Microsoft Word - 31 Mar 15 - Finance Facility Repayment Profile
www.sandfire.com.au
ASX/Media Release 31 March 2015
AMENDMENT TO FINANCE FACILITY REPAYMENT PROFILE
Sandfire Resources NL (ASX: SFR; "Sandfire") is pleased to announce that it has reached agreement with its financier, ANZ Banking Corporation ("ANZ"), to amend the repayment schedule for the DeGrussa Project Finance Facility ahead of a planned broader restructure of its funding facilities.
The current $130 million balance of the DeGrussa Project Finance Facility will reduce to $125 million following a repayment of $5 million on 31 March 2015. A further $5 million repayment is due on 30 June
2015, with the remaining $120 million balance continuing to be fully repayable by 31 December 2015.
Further to this amendment, Sandfire has commenced a process to restructure the existing finance facility. This restructure is expected to provide a more balanced debt repayment profile that better aligns with the recently extended DeGrussa Mine Plan (see ASX announcement - 28 January 2015), improve access to cash flows from the DeGrussa Copper Mine and support Sandfire's longer term corporate objectives.
The Company will make a further announcement in the coming weeks once the restructure of the
DeGrussa Project Finance Facility has been completed.
ENDS
For further information contact: Sandfire Resources NL
Karl Simich - Managing Director/CEO Matthew Fitzgerald - CFO
Office: +61 8 6430 3800
Read Corporate
Mobile: +61 419 929 046 (Nicholas Read) Mobile: +61 421 619 084 (Paul Armstrong)
Forward-Looking Statements
Certain statements made during or in connection with this statement contain or comprise certain forward-looking statements regarding Sandfire's Mineral Resources and Reserves, exploration operations, project development operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. Although Sandfire believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business and operational risk management. Except for statutory liability which cannot be excluded, each of Sandfire, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this statement and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this statement or any error or omission. Sandfire undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly you should not place undue reliance on any forward looking statement.