MDF Global MDF Global
NevGold pushes beyond Limo Butte resourceHeritage drills six-metre gold zone at MelbaSalazar discovers ‘high-grade’ tungsten at Pijili ProjectAguia aligned with newly approved government-backed fertiliser incentiveUS Department of Energy injects $13.9 million into critical mineralsQueensland legislation backs critical minerals explorationDevEx follows Nabarlek-style clues at KPAlurion drills towards Amargosa Prefeasibility StudyMoonlight hits broad copper zones at Peak DownsLegal battle heats up for major iron ore miner FortescueLithium Universe recovers gallium and platinum from e-wasteRokeby reports maiden tailings resource at OmeoCritical Resources links up with CSIRO for battery technologyBarkly advances 10,000m drilling at flagship projectAntilles Gold signs binding deal for Cuban sanction reliefRenegade expands loan facility to $2 millionUS Army’s Janus Program puts spotlight on uranium supplyMithril extends Copalquin silver-gold corridor to 550mFelix Gold produces antimony metal from pilot plantStrategic Energy tests two Canobie targets NevGold pushes beyond Limo Butte resourceHeritage drills six-metre gold zone at MelbaSalazar discovers ‘high-grade’ tungsten at Pijili ProjectAguia aligned with newly approved government-backed fertiliser incentiveUS Department of Energy injects $13.9 million into critical mineralsQueensland legislation backs critical minerals explorationDevEx follows Nabarlek-style clues at KPAlurion drills towards Amargosa Prefeasibility StudyMoonlight hits broad copper zones at Peak DownsLegal battle heats up for major iron ore miner FortescueLithium Universe recovers gallium and platinum from e-wasteRokeby reports maiden tailings resource at OmeoCritical Resources links up with CSIRO for battery technologyBarkly advances 10,000m drilling at flagship projectAntilles Gold signs binding deal for Cuban sanction reliefRenegade expands loan facility to $2 millionUS Army’s Janus Program puts spotlight on uranium supplyMithril extends Copalquin silver-gold corridor to 550mFelix Gold produces antimony metal from pilot plantStrategic Energy tests two Canobie targets

St Barbara’s Q3 gold production jumps 33%

St Barbara (ASX:SBM) says gold production for Q3 FY24 at its Simberi operations in Papua New Guinea has increased 33% from the prior quarter. 

The Simberi operation produced 17,257 ounces of gold during the March quarter, at an average milled grade of 1.63 grams per tonne gold, with gold recovery of 77%. 

Meanwhile, gold sales for the quarter were 18,016 ounces at an average price of $3,178 per ounce. 

As of 31 March 2024, St Barbara, which has a market capitalisation of $155.41 million, had $218 million in cash, representing a $4 million increase compared to Q2 FY24. 

“Simberi again improved during the March quarter with gold production increasing 33% compared to the December quarter,” Managing Director and CEO Andrew Strelein says.

“As previously highlighted in the December quarterly report, production guidance for Simberi was weighted to H2 FY24 and we remain on track with this solid quarter.”

The company notes further details, including production costs and cash flow details, will be provided in the Q3 March FY24 quarterly report, scheduled to be released the week of 22 April 2024. 

The Simberi operation consists of an open-cut mine on the northernmost island in  the Tabar group of islands in the province of New Ireland in Papua New Guinea. 

St Barbara is an Australian-based gold mining company with operations in Canada and Papua New Guinea. 

Write to Aaliyah Rogan at Mining.com.au   

Images: St Barbara
Add to Watch List:
Author Image
Written By Aaliyah Rogan
Now based in London as Mining.com.au’s Europe Correspondent, Aaliyah brings years of dedicated reporting mining news. Relocating from New Zealand to Australia before making the leap to the UK, she's built a reputation for sharp storytelling and a genuine passion for the resources industry. When she’s not chasing the latest developments across Europe, Aaliyah can be found exploring new cities, enjoying good food with friends, or unwinding by the water.