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SFR - Sandfire Resources

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After bottoming out in early 2015 at around $4, Sandfire Resources has climbed back to $8.33 and is now not far away from its all-time highs of around $9, which it reached in the second half of 2012. It formed a double top at that level and retreated back to $4 over the next couple of years.

The last eight months has seen SFR really outperform having risen in price from $5.50 to $8.33 during that time. It will be interesting to see if it can continue on and break through its previous high of $9 and move into blue sky territory.



 
Technically $7 was strong resistance.
The pattern is leaning towards a Cup and Handle.
You'll note volume has thickened since 2015

Id expect price to start resisting at $9 ish and the handle
to form. Look for the low of the handle ----
Will look back on this in 6 mths
 
tech/a said:
Id expect price to start resisting at $9 ish and the handle
to form. Look for the low of the handle ----
Will look back on this in 6 mths
Click to expand...

Sandfire Resources blasted through $9 and is now well and truly in blue sky territory. It's up another 4.1% today and is currently trading at $9.91, having reached an intraday high of $9.99. It looks like it's hesitating at the $10 mark but based on its price action over the last week it certainly has the momentum to keep moving north.

 
Had a look at SFR today as im looking for something that will benefit from a low AUD, the SP has come off significantly - im guessing due to the usual end of life mine scenario.
~
 
Undervalued
Fair value $6.90 Liquidity High
MorningstarTM Quantitative
09 Aug 2019
Click to expand...
5.75's weekly basis saw price fall into middle of a vpoc range, typical for a trade raid there, the question is how sustainable was the liquidity coming, in-on, into that set-up ?
#observational #study #couldbehowardssprucegoose

 
The more doubt generated the better, I wouldn't mind a sample of SFR, a very successful producer and explorer - their geologists actually found the Monty deposit in TLM's tenement. They've got the developing Black Butte copper project in Montana (Mineral Resource: 18Mt at 3.3% Cu, 14g/t Ag, 0.10% Co for 597,000t of copper, 7,980,000oz of silver and 18,000t of cobalt (JORC)) and they've got a good chunk of Adriatic Metals (ADT). We don't have to beg China for market.
 
Number of announcements out today from Sandfire - possibly the least but most spectacular is partially screen grabbed below. Those drill results are from the Botswanna A4 deposit very close by to the more advanced T3 project which had final investment decision declared today. Copper and Silver!



6 months daily
 
SFR Daily Chart - rerated
Copper, announced final investment decision for long life Botswanna copper/silver mine and m.d gave a stirring speech recently to impress that SFR has a life beyond DeGrussa. I don't know why I've never committed to a buy of SFR, I think I was influenced by the limp chart and disinterest of others.

 
None of SFR's copper concentrate has gone to our good buddies in China for the last quarter.I wonder if Olympic dam's copper sheet could be the next damned thing on their hit list?
 
New high today, 12 month high, up 11%, must be the best solid copper miner on the ASX and will have a lot of silver too.

Daily
 
Full FY21 production of copper and gold at the high end of guidance, costs at low end and stacking up $574m cash for exceptional optionality.

They list their future growth prospects:
  • Motheo Copper Mine in Botswana, where they secured the Mining Licence award last week and maintain development timeline of delivering first copper production in early 2023
  • An expansive exploration program across the Kalahari Copper Belt, the Doolgunna Region of WA, the Lachlan Fold Belt in NSW
  • Black Butte Copper Project in Montana, USA
  • Assessing opportunities in the ‘green metals’ sector globally.

 
finicky said:
Full FY21 production of copper and gold at the high end of guidance, costs at low end and stacking up $574m cash for exceptional optionality.
Click to expand...

Why are they sitting on a half a bill in $$$? Motheo CAPEX?
 
@kennas
They need $275 for the capital cost of constructing the Black Butte copper mine and plant in Montana. The project is fully permitted and construction, at least the preliminary stages like earthworks, has already begun.
Eventually they'll need a lot to kick off the Botswanna copper/silver mine but I think that's 2023.
As DeGrussa winds down I think they are looking for a fresh resource to mine in the area.
They are still acquisitive and say they would consider a 'green metals' project.
 
@finicky This MRE upgrade seemed to have provided a bit of a bounce on 21 Jul. Seems significant for longer term production at Motheo. Will it replace DeGrussa? When's that supposed to run out? With Cu continuing to look bullish these guys are looking good.

“In recent weeks, several major investment banks have further upgraded their outlook, with Goldman Sachs in particular lifting its price target to US$15,000 per tonne by 2025 on the back of global decarbonisation and a looming chronic supply deficit."

 
SFR has finally looked like turning around the past few weeks from that medium term downward trend. Just broken through some minor resistance, 20d sma, and looking to break the channel. Looks promising. Cu approaching all time highs helps. Lots of volume down there. Wonder what that's about.

 
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