St Barbara Limited delivered a solid operational performance in the June 2026 quarter, with attributable gold production reaching 7,329 ounces, exceeding the company’s previous guidance range of 5,600 to 6,800 ounces. This 8% quarter-on-quarter increase from the March quarter represents a meaningful acceleration and reflects improving execution at the New Simberi Gold operation, positioning the company well heading into the new financial year.
The company sold 6,700 ounces during the quarter at an average realised price of A$6,314 per ounce, capturing strong revenue from a portfolio benefiting from the elevated gold price environment. Combined with holdings in cash, bullion and listed investments totalling A$509 million at quarter-end, St Barbara maintains a robust balance sheet. Notably, the company continues to operate with no bank debt and maintains no hedging arrangements, leaving it well-positioned to benefit from gold price strength.
The production beat was driven by meaningful improvements across the operation’s key metrics. Processed tonnage increased 19% to 589,000 tonnes compared to the prior quarter, while the average processing feed grade remained solid at 1.00 grams per tonne of gold. Total mining volumes improved 10% to 2,467,000 tonnes, though ore mined declined 17% to 563,000 tonnes due to the mine’s operational focus on removing backfill waste material from the Pigibo open pit. The ore that was extracted came at a notably higher grade of 1.11 grams per tonne, up 12% from the prior quarter, suggesting the company is successfully accessing better quality material as mine plans progress.
The company’s 50% attributable reporting reflects the pending transaction with Kumul Mineral Holdings Limited, which had not completed as of 30 June 2026. On a 100% basis, New Simberi Gold produced 14,658 ounces in the quarter and totalled 48,395 ounces for the full financial year. The completion of the Kumul transaction and its ongoing impact on future earnings and cash generation will be important for shareholders to monitor, as it determines what proportion of the operation’s production flows through to St Barbara’s bottom line.
Investors should focus on the company’s all-in sustaining costs for the quarter, expected to be provided in the full quarterly report due by late July 2026. Understanding these costs alongside the production and sales figures will clarify profitability and cash generation capability going forward. The operational improvements seen in the quarter, particularly the higher ore grades being achieved, suggest positive momentum entering FY27, though continued execution on the balance sheet transaction and maintaining grade improvements remain key variables to watch. This announcement is price sensitive and has been flagged as material by the ASX.
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About St Barbara Limited (ASX: SBM)
St Barbara Limited is an Australian-based gold mining company with operations in Canada and Papua New Guinea. The company operates the Atlantic Operations in Nova Scotia, Canada, which includes the Touquoy mine, and the Simberi Operations in the province of New Ireland, Papua New Guinea. The company engages in the exploration, development, mining, and sale of gold, with additional interest in silver exploration.
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