DeGrussa has now transitioned to a wholly underground
operation, with a forecast production for FY2014 of
65-75,000
tonnes of copper and 35-45,000 ounces of gold at an
impressively low C1 unit cash operating cost of US$1.05-1.15
per pound of payable copper.
That should underpin a very robust earnings and growth
outlook for Sandfire – as evidenced by the impressive lineup
of 10 or more brokers and investment banks which now cover
the stock.
“
Our first full year of operations saw the delivery of a strong
maiden annual profit result together with a number of other
important achievements, of which we can all justifiably feel
proud,” said Karl Simich.
“
This included the successful transition from open pit
to underground operations, the ramp up of the DeGrussa
concentrator and a significant investment in underground
capital development to secure the long-term future of the mine.
“
In the coming 12 months we expect to ramp up our
underground exploration activities as we begin to target
potential extensions of the known deposits from underground
drilling positions. This is a very exciting time for the project,”
he added.
“
At the same time, we are actively pursuing exploration and
business development activities. This is all part of our longer
term objective of building a genuinely diversified Australian
mining company.”
WA’s Newest
Gold Producer
ASX: DRM
Doray Minerals is Western Australia’s
newest high-grade gold miner and producer at its
Andy Well Gold Project in the northern Murchison
region of WA. The Company’s transformation from
junior explorer to gold producer in just 3.5 years has
been meteoric. There is near-term project upside
with the potential for additional deposits and the
Company has an excellent track record of meeting
milestones on time and under budget. A strategic
portfolio of gold properties in the Murchison and
South Australia places the Company in an enviable
position of future potential upside and returns to
shareholders. Led by an experienced team with
a track record of discovery, development and
production, Doray is now a low-cost gold producer
and self-funded explorer.
www.dorayminerals.com.au
Top right: Hauling ore from the
Evans decline at DeGrussa
Bottom right: Sandfire geologist
Louise Christie with drilling crew
at Doolgunna
Below: Stunning copper oxide
mineralisation from DeGrussa open pit