St Barbara continues to boost gold resource across Simberi pipeline

St Barbara has reported strong operational and resource growth at its Simberi operations in Papua New Guinea, underscoring momentum behind the proposed New Simberi Gold Project.

At the Simberi gold mine, the company produced 20,215 ounces of gold in the half year to 31 December 2025, generating an operating contribution of $22.4 million.

Mining continued from remnant open-pit oxide ore, maintaining production continuity while development plans advance. The result supported a near break-even group outcome during a period of continued investment.

A key highlight was a substantial lift in mineral inventory. Updated figures show gold mineral resources increased by 0.9 million ounces to 5.8 million ounces. Gold ore reserves stood at 2.5 million ounces at period end.

The statement also introduced inaugural silver estimates, including 15.3 million ounces of silver mineral resources and 4.5 million ounces of silver ore reserves, marking an expansion in the project’s precious metals profile.

To fund the next phase of development, St Barbara has entered binding agreements with Lingbao Gold International, which will acquire a 40 per cent interest in the New Simberi project for $370 million, and with Kumul Mineral Holdings, whose subsidiary will take a further 20 per cent stake. Both transactions are targeted for completion by the end of the third quarter of FY26.

Together, the strengthened resource base and secured funding position Simberi as a long-life asset poised for its next stage of growth.

Growth was also seen across the company’s Atlantic operations in Canada, which contributed to an increase in total mineral resource across assets.

“We are pleased to provide this annual update on St Barbara’s Mineral Resources and Ore Reserves Statement showing total Mineral Resources across both Simberi and Atlantic has grown from 6.9 million ounces to 7.9 million ounces of gold,” St Barbara managing director Andrew Strelein said.