From an article about Copper
Hopefully we were able to squeeze Sandfire's nutz hard and got a bargain on those promising grounds we bought off them
Sounds like they were desperate to raise funds for other acquisitions
https://www.marketindex.com.au/news/investing-in-copper-a-comprehensive-guide-for-asx-investorsThe same goes for Sandfire Resources, which acquired the Spain-based MATSA operation in February 2022 for US$1.865 billion.
Sandfire’s flagship DeGrussa operations generated $68.6 million in earnings for the half-year ended 31 December 2022. This would be offset by a $34.3 million loss from MATSA and an additional $36.2 million associated with various exploration and employee benefit expenses.
Sandfire failed to make operating cash flow for the first-half of FY23, with outflows of $6.8 million. When combined with financing and investing activities, cash outflows ballooned to $188.4 million.
From an article about CopperHopefully we were able to squeeze...
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