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St. Barbara ( (AU:SBM) ) has provided an update.
St Barbara Limited has entered into agreements with Lingbao Gold Group and Kumul Mineral Holdings to fund the expansion of the Simberi Gold Project. Lingbao will acquire a 50% interest in St Barbara Mining Pty Ltd for A$370 million, while Kumul will acquire a 20% stake in the Simberi Gold Project for A$100 million. This strategic partnership with Lingbao, a major Chinese gold producer, and Kumul’s involvement demonstrate strong support for the project, de-risking its development and accelerating its timeline. The transaction values the Simberi Gold Project at A$800 million, representing a significant premium to St Barbara’s market capitalization, and positions the company to advance its projects in Canada.
The most recent analyst rating on (AU:SBM) stock is a Hold with a A$0.57 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 a company in the gold mining industry, primarily focused on exploration, mining, and production of gold. The company is involved in various projects, including the Simberi Gold Project, and has interests in development projects in Nova Scotia, Canada. St Barbara aims to expand its operations and enhance its market position through strategic partnerships and investments.
Average Trading Volume: 10,448,109
Technical Sentiment Signal: Buy
Current Market Cap: A$647.2M
See more data about SBM stock on TipRanks’ Stock Analysis page.