Sandfire Resources says its two largest shareholders are looking to sell their stakes in the coming 12 months

Livewire Equities

Sandfire Resources says its two largest shareholders are looking to sell their stakes in the coming 12 months. OZ Minerals owns about 19 per cent of Sandfire and Korean steel company Posco holds 15.23 per cent after first investing just $7.2 million. Both companies are said to have other priorities now and Sandfire's CEO, Karl Simich, says he has new investors keen to get on the register. Sandfire has been a success story from the recent resources boom, however, analysts say the business is fairly valued. Patersons Securities analyst Simon Tonkin says ''From an investment point of view, Sandfire is pretty fully valued... the real upside for Sandfire is finding another deposit nearby. Whoever comes in would want some comfort that there is something else there.'' (VIEW LINK)

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