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Gold miner St Barbara reports strong June quarter production, achieves annual guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Gold miner St Barbara (ASX: SBM) yesterday reported strong June quarter FY22 production results with all three provinces achieving guidance.

The company said that its total gold production for the June quarter FY22 of 86.4koz represents a 40% quarter-on-quarter increase (March quarter FY22: 61.8koz), adding that its cash balance increased by 24% to $98 million compared to March quarter FY22.

Importantly, the company noted that the total Group gold production of 281koz achieved during its fiscal year ended June 30 2022 was within the company’s FY22 production guidance.

“This strong production quarter is further demonstration of St Barbara’s progress with successful execution of its Leonora Province Plan. The company continues to build on its substantial Mineral Resources and Ore Reserves, its cash generating operations at its Gwalia mine with its readily expandable Leonora processing plant,” the company said in a statement.

The company added that the recently acquired Zoroastrian and Aphrodite assets add to its already extensive tenement holdings in the region.

St Barbara's assets include Leonora Operations in Western Australia, Atlantic Operations in Nova Scotia, Canada and Simberi Operations in Papua New Guinea.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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