Investors fired by Auris-Sandfire deal

MARKET interest in Auris Minerals has been fired after the company farmed out ground near the high grade DeGrussa copper operation to owner Sandfire Resources and said its cash holdings would enable it to consider “other opportunities”.

Investors fired by Auris-Sandfire deal Investors fired by Auris-Sandfire deal Investors fired by Auris-Sandfire deal Investors fired by Auris-Sandfire deal Investors fired by Auris-Sandfire deal

The farm out to Sandfire included a payment of A$1.2 million to Auris, with the ASX junior starting the year with $4.5 million cash.

Sandfire can earn a 70% stake in any discovery made on the Auris ground after initially spending a minimum of $2 million and thereafter completing a feasibility study on a deposit containing not less than 50,000t of copper (or metal equivalent).

Sandfire is working overtime looking for additional discoveries in the region as resources continue to deplete at the outstanding DeGrussa deposit.

The ground in question in the Sandfire-Auris deal comprises the Doolgunna and Morck’s Well projects.

Auris has 1350 square kilometres of copper-gold expl...