The Simberi gold mine will remain pivotal to St Barbara’s success as it looks to the 2024–25 financial year (FY25).
FY25
St Barbara’s strategy at Simberi is to continue sustaining its operations at break-even of near break-even operating cashflow.
Gold production at the site is sitting at 65,000–75,000 ounces, and St Barbara is forging ahead with a 9000m sulphide drilling program targeting the Sorowar-Pigiput Trend.
“Importantly the metallurgical testwork has allowed early selection of the final flowsheet and the company will now focus on optimisation of saleable concentrate flowsheet ahead of commencement of an updated feasibility study,” St Barbara head Andrew Strelein and independent non-executive chair Kerry Gleeson said in an announcement.
FY24
In FY24, St Barbara’s exploration team recorded another full twelve months free of reportable injuries, marking five years of being reportable injury free.
The broader St Barbara team farewelled non-executive director Stef Loader from the board on June 30, thanking her for her almost six years of service. With three new directors already on board from 2023, the board has decided not to replace Loader.
Looking to financials, St Barbara ended the year with $191 million in total cash at bank and no debt and is well funded to complete the next phases of work and beyond.
Simberi achieved the midpoint of revised guidance with gold production of 54,705 ounces.
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