Base and precious metals miner Sandfire Resources was in a net cash positive position for the first time in four years, following a strong performance at its DeGrussa copper/gold mine, in Western Australia, which has allowed the company to repay a significant component of its debt early.
Sandfire reported on Friday that it had fully repaid its amortising facility with its financier, ANZ Banking, ahead of schedule, following a A$20-million payment at the end of the June 2016 quarter. The facility was previously scheduled to be repaid over the next 18 months to December 31, 2017.
