Gold miner St Barbara Ltd (ASX: SBM) says it will boost its gold production to 200,000 ounces per year by 2030, representing a compound annual growth rate of 59%.
The company expects to produce 48,000 ounces of gold in 2027, with production growing strongly from then on.
Company is cashed up
St Barbara added that it is fully-funded to meet the upcoming capital requirements of its growth projects, using cash on hand and expected cash flow from the Touqouy project restart and then the New Simberi Gold Project.
The Touquoy restart is expected to cost the company US$6 million in the first half of FY27 the company said, while New Simberi in Papua New Guinea would cost USS108 million over FY27-28.
The company's 15 Mile processing hub was then expected to cost US$201 million in FY29.
The company said in its statement to the ASX:
The production outlook combines the most recently approved Initial Life of Mine Plan for the New Simberi Gold Project which was completed concurrently with the Final Investment Decision (FID) (announced on 2 April 2026), the Pre-Feasibility Study on 15-Mile Processing Hub Project released on 21 January 2026 and the Touquoy Restart released on 13 April 2026. St Barbara anticipates attributable production rising at a compound annual growth rate (CAGR) of 59% from 48 koz in FY27 to 191 koz in FY30.
Hitting milestones
St Barbara managing director Andrew Strelein said regarding the forecast:
St Barbara's recent breakthroughs with the Mining Lease Extension and now FID on the New Simberi Gold Project, the permitting of the Touquoy Restart and the impressive results of the 15-Mile Processing Hub Project Pre-Feasibility Study set up the Company for an attractive gold production CAGR of 59% lifting attributable production to over 190koz in FY30 and more than 200koz in FY31. The Lingbao transaction ensures the Company is fully funded for development of these projects based on existing cash of more than A$500 million and cashflow from remnant Simberi oxides and the Touquoy Restart. This has been an incredible effort by the entire team with support from our partners and the relationships established with regulators in each jurisdiction through perseverance and ongoing engagement.
The Lingbao transaction refers to the deal finalised on April 2 under which Lingbao Gold Group paid St Barbara $389 million for a 40% stake in the New Simberi project.
St Barbara shares were 0.7% lower at 68 cents on Monday morning.
The company is valued at $829 million.
The post This ASX gold company has revealed a major boost to production over the next 4 years appeared first on The Motley Fool Australia.
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