St Barbara adds Simberi hedging

GOLD miner St Barbara has added 90,000 ounce of hedging to its books covering some of the production from its Simberi operation in Papua New Guinea this year and into 2019.

St Barbara adds Simberi hedging St Barbara adds Simberi hedging St Barbara adds Simberi hedging St Barbara adds Simberi hedging St Barbara adds Simberi hedging

The hedging has a price of A$1750 per oz.

Simberi is forecast to produce 115,000-125,000oz at all-in-sustaining-costs of between $1130 and $1230/oz, with the operation producing 133,208oz in calendar 2017 – including 36,674oz in the December quarter. 

St Barbara already had 60,000oz hedged for Simberi for the first half of this year at $1728/oz.

St Barbara sold a total of 95,392oz from its operations in the December quarter at an average realised gold price of $1686/oz.

Total cash at bank at December 31, 2017 was $216.3 million, up from $199 million a quarter earlier and following an income tax payment of $31 million and further investments in Catalyst Metals and Peel Mining totalling $11.5 million.

Shares in St Barbara were down 2% to $3.62 in afternoon...