosuyi of Ashurst LLP acted as legal advisors to advise Sandfire on the debt financing of the transformational acquisition. Ernst & Young Global Limited acted as financial due diligence provider to Mubadala Investment Company PJSC and Trafigura Pte Ltd. UBS and BMO Capital Markets acted as financial advisors to Trafigura and Mubadala Investment Company. Daniel Boyle, Javier Amantegui, Samir Azzouzi and José Luis Zamarro of Clifford Chance LLP (UAE) acted as a legal advisor to Mubadala Investment Company PJSC. Sandfire Resources Limited (ASX:SFR) completed the acquisition of Minas de Aguas Teñidas, S.A.U. (MATSA) from Mubadala Investment Company PJSC and Trafigura Pte Ltd on February 1, 2022.

Positive

Sandfire Resources Limited Announces Mineral Resource Estimate for Old Highway Gold Deposit

2021-12-14 21:17:00

Sandfire Resources Limited announced a maiden Mineral Resource Estimate for the Old Highway Deposit, located 20km west-south-west of the Company's 100%-owned DeGrussa Copper-Gold Mine in Western Australia. Study work is currently underway to assess the potential development options for the Old Highway gold deposit. As part of the study Sandfire has completed preliminary design and costing for the addition of a gold recovery circuit to the existing DeGrussa copper concentrator. Study work is continuing and is expected to be completed in the March Quarter of 2022. Drilling is continuing at Old Highway with a ~9,100m (24-hole) diamond drill program commenced, focused on extending the high-grade mineralisation in the central section of the Old Highway deposit - an area known as `Central Deeps' - which remains open along strike and down dip. The deepest holes from this program will test ~200m below the currently defined extent of the mineralisation. Eight holes (~3,200m) of this program have been completed to date, the majority of which have intersected quartz veins in the expected position down-dip of the known mineralisation. Assay results for these holes are awaited. Sandfire has completed a number of study elements to support the completion of the MRE and assess potential development options for the Old Highway deposit, including: Preliminary open pit and underground design work in progress, including geotechnical and hydrology studies. Metallurgical testwork including variability work on the different ore lithologies has been completed. The ore is free milling with overall very high gold recoveries exceeding 90% at moderate grind size of 106 microns and low reagent consumptions. Preliminary design and costing for the addition of a gold recovery plant to the existing eGrussa copper concentrator. This would involve the addition of gravity, CIL and gold recovery circuits. The existing concentrator crushing and grinding circuits could be re-used with only minor modification required. All baseline environmental work at Old Highway has been completed and documentation for the various approvals is in progress. Ore haulage options for the transport of ore from Old Highway to DeGrussa have been investigated and preliminary costs for the options established. Various CIL tailings storage options including use of the existing DeGrussa TSF and in-pit deposition into the DeGrussa pit have been investigated. Mining Leases M52/1080 and M52/1081 have been granted for the Old Highway project area. The Old Highway Prospect is situated approximately 20km west-southwest of Sandfire's DeGrussa Copper-Gold Mine. It lies 900km north-east of Perth and 150km north of Meekatharra in the Peak Hill Mineral Field. Access is via the Great Northern Highway and a series of exploration tracks that link the prospect area to the `Old Highway'. The Old Highway deposit occurs in the Bryah Group, an early-Proterozoic supercrustal sequence. The Byrah Group unconformably overlies the Yerrida Group, an early-Proterozoic supracrustal sequence that unconformabably overlies the Archean basement. The Archean basement comprises the Yilgarn Craton, the Marymia Inlier and the Yarlaweelor Gneiss complex. The Padbury Group, an early to mid-Proterozoic sequence unconformably overlies the Bryah Group. Ore vein mineralogy consists primarily of quartz, carbonate (likely to be ankerite or a ferroan dolomite), albite and pyrite. Trace (<1%) chalcopyrite, galena, haematite, native gold, bornite, chalcocite and goethite are also observed. Pyrite occurs as isolated grains within the veins but more typically in the selvages of the veins, where the wall rock (gangue minerals /rocks) dominates the rock mass (pyrite ranges from <1% to 10% of the selvage material). Native gold is noted to occur as both free grains on the margins of the pyrite grains (up to ~2mm observed in hand specimen) or as small inclusions within the pyrite (~2 µm). Likewise, chalcopyrite occurs as ragged grains on the edges of pyrite or as inclusions within the pyrite. Goethite, malachite, copper hydroxide/oxy-hydroxide and/or chalcocite occur in weathered samples. Copper-bearing minerals have only been encountered in limited areas of the deposit and are interpreted to be a function of the weathering of the trace primary chalcopyrite.

Positive

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Index

2021-11-30 00:00:00

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Index

Positive

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Materials Sector Index

2021-11-30 00:00:00

Sandfire Resources Limited(ASX:SFR) added to S&P/ASX 200 Materials Sector Index

Neutral

Auris Minerals Limited Updates on Exploration Completed by Sandfire Resources Limited

2021-10-14 22:50:00

Auris Minerals Limited updated on exploration completed by Sandfire Resources Limited during the September quarter across the Joint Venture Projects located in the Bryah Basin, Western Australia. Core activities completed during the quarter included the completion of an Air Core drilling programme within the Doolgunna Project and progress on heritage clearances to enable the commencement of infill Air Core drilling at the Morck Well Project. In February 2018, Auris entered a Farm-in Agreement with SFR in relation to the Morck Well and Doolgunna Projects which covers 430km². The Morck Well and Doolgunna Projects are strategically located 22km to the south-west and 4km to the southeast respectively, of Sandfire's DeGrussa Copper Mine in Western Australia. The Morck Well project is also located 8km along strike from Sandfire's Old Highway gold deposit with comparable high-grade gold mineralisation being intersected associated within similar geology within completed regional Air Core drilling. Planned regional Air Core drilling was completed within the Doolgunna Project during the September quarter, with a total of 37 holes for 2,165 metres undertaken. Activities within the Morck Well Project during the quarter was restricted to heritage surveying for potential upcoming Air Core drilling. The completed drilling was designed to gain a better understanding of the lithologies composing the prospect area and as infill drilling to an RC drill program carried out by Auris in 2011. Results were received for a total of 104 Air Core drill holes (MWAC4138 - MWAC4241) completed within the Doolgunna Project. All results from the completed drill program have now been received. A significant composite gold intersection of 5m @ 3.08g/t Au from 20m was returned from MWAC4225. This intersection is located approximately 100m along strike from the Salmon Prospect. During the quarter, all remaining results were also received from the regional Air Core drilling completed within the Morck Well Project, comprising 146 holes (MWAC3248 - MWAC3259. MWAC3590 - MWAC3600, MWAC3626, MWAC4016 - MWAC4137). A single significant result of 1m @ 0.11% Cu from 155m within MWAC4021 was returned. All significant intersections returned from Air Core drilling within the Morck Well JV are reported. Previous RC drilling completed by Auris during 2011 returned several narrow and high-grade gold intercepts. The mineralisation is likely to be related to the Cow Hole Bore Fault System, which hosts gold mineralisation at the nearby Mafic Anticline and Cow Hole Bore prospects. The recently completed Air Core drill program intercepted siltstones and wackes from the Cow Hole Bore Member over the central portion of the tenement, and dolerites, breccias and sediment from the Narracoota Formation through the northern and southern sections of the drill lines. Geological interpretation of the area is ongoing. An RC hole has been designed to test a model generated from an anomalous response that was identified on Line 54500 of the MLEM survey at Cow Hole Bore on the Doolgunna project. In September 2019, Auris entered into a farm-in agreement with Sandfire to advance exploration at the Company's Cashman Project located in the Bryah Basin of Western Australia. Under the agreement Sandfire are sole funding exploration until a Feasibility Study is completed on a discovery of >50,000t Copper or metal equivalent to earn a 70% interest. Results were received for the program of fifty Air Core drill holes for 1,663m were completed which were designed to infill existing 100m-spaced drill collars, specifically targeting prospective sediment horizons of the Karalundi Formation to provide additional geochemical data in the area proximal to the Orient gossan. A single significant result of 5m @ 0.60g/t Au from 25m was returned within CHAC1885. This intersection is located 400m along strike to the east from previous intersected mineralisation of 1m @ 9.72g/t Au from 40m (CHAC0780). Results were received from the two diamond tails completed at the Orient prospect last quarter. A maximum significant copper result of 1.18m @ 0.83% Cu from 417.3m including 0.68m @ 1.28% Cu from 417.8m (OTRC007) has been returned. All significant intersections returned from Diamond drilling within the Cashman JV are reported. DHEM surveying of CHRC0007 was completed to a depth of 370m, however, a blockage at this depth meant the bottom half of the hole could not be surveyed. A new DHEM survey will be run once the hole is cleared in the next reporting period. Recent structural interpretation has led to areas of interest which may be tested by additional RC drilling in the future.

Negative

Sandfire Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 321.361225 million.

2021-10-13 00:00:00

Sandfire Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 321.361225 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 59,511,338 Price\Range: AUD 5.4 Transaction Features: Rights Offering; Subsequent Direct Listing

Neutral

Sandfire Resources Limited Presents at "BOOM IN A ROOM" INVESTOR CONFERENCE, Oct-15-2021 10:45 AM

2021-10-11 23:55:00

Sandfire Resources Limited Presents at "BOOM IN A ROOM" INVESTOR CONFERENCE, Oct-15-2021 10:45 AM. Venue: RAC Arena, Perth, Western Australia, Australia. Speakers: Karl Matthew Simich, MD, CEO & Executive Director.

Neutral

Resources Rising Stars, "BOOM in A ROOM" INVESTOR CONFERENCE, Oct 14, 2021 through Oct 15, 2021

2021-10-11 21:20:00

Resources Rising Stars, "BOOM IN A ROOM" INVESTOR CONFERENCE, Oct 14, 2021 through Oct 15, 2021. Venue: RAC Arena, Perth, Western Australia, Australia.

Neutral

Sandfire Resources Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-13-2021

2021-10-09 01:00:00

Sandfire Resources Limited Presents at 13th Annual Australia & New Zealand Investment Conference 2021, Oct-13-2021 .

Neutral

Sandfire Resources Limited - Shareholder/Analyst Call

2021-10-07 07:00:00

Annual General Meeting

Neutral

Sandfire Resources Limited, Annual General Meeting, Nov 26, 2021

2021-10-07 07:00:00

Sandfire Resources Limited, Annual General Meeting, Nov 26, 2021, at 11:00 W. Australia Standard Time. Agenda: To receive and consider the financial report of the company for the year ended 30 June 2021, together with the directors' report and the auditor's report as set out in the annual and sustainability report; to adopt remuneration report; to consider the election and re-election of director; to consider the ratification of placement shares; to consider the spill resolution; and to consider any other matters.

Neutral

Sandfire Resources Limited, Q1 2022 Earnings Call, Oct 28, 2021

2021-09-30 02:28:00

Sandfire Resources Limited, Q1 2022 Earnings Call, Oct 28, 2021

Neutral

Sandfire Resources Limited to Report Q1, 2022 Results on Oct 28, 2021

2021-09-30 02:28:00

Sandfire Resources Limited announced that they will report Q1, 2022 results on Oct 28, 2021

Neutral

Sandfire Resources Limited Provides Production Guidance for the Year 2022

2021-09-23 01:00:00

Sandfire Resources Limited provided production guidance for the year 2022. For the period, the company production guidance on an annualized basis of some 190,000 tonnes of copper per annum. it is in the order of 100,000 to 120,000 tonnes of copper equivalent.

Neutral

Sandfire Resources Limited - Special Call

2021-09-23 00:07:00

To discuss acquisition of the MATSA Mining Complex in Spain

Positive

Sandfire Resources Limited Announces Acquisition of the MATSA Mining Complex

2021-09-23 00:07:00

Sandfire Resources Limited announced that it has entered into a binding sale and purchase agreement ("SPA") with Trafigura and Mubadala Investment Company to acquire 100% of MATSA for a total consideration of USD 1,865 million (AUD 2,572 million). MATSA is a large, high-quality, low-cost6, long-life underground copper operation located in the highly regarded Iberian Pyrite Belt of Spain. With proforma FY22 Sandfire group production forecast to be 170-194kt CuEq 7, 8, the Transaction transforms Sandfire into one of Australia's large copper focused producers. Post- acquisition, Sandfire will be a globally relevant copper producer with a diversified production base by jurisdiction and commodity, and outstanding organic growth potential. The Transaction is expected to complete in the March 2022 quarter, with key conditions precedent including Spanish Foreign Direct Investment and Anti-trust Merger approval, both of which are customary for acquisitions in Spain. Sandfire has agreed to pay a USD 300 million deposit of which USD 100 million is paid on signing of the SPA and USD 200 million to be paid 10 business days thereafter. The USD 1,865 million (AUD 2,572 million) cash consideration and associated USD 50 million (AUD 69 million) transaction costs, acquisition funding of USD 1,915 million (AUD 2,641 million), will be funded through a combination of: AUD 1,248 million (USD 905 million) fully underwritten equity raising consisting of; AUD 120 million strategic placement to AustralianSuper ("Strategic Placement"); AUD 165 million institutional placement; and AUD 963 million 1 for 1 accelerated non-renounceable entitlement offer. USD 650 million (AUD 897 million) syndicated and underwritten debt facility secured against MATSA; AUD 200 million (USD 145 million) corporate debt facility secured against DeGrussa, and AUD 297 million (USD 215 million) funded through existing cash reserves of AUD 681 million. Sandfire has entered into a binding credit-approved underwritten commitment letter and term sheet with Citi, Macquarie Bank, Natixis and Société Générale to provide the USD 650 million syndicated and underwritten debt facility. Natixis and Société Générale are existing lenders to MATSA and drawdown is expected to occur on completion of the transaction. The syndicated debt facility fully amortises over its scheduled term and contains customary provisions including a cash sweep. The facility is expected to be fully repaid within 4 years of drawdown due to forecast strong cashflows from MATSA. The syndicated debt facility will be fully supported by MATSA cashflows 12, without any required contribution from Degrussa or other Sandfire assets. Security for the facility is limited to MATSA, with no recourse to Sandfire or other Sandfire assets. Sandfire has also entered into a binding credit-approved commitment letter and term sheet with ANZ to provide a AUD 200 million corporate debt facility. This is a short-term facility for 12 months, supported by DeGrussa cash flows over its remaining mine life, with recourse to Sandfire.

Negative

Sandfire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.2474 billion.

2021-09-23 00:00:00

Sandfire Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.2474 billion. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 231,000,000 Price\Range: AUD 5.4 Transaction Features: Rights Offering; Subsequent Direct Listing

Positive

Sandfire Resources Limited (ASX:SFR) entered into a binding sale and purchase agreement to acquire Minas de Aguas Teñidas, S.A.U. (MATSA) from Mubadala Investment Company PJSC and Trafigura Pte Ltd for $1.9 billion.

2021-09-23 00:00:00

Sandfire Resources Limited (ASX:SFR) entered into a binding sale and purchase agreement to acquire Minas de Aguas Teñidas, S.A.U. (MATSA) from Mubadala Investment Company PJSC and Trafigura Pte Ltd for $1.9 billion on September 23, 2021. The agreed transaction delivers Sandfire the MATSA mining complex in Spain, which comprises the Aguas Teñidas, Magdalena and Sotiel underground mines, and a 4.7Mtpa central processing facility at Aguas Teñidas. Consideration will be paid in cash. Sandfire has agreed to pay $300 million deposit of which $100 million is paid on signing of the agreement and $200 million to be paid 10 business days thereafter. Sandfire to fund the transaction from $905 million fully underwritten equity raising consisting of; AUD 120 million ($87 million) of the Placement to AustralianSuper, AUD 165 million ($120 million) of institutional placement and AUD 963 million ($698 million) 1 for 1 accelerated non-renounceable entitlement offer; $650 million syndicated and underwritten debt facility secured against MATSA; $145 million corporate debt facility secured against DeGrussa and $215 million funded through existing cash reserves. AustralianSuper to further sub-underwrite up to AUD 150 million ($108.75 million) of the Retail Entitlement Offer. Entitlement Offer consists of AUD 626 million ($454 million) of Institutional Entitlement Offer and AUD 337 million ($244 million) of Retail Entitlement Offer. Sandfire has entered into a binding credit-approved underwritten commitment letter and term sheet with Citi, Macquarie Bank, Natixis and Société Générale to provide the $650 million syndicated and underwritten debt facility. Natixis and Société Générale are existing lenders to MATSA and drawdown is expected to occur on completion of the transaction. The syndicated debt facility fully amortises over its scheduled term (5 years from drawdown) and contains customary provisions including a cash sweep. The facility is expected to be fully repaid within 4 years of drawdown due to forecast strong cashflows from MATSA. Sandfire has also entered into a binding credit-approved commitment letter and term sheet with ANZ to provide a $145 million corporate debt facility. This is a short-term facility for ~12 months, supported by DeGrussa cash flows over its remaining mine life, with recourse to Sandfire. The syndicated and ANZ debt facilities include a number of conditions precedent to drawdown which are customary for facilities of this nature, including completion of full form documentation. As a part of equity raising, Sandfire to issue approximately 231 million new fully paid ordinary shares at an issue price of AUD 5.4 ($3.915) per share. Consideration implies an acquisition multiple of 4.8x MATSA’s FY21A EBITDA of $387 million. Sandfire intends to retain MATSA’s highly experienced in-country management team. The transaction is subject to key conditions precedent including Spanish Foreign Direct Investment, which is expected to take 3-6 months and Anti-trust Merger approval. The transaction will proceed toward completion on or around January 31, 2022. The acquisition of MATSA is expected to be accretive to Sandfire’s earnings and cash flow per share in its first full year of ownership (FY23), transforming Sandfire’s growth trajectory and providing a cornerstone asset with an anticipated mine life of over 10 years. As of October 27, 2021, The second and the final deposit of $200 million has been paid into escrow account. Sandfire’s application for Foreign Investment Authority approval in relation to Foreign Direct Investment has been submitted to the Government of Spain. Competition Authority approval submission is expected to be formally lodged early November 2021. As of December 30, 2021, Foreign Investment Authority and Competition Authority in Spain have approved the acquisition. Citigroup Global Markets Australia Pty Ltd and Macquarie Capital (Australia) Limited are acting as Joint Lead Managers and Underwriters to the Placement and Entitlement Offer. Natixis Wealth Management acted as financial advisor to the board of Sandfire. Macquarie Group Limited (ASX:MQG) acted as financial advisor and Nicholls, Luke; Simpson, Geoff of Allen & Overy LLP acted as legal advisor to Sandfire. BurnVoir Corporate Finance as debt advisor and Sarah Turner including Michael Fitzpatrick, Maree Casey, Chamali Samarasinghe, Anneka Thomson and Claudia Russo of Gilbert + Tobin acted as legal advisors to Sandfire in respect of the Equity Raising. Gaelan Cooney (Projects, Perth), Adrian Lawrence (Projects, London) and José Christian Bertram (Global Loans, Madrid) with a team included Matthew Wood, counsel Marina Tinning and Borja Vázquez, Ffion Archer and Juan Aznar, Ignacio Piñeiro, and solicitor Olufemi Omosuyi of Ashurst LLP acted as legal advisors to advise Sandfire on the debt financing of the transformational acquisition. Ernst & Young Global Limited acted as financial due diligence provider to Mubadala Investment Company PJSC and Trafigura Pte Ltd. UBS and BMO Capital Markets acted as financial advisors to Trafigura and Mubadala Investment Company. Daniel Boyle, Javier Amantegui, Samir Azzouzi and José Luis Zamarro of Clifford Chance LLP (UAE) acted as a legal advisor to Mubadala Investment Company PJSC.

Positive

Sandfire Resources Ltd Confirms the Potential to Rapidly Expand its Motheo Copper Mine in Botswana from 3.2Mtpa to 5.2Mtpa Following the Completion of Maiden Ore Reserve Estimate for the Satellite A4 Deposit and Pre-Feasibility Study for the Expansion Case

2021-09-21 22:23:00

Sandfire Resources Ltd. announced that it has confirmed the potential to rapidly expand its Motheo Copper Mine in Botswana from 3.2Mtpa to 5.2Mtpa following the completion of a maiden Ore Reserve estimate for the satellite A4 Deposit and Pre-Feasibility Study for the Expansion Case. The maiden JORC 2012 Probable Ore Reserve estimate totals 9.7Mt at 1.2% copper and 18g/t silver for 114kt of contained copper metal and 5.7Moz of contained silver. This reflects an outstanding Resource-to-Reserve conversion rate of 85% of contained copper based on the updated Mineral Resource Estimate of 9.8Mt at 1.4% Cu and 21g/t Ag for 134,000t of contained copper and 6.6Moz of contained silver for the A4 deposit announced on 21 July 2021. Given its location just 8km from the planned processing plant and infrastructure at Motheo, the maiden A4 Ore Reserve will underpin Sandfire's plans to increase production from the Base Case 3.2Mtpa production rate to 5.2Mtpa. Based on the strong economics of the PFS, Sandfire will now move directly to a Definitive Feasibility Study (DFS) for the integration of the A4 Deposit as a source of satellite ore feed for the Motheo Mining Hub. Supporting the estimation and reporting of the A4 Ore Reserve, Sandfire has completed an internal PFS for the expansion of the Motheo Processing Plant. The PFS has confirmed the strong business case for development of the A4 Deposit as part of an expanded 5.2Mtpa Motheo Production Hub strategy. In completing the Expansion Case PFS Sandfire has been able to leverage the work completed for the T3 Definitive Feasibility Study. The A4 PFS outlines the first additional satellite deposit to the Motheo Copper Mine, expanding plant production from 3.2Mtpa to 5.2Mtpa over its five-year mine life. Mine facilities include surface mining operations at the A4 Deposit, expansion of the processing plant and supporting infrastructure. The Motheo mining accommodation facility is already sized for the A4 Deposit driven expansion. New infrastructure for A4 will include a light vehicle access road from the accommodation facility, dual lane HV road to be constructed from A4 to the Motheo Plant, tyre/breakdown workshops, fuel, crib and office facilities, electrical and water supplies. The ore processing contribution of the A4 Open Pit is five years with estimated copper production contained in concentrate over the life of the A4 Open Pit of 105,000t. The estimated operating cost for the combined T3 and A4 operation varies throughout the life of mine as changes occur in the cost to mine and process the deposits. The average operating cash cost (C1) over the life-of-mine, on a 100% payable copper basis, is estimated to be approximately USD 38/tonne of ore processed or USD 1.32/lb of copper. The C1 consists of USD 0.82/lb mining costs, USD 0.38/lb processing cost inclusive of power, USD 0.32/lb site administration and offsite logistics costs, and USD 0.19/lb treatment and refining charges. A silver by-product credit of USD 0.39/lb copper is included in the C1 cost. The estimated All in Sustaining Cost (AISC), which includes C1 plus sustaining capital, is USD 1.56/lb. The project's economics are most sensitive to variation in copper price, with other sensitive parameters being copper grade and copper recovery. Development capital has the least impact on the sensitivity of NPV.

Neutral

Sandfire Resources Limited Presents at 121 Mining Investment EMEA, Nov-23-2021

2021-09-17 19:43:00

Sandfire Resources Limited Presents at 121 Mining Investment EMEA, Nov-23-2021 .

Positive

Sandfire Resources Limited Reports High Grade Drilling Results At A4 Dome

2021-09-06 22:21:00

Sandfire Resources Limited announced that step-out drilling at the A4 Dome, located 8km west of the Company's Motheo Copper Mine in Botswana, has returned an outstanding high-grade vein-hosted copper-silver intersection some 1.2km to the south- west of the current A4 Deposit Mineral Resource envelope. The new intercept, in diamond hole MO-A4-207D, is located on an interpreted structure with minimal previous drilling which potentially opens up an exciting new area for exploration in close proximity to the recently updated A4 Mineral Resource. MO-A4-207D is located approximately 1.2km south-west of the western end of the A4 Mineral Resource. A revised Mineral Resource for the A4 deposit was announced on 21 July 2021 comprising 9.8Mt at 1.4% Cu and 21g/t Ag for 134,000t of contained copper and 6.6Moz of contained silver (using a 0.5% Cu cut-off). Work is well progressed on a Pre-Feasibility Study and maiden Ore Reserve estimate, due for completion in the September quarter 2021, and a Feasibility Study for an open pit mine development is expected in the March quarter 2022. The mineralisation in MO-A4-207D occurs as coarse to semi-massive, bornite and chalcopyrite within multiple brecciated quartz-carbonate veins, with additional copper sulphides disseminated along bedding planes. The intersection is hosted by a sequence of sandstone and siltstone units within the Lower D'Kar Formation, approximately 250m above the Ngwako Pan Formation (NPF) contact. Importantly, MO-A4-207D is the first hole to effectively test the axis of the A4 periclinal anticline (A4Dome) interpreted from AEM data to the southwest of the current Mineral Resource. Similar vein-hosted copper-silver mineralisation was reported by MOD Resources in 2018 up to 1.9km northeast of MO-A4-207D and approximately 100m south of the A4 Mineral Resource.

Neutral

Sandfire Resources Limited Presents at Africa Down Under Conference 2021, Sep-01-2021 09:20 AM

2021-09-01 03:40:00

Sandfire Resources Limited Presents at Africa Down Under Conference 2021, Sep-01-2021 09:20 AM. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Australia, Australia. Speakers: Karl Matthew Simich, MD, CEO & Executive Director.

Neutral

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021

2021-08-31 23:16:00

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Australia, Australia.

Positive

Sandfire Resources Limited, 0.26 (AUD), Cash Dividend, Sep-06-2021

2021-08-31 00:00:00

Sandfire Resources Limited, 0.26 (AUD), Cash Dividend, Sep-06-2021

Positive

Sandfire Resources Limited Announces Dividend for the Period of Six Months Ended June 30, 2021, Payable on September 22, 2021

2021-08-30 22:03:00

Sandfire Resources Limited announced dividend of AUD 0.26000000 per share SFR - ORDINARY FULLY PAID, for the period of six months ended June 30, 2021. For the dividend record date is September 7, 2021, Ex-Date is September 6, 2021 and payment date is September 22, 2021.

Neutral

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022

2021-08-26 20:38:00

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022. Venue: Welgemeend Manor House, Cape Town, South Africa.

Neutral

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021

2021-08-24 16:47:00

Citigroup Inc., 13th Annual Australia & New Zealand Investment Conference 2021, Oct 13, 2021 through Oct 14, 2021. The Citi Australia & New Zealand Investment Conference is the largest Australasian conference for influential ideas and actionable advice, attracting over 1000 investors, fund managers, CFOs and CEOs from Australia, New Zealand and around the globe. Throughout the two-day conference, attendees discuss issues affecting major markets and hear insights from policy makers, economists, political leaders and CEOs of some of Australia’s most enterprising corporations.

Negative

Sandfire Resources Limited Announces Management Changes

2021-07-30 05:09:00

Sandfire Resources Limited announced The Board succession process has also increased the level of gender diversity on the Board, with two out of seven current sitting directors being female, and two out of six being female once MrHallam retires at the AGM. Sandfire continues to support the Australian Institute of company Director's (AICD) Board diversity initiatives and will continue to evolve its Board in alignment with company needs and diversity best practice. The Board has the following Board Committees: Audit Committee; Risk Committee; and People and Performance Committee. In line with the annual Strategic Review, from 1 September 2021, Sally Langer will Chair the AuditCommittee, John Richards will Chair the Risk Committee and Jennifer Morris will chair the People and Performance Committee. The company has recently appointed Dale Burgess as Country Head Botswana. Dale will shortlyrelocate to Botswana where he will be responsible for driving Sandfire's business strategy in-country and ensuring the delivery of operations at the Motheo Copper Mine, to help drive the growth strategy. Dale is a mining engineer with over 30 years of global industry experience, and he brings extensive operational, technical, leadership and management experience and a proven track record in optimising and expanding operations across a range of jurisdictions. He has held senior management positions with Barrick Gold in the Dominican Republic and PNG, Bersa Gold in Vietnam and at the Great Australian Copper Mine with CopperChem Limited. Richard Holmes, company new Head of Exploration has also recently joined the Company. Formerly the Head of Exploration at OZ Minerals Limited, Richard will be responsible for the overall strategic oversight and management of company various exploration programs outside of Botswana and Namibia. David Wilson, Head of Business Development and Technical Services, joins the company from South 32 Limited where he was VP Planning and Projects and leads company internationally focused business development team and in house technical services team. He is a Chemical Engineer with 30 years' global experience in strategy, operations, technical support, projects, and asset optimisation. Ben Crowley, who was until recently a senior Resources Analyst with Macquarie Group for over 8 years, recently joined Sandfire in the role of Head of Investor Relations.

Neutral

Sandfire Resources Limited - Special Call

2021-07-30 01:29:00

To include strategy, operations, development projects, exploration and outlook.

Neutral

Sandfire Resources Limited Provides Production Guidance for the Fiscal Year 2022

2021-07-29 10:33:00

Sandfire Resources Limited provided production guidance for the fiscal year 2022. For the year 2022, production is expected to be within the range of 64,000-68,000 tonnes of contained copper and 30,000-34,000 ounces of contained gold.

Positive

Sandfire Resources Ltd Reports Updated JORC 2012 Indicated and Inferred Mineral Resource Estimate for the A4 Copper-Silver Deposit, Located 8Km West of the Location of Company's Motheo Copper Mine in Botswana

2021-07-20 22:22:00

Sandfire Resources Ltd. reported an updated JORC 2012 Indicated and Inferred Mineral Resource Estimate for the A4 Copper-Silver Deposit, located 8km west of the location of Company's Motheo Copper Mine in Botswana, delivering a 34% increase in contained copper. The updated A4 Mineral Resource Estimate (MRE) - which now totals 9.8Mt at 1.4% Cu and 21g/t Ag for 134,000t of contained copper and 6.6Moz of contained silver (using a 0.5% Cu cut-off and constrained by a US$4.50/lb copper price optimised pit shell) - represents a key potential source of satellite ore feed for the Motheo Copper Mine, where development is underway targeting first production from the T3 Open Pit in early 2023. Importantly, recent drilling has enabled Sandfire to upgrade a significant portion of the A4 Deposit to the higher confidence Indicated Resource status. Indicated Resources now stand at 8.9Mt at 1.4% Cu and 22g/t Ag for 124,000t of contained copper and 6.2Moz of contained silver, representing 93% of the total contained copper within the A4 Deposit. The higher-confidence Indicated MRE at A4 is available for conversion to Ore Reserves, which will enable Sandfire to complete feasibility studies to support the proposed 5.2Mtpa Expansion Case for the Motheo Copper Mine. A maiden Ore Reserve is on track to be reported in the December 2021 Quarter as the foundation for a Feasibility Study targeted for completion in the March 2022 Quarter. A4 is the first deposit to be delineated outside of the substantial T3 Open Pit Deposit within the highly prospective 1,000km2 Motheo Expansion Project area. The Motheo Expansion Project is the first area of the Kalahari Copper Belt to receive systematic and focused exploration within Sandfire's extensive licence holdings in the Kalahari Copper Belt, which extend from Botswana into Namibia. A4 Deposit Geology: The A4 Deposit is located within the Ghanzi-Chobe belt in western Botswana. The stratigraphy in this belt comprises the basal Kgwebe volcanics which are unconformably overlain by Ghanzi Group sediments. The Ghanzi Group is a meta-sedimentary group comprising (in successively higher stratigraphic order) the Kuke, Ngwako Pan, D'Kar and Mamuno Formations. There is no outcrop of the Ghanzi Group within the A4 project area and the host meta-sediments are locally covered with a shallow layer of surficial calcrete, sand and soil. A4 occupies a similar structural and stratigraphic position to that of the T3 Deposit in that it occurs within a NE-SW trending periclinal anticline (A4 Dome) with a core of Ngwako Pan Formation sandstone, overlain by a succession of D'Kar Formation shale, sandstone, siltstone and carbonates. All mineralisation modelled and incorporated in the Mineral Resource estimate occurs within the D'Kar Formation. Second order (parasitic) upright to overturned folds are developed within the axial region of the periclinal anticline. The second order folds are cross-cut and displaced by moderately north-west dipping brittle-ductile, thrust-sense shear zones. These shear zones are characterised by zones of heterogeneous foliation of variable width and intensity. High strain zones have been recognised along which different sedimentary units have been juxtaposed by brittle displacement. Flat-lying to shallow-dipping zones of extensional fracture and veining are developed in the footwall of the main shear zone. These extensional zones are interpreted to have formed as shear related extensional structures during thrust movement. The extensional structures are preferentially developed within a sandstone dominated package but also penetrate into the overlying carbonate and siltstone dominated units. Copper-Silver mineralisation at A4 is developed along both the shear zones and the extensional zones. Within the shear zones copper sulphides (bornite, chalcocite and chalcopyrite) are associated with quartz-carbonate veins developed sub-parallel to the shear foliation. Within the extensional zones, copper sulphides are associated with either quartz-carbonate veins or as sulphide fill to in-situ fragmentation zones (breccias) within the host sediments. Mineralisation extends over a strike length of approximately 900m and 270m down-dip and remains open at depth and along strike. Wireframes were developed using the high strain zones and extensional structures to guide interpretation of hosted mineralisation. A nominal 0.3% Cu cut-off grade was used to determine the external boundary of the mineralised zones. Immediately above the mineralised zone, soil/sand and calcrete extends to a depth ranging from 3 - 8m below surface. Saprolite (>25% oxidation) extends from 25 - 60m below surface and saprock (1 - 25% oxidation) from 55 - 85m below surface. Where oxidised, primary copper sulphides are altered to malachite, chrysocolla or covellite.

Neutral

Sandfire Resources Limited, 2021 Earnings Call, Aug 31, 2021

2021-07-14 02:50:00

Sandfire Resources Limited, 2021 Earnings Call, Aug 31, 2021

Neutral

Sandfire Resources Limited to Report Q4, 2021 Results on Jul 29, 2021

2021-07-14 00:00:00

Sandfire Resources Limited announced that they will report Q4, 2021 results on Jul 29, 2021

Positive

Sandfire Resources Ltd Provides Production Guidance for the Year Ended June 30, 2021

2021-07-13 22:22:00

Sandfire Resources Ltd. provided production guidance for the year ended June 30, 2021. The company provided that it has exceeded annual copper production guidance for the 12 months to 30 June 2021, producing 70,845 tonnes of contained copper and 39,459 ounces of contained gold at a C1 unit operating cost of USD 0.81 per pound of payable copper.

Positive

Sandfire Resources Limited Reports Unaudited Revenue Results for the Year 2021

2021-07-13 22:22:00

Sandfire Resources Limited reported unaudited revenue results for the year 2021. For the year, the company reported total sales revenue of $813 million.

Neutral

121 Group Ltd, 121 MINING INVESTMENT EMEA, Nov 23, 2021 through Nov 25, 2021

2021-07-08 02:42:00

121 Group Ltd, 121 MINING INVESTMENT EMEA, Nov 23, 2021 through Nov 25, 2021.

Neutral

Sandfire Resources Limited Receives Mining Licence for the Motheo Project

2021-07-07 00:57:00

Perenti Global Limited (Perenti or the Company) reported that Sandfire Resources Limited (Sandfire) has successfully satisfied one of the two primary conditions required for the finalisation of the Motheo contract, after receiving the Mining Licence for the Motheo Project. The contract will have an estimated value of USD 496 million (AUD 648 million at 100% basis) over an initial term of 7 years and 3 months with a provision for a one-year extension. Sandfire and Perenti are continuing work collaboratively towards the finalisation of the contract, which is expected in the near-term. Furthermore, since the announcement of award of the contract for the Motheo Project on 9 June 2021, Perenti and its subsidiary, African Mining Services ("AMS"), have continued to make progress in identifying suitable local Botswana Joint Venture partners for the project.

Positive

Sandfire Secures Mining Licence for Motheo Copper Mine

2021-07-06 23:54:00

Sandfire Resources Limited announced that the Mining Licence has been granted for its Motheo Copper Mine in Botswana, representing the final major permitting milestone required for full-scale construction of the project to commence. Initial site works at Motheo commenced earlier this year, with sterilisation drilling, a 15km access road and construction of a 200-person camp already well advanced. Following the award of the Mining Licence, Sandfire will now mobilise additional personnel to site to commence construction of the process plant and other infrastructure. Orders have already been placed for all key process equipment and long-lead items.

Neutral

Sandfire Resources Limited to Report Fiscal Year 2021 Results on Aug 31, 2021

2021-07-01 02:12:00

Sandfire Resources Limited announced that they will report fiscal year 2021 results on Aug 31, 2021

Neutral

Sandfire Resources Limited Presents at Diggers and Dealers Mining Forum, Aug-03-2021 04:05 PM

2021-06-30 19:09:00

Sandfire Resources Limited Presents at Diggers and Dealers Mining Forum, Aug-03-2021 04:05 PM. Venue: Goldfields Arts Centre, Cheetham Street, Kalgoolie, Western Australia, Australia. Speakers: Karl Matthew Simich, MD, CEO & Executive Director.

Neutral

Sandfire Resources Limited, Q4 2021 Earnings Call, Jul 29, 2021

2021-06-29 02:25:00

Sandfire Resources Limited, Q4 2021 Earnings Call, Jul 29, 2021

Fundamental Summary

According to their recent financial report, which was published on 2021-08-30, Sandfire had several impressive financial metrics that should make them more attractive than their peers going forward. Specifically, their growth, value, and income factors indicate a well-planned and balanced effort, which is generating exciting growth. There should be significant upside potential for the stock looking forward. As such, Sandfire received an overall score of 79 and a BUY recommendation.

Sandfire announced earnings results for the full year ended June 30, 2021. For the full year, the company announced sales was AUD 812.957 million compared to AUD 656.753 million a year ago. Net income was AUD 171.641 million compared to AUD 74.054 million a year ago. Basic earnings per share from continuing operations was AUD 0.9629 compared to AUD 0.4288 a year ago.

Business Description

Sandfire explores for, evaluates, and develops mineral tenements and projects in Australia and internationally. It primarily explores for copper, gold, and silver, as well as sulphide deposits. The company owns a 100% interest in the DeGrussa copper-gold mine located in the Bryah Basin mineral province of Western Australia; and 87% interest in the Black Butte copper project situated in central Montana, the United States. It also holds interest in the Tshukudu project located in Botswana and Namibia within the Kalahari Copper Belt; and the Motheo copper project situated in the Kalahari Copper Belt in Botswana. Sandfire was incorporated in 2003 and is based in West Perth, Australia.

Sector Overview

Sandfire is included in the Metals & Mining according to GICS (global industry classification standard). The Metals & Mining industry is included in the Materials sector. It includes the producers of aluminum, iron, steel, gold, other diversified metals and minerals, and their related products, as well as the mining and production the above materials. Sandfire's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 1,157.9 19.1% 64
Liabilities 247.4 48.6% 41
Price to Book 1.3 12.8% 73
Cash & Equivalents 573.7 70.9% 87
Equity 907.0 13.2% 87
EBITDA 449.5 17.9% 73
Total Revenues 811.4 16.2% 64
Parameter Value Change Score
Return on Equity 20.5 59.7% 74
Net Cashflow 282.6 110.8% 73
Capital Expenditure -121.2 -11.7% 63
Asset Turnover 0.8 5.3% 71
Free Cashflow 2.0 81.2% 85

* All values are TTM

The below chart reflects Sandfire's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Sandfire's peer average final assessment score stands on 70.0, Sandfire's score is 79.

  •  SFR
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
BHP Group Limited 208.5B 58 71 75
Hold
69
69 0 1
Fortescue Metals Group Limited 55.0B 65 67 75
Hold
68
68 1 1
Newcrest Mining Limited 19.4B 52 66 57
Underperform
56
56 2 1
South32 Limited 18.7B 84 72 78
Buy
82
82 3 1
Mineral Resources Limited 9.2B 55 63 61
Underperform
56
56 4 1
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 5 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 6 1
IGO Limited 7.8B 50 78 72
Hold
71
71 7 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 8 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 9 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 10 1
OZ Minerals Limited 6.2B 74 66 78
Hold
74
74 11 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 12 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 13 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 14 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 15 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 16 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 17 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 18 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 19 1
Sims Limited 2.7B 68 69 82
Hold
74
74 20 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 21 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 22 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 23 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 24 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 25 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 26 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 27 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 28 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 29 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 30 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 31 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 32 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 33 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 34 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 35 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 36 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 37 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 38 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 39 1
Equigold NL 854.0M 50 65 87
Hold
67
67 40 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 41 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 42 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 43 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 44 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 45 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 46 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 47 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 48 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 49 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 50 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 51 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 52 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 53 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 54 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 55 1
Adriatic Metals PLC 528.8M 66 73 68
Hold
71
71 56 1
Argosy Minerals Limited 467.8M 66 73 68
Hold
71
71 57 1
Perenti Global Limited 461.4M 60 78 67
Hold
72
72 58 1
Champion Iron Limited 441.1M 58 71 55
Hold
64
64 59 1
Panoramic Resources Limited 420.4M 58 71 67
Hold
66
66 60 1
Hastings Technology Metals Limited 404.8M 65 68 67
Hold
68
68 61 1
Alkane Resources Limited 402.0M 78 70 68
Hold
73
73 62 1
Centaurus Metals Limited 397.2M 66 73 68
Hold
71
71 63 1
Bowen Coking Coal Limited 385.5M 66 73 68
Hold
71
71 64 1
Jupiter Mines Limited 372.2M 66 81 50
Hold
64
64 65 1
Galan Lithium Limited 362.2M 66 73 68
Hold
71
71 66 1
Talga Group Ltd 359.9M 53 60 62
Underperform
53
53 67 1
BCI Minerals Limited 349.8M 71 68 60
Hold
66
66 68 1
Metals X Limited 344.8M 68 87 68
Buy
82
82 69 1
Pantoro Limited 330.8M 66 73 68
Hold
71
71 70 1
Aurelia Metals Limited 327.8M 65 58 60
Underperform
56
56 71 1
Macmahon Holdings Limited 283.7M 68 65 62
Hold
66
66 72 1
Lotus Resources Limited 277.3M 66 73 68
Hold
71
71 73 1
Firefinch Limited 236.2M 66 73 68
Hold
71
71 74 1
Andromeda Metals Limited 229.8M 66 73 68
Hold
71
71 75 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Sandfire's stock is now priced above its 5-day, but below its 50-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a positive setup in the near-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Sandfire's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 52.

Bearish 52
Close Price 4.77
52W Low 4.5
52W High 7.43
5D MA 4.66
50D MA 5.31
200D MA 5.93
MACD -0.22
RSI 2.61
STOCH 19.15

Balance Sheet Analysis

Overall, Sandfire's critical balance sheet metrics appear to signal strong support and a high likelihood of positive growth going forward. Sandfire's management was effective in improving its cash and cash equivalents metrics, which now sit at 573.7. This represents 70.9% change from the last reporting period. This impressive growth, specifically in contrast to their industry peers' performance, should support an upswing in the company's stock price. Therefore, its cash and cash equivalents movement earned a score of 87. Also, Sandfire reported solid equity numbers this period. At filing, equity was reported as 907.0, representing 13.2% change from the previous period. Companies in the same sector and market capitalization will usually be affected by up to 5.9 percent by this parameter. These equity changes appear exceptionally balanced and impressive objectively compared to their peers. The company's equity movement component, therefore, received a grade of 87. On the other hand, Liabilities, jumped out as looking problematic. At filing, Sandfire's liabilities were 247.4, representing a 48.6% change from the previous period. Sandfire's liabilities changes appear mediocre compared to their peers. Contextually, they convey that management finds balancing asset growth, resource allocation, and liabilities challenging. Therefore, we rated their liabilities movement with a score of 41. Their balance sheet received an overall score of 82.

Parameter Value Change Score
Assets 1,157.9 19.1% 64
Liabilities 247.4 48.6% 41
Price to Book 1.3 12.8% 73
Cash & Equivalents 573.7 70.9% 87
Equity 907.0 13.2% 87
* All values are TTM

The below chart describes Sandfire's performance as reflected on its balance sheet with respect to its peers. While Sandfire received a balance sheet score of 82, the average of its peers stands on 73.0.

  •  SFR
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
BHP Group Limited 208.5B 74 92 47 52 76 58 0 1
Fortescue Metals Group Limited 55.0B 83 66 68 55 69 65 1 1
Newcrest Mining Limited 19.4B 85 72 46 46 73 52 2 1
South32 Limited 18.7B 74 73 80 79 74 84 3 1
Mineral Resources Limited 9.2B 83 73 52 42 90 55 4 1
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 5 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 6 1
IGO Limited 7.8B 43 37 80 42 63 50 7 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 8 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 9 1
Allkem Limited 6.9B 53 64 44 65 89 57 10 1
OZ Minerals Limited 6.2B 87 72 72 69 72 74 11 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 12 1
Alumina Limited 4.4B 51 69 50 46 84 50 13 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 14 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 15 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 16 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 17 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 18 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 19 1
Sims Limited 2.7B 85 72 83 49 57 68 20 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 21 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 22 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 23 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 24 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 25 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 26 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 27 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 28 1
West African Resources Limited 1.3B 92 56 81 92 42 87 29 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 30 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 31 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 32 1
Lake Resources NL 1.2B 78 74 55 64 78 66 33 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 34 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 35 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 36 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 37 1
ioneer Ltd 867.9M 98 56 80 86 52 85 38 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 39 1
Equigold NL 854.0M 57 46 86 50 45 50 40 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 41 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 42 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 43 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 44 1
Imdex Limited 796.9M 59 69 83 61 75 71 45 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 46 1
St Barbara Limited 701.5M 80 69 51 49 61 53 47 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 48 1
Red 5 Limited 671.6M 49 45 39 55 96 47 49 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 50 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 51 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 52 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 53 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 54 1
Neometals Ltd 531.9M 97 77 46 50 97 60 55 1
Adriatic Metals PLC 528.8M 78 74 55 64 78 66 56 1
Argosy Minerals Limited 467.8M 78 74 55 64 78 66 57 1
Perenti Global Limited 461.4M 68 71 51 61 74 60 58 1
Champion Iron Limited 441.1M 66 49 73 47 67 58 59 1
Panoramic Resources Limited 420.4M 78 75 43 58 85 58 60 1
Hastings Technology Metals Limited 404.8M 75 72 56 67 67 65 61 1
Alkane Resources Limited 402.0M 45 56 83 88 40 78 62 1
Centaurus Metals Limited 397.2M 78 74 55 64 78 66 63 1
Bowen Coking Coal Limited 385.5M 78 74 55 64 78 66 64 1
Jupiter Mines Limited 372.2M 63 93 46 52 80 66 65 1
Galan Lithium Limited 362.2M 78 74 55 64 78 66 66 1
Talga Group Ltd 359.9M 90 78 38 45 95 53 67 1
BCI Minerals Limited 349.8M 86 73 58 67 82 71 68 1
Metals X Limited 344.8M 90 77 50 67 80 68 69 1
Pantoro Limited 330.8M 78 74 55 64 78 66 70 1
Aurelia Metals Limited 327.8M 85 69 59 60 72 65 71 1
Macmahon Holdings Limited 283.7M 47 61 72 78 44 68 72 1
Lotus Resources Limited 277.3M 78 74 55 64 78 66 73 1
Firefinch Limited 236.2M 78 74 55 64 78 66 74 1
Andromeda Metals Limited 229.8M 78 74 55 64 78 66 75 1

Income Statement Analysis

Return Factors and EBITDA stand out as the most significant drivers of Sandfire's income statement's strength. In this filing, Sandfire reported a return on equity (ROE) ratio of 20.5, which represents a change of 59.7%. Its return factor metrics are even more remarkable when compared to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 74. Also, Sandfire's management was effective in improving its EBIDTA, which now sits at 449.5 and represents a 17.9% change from the last reporting period. Companies in the same industry and market capitalization are typically affected by this parameter by up to 18.3%. The company is headed in the right direction regarding EBITDA, exhibiting efficient capital controls and strong overall financial performance. Consequently, their EBITDA movement received a grade of 73. That said, one metric, Revenue Efficiency, stood out as particularly concerning. Sandfire's revenue efficiency metrics look especially concerning this period, highlighting issues management is having controlling and reducing expenses while increasing earnings. This metric might have a 22.8 percent impact on companies in the same industry and with the same market capitalization. Their revenue efficiency, specifically in contrast to their industry peers', isn't encouraging. Its revenue efficiency, therefore, received a grade of 64. Therefore, we scored its income statement a 69.

Parameter Value Change Score
EBITDA 449.5 17.9% 73
Total Revenues 811.4 16.2% 64
Return on Equity 20.5 59.7% 74
* All values are TTM

The below chart describes Sandfire's performance as reflected on its income statement with respect to its peers. While Sandfire received a income statement score of 69 , the average of its peers stands on 70.0.

  •  SFR
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
BHP Group Limited 208.5B 64 79 79 71 0 1
Fortescue Metals Group Limited 55.0B 58 78 75 67 1 1
Newcrest Mining Limited 19.4B 95 45 48 66 2 1
South32 Limited 18.7B 47 94 95 72 3 1
Mineral Resources Limited 9.2B 94 42 44 63 4 1
Lynas Rare Earths Limited 8.3B 50 91 83 69 5 1
Northern Star Resources Limited 8.2B 48 66 68 56 6 1
IGO Limited 7.8B 98 72 48 78 7 1
BlueScope Steel Limited 7.3B 86 71 66 72 8 1
Pilbara Minerals Limited 6.9B 38 96 96 69 9 1
Allkem Limited 6.9B 46 75 74 61 10 1
OZ Minerals Limited 6.2B 48 82 82 66 11 1
Evolution Mining Limited 4.8B 94 46 43 64 12 1
Alumina Limited 4.4B 87 73 76 79 13 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 14 1
Iluka Resources Limited 3.9B 50 62 89 60 15 1
Andean Resources Ltd. 3.7B 37 89 91 97 16 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 17 1
Nickel Industries Limited 2.8B 66 61 55 60 18 1
AVZ Minerals Limited 2.8B 87 63 41 68 19 1
Sims Limited 2.7B 45 90 92 69 20 1
Zimplats Holdings Limited 2.6B 94 50 52 68 21 1
Liontown Resources Limited 2.4B 87 78 91 84 22 1
Perseus Mining Limited 2.3B 42 88 83 65 23 1
Deterra Royalties Limited 2.3B 45 83 66 61 24 1
Core Lithium Ltd 1.8B 87 47 81 70 25 1
Chalice Mining Limited 1.5B 99 65 76 81 26 1
Grange Resources Limited 1.5B 74 61 61 64 27 1
Capricorn Metals Ltd 1.3B 37 98 97 69 28 1
West African Resources Limited 1.3B 43 84 63 59 29 1
Silver Lake Resources Limited 1.2B 95 42 41 63 30 1
De Grey Mining Limited 1.2B 44 45 76 47 31 1
Gold Road Resources Limited 1.2B 94 48 49 67 32 1
Lake Resources NL 1.2B 87 62 66 73 33 1
Sayona Mining Limited 1.2B 87 62 66 73 34 1
Regis Resources Limited 1.1B 65 50 45 53 35 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 36 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 37 1
ioneer Ltd 867.9M 87 55 60 69 38 1
Syrah Resources Limited 856.9M 38 67 62 50 39 1
Equigold NL 854.0M 79 44 91 65 40 1
Ramelius Resources Limited 828.4M 94 51 48 68 41 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 42 1
Jervois Global Limited 813.1M 37 94 93 71 43 1
Mincor Resources NL 808.9M 98 57 59 77 44 1
Imdex Limited 796.9M 77 60 56 56 45 1
Bellevue Gold Limited 722.0M 87 44 83 69 46 1
St Barbara Limited 701.5M 93 56 53 70 47 1
Emerald Resources NL 679.4M 37 96 94 68 48 1
Red 5 Limited 671.6M 95 58 66 75 49 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 50 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 51 1
Westgold Resources Limited 575.3M 84 58 43 65 52 1
OM Holdings Limited 563.6M 50 96 97 75 53 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 54 1
Neometals Ltd 531.9M 87 66 56 72 55 1
Adriatic Metals PLC 528.8M 87 62 66 73 56 1
Argosy Minerals Limited 467.8M 87 62 66 73 57 1
Perenti Global Limited 461.4M 73 81 87 78 58 1
Champion Iron Limited 441.1M 95 50 45 71 59 1
Panoramic Resources Limited 420.4M 95 50 62 71 60 1
Hastings Technology Metals Limited 404.8M 90 51 53 68 61 1
Alkane Resources Limited 402.0M 68 74 74 70 62 1
Centaurus Metals Limited 397.2M 87 62 66 73 63 1
Bowen Coking Coal Limited 385.5M 87 62 66 73 64 1
Jupiter Mines Limited 372.2M 96 46 50 81 65 1
Galan Lithium Limited 362.2M 87 62 66 73 66 1
Talga Group Ltd 359.9M 87 40 47 60 67 1
BCI Minerals Limited 349.8M 94 47 56 68 68 1
Metals X Limited 344.8M 94 84 79 87 69 1
Pantoro Limited 330.8M 87 62 66 73 70 1
Aurelia Metals Limited 327.8M 68 58 49 58 71 1
Macmahon Holdings Limited 283.7M 88 51 48 65 72 1
Lotus Resources Limited 277.3M 87 62 66 73 73 1
Firefinch Limited 236.2M 87 62 66 73 74 1
Andromeda Metals Limited 229.8M 87 62 66 73 75 1

Cash Flow Analysis

Free Cash flow and Net Cash Flow stand out as the most significant drivers of Sandfire's cash flow's strength. Free cash flow numbers published by Sandfire were 2.0, which was a 81.2% change from the previous filing. This parameter coud affect companies in the same industry and market capitalization by up to 3.7%. The company's free cash flow metrics are especially strong compared to its peers. Management seems to balance cash flow management, asset growth, and resource allocations in general. Consequently, their free cash flow movement received a grade of 85. Also, Sandfire's strong net cash flow numbers, which were 282.6 in this filing, showed a 110.8% change from the last period. This industry-leading net cash flow momentum should reinforce broader positive momentum for its's stock price going forward. Hence, its net cash flow earned a score of 73. That said, one metric, Capital Expenditure, stood out as particularly concerning. Sandfire's management did not a remarkable job this period managing capital expenditures (CapEx). In terms of the raw numbers, CapEx was reported as -121.2, which represents a -11.7% change from the last period. The company's disappointing CapEx growth is expected to stunt the momentum they hoped for this period. Therefore, their CapEx movement component earned a score of 63. Their cash flow received an overall score of 76.

Parameter Value Change Score
Net Cashflow 282.6 110.8% 73
Capital Expenditure -121.2 -11.7% 63
Asset Turnover 0.8 5.3% 71
Free Cashflow 2.0 81.2% 85
* All values are TTM

The below chart describes Sandfire's performance as reflected on its cash flow with respect to its peers. While Sandfire received a cash flow score of 76, the average of its peers stands on 69.0.

  •  SFR
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
BHP Group Limited 208.5B 70 77 80 71 75 0 1
Fortescue Metals Group Limited 55.0B 74 78 69 74 75 1 1
Newcrest Mining Limited 19.4B 58 48 63 55 57 2 1
South32 Limited 18.7B 72 86 82 75 78 3 1
Mineral Resources Limited 9.2B 58 69 54 63 61 4 1
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 5 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 6 1
IGO Limited 7.8B 80 73 66 57 72 7 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 8 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 9 1
Allkem Limited 6.9B 75 77 70 84 82 10 1
OZ Minerals Limited 6.2B 69 97 66 73 78 11 1
Evolution Mining Limited 4.8B 54 49 61 39 50 12 1
Alumina Limited 4.4B 68 74 76 70 72 13 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 14 1
Iluka Resources Limited 3.9B 75 84 52 74 74 15 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 16 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 17 1
Nickel Industries Limited 2.8B 75 63 76 61 70 18 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 19 1
Sims Limited 2.7B 83 98 56 82 82 20 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 21 1
Liontown Resources Limited 2.4B 59 69 76 51 62 22 1
Perseus Mining Limited 2.3B 69 94 90 83 83 23 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 24 1
Core Lithium Ltd 1.8B 61 69 76 72 69 25 1
Chalice Mining Limited 1.5B 53 62 84 38 55 26 1
Grange Resources Limited 1.5B 75 79 76 62 73 27 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 28 1
West African Resources Limited 1.3B 73 84 42 58 66 29 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 30 1
De Grey Mining Limited 1.2B 80 69 76 61 73 31 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 32 1
Lake Resources NL 1.2B 68 69 76 60 68 33 1
Sayona Mining Limited 1.2B 68 69 76 60 68 34 1
Regis Resources Limited 1.1B 65 76 68 69 69 35 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 36 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 37 1
ioneer Ltd 867.9M 47 57 54 51 51 38 1
Syrah Resources Limited 856.9M 59 58 43 98 69 39 1
Equigold NL 854.0M 91 69 72 84 87 40 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 41 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 42 1
Jervois Global Limited 813.1M 43 51 38 82 54 43 1
Mincor Resources NL 808.9M 63 63 72 45 57 44 1
Imdex Limited 796.9M 71 72 79 73 74 45 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 46 1
St Barbara Limited 701.5M 54 46 71 55 56 47 1
Emerald Resources NL 679.4M 84 81 80 81 84 48 1
Red 5 Limited 671.6M 68 49 48 59 59 49 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 50 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 51 1
Westgold Resources Limited 575.3M 59 69 71 59 63 52 1
OM Holdings Limited 563.6M 75 90 90 75 82 53 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 54 1
Neometals Ltd 531.9M 62 54 71 52 60 55 1
Adriatic Metals PLC 528.8M 68 69 76 60 68 56 1
Argosy Minerals Limited 467.8M 68 69 76 60 68 57 1
Perenti Global Limited 461.4M 61 69 54 78 67 58 1
Champion Iron Limited 441.1M 56 69 51 49 55 59 1
Panoramic Resources Limited 420.4M 69 69 79 54 67 60 1
Hastings Technology Metals Limited 404.8M 65 68 74 57 67 61 1
Alkane Resources Limited 402.0M 69 58 68 71 68 62 1
Centaurus Metals Limited 397.2M 68 69 76 60 68 63 1
Bowen Coking Coal Limited 385.5M 68 69 76 60 68 64 1
Jupiter Mines Limited 372.2M 51 51 84 44 50 65 1
Galan Lithium Limited 362.2M 68 69 76 60 68 66 1
Talga Group Ltd 359.9M 53 48 76 70 62 67 1
BCI Minerals Limited 349.8M 62 54 76 49 60 68 1
Metals X Limited 344.8M 70 81 72 55 68 69 1
Pantoro Limited 330.8M 68 69 76 60 68 70 1
Aurelia Metals Limited 327.8M 72 58 54 49 60 71 1
Macmahon Holdings Limited 283.7M 72 53 46 57 62 72 1
Lotus Resources Limited 277.3M 68 69 76 60 68 73 1
Firefinch Limited 236.2M 68 69 76 60 68 74 1
Andromeda Metals Limited 229.8M 68 69 76 60 68 75 1

This report is intended for general guidance and information purposes only and under no circumstances is tailored to a specific factor or variable related to its reader or intended to be used or considered as financial or investment advice, a solicitation of any offer, a recommendation, or an offer to sell or buy any securities or other form of a financial asset. For the full disclaimer, click here.