Sandfire backs another junior

COPPER miner Sandfire Resources has taken a major stake in unlisted gold explorer Andes Resources.

Sandfire backs another junior Sandfire backs another junior Sandfire backs another junior Sandfire backs another junior Sandfire backs another junior

Sandfire MD Karl Simich (left) and Andes MD Jason Stirbinskis

Sandfire has acquired 16.7 million shares at A12c per share for $2 million, giving the miner a near 19.6% stake.

The investment is part of a broader $3 million capital raising.