St Barbara (SBM) Mining Forum Americas 2026 summary

Strategic transactions and financial position

• Completed sale of remaining Simberi stake for AUD 453 million cash, with an additional 2.75% royalty and a pro forma cash position expected to reach AUD 880 million, fully funding future projects and enabling further cash realization from the royalty portfolio.

• Board considering a special fully franked dividend of AUD 0.13 per share and a share buyback of up to 100 million shares, with further capital distribution opportunities under review.

Nova Scotia project development and milestones

• Touquoy Restart approved and scheduled to commence ore processing by end of December, targeting 38,000 oz gold over 13 months at an average AISC of US$1,598/oz.

• 15-Mile Processing Hub feasibility study accelerated for March completion, with environmental assessment starting January and final investment decision targeted for June quarter; production start aimed for FY30.

• 15-Mile Processing Hub updated PFS shows 13-year mine life, 1.44Moz Ore Reserves, and average annual production over 100,000 oz.

Resource upgrades and operational improvements

• July resource upgrade increased reserves by 17%, extending mine life to 13 years and boosting annual production to 120,000–130,000 oz in years two and three.

• Lowered AISC and strip ratio, with post-tax NPV estimated at AUD 1.7–2.7 billion depending on gold price.

• Interim stockpile processing expected to yield 38,000 oz and generate AUD 120–130 million.