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St Barbara Limited (ASX:SBM)

ALERT: Price-sensitive ASX Announcement for SBM
Current share price for SBM : $0.505 0 (0%)+
Announcement
Release
10 Dec 2025 3:23PM
Price at Release
$0.505
Full Release
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Summary
St Barbara Limited has reached an agreement with Kumul Mineral Holdings Limited for Kumul to acquire a 20% interest in the Simberi Gold Project for A$100 million. The deal supports the PNG Government's goals for equitable resource sharing and involves St Barbara retaining an 80% stake and management responsibilities. The transaction includes a potential farm-in for Kumul to earn up to 20% of the Tabar Islands Exploration Licenses, along with non-recourse loan funding from St Barbara to cover Kumul's share of costs. This agreement marks a significant step towards the final investment decision for the Simberi Expansion Project, expected in Q3 FY26.
Key Points
  • St Barbara Limited and Kumul Mineral Holdings Limited have signed binding agreements for Kumul to acquire a 20% interest in the Simberi Gold Project for A$100 million.
  • The agreement follows a Memorandum of Understanding entered on 9 December 2024.
  • St Barbara will retain an 80% ownership in the Simberi Gold Project and manage the joint venture.
  • The transaction aligns with the PNG Government's goal for greater ownership and benefits sharing from resource development projects.
  • The agreement includes potential farm-in for Kumul to earn up to 20% of the Tabar Islands Exploration Licenses.
  • A non-recourse loan funding from St Barbara will cover Kumul's acquisition and construction costs.
  • The Agreed Kumul JV Transaction is subject to customary conditions precedent, including PNG regulatory approvals and the renewal of the Simberi Mining Lease.
  • The final investment decision for the Simberi Expansion Project is targeted for Q3 FY26.
  • The collaboration aims to develop a benefits-sharing model exceeding PNG Government's goals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.