St Barbara (ASX: $SBM) announces increased gold production target

St Barbara Limited (ASX: $SBM) has announced a target annual gold production of 70,000 to 75,000 ounces for Simberi for the financial years 2025 to 2027. This follows successful collaboration with Stratum Al in identifying additional CIL treatable material and the deployment of artificial intelligence-based algorithms in the grade control process.

Executive Commentary on Increased Gold Production Target

The Managing Director and CEO, Andrew Strelein, expressed satisfaction with the collaboration with Stratum AI, stating, 'The work achieved with Stratum AI has been highly effective in enabling the Simberi team to delineate more ore which can be treated with the existing CIL plant.' He further added, 'The increased confidence built from the practical application of the Al work in the last quarter has given us the confidence to reclassify our material types under this new method and add 143 koz of material that can be processed through the existing circuit.' Strelein also highlighted the significance of this achievement in planning for stable annual gold production over the next three years and the transition to production of a gold concentrate from the sulphide ores.

Summary of St Barbara's Production Target and Outlook

St Barbara Limited (ASX: $SBM) has set a target annual gold production of 70,000 to 75,000 ounces for Simberi for the financial years 2025 to 2027, representing an increase from the previous guidance range. The successful collaboration with Stratum Al has led to the identification of additional CIL treatable material, allowing for the reclassification of 3.7 Mt @ 1.2 g/t Au for an additional 143 koz of material suitable for the existing flowsheet. This achievement provides confidence in planning for stable annual gold production over the next three years and the transition to production of a gold concentrate from the sulphide ores. The company's outlook, incorporating Expansion Concept Study outcomes, remains on track for announcement later this month, indicating a positive trajectory for St Barbara's production and operational strategies.