St Barbara gold production exceeds guidance

Company News

by Kathy Skantzos

Gold producer and explorer St Barbara (ASX:SBM) has revised its FY2018 gold production guidance, after exceeding half year gold production.

While its Gwalia operations produced lower than anticipated mined volume in Q2, this was offset by higher than anticipated mined grade of gold.

In addition, the Simveri operations reflected higher mined grade of gold in Q2.

The company reports total cash at $216 million as of 31 December 2017 with no debt.

Managing Director and CEO Bob Vassie said the company’s operations continue to perform well, with flexibility to deliver further value to shareholders through organic growth prospects and other growth opportunities.

Shares in St Barbara (ASX:SBM) are trading 0.8 per cent higher at $3.78.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.