A new fund-raising placement will give St Barbara the financial muscle to move toward a final investment decision on its Simberi expansion project.
The company has received firm commitments for an institutional placement that will raise $58 million before costs. The raising took place during a trading halt in early October and saw significant demand and overbidding for the new shares.
Funds raised will be applied to some key projects that will enable a final investment decision on the Simberi expansion projcet. Part of the capital raised will also go toward completing a pre-feasibility study for a new processing hub at St Barbara’s Atlantic operations in Canada.
The issue price of $0.46 was announced on October 7, with settlement occurring from October 10.
St Barbara managing director and chief executive officer Andrew Strelein said the successful placement gave the company confidence in its growth plans across both its projects.
“We are extremely pleased with the overwhelming support for the placement from our existing institutional shareholders and [are] delighted to welcome numerous new high-quality domestic and international institutional investors to St Barbara’s register,” he said.
The placement allows us to progress the change out of the truck fleet at Simberi to improve efficiency and reliability, as well as finalising the feasibility study and advancing pre-expansion growth capital items.
“The new funds will also enable us to complete the pre-feasibility study on the 15-Mile processing hub at Nova Scotia, which is due in the March quarter of 2026, and progress plans for the potential re-opening of Touquoy for stockpile processing.”
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