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St. Barbara ( (AU:SBM) ) has issued an update.
St Barbara has confirmed that its Simberi Operations in Papua New Guinea are well stocked with diesel fuel despite global supply chain disruptions linked to shipping restrictions through the Strait of Hormuz. The site, which consumes around 65,000 litres of diesel per day for mining and power generation, currently holds about 4.7 million litres on Simberi Island, plus a further 3.5 million litres in storage in Lae and Port Moresby.
These combined inventories are expected to cover more than three months of operational requirements, reducing near-term fuel supply risk for the operation. The company also highlighted that pricing for the majority of this fuel—some 6.4 million litres—was locked in and paid for based on pre-conflict January benchmarks, which should help shield Simberi’s operating costs from recent diesel price spikes and support continuity of production.
The most recent analyst rating on (AU:SBM) stock is a Sell with a A$0.55 price target. To see the full list of analyst forecasts on St. Barbara stock, see the AU:SBM Stock Forecast page.
More about St. Barbara
St Barbara Limited is an Australian-listed gold mining company, with operations including the Simberi mine in Papua New Guinea. The company’s activities focus on gold extraction and processing, supported by substantial on-site power and mining fleets that are heavily reliant on diesel fuel for their ongoing operations.
YTD Price Performance: -0.86%
Average Trading Volume: 9,818,499
Technical Sentiment Signal: Hold
Current Market Cap: A$695.6M
See more insights into SBM stock on TipRanks’ Stock Analysis page.