What’s with the St Barbara (ASX:SBM) share price today?
Lucas Radbourne | April 27, 2021 12:40pm |
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St Barbara Ltd(ASX: SBM) shares are edging lower today despite the company reporting its Simberi Sulphide Feasibility Study highlighted “a robust project with strong financial returns”. At the time of writing, the St Barbara share price is trading 1.98% lower at $2.03.
St Barbara is a gold mining company with projects comprising Leonora in Western Australia, Simberi in Papua New Guinea and Atlantic in Canada. The majority of the company’s revenue is generated by gold sales from its Gwalia underground mine at the Leonora project.
St Barbara (ASX:SBM) approves pre-investment in Simberi
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St Barbara’s (SBM) Board has approved pre-investment work at the company’s Simberi operations in Papua New Guinea
Approval was given after the company’s Simberi sulphide feasibility study highlighted a robust project with strong financial returns
Approximately A$16.6 million in pre-investment will fund a mining ramp-up, drilling to increase ore body knowledge and studies to de-risk the project
The company aims to make a final investment decision about its Simberi operations in March of next year
St Barbara is down 1.22 per cent and trading at $2.02 per share