$ 400m price put on pro­ject

Townsville Bulletin - - Investor -

SAND­FIRE Re­sources NL’s board has put a $ 400 mil­lion price tag on its De­Grussa cop­per-gold pro­ject in West­ern Aus­tralia. The com­pany has con­di­tion­ally ap­proved de­vel­op­ment of the pro­ject and ex­pects to be­gin ini­tial open pit pro­duc­tion by the first quar­ter of 2012, with un­der­ground pro­duc­tion to fol­low in the third quar­ter of that year. It said the ap­proval was sub­ject to a de­fin­i­tive fea­si­bil­ity study Shares in Sand­fire were up nine cents at $ 7.24.

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