St Barbara agrees to $453M asset sale
Key points
- St Barbara agreed to sell its remaining interest in New Simberi Gold to Lingbao Gold Group for $453 million in cash and capital contributions.
- The company reported a total cash of $416 million as of Sept. 30 and declared a fully franked dividend of $0.05 per share.
- The sale strategy focuses capital on developing its Nova Scotia Gold Projects, including the 15-Mile Processing Hub.
St Barbara (ASX:SBM) executed a binding agreement to sell its remaining interest in New Simberi Gold to Lingbao Gold Group for up to $453 million.
The transaction follows updated pre-feasibility results for the 15-Mile Processing Hub, where ore reserves increased 17% to 1.4 Moz.
The total deal consideration includes $410 million in cash alongside $43 million in capital contribution repayments since April 2026.
St Barbara stated that the sale remains on track for completion by the third quarter of FY27.
Following the announcement, the St Barbara share price was unchanged at $0.78.
The agreement retains a 2.75% net smelter return royalty on future production from New Simberi for St Barbara.
The transaction also includes a 1.5% net smelter return royalty on future mineral production from the Tabar Island Group.
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