The company’s half-year profit after tax jumped to $A35.9 million, from $15.7 million in the same period of 2015.
Cashflow from operations jumped to $96.7 million from $47.6 million.
Sandfire declared an interim fully franked dividend of 5c per share, up from 2c per share for the previous corresponding period.
The company had $107.1 million cash at the end of December, and repaid the remainder of its debt in January.
The $50 million facility remains available.
There’s a possibility it could be used for the development of the high-grade Monty discovery near DeGrussa.
The feasibility study for Monty is in the final stages and due to be released in the next 2-3 weeks.
Sandfire chief operating officer Martin Reed said the study results were pleasing.
“It was expected to be a favourable result and that has been the case,” he said on a teleconference.
The draft report is with 30% Monty partner Talisman Mining, and Reed said there was some “housekeeping” matters before it could be made public.
He said as well as the study itself, an updated ore reserve and the joint venture agreement would need to be finalised.
“All of these three things are now close to completion,” Reed said.
The company said its strong balance sheet would allow it to be flexible when developing Monty, while the strengthening copper market would only help things.
Sandfire shares hit a near four-year high of $6.99 intraday last week, coinciding with the copper price breaking through the $US6100 per tonne mark.
Copper sits at just above $6000/t and Sandfire shares were at $A6.86, up by 1.3%.
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