30.7.18 article
https://www.fnarena.com/index.php/2018/07/30/delay-in-high-grade-shades-sandfire-outlook/
Delay in High Grade Shades Sandfire Outlook
Delays to the high-grade feed at Monty and the looming end to DeGrussa's mine life are pressuring Sandfire Resources to find and develop more copper-gold resources.
-FY19 guidance below expectations because of delays in accessing higher grades
Sandfire Resources ((SFR)) comfortably met FY18 guidance for gold and copper production and remains disciplined on operating costs, yet FY19 guidance is below expectations because of a delay in access to higher grade ore at Monty.
While this is simply a deferral, Morgans suspects the latest news has knocked the market's confidence in the stock. Citi agrees, pointing out that while the copper ramp-up is delayed into FY20, it is not lost. The broker expects FY20 copper output will increase to 87,000t with sustained high grades at Monty.
30.7.18 article...
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