St Barbara Ltd
ASX:SBM
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St Barbara Ltd
ASX:SBM
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St Barbara Ltd
St. Barbara Ltd. engages in the production and exploration of gold and minerals. The company is headquartered in Melbourne, Victoria. The firm's assets include the Atlantic Operations, Leonora Operations, and the Simberi Operations. Its Atlantic Operations are located approximately 80 kilometers north-east of Halifax, Nova Scotia, Canada. The Atlantic Operations consists of its open pit Touquoy mine, along with three additional planned projects nearby at Beaver Dam,15 Mile Stream and Cochrane Hill. The Leonora Operations in Western Australia consists of the Gwalia underground mine and a 1.4 million tons per annum processing plant, as well as nearby development opportunities. The Gwalia mine is the cornerstone of Leonora Operations. The company is located approximately 235 kilometers from Kalgoorlie in Western Australia. The Simberi Operations consists of an open cut mine on the northernmost island in the Tabar group of islands in the province of New Ireland in Papua New Guinea. The Leonora Operations also consists of Aphrodite and Zoroastrian underground deposits.
St. Barbara Ltd. engages in the production and exploration of gold and minerals. The company is headquartered in Melbourne, Victoria. The firm's assets include the Atlantic Operations, Leonora Operations, and the Simberi Operations. Its Atlantic Operations are located approximately 80 kilometers north-east of Halifax, Nova Scotia, Canada. The Atlantic Operations consists of its open pit Touquoy mine, along with three additional planned projects nearby at Beaver Dam,15 Mile Stream and Cochrane Hill. The Leonora Operations in Western Australia consists of the Gwalia underground mine and a 1.4 million tons per annum processing plant, as well as nearby development opportunities. The Gwalia mine is the cornerstone of Leonora Operations. The company is located approximately 235 kilometers from Kalgoorlie in Western Australia. The Simberi Operations consists of an open cut mine on the northernmost island in the Tabar group of islands in the province of New Ireland in Papua New Guinea. The Leonora Operations also consists of Aphrodite and Zoroastrian underground deposits.
Production: St Barbara produced 59,000 ounces of gold in Q3, faced with operational challenges at Gwalia and lower production at Simberi.
Costs: All-in sustaining cost for the quarter was $2,553 per ounce, with Leonora specifically at $2,809 per ounce, and group cost guidance updated to $2,500–$2,650 per ounce.
Leonora Sale: Announced the sale of Leonora assets to Genesis for $600 million, including cash and Genesis shares, with deal expected to close around July 1.
Financial Position: Cash balance increased to $60 million, supported by a $20 million debt facility drawdown and operational cash generation, mainly from Atlantic and Simberi.
Guidance: Updated production guidance for FY23 (excluding Leonora) to 110,000–130,000 ounces; Leonora cost guidance now $2,650–$2,750 per ounce.
Strategic Refocus: Company will be debt-free post-transaction, focusing on Atlantic and Simberi projects with a leaner corporate structure.
