St Barbara hits annual production record, Atlantic shareholders to vote on takeover

Company News

by Anna Napoli

St Barbara (ASX:SBM) has hit an annual production record at its PNG Simberi site after exceeding the previous record of 134,661 ounces of gold. The gold miner now expects to produce close to 140,000 ounces for FY19 beating the prior target of 135,000 ounces.

The miner says it has resolved the blocked paste reticulation circuit at its Gwalia operations with full year production guidance at the site maintained at about 220,000 ounces of gold.

Meantime, St Barbara's $768 million acquisition of Canadian based gold producer Atlantic is on track.

Atlantic securityholders will meet at a special meeting of Atlantic securityholders on July 15 in Vancouver to consider and vote on the takeover.

A final court order on the deal is expected on July 17.

Shares in St Barbara (ASX:SBM) are trading 1.69 per cent lower at $2.63.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.