if only rocklands was in w.a not qld

SFR - S/P $7.25 ! check out today's ASX announcement

Extract below !


ASX/Media Release 4 March 2011
DEGRUSSA PROJECT: APPROVED FOR DEVELOPMENT
MAIDEN ORE RESERVE STATEMENT FOR UNDERGROUND COPPER-GOLD MINEHIGHLIGHTS

Pre-Feasibility Study
Sandfire Board conditionally approves development of the DeGrussa VMS Copper-Gold Project on the strength of a robust Pre-Feasibility Study, the key outcomes of which include: o Life-of-mine extraction of a total of 10.68Mt of material grading 5.0% Cu, 1.7g/t Au
(531,000t contained copper, 579,000oz contained gold) via open pit and underground operations

o 1.5Mtpa on-site concentrator
o Production of 60-70,000tpa of payable copper metal and 40-45,000oz pa of gold
o Initial scheduled mine life of 7+ years
o C1 cash operating costs of US$0.90-$1.00/lb including gold credits
o Pre-tax operating cash flow of A$330-350M per annum (from FY 2012/2013)
o Plant and infrastructure capital estimate of A$270M
o Pre-production mine development of A$130M
Ore Reserves

Maiden underground Probable Ore Reserve of 8.02Mt @ 5.2% Cu, 1.8g/t Au (415,000t contained copper, 456,000oz contained gold) ? 93% conversion of Indicated Resources of
Primary Massive Sulphide. Mineral Resources

Further work underway to determine Ore Reserves in open pit Indicated Resources of highgrade supergene chalcocite of 0.25Mt grading 17.6% Cu (including 0.15Mt at 25.6%Cu of
direct shipping material) currently included in the life-of-mine production plan.

Optimisation of the metallurgical process route continuing on open pit oxide copper Resources
of 3.58Mt @ 1.23% Cu and 0.5g/t Au (44,000t contained copper, 56,000oz contained gold) and
zinc known to be present potential revenue from which is not currently included in the life-ofmine
production plan with a view to determining Ore Reserves.

2.32Mt of Inferred Resources in Conductor 1, 4 and 5 at 4.3% Cu and 2.0g/t Au (100,000t contained copper and 149,000t contained gold) planned to be upgraded to Indicated status, available for determination of Ore Reserves, by future underground drilling.
Definitive Feasibility Study

Definitive Feasibility Study on track to be finalised in conjunction with an appropriate funding package in Q2 of 2011, enabling pre-strip of the open pit, underground development and on-site construction to commence during the same quarter