- Ore processing commenced successfully as planned
- Official re-opening celebration attended by Nova Scotia Minister for Natural Resources
- Commissioning is expected to ramp-up to full production by end of December
- Gold production guidance of between 17,000 and 21,000 ounces
St Barbara (ASX: SBM) has hit a milestone with ore processing underway at the Touquoy re-start project in Nova Scotia.
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With first ore processed through the ball mill the company expects ore processing will ramp up to full capacity by the end of December 2026, with first production of gold dore in January 2027.
Processing of the low and medium grade stockpile material consists of transporting ore from existing stockpiles to the plant for processing. The low-grade stockpiles were previously successfully processed in Q1 September FY24 and achieved excellent recoveries of 84%.
“The re-commencement of ore processing through the Touquoy plant marks a significant milestone for both St Barbara and for the province of Nova Scotia,” MD and CEO, Andrew Strelein, said.
“The province’s commitment to resource development has enabled the rapid implementation from a care and maintenance standing start to processing of the remaining low and medium grade stockpiles.
“The company is pleased to be bringing back so many past employees and contractors to work at home in Nova Scotia.”
The achievement marked the processing of first ore at the project since 2023 and the return of Nova Scotia as a gold producing province.
With the successful commencement of ore processing, the company has released a guidance for the key operations performance and project expenditure for FY27.
Touquoy Restart Project FY27 gold production is anticipated to be between 17,000 and 21,000 ounces, at All-in Sustaining Costs of between A$2,070 per ounce and A$2,560 per ounce.
Growth capital expenditure for both the Touquoy Restart Project and the 15-Mile Processing Hub Project is anticipated to be between A$40 and A$50 million.
Touquoy site reclamation costs are expected to be between A$24 and A$30 million. There is an opportunity to cost effectively execute a significant portion of the reclamation obligation, as a dry and stable tailings management surface coincides with availability of a range of excavators and dump trucks during operations.
SBM was steady at 74.5¢ with a Mkt cap of $901.2M prior to markets opening.
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