Join our daily newsletter At The Bell to receive exclusive market insights
St Barbara Limited (ASX:SBM) has reported its success in using a partner’s AI software to help inform a FY25-27 production target of 70-75Kozpa.
The company worked with privately held Stratum to use the latter’s AI-based software to help assist St Barbara geotechs ink the exploration target.
That was due to the software being able to identify ways to treat sulphides hitherto unidentified.
In explaining how AI can help come up with an exploration target, the company ultimately said Stratum’s product helped form a “deeper understanding of recovery characteristics.”
St Barbara specifically noted a lower FY24 guidance range of 60-70kozpa.
“The work achieved with Stratum AI has been highly effective in enabling the Simberi team to delineate more ore which can be treated with the existing CIL plant,” St Barbara chief Andrew Strelein said.
“The increased confidence built from the practical application of the AI work in the last quarter has given us the confidence to reclassify our material types under this new method and add 143 koz of material.
“This allows us to plan for a stable annual gold production target over the next 3 years of 70 to 75koz.”
The use of AI to help ASX-listed miners find mineral targets is nothing new, though using AI to inform exploration targets is lesser reported.
A number of leading AI programs suffer from the limitation of being trained on one type of minerals – leaving the market without a product that can search for everything.
Good news for whoever gets there first.
SBM last traded at 25cps.
