St Barbara Limited (ASX:SBM) announces updated Pre-Feasibility Study for Atlantic Projects

St Barbara Limited (ASX:SBM) is pleased to announce the completion of an updated Pre-Feasibility Study (PFS) for the 15-Mile and Beaver Dam Projects, located in Trafalgar and Marinette respectively in Nova Scotia. The study demonstrates a capital-efficient project with strong economics, offering a significant economic contribution to Nova Scotia and Canada. The updated study shows a post-tax NPV of A$468 million and a post-tax IRR of 37.3% at a long-term gold price of US$2,000 per ounce.

Executive Commentary on Updated Pre-Feasibility Study

Managing Director and CEO Andrew Strelein expressed his enthusiasm, stating, 'I am thrilled to share the results of our optimised pre-feasibility study for the 15-Mile and Beaver Dam projects, which demonstrates outstanding financial viability alongside strong environmental stewardship. These results not only highlight the significant projected returns and cost savings but also reinforce our commitment to sustainable development.' Strelein further emphasized the company's dedication to delivering value to stakeholders and fostering positive relationships with the communities in which they operate.

Summary of Updated Pre-Feasibility Study

The updated Pre-Feasibility Study for the 15-Mile and Beaver Dam Projects showcases a capital-efficient project with strong economics, offering a significant economic contribution to Nova Scotia and Canada. The study reveals a post-tax NPV of A$468 million and a post-tax IRR of 37.3% at a long-term gold price of US$2,000 per ounce. The project aims to create over 1,000 direct jobs in construction and over 300 direct jobs in the operating phase, contributing to rural employment. With a focus on sustainable development, the project incorporates design improvements to minimize surface disturbance and environmental impacts while maximizing operational efficiency. St Barbara remains dedicated to delivering value to stakeholders and fostering positive relationships with the communities in which they operate. The company looks forward to community consultations on the design changes and to receive additional feedback under future regulatory approval processes.