PERTH (miningweekly.com) – Gold miner St Barbara is on track to meet its 2019 financial year production target, after producing 98 547 oz of gold during the three months to September.
Gold production for the September quarter was down from the 119 436 oz produced in the June quarter, as production from the Gwalia mine declined in the back of lower mill grades.
The Gwalia mine produced 62 685 oz of gold in the September quarter, compared with the 84 537 oz in the previous quarter, while the Simberi mine produced 35 862 oz of gold in the same period, up slightly from the 34 899 oz produced in the previous quarter.
St Barbara MD and CEO Bob Vassie told shareholders on Thursday that both operations continued to perform well, with the strong cash balance of A$350-million positioning the company to deliver on its organic growth projects, and allowing St Barbara to consider inorganic opportunities.
For the 2019 financial year, St Barbara is targeting gold production of between 350 000 oz and 375 000 oz, which compares with the 403 089 oz produced in the 2018 financial year.