Re­fi­nanc­ing is on track

Townsville Bulletin - - Investor -

SAND­FIRE Re­sources NL says it’s on track to com­plete debt fund­ing ar­range­ments for its $ 400 mil­lion De­Grussa cop­per and gold pro­ject in West­ern Aus­tralia in the June quar­ter. A de­fin­i­tive fea­si­bil­ity study will also be com­pleted next quar­ter, when pre-strip­ping of the open pit starts, man­ag­ing di­rec­tor and chief ex­ec­u­tive Karl Simich told Pay­dirt’s Gold Con­fer­ence in Perth yes­ter­day. Mr Simich said pro­ject fund­ing was ex­pected to be ‘‘ very sim­ple’’ se­nior debt fi­nance and dis­cus­sions with fi­nanciers were well ad­vanced. He said the pro­ject’s pay­back pe­riod was ex­pected to be about 12 months given it was a high grade, ma­jor dis­cov­ery.

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