The St Barbara Ltd (ASX: SBM) share price is in focus after the miner green-lit major project investments and reported an improved cash position, with Q4 attributable gold sales of 6,700 ounces and a cash balance of $475 million as at 30 June 2026.
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What did St Barbara report?
- Q4 FY26 attributable gold sales: 6,700 ounces from New Simberi at an average price of $6,314/oz
- Further 187 ounces sold from Touquoy at $6,572/oz
- Attributable gold production (Q4): 7,329 ounces, ahead of updated guidance
- Group cash balance at 30 June 2026: $475 million, plus $21 million in attributable New Simberi cash and bullion
- Quarterly operational cash flow from New Simberi: $29 million (100% basis)
- All-In Sustaining Cost (AISC) for New Simberi in Q4: $4,514/oz
What else do investors need to know?
St Barbara's board has approved the Final Investment Decision for the Touquoy Restart in Nova Scotia, with operations scheduled to recommence in late 2026. Recruitment is underway, and all major procurement is on track.
The US$333 million expansion at the New Simberi Gold Project is progressing, with earthworks close to completion and major equipment—including a new ball mill—set for delivery. Exploration continues delivering promising drilling results, particularly at Simberi, helping lay the groundwork for future growth.
St Barbara reports zero debt, no hedging, and remains fully funded to advance its three growth projects, aided by strong operational cash flow and a considerable cash and gold position.
What did St Barbara management say?
Managing Director & CEO Andrew Strelein said:
This has been a transformational quarter for St Barbara. At Nova Scotia, we approved the Final Investment Decision for the Touquoy Restart, with the mining contractor mobilising to site and processing on track to recommence by the end of calendar 2026. The 15-Mile Processing Hub Project permitting has advanced and more recently we have confirmed a 24% increase in Mineral Resources to 2.5 million ounces.
At New Simberi, construction of our US$333 million expansion with Lingbao Gold Group is progressing well, with earthworks, the ball mill delivery and the new wharf all advancing to schedule. Importantly, we remain financially strong, with A$509 million in cash, gold and investments, leaving St Barbara fully funded to deliver all three growth projects. New Simberi's operational performance continued to improve, as the operation increased production again and delivered cashflow to the business.
What's next for St Barbara?
Looking ahead, St Barbara is targeting a November 2026 restart for Touquoy in Nova Scotia, followed by relocation of the processing plant to the new 15-Mile Processing Hub around early 2028. An updated pre-feasibility study for the 15-Mile project is due by the end of Q1 FY27.
At New Simberi in Papua New Guinea, the expansion is on schedule, with main construction works and equipment deliveries in the pipeline. Exploration success across Simberi, Tatau, and Tabar islands could further strengthen the company's resource base.
St Barbara share price snapshot
Over the past 12 months, St Barbara shares have risen 68%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.
