Article in today's West Australian. I Thought I would post it as there's been very little news from Sandfire of late!
Despite sitting on WA's best copper deposit, a lack of exploration news from Sandfire Resources and others in the Doolgunna area has taken the share price zing out of Karl Simich's company.
Sandfire shares are at $6.90 having traded above $8 at the start of the year. In fairness, the overall market is down, too.
Not that Simich and Sandfire have taken the foot off the pedal.
Early stage construction at the Degrussa open pit and underground mine have begun while Sandfire completes the definitive feasibility study and finalises finance for the $400 million project over the next few weeks. Exploration also continues.
Perhaps the trigger for renewed shareholder interest will come from another Doolgunna hopeful, Thundelarra Exploration.
Thundelarra ownes the Red Bore copper-gold deposit only 500m from DeGrussa and last year scored some high grade hits.
Thundelarra is spending some of its $14.9 million on a diamond drilling program at Red Bore.
Like Sandfire, Thundelarra's stock is languishing. A repeat of last year's drilling success could change all that.
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