St Barbara’s (ASX:SBM) share price jumps 14%; here’s why

November 09, 2022 03:38 PM AEDT | By Sonal Goyal

St Barbara’s (ASX:SBM) share price jumps 14%; here’s why — Image source: © Sharafmaksumov | Megapixl.com

How are peers of St Barbara performing today?

Peers of St Barbara also registered gains on the ASX today. Newcrest Mining Limited’s (ASX:NCM) share price grew by 6.97%, Evolution Mining Limited’s (ASX:EVN) share price by 8.60%, Regis Resources Limited’s (ASX:RRL) share price by 11.84% and Northern Star Resources Limited (ASX:NST) by 7.45%.

The share price of Alkane Resources Limited (ASX:ALK), a gold mining and production group, was trading 5.04% higher at AU$0.67 per share at 12:39 PM AEDT.

Commodity price

On Tuesday (8 November 2022), gold price touched the US$1,700 per ounce mark. The gold prices strengthened because of the retreat of the US dollar.

Financial performance of St Barbara

Gold production during the financial year 2022 (FY22) dipped to 281koz from 328koz in FY21. AISC (all-in sustaining costs) during the year was AU$1,848 per ounce, up from AU$1,616 per ounce. The company recorded growth capital of AU$61 million and sustaining capital of AU$69 million.

The underlying EBITDA was AU$197 million, underlying NPAT was AU$24 million, and cash flow from operating activities was AU$88 million.

In FY23, the company expects gold production of 145 to 160 Koz (thousand ounces) from its Leonora operations, 70 to 80 Koz from Simberi operations and 40 to 50koz of production from Atlantic operations.

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