SFR generated record production from its DeGrussa operation on both a quarterly and annual basis. June Q production was 19.3kt Cu and 13.5koz Au at a C1 cash cost of US$0.51/lb (+8% Cu, +15% Au and -31% C1 QoQ). Full year production was 72.2koz Cu and 42.3koz Au at US$0.72/lb C1, beating revised guidance of 70-72koz Cu and 38-40koz Au at US$0.90/lb C1. FY21 guidance has been set at 67-70kt Cu and 36-40koz Au at US$0.90-0.95/lb C1, which is below Argonaut’s previous forecast of 74.5kt Cu. Cash at 30 June was $291m (up $49m QoQ) and the Company has no bank debt.
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