St Barbara (SBM) H2 2026 earnings summary

Executive summary

• FY26 centered on advancing Nova Scotia projects and funding New Simberi’s expansion; the Lingbao partnership and project approvals reshaped the portfolio and strengthened liquidity.

• Touquoy Restart and the New Simberi expansion reached Final Investment Decision; the 15-Mile Processing Hub advanced through study and permitting milestones.

Financial highlights

• Statutory profit after tax was A$489.7m, including a A$499.3m deconsolidation gain and A$18.2m profit from discontinued operations through transaction completion.

• Underlying net loss after tax was A$27.8m, excluding significant items and Simberi’s discontinued-operation earnings; FY25 underlying loss was A$17.5m, restated.

• Operating cash outflow was A$12.9m, versus A$81.1m in FY25; investing activities generated net inflow of A$305.4m, primarily reflecting the Lingbao transaction proceeds.

• A$78m was invested in growth capital, exploration, evaluation and feasibility work across Simberi and Nova Scotia.

Outlook and guidance

• Touquoy Restart targets processing by end-CY26; the 13-month campaign is expected to produce 38,000 oz and generate C$118m operating cashflow at a US$4,000/oz gold price.

• 15-Mile permitting is progressing toward a FID targeted for end-FY27; Environmental Assessment submission is planned for early CY27.

• FY27 priorities include Touquoy delivery, regional exploration and disciplined project execution; the September 2026 sale of the remaining New Simberi interest to Lingbao targets completion in Q3 FY27.