St Barbara Limited (ASX: SBM) is an Australian based, ASX listed company with gold mining operations in Nova Scotia, Canada and Simberi Island, Papua New Guinea. Production in FY23 from the combined operations was 122,318 ounces of gold at All-in Sustaining Costs of US$1,587 per ounce. Total Mineral Resources are 5.9Moz, including Ore Reserves of 3.5Moz.
In Nova Scotia, the Touquoy open pit mine has been operating since 2017 and will move to care and maintenance in September 2023. The Company is advancing three additional projects (Fifteen Mile Stream, Beaver Dam and Cochrane Hill) along strike from the Touquoy mine. The Fifteen Mile Stream project is being planned as the next operation, with studies underway to relocate the Touquoy plant to Fifteen Mile Stream and develop a standalone operation targeting 60kozpa over a 10 year mine life.
The Company is continuing to explore in Nova Scotia with drill targets at Cochrane Hill, South-West, Goldboro East and Mooseland.
At Simberi the open pit oxide mine life is now projected to at least the end of the 2026 financial year. The Company is undertaking a drilling campaign and updating study work on expanding the operation to process sulphides that is expected to extend operational life for another ten years.
Following the sale of the Leonora Assets in June 2023, the Company is well capitalised with ~A$202 million of unrestricted cash to strategically focus on the Simberi and Atlantic development opportunities.
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