St Barbara Limited is an Australian based, ASX listed company (ASX: SBM) with gold mining operations on Simberi Island, Papua New Guinea and gold projects in Nova Scotia, Canada. Production in FY24 from Simberi was 54,705 ounces of gold at All-in Sustaining Costs of US$2,424 per ounce. Group Mineral Resources are 7.0 Moz, including Ore Reserves of 4.1 Moz.

St Barbara recently announced results of the Simberi Expansion outlining the mining of multiple open pits to exploit the 2.8 Moz oxide and sulphide Ore Reserves. Average annual gold production rises from 65,000 to 75,000 ounces in FY25 to over 200,000 ounces per annum from FY28 through to FY34, with All-in Sustaining Costs between US$1,000 and US$1,200 per ounce. Expansion growth capital is estimated at US$213 million across FY26 to FY28. The Simberi project is moving forward to update the Feasibility Study with the expanded Ore Reserve, a saleable concentrate flowsheet and new testwork outcomes. The final investment decision is expected in late calendar 2025, with first production from sulphide ore in late calendar 2027.

In Nova Scotia, the Touquoy open pit mine (operating since 2017) moved to closure and care and maintenance in September 2023. The Company has three additional advanced stage gold projects (15-Mile, Beaver Dam and Cochrane Hill). The 15-Mile project (with additional ore from Beaver Dam) is being planned as the next operation, with relocation of the Touquoy processing plant to 15-Mile to produce ~70kozpa over an 11 year mine life.

The Company is well capitalised to deliver the next development milestones with ~A$191 million of cash (including A$45 million restricted) as at 30 June 2024, A$25 million from sale of Catalyst Metals shares and listed equity investments of ~A$25 million.