Gwalia production downgraded by St Barbara
PERTH (miningweekly.com) – The share price of gold miner St Barbara stumbled on Friday after the company revised its production expectations for the Gwalia project for the 2020 financial year, while also raising the anticipated all-in sustaining costs (AISC) for the operation.
The ASX-listed company on Friday said that near-term production from Gwalia would be impacted by strained infrastructure, as the remaining Gwalia extension project construction and raise-boring programme was competing for constrained ventilation with the scheduled production and development activities.
Once completed in the third quarter of 2020, the extension project would double the underground ventilation, enabling increased development and production.
However, while the extension project is still undergoing, St Barbara has downgraded the production expectations at Gwalia from the previously targeted 200 000 oz to 210 000 oz, to between 175 000 oz and 190 000 oz.
AISC for the full 2020 are also expected to increase from the initial estimate of between A$1 230.oz and A$1 290/oz, to between A$1 390/oz and A$1 450/oz.
Meanwhile, St Barbara on Friday said that production from recently acquired Atlantic Gold is expected to add between 95 000 oz and 105 000 oz to the production profile in 2020, while AISC at the Canadian operation has been estimated at between A$900/oz and A$955/oz.
St Barbara has estimated a sustaining capital expenditure of between A$13-million and A$17-million for the Atlantic Gold operation in the 2020 financial year, along with an exploration budget of between A$11-million and A$13-million.
St Barbara shares were trading at a low of A$2.52 a share on Friday, up from a high of A$2.70 a share.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.
VISIT SHOWROOM
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
