St Barbara has boosted its Simberi gold mine production by a third on the previous quarter as the project’s resource definition campaign draws to a close.
Simberi continued to ramp up for St Barbara in the March quarter with 17,257 ounces on the docket. The Simberi expansion concept study results remain on track for release in May 2024.
Gold sales for quarter saw a 20 per cent boost to a total 18,016 ounces at average realised price of $3178 per ounce.
St Barbara also completed drilling programs at Cochrane Hill and Goldboro East in Nova Scotia, Canada.
“It has been another highly productive quarter for the team as we continue to deliver on our stated strategic focus areas in progression of the overseas development projects,” St Barbara managing director and chief executive officer Andrew Strelein said.
“The outlook for Simberi continues to improve and we remain on track to deliver the results of the expansion concept study in May and the resource definition drilling results bode well for an updated mineral resource and ore reserve update at the end of Q4.”
Although mill throughput at Simberi is not yet hitting targeted levels, Strelein said the Sorowar deposit grade overperformance continued.
“We anticipate mining of another higher-grade zone of Sorowar in June and provided that we achieve our planned mine face positions we anticipate production above 20,000 ounces for Q4,” he said.
“We continue to view St Barbara as a unique value proposition given our market value versus gold in the ground, strong balance sheet and development opportunities.”
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