St Barbara Limited (ASX:SBM) climbed up after updating the market about its production results

St Barbara released a production update for the June 2018 quarter (Q4 FY18) and full year FY18. The Group reported an increase of 6 per cent on FY17 in gold production on consolidation basis and exceeded 400,000 ounces in a year for the first time.  Cash at Banks and term deposits was  recorded at A$344 million at 30 June 2018 (31 March 2018: A$262 million), plus 9,512 ounces of gold in transit from Simberi. Production at Gwalia in the Quarter was recorded at 84,537 ounces and 268,428 ounces for the full year. As earlier expected working faces were available for production in Q4 and 204 kt of ore was milled during the quarter at an average grade of 13.2 g/t Au that reflected mining from higher grade zones of the South West Branch.

Production at Simberi was recorded at 34,899 ounces of gold in the quarter and 134,661 ounces for the full year and marked its fourth consecutive annual production record and major contributors to the record result included incremental improvements in mining and fixed plant operations and higher grades mined near the sulphide/oxide boundary. Further, the Company will release a full report of its operations (including production costs, cash flow details, FY19 guidance and an update on the Company’s growth projects) on 25 July 2018. These production results support its ongoing investment in extending its future, and the Simberi result encourages further consideration of the sulphide project. After updating the market about its production, the stock climbed up by 7.17 per cent and was trading at $5.12 that is near to its 52-week high price($5.11) (as on 06 July 2018; 02:00 PM AEST).


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