The Sandfire Resouces NL (ASX: SFR) share price closed 3.3% higher today after the copper and gold miner updated the market as to its performance for the quarter ending December 31 2018.
For the period Sandfire produced 16,888 tonnes of copper and 10,427 ounces of gold, with a total of $272 million in sales over the six months to December 31 2018.
It also maintained full year guidance for total production of 63,000 – 67,000 tonnes of copper and 37,000 to 40,000 ounces of gold.
As at the end of the year the group had $179 million cash on hand to fund further exploration projects or other liabilities. It is actively exploring copper tenements in North America and Australia.
The group has a market value around $1.1 billion after reporting an FY 2018 profit of $123 million on revenue of $606.7 million. Total dividends per share came in at 27 cents. The miner will hand in its interim profit report this February.
