St Barbara remains confident

WITH its takeover of Allied Gold complete, St Barbara is convinced it can overhaul the profitability of the Simberi gold mine in Papua New Guinea and the Gold Ridge mine in the Solomon Islands.
St Barbara remains confident St Barbara remains confident St Barbara remains confident St Barbara remains confident St Barbara remains confident

In a letter to its shareholders, St Barbara chairman Colin Wise said its gold operations in Western Australia provide strong cashflow to fund development and growth opportunities.

"We are well placed to leverage our proven capabilities in developing and operating open pit and underground operations to support increased production and anticipated unit cost reductions at the Simberi and Gold Ridge operations," Wise said.

St Barbara's strategic review of the two mines is expected to take three months to complete.

Macquarie Research analysts toured both sites and released their views last month.

They said St Barbara's management was "extremely optimistic" about achieving operational improvements at Simberi and Gold Ridge.

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