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Sandfire Resources NL (ASX:SFR) has revealed a maiden interim profit of $79.1 million on the back of ramping up production at its flagship asset in Western Australia.
The profit was achieved in the same period the mineral explorer produced first copper concentrate from its wholly owned Degrussa Copper-Gold project.
Managing Director Karl Simich has described the result as outstanding and excellent and advised Sandfire will now focus on completing the ramp-up into the middle of 2013.
Mr Simich says generating strong cashflows has enabled Sandfire to deposit its first finance facility funds and maintain a strong focus on near-mine exploration and organic growth opportunities.
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