- St Barbara (SBM) has wrapped up its best quarter of gold production in two years, producing 108,612 ounces in the fourth quarter of FY20
- Atlantic Gold operations in Novo Scotia, Canada produced record ounces of gold thanks to higher than expected mill throughput and recovery rates
- The Gwalia operations, near Leonora in Western Australia, had the highest throughput since 2014 after improvements from an operational review were implemented
- Production was also solid at Simberi in Papua New Guinea, despite replacing part of a rope conveyor belt
- This was thanks to ore mined from some higher-grade zones at the Botlu and Sorowar central pits
- Full details on the June quarter will be disclosed in the company’s Q4 FY20 report, scheduled for release on July 29
- St Barbara is trading 10.3 per cent higher with shares selling for $3.63
St Barbara (SBM) has wrapped up its best quarter of gold production in two years, producing 108,612 ounces in the fourth quarter of FY20.
That brought the aggregate gold production for the full financial year to 381,887 ounces, in line with full-year production guidance of 370,000 to 400,000 ounces.
Atlantic Gold
Atlantic Gold operations in Novo Scotia, Canada produced a record 29,209 ounces of gold over the quarter and a record 106,663 ounces of over the financial year.
St Barbara attributed the record production to higher-than-expected mill throughput and recovery rates.
Gwalia
St Barbara’s Gwalia operations, near Leonora in Western Australia, produced 29,209 ounces of gold, the highest throughput since 2014.
This followed the implementation of process improvements from an operational review by external consultants.
Simberi
Production was also solid at Simberi despite the replacement of part of the rope conveyor belt. The remaining length of the belt is due to be replayed in the 2021 financial year.
Overall, the operations in Papua New Guinea delivered 28,106 ounces of gold over the quarter, bolstered by ore from some higher-grade zones mined at the Botlu and Sorowar central pits.
St Barbara Managing Director and CEO, Craig Jetson, said the quarter was incredibly fruitful given the difficult actual environment.
“The June quarter performance highlights the extraordinary efforts of our people and business partners in the midst of an ongoing global pandemic. We continue to adhere to our COVID‐19 management plan to care for our people and our partners, safely maintain our operations and manage this ongoing risk,” Craig said.
Full details on the June quarter will be disclosed in the company’s Q4 FY20 report, scheduled for release on July 29.
St Barbara is trading 10.3 per cent higher with shares selling for $3.63 at 2:18 pm AEST.