Gold miner St Barbara (ASX:SBM)
has completed the acquisition of Bardoc Gold.
This comes after the Supreme Court of Western Australia approved the acquisition earlier this month. New shares under the scheme are set to commence trading on the ASX tomorrow.
“The completion of this major milestone has allowed us to lock in the acceleration of the Leonora Province Plan. The acquisition gives St Barbara access to the advanced Aphrodite and Zoroastrian underground deposits,” said chief executive officer Craig Jetson.
“Due to their proximity to road and rail infrastructure that connect them to Leonora, the deposits are expected to become additional ore sources to support the filling of the mill and the expansion to 2.1mpta."
“The acquisition also includes Bardoc’s extensive land package, contributing to St Barbara’s leading position in the Leonora province and provides a strong platform for the Company to deliver further organic growth for years to come.”
Shares in St Barbara (ASX:SBM)
are trading 2 per cent higher at $1.50.