News Bureau

St Barbara gold production over 60K Oz

St Barbara provides the Q2 December FY23 quarterly report & the Group gold production for Q2 was 60,976 ounces. Group AISC1 for Q2 of $2,666 per ounce shows a lower production from Gwalia did not sufficiently offset fixed costs.

Managing Director and CEO Dan Lougher said “It has been a disappointing quarter at Leonora as we reset the operations with a new General Manager, who is setting the site up for improved performance over the next six months. Simberi had a strong quarter, with its first positive cashflow in five quarters, while Atlantic recovered from Hurricane Fiona which pushed some production into the third quarter.”

“St Barbara faces an exciting future, following the announcement of the merger of our Leonora operations with Genesis to form the new Hoover House, together with the demerger of Atlantic and Simberi to create Phoenician Metals. I believe that this will deliver the best pathway forward for our shareholders by helping to unlock the market value of Atlantic and Simberi, while driving the consolidation of the Leonora region.”

St Barbara produced 60,976 ounces of gold in Q2 FY23 at an increased AISC of $2,666 due to lower production compared to the prior quarter. While Simberi and Atlantic performed in line with expectations, the group production result was lower than anticipated due to delays in accessing high grade stopes at Gwalia, resulting in lower grade development ore being processed there.

With access to high grade stopes since achieved after the end of the quarter, St Barbara remains on track to deliver towards the lower end of production guidance and the higher end of AISC guidance for FY23.

What's your reaction? 0% 0% 0%