St. Barbara Limited
(ASX:SBM) has maintained its guidance for the current financial year despite not meeting production expectations at its Gold Ridge project in the Solomon Islands.
The miner says intensive work is underway to boost operating performance at the site after poor mining performance and unit costs impacted its quarterly output.
St. Barbara sold over 76, 000 ounces of gold in the September quarter for an average price of $1587 an ounce.
It also reported a $109 million cash at bank decrease for the quarter, although cash flow from Australian operations was sufficient to fund capital expenditure.
St. Barbara achieved full year net profit of $130 million for fiscal 2012.
