News Articles for Andrew Strelein

Perth-headquartered St Barbara will sell 60 per cent of the Simberi goldmine in Papua New Guinea into foreign hands for $420 million, as it seeks to extend the life of the asset.

St Barbara has taken advantage of the recent gold fever to add an extra $58 million to its coffers for Simberi's expansion project.

St Barbara has met its lowered FY25 production target despite rainfall disruptions and ore grade challenges at its Simberi mine in Papua New Guinea.

The gold mine is now expected to generate between 32,500 and 42,500 ounces through June.

Mid-tier gold miner St Barbara has announced plans to raise up to $110 million, as the company aims to fast-track development at its Simberi sulphide expansion project.

Cashed up St Barbara reported a statutory loss of $54 million last financial year, with its cost of production outweighing the average realised price of gold produced across its portfolio.

Gold miner St Barbara has the potential to produce an average of 230,000 ounces of gold per annum from the 2028 financial year, following the release of its Simberi expansion concept study.

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St Barbara will undergo top-level staff changes following the sale of its Leonora assets to Rayleigh Finlayson's Genesis Minerals.

Genesis Minerals boss Raleigh Finlayson has locked in another part of his ambition to consolidate the Leonora region after striking a deal to buy neighbouring gold company St Barbara.