St Barbara books solid quarter

18th April 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively.

The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous estimate of between 245 000 oz and 255 000 oz, while all-in sustaining cost (AISC) estimates have increased from between A$930/oz and A$970/oz, to between A$980/oz and A$1 000/oz.

St Barbara has previously said that the lower production target for 2019 at Gwalia resulted from a delay in the paste aggregate fill circuit, which had initially been scheduled to become operational by the second quarter of 2019, but would now only be operational by the fourth quarter of the financial year.

At its Simberi operation, St Barbara is now expected to produce between 130 000 oz and 135 000 oz, up from the previous estimate of between 120 000 oz and 130 000 oz, while AISC is expected to reach between A$1 245/oz and A$1 300/oz, down from the previous estimate of between A$1 275/oz and A$1 375/oz.

During the three months to March, St Barbara produced 88 358 oz of gold, compared with the 89 244 oz produced in the December quarter, with Gwalia contributing 54 261 oz and Simberi 34 097 oz.

Meanwhile, St Barbara reported that the Gwalia extension project was on track for completion by the second quarter of the 2020 financial year, at a capital cost of A$112-million, up from the previous budget of A$100-million.

The extension programme will ensure that the Gwalia operation can continue to deliver strong, high-margin gold production until at least 2024, with the foundation laid for further extensions to the mine life beyond this, as well as the potential for increased production.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION