Diversified miner Sandfire Resources NL
(ASX:SFR) says it is on track to meet its production deadline after raising, by more than fivefold, the estimate resources of its DeGrussa copper-gold project in Western Australia.
The company, which came out of a trading halt on Monday, says the project has around 40,000 tonnes of contained copper and between 60,000 to 70,000 ounces of gold.
At current spot prices, that is worth in excess of $400 million.
For the year ended 30 June 2010, Sandfire Resources reported a net loss of $29.54 million.
