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Highlights:
- St Barbara has shared its financial report for June quarter today as per which the gold production has touched more than 86k ounce in the quarter.
- The company has ended the quarter with a robust cash balance of AU$99 million.
- St Barbara’s share price also went up 3.055% at 11:03 AM AEST on the ASX today.
Leading Australian miner, St Barbara Limited (ASX:SBM), on 27 July 2022, shared its quarterly report for the fourth quarter of FY22, for the period ended on 30 June 2022 (Q4 FY22). Followed by this significant update, St Barbara shares gained 3.055% to AU$0.927 per share at 11:03 AM AEST on the ASX today (27 July).
As per the Q4FY22 results, the gold miner has successfully achieved its expected production and All-in Sustaining Cost.
Details of St Barbara’s Q4 FY22 results:
The fourth quarter of FY22 was a strong period for the company as it managed to deliver the expected results. Company’s gold production went up by 40% from the previous corresponding period.
The production was increased in the given period due to several reasons in different gold mines. In Leonora, gold production went up due to improved grades. At Simberi, production was higher due to the speedy recovery from the COVID-19 outbreak. At Atlantic, the mine struggled with weather-related challenges in the March quarter but subsequently got access to higher-grade mining zones later.
Image source: © Palerider | Megapixl.com
Apart from that, St Barbara also showed an improvement in its All-in Sustaining Cost in the June quarter by 12%, compared to the previous quarters. The company’s All-in sustaining Cost stood at AU$2,007 per ounce in the given period. The gain in AISC was primarily driven by a higher grade of gold production at Leonora and Atlantic.
The gold miner ended the quarter with a strong cash balance worth AU$99 million as of 30 June 2022. St Barbara’s total debt as of 30 June 2022 was CA$80 million and $50 million.
The company is expected to release its FY22 full-year results on 25 August 2022, along with the FY23 production and cost guidance, on the same day.
St Barbara’s share price overview on the ASX:
St Barbara’s share price has plummeted by more than 49% on the ASX during last 12 months. The gold miner’s YTD-based share price also fell by more than 35% (as of 1:26 PM AEST on the ASX today, 27 July).
