12/03/2010 - 09:19

St Barbara buys back $39.8m notes

12/03/2010 - 09:19

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Gold miner St Barbara has entered into agreements with three note holders to buy back convertible notes with a total face value of $39.8 million.

St Barbara buys back $39.8m notes

Gold miner St Barbara has entered into agreements with three note holders to buy back convertible notes with a total face value of $39.8 million.

The miner today said that last week it had bought back $1.75 million of convertible notes for 99.7 per cent of face value and further transactions were completed this week for the buy back of $38.05 million of convertible notes.

The buy back leaves St Barbara with $21.95 million of convertible notes.

Shares in St Barbara were unchanged at 27.5 cents at aa:56 AEDT.

Yesterday the miner approved the $14 million development of the King of the Hills gold project near Leonora, which will take 12 months to ramp up and have a gold production rate of 65,000 ounces over a three-and-a-half year mine life.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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