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St Barbara Limited (ASX:SBM)

ALERT: Price-sensitive ASX Announcement for SBM
Current share price for SBM : $0.455 -0.05 (-9.90%)+
Announcement
Release
10 Dec 2025 3:23PM
Price at Release
$0.505
Full Release
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Summary
The feasibility study conducted by St Barbara Limited confirms the Simberi Expansion Project as a high-quality, long-life, low-cost asset. The study projects a 13-year mine life with increased gold and silver resources, estimating a total production of 2.1 million ounces of gold from FY26 to FY39. The project requires an initial capital investment of approximately US$275 million, with a further US$50-70 million for pre-expansion growth. Post-tax NPV and IRR projections are highly favorable at varying gold and silver prices, underscoring the project's economic viability. The project aims to transition from oxidized ore processing to treating fresh sulphide ore, thus necessitating infrastructure updates including a flotation circuit and additional power generation. The study highlights the competitive all-in sustaining costs expected to decrease over the project's duration, with the final investment decision anticipated by Q3 FY26, pending mining lease extension approval.
Key Points
  • Feasibility study confirms Simberi as a high-quality, long-life, low-cost asset.
  • Total production of 2.1 million ounces of gold from FY26 to FY39.
  • Initial project capital estimated at US$275 million.
  • Pre-expansion growth capital estimated at US$50-70 million.
  • Post-tax NPV8 of US$1,023M and IRR of 79% at US$3,000/oz gold.
  • Project involves expansion for fresh sulphide ore processing.
  • Competitive all-in sustaining costs expected: US$1,100 – US$1,400/oz.
  • Final Investment Decision (FID) anticipated by Q3 FY26.
  • Transition from oxidized to fresh ore processing.
  • Existing infrastructure to be utilized with required upgrades.
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.