Gwalia Extension Key To St Barbara Outlook
Expansion activities weighed on the performance of St Barbara’s Gwalia mine in the September quarter but increased production is likely from mid 2020.
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News
Mining Deals: St Barbara Seals Atlantic Buy, Northern Minerals Raises Capital For Rare Earths
Gold miner St Barbara says it has completed the $780 million purchase of Canadian group Atlantic Gold Corporation after shareholder approvals were given last week.
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St Barbara Joins In On North American Gold Rush
The Australian gold rush to North America is accelerating. St Barbara has joined Newcrest and North Star resources in spending up big on mines in either Canada or Alaska. Total spend so far has topped $2.2 billion.
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Gwalia Setback Unlikely To Hamper St Barbara
St Barbara has encountered a setback in its feasibility study for the mass extraction project at Gwalia, resulting in a reduction to production guidance amid higher costs.
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St Barbara Emerges As A Key Gold Pick
Gold miner St Barbara ((SBM)) has come a long way over the past few years, such that broker interest has been reinvigorated. Citi reinstates coverage with a Buy rating.
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Analyst Views
SBM – Credit Suisse rates the stock as Underperform
Continuing operations at Gwalia and Simberi were weaker in the September quarter, Credit Suisse notes. However, the company’s recently-acquired Atlantic Gold has performed in line with expectations and offset the weaker contribution from Gwalia and Simberi.
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SBM – Credit Suisse rates the stock as Underperform
Credit Suisse was impressed with the visit to the Torquoy mine and processing facility. The broker now appreciates why management was willing to pay a premium to acquire Atlantic Gold although still believes exploration success is necessary to bridge the premium.
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SBM – Citi rates the stock as Upgrade to Neutral from Sell
Commodities analysts at Citi this week revised their price forecasts for gold bullion, now predicting US$2000/oz in the medium term should be regarded as a genuine possibility.
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SBM – Credit Suisse rates the stock as Neutral
The company has produced a record 403,089 gold ounces in FY18 as Gwalia high-grade ore peaked. Simberi was also strong with its fourth consecutive record quarter in June.
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SBM – Credit Suisse rates the stock as Neutral
Preliminary March quarter production of 85,900 ounces has been announced while the company has increased FY18 guidance to 375-392,000 ounces.
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