Quarterly report highlights

St Barbara (ASX:SBM) has released its unaudited quarterly report for Q1 September FY25. The report outlines key developments in operational, financial, and project activities. Notable advancements are seen in the Simberi Sulphides Expansion Project and the Atlantic Project. The company completed a significant plant shutdown and maintains a solid cash reserve of A$194 million.

Outlook and future direction

St Barbara's unaudited quarterly report for Q1 September FY25 highlights their strategic progress and financial robustness. The company's ambitious goals include accelerating the Simberi Sulphides Expansion Project timeline and optimizing the Nova Scotian projects. They are also advancing energy storage solutions and maintaining a strong focus on sustainability and safety. With a cash reserve of A$194 million, St Barbara is well-positioned to enhance its project outcomes and explore further growth opportunities. The company's outlook remains positive, focusing on operational efficiency, exploration, and financial stability.

Executive commentary on quarterly performance

The project is ahead of schedule with significant progress in metallurgical testwork and plant design. The focus is on bringing forward the first sulphide production by up to five months to Q1 Sep FY28. The project team is optimizing the process plant layout and schedule, considering earlier ordering of key equipment like the ball mill.' 'Updated Pre-Feasibility Study for the 15-Mile project indicates a potential 11-year mine life with annual production of 74koz gold. Redesign of Cochrane Hill project to consider hauling ore to 15-Mile instead of processing onsite. Feasibility Study on pumped hydro energy storage at Touquoy is progressing ahead of schedule.' 'A significant 18-day annual plant shutdown was completed, increasing production reliability. Q1 gold production was 12,233 ounces at an AISC of A$3,905 per ounce. FY25 guidance remains at 65,000 to 75,000 ounces of gold production.' 'Total cash, bullion, and listed investments amounted to A$194 million with no bank debt. Gold sales for the quarter were 12,949 ounces at an average price of A$3,733 per ounce.' 'Promising results from diamond drilling at the Sorowar - Pigiput trend. Ongoing exploration in Papua New Guinea and Canada, with significant drilling programs planned.' 'Reportable injuries reduced, with proactive reclamation efforts at Simberi and Touquoy. Touquoy mine in Nova Scotia is progressing towards full reclamation, a first in the province.' 'Continued focus on project optimization, exploration, and maintaining financial strength. The company is preparing for potential regulatory improvements in Canada and advancing its renewable energy initiatives.