No big investment for Pacific operations - St Barbara
KALGOORLIE (miningweekly.com) – Gold junior St Barbara has assured shareholders that it would not be investing heavily to bring its Pacific operations up to scratch.
“There is no intent to go and spend 'squillions' of dollars. If we need to do something differently then we will do that and we will right-size the operation,” St Barbara COO Alistair Croll said on the sidelines of the Diggers and Dealers conference.
He told delegates that the company had been disappointed at the progress made at the Pacific operations, since St Barbara took over the two mines nine months ago.
The Simberi operation, in Papua New Guinea, failed to reach its June quarter production guidance on the back of commissioning delays at the oxide plant expansion. Croll said the company was still awaiting government permits for the expansion, which was expected to lift production capacity to 100 000 oz/y.
At the Gold Ridge operations, in the Solomon Islands, St Barbara faced recovery issues, which Croll said necessitated a better understanding of the deposit.
Despite the recovery issues, St Barbara was able to increase quarterly gold production at Gold Ridge to 17 236 oz, mostly as a result of the increased use of the mining fleet and continued improvements in the processing plant and operating capability.
“The exciting thing for us is that we remain as optimistic about these assets as we have always been, as well as about the value they will bring to St Barbara,” Croll added.
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