Sandfire Resources Limited (AU:SFR) has released an update.
Sandfire Resources Limited maintains its FY24 Copper Equivalent production guidance amidst a $18M reduction in operating and exploration costs, balanced by a higher D&A expense and an $18M cut in capital expenditure, largely by deferring Motheo activities to FY25. The company achieved a record annualized mining rate of 4.7Mtpa at MATSA and is working towards a strong year-end finish after overcoming a pipeline blockage. Preliminary unaudited results for Q3 FY24 show approximately $206M in sales revenue with EBITDA at about $93M, while net debt increased by $5M to $481M.
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