St. Barbara's FY24 Strategic Investments and Growth Outlook
St. Barbara has unveiled its FY24 outlook report, focusing on its Atlantic and Simberi operations. The company has committed $8 million to the Atlantic growth strategy, with an additional $13-15 million to be invested by FY24's end. The major allocation is for the 15-Mile project in Nova Scotia. St. Barbara plans to provide updates on Beaver Dam mineral resources and conduct drill testing at Cochrane Hill in Q3 and Q4. For the Simberi growth strategy, a capital investment of $10-13 million is expected, funding resource definition drilling and optimization studies. The company holds a $236 million cash balance as of Q1 September FY24, including $47 million for the Touquoy mine reclamation bond. Interest income for FY24 is estimated at $3-5 million.