Refinancing is on track
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.