St Barbara (SBM) Q1 2027 TU earnings summary

Executive summary

• Nova Scotia growth advanced: Touquoy Restart remained on track, while the 15-Mile Processing Hub PFS Update lifted Ore Reserves 17% to 1.4 Moz and extended mine life to 13 years.

• Binding agreement reached to sell the remaining New Simberi interest to Lingbao Gold Group for A$410 million cash plus A$43 million repayment of capital contributions, with retained royalties.

Financial highlights

• Cash was A$416 million at 30 September 2026, excluding A$33 million attributable cash at New Simberi; listed investments were A$14 million. No debt or hedging.

• Q1 cash flows before financing costs were negative A$26 million; net cash movement was negative A$59 million, taking the cash balance from A$475 million to A$416 million.

• New Simberi growth capital was A$67 million on a 100% basis; Nova Scotia growth capital was A$13 million. Touquoy rehabilitation spend was A$8 million.

• Fully franked A$0.05/share dividend, declared 28 August 2026, was paid 16 October 2026.

Outlook and guidance

• 15-Mile Feasibility Study is targeted for Q3 March FY27 and FID for Q4 June FY27, subject to permitting progressing on schedule.

• 15-Mile PFS Update forecasts average annual gold production of 106 koz and average AISC of US$1,098/oz (A$1,685/oz); output is expected to exceed 120 koz in FY31 and FY32.

• Touquoy stockpile processing remains targeted for Q2 December FY27; commissioning is anticipated to begin in November 2026.

• New Simberi first sulphide ore processing remains targeted for mid-calendar 2028; crushing and grinding commissioning shifted from Q4 June FY27 to Q1 September FY28.