St. Barbara Ltd. ( (STBMF) ) has released its Q2 earnings. Here is a breakdown of the information St. Barbara Ltd. presented to its investors.
St. Barbara Ltd. is a mining company primarily engaged in the exploration, mining, and sale of gold, with key operations in the Simberi and Atlantic regions. The company is known for its focus on mineral exploration and project development, particularly in gold mining.
In its latest earnings report for the half-year ending December 2024, St. Barbara Ltd. reported a 12% decline in revenue from ordinary activities, amounting to A$97.3 million. The company also recorded a net loss attributable to members of A$48.5 million, reflecting a 14% increase in losses compared to the previous period. No dividends were declared for this period.
Key financial metrics highlighted a challenging period for St. Barbara, with significant losses from operations at the Simberi site, which reported a net operating loss of A$37.5 million. However, the Atlantic operations showed a net operating profit of A$6.5 million, driven by gold sales from the Touquoy plant’s ongoing clean-up. The company’s cash position stood at A$129.1 million, with additional restricted cash of A$89.9 million.
Strategically, the company announced a A$100 million institutional placement to accelerate the Simberi Sulphides project and plans to separate its Atlantic Operations to enhance shareholder value. This separation could involve a sale, vend-in, or demerger into a Canadian-listed entity, with completion expected in the first half of FY26.
Looking ahead, St. Barbara Ltd. remains focused on advancing its key projects and addressing operational challenges. The management is committed to maximizing shareholder value through strategic initiatives, including the potential separation of its Atlantic Operations, which is expected to provide a clearer focus on its core mining activities.