2328 GMT - Base metals miner Sandfire Resources's net debt appears to have peaked, Jefferies says. Sandfire's net debt totaled US$288 million at the end of December, down from US$345 million three months earlier. That was supported by cash flow from the Matsa project in Spain and the Motheo operation in Botswana. "With FY 2025 set to see a full year of Motheo and Matsa delivering consistent production, we expect to see ongoing debt reduction over the course of FY 2025," analyst Mitch Ryan says. Jefferies expects Sandfire to be net cash by the end of December next year. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 30, 2025 18:28 ET (23:28 GMT)
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