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St Barbara Ltd (ASX:SBM) has completed a study on the layout and design of the plant attached to its expansion of the Simberi gold project in Papua New Guinea, which also confirms an annual production rate of more than 220,000 ounces per annum (ozpa) from the 2028 fiscal year.
The Process Plant Layout and Design AACE Class 4 Study for Simberi – undertaken by Pitch Black Group – predicted that total gold production from fiscal years 2026 to 2038 would be 2.2 million ounces, with annual production to reach 90,000 ozpa in FY27, and then 220,000 ozpa the following year.
The study forms part of an overall expansion of Simberi’s existing mining and processing operation which is focused on enabling the treatment of fresh sulphide ore.
Financial data from the study was also positive, with the all-in sustaining cost (AISC) falling to between US$1,200 and US$1,300 per ounce from FY29 to FY36., with this encompassing proposed enhanced royalty package to landowners and communities.
The initial project capital is set at US$235 million (±20% Class 4 Estimate) from FY26 to FY28, built around a maximum rate of 3.5Mtpa for production of saleable gold concentrates.
Alongside this, the pre-expansion growth capital is between US$40 million and US$60 million across FY26 to FY27, with this to include studies and designs, camp upgrade, new haul road, RO plant and miscellaneous improvements.
The study also included the first mineral reserve for silver: which is 4.7 million ounces.
St Barbara has been trading at 27 cents.
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