Monty discovery looking the goods and only 10km from existing processing plant at Degrussa. This looks like the beginning of a new expansion phase for Sandfire.
The company was very clever to have increased its land holding in Doolgunna to one of the largest in the area at a minimal cost. It grabbed Sipa's huge land holding for a poultry $2m and did a JV with Talisman (eventually having a 70% interest) while having to invest $15m in exploration over many years.
We can now expect this exploration expenditure will be intensified to prove up the Monty discovery.
One important fact to consider is that Sandfire was able to find what Talisman missed. This was not by luck as they have developed advanced exploration techniques to discover the next Degrussa based on their extreme knowledge of this area.
How many more Degrussa's and Monty's are waiting for them to discover in that vast land holding come JV.
Future bright with largest land holding in Doolgunna
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$10.34 |
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