Sandfire Resources Limited (SFR) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to our March quarterly call. Our executive team is here with me today for the Q&A and they're looking forward to the discussion. But before we start, I'd like to acknowledge the traditional custodians of the land on which we stand, the Whadjuk people of the Noongar Nation, as well as the First Nations peoples on the land of which SAMFIRE conducts its broader business. We pay our respects to their elders and leaders past, present and emerging. Starting with safety, our group risk decreased to 1.4 in the last quarter as we remain focused on eliminating high potential incidents and continue to embed our new way of working, the SAMFIRE way, which, as I've said before, will further strengthen our system of risk management and internal control. Despite unprecedented rainfall at both Matts and Mateo, we delivered robust production results during the quarter. And the impressive effort of our team has established the platform for a strong fourth quarter, ensuring we are well-placed to achieve group copper equivalent production guidance of 154,000 tonnes in FY25. If you've been monitoring the weather in southern Spain and Botswana and seen some of the images, I'm sure you'll agree this is a great outcome. At MATSA, given the modest 4% reduction in our milling rate in the March quarter, the delayed extraction of high-grade ore and the progressive loss of productivity that resulted from the persistent heavy rainfall, we now expect contained metal volumes to be strongly weighted towards the final quarter of FY25 for copper equivalent production of 95,000 tonnes, consistent with the target we set at the start of the year. We also expect a particularly strong increase in copper equivalent production at Mateo in the fourth quarter. As is the case fo...