Group gold production for the December quarter was flat at 65,523 ounces at all-in sustaining costs of A$1587 an ounce.

The company received an average gold price of $2423/oz for a margin of $836/oz.

Half-year production was 133,000oz at AISC of $1539/oz.

The company narrowed its full-year guidance from 305,000-355,000oz to 305,000-335,000oz and lifted its AISC guidance to $1650-1815/oz from $1710-1860/oz.

St Barbara dropped guidance for Atlantic from 65,000-85,000oz at $1305-1515/oz to 55,000-65,000oz at $1650-1850/oz due to delays in the grant of waste rock permits and heavy rainfall.

Production at Simberi is expected to be at the bottom end of the guidance range of 60,000-70,000oz due to the installation of the deep-sea tailings pipeline in December.

AISC guidance has been lowered to $1600-1850/oz from $2465-2650/oz due to only six months of production for the year.

Leonora production is expected to be at the top end of guidance of 180,000-200,000oz and despite higher quarterly costs, AISC guidance remains at $1605-1720/oz.

St Barbara CEO Craig Jetson described the December quarter as a momentous period for the company in which it announced the scrip takeover of Bardoc Gold.

The company reported encouraging drill results from Old South Gwalia, including 10.4m at 19.9 grams per tonne gold from 751m; 37.4m at 3.3gpt gold from 756m; and 10.2m at 9.2gpt gold.

Jetson said the results highlighted the potential to open up new mining fronts higher in the Gwalia mine.

The company is targeting an updated resource for the area by the end of June.

St Barbara closed 2021 with cash of $94 million, more than double its bank balance three months earlier.

The company owes C$80 million and A$50 million under syndicated facilities, with the latter amount drawn down during the December quarter.

Shares in St Barbara fell 5.2% today to $1.302, not far off the seven-year low seen in early December.