Sandfire Resources rises on drilling results

Company News

Shares in Sandfire Resources NL (ASX:SFR) and JV partner Talisman Mining Limited (ASX:TLM) continued to rise yesterday after reporting another positive exploration update. 
 
The results have been taken from the Springfield Project, about 10 kilometres east of Sandfire’s DeGrussa Copper Mine in Western Australia. 
 
Sandfire says it is very encouraged by the results to date and is considering allocating extra diamond drilling capacity to what it describes as an exciting new discovery. 
 
Shares in Sandfire Resources rose to yesterday’s best performing stock in the S&P/ASX 200 index and are up almost 50 per cent in the past three months. 
 
Shares in Talisman Mining closed almost 14 per cent higher yesterday and have climbed more than 300 per cent in the past three months.  
 
Sandfire Resources reported a net profit of $30.56 million in the first half of the 2015 financial year.