PERTH (miningweekly.com) – Gold miner St Barbara expects its cash balance to exceed its debt by the December quarter, with the miner saying that only $73-million notes remain on issue following its last $55-million buy-back.
St Barbara reported on Thursday that its total cash at bank had increased by A$17-million during the September quarter to A$154-million at the end of last month.
The strong cash position comes on the back of a consistent production profile from its operations, with St Barbara reporting that gold production from the Gwalia mine, in Western Australia, had reached 67 118 oz, compared with 65 098 oz in the previous quarter.
The Simberi mine, in Papua New Guinea, delivered 25 429 oz of gold during the quarter, which compared with the 26 935 oz produced in the previous quarter.
Total gold production for the three months to September remained steady at 92 547 oz, compared with the 92 033 oz produced in the June quarter.
Edited by: Creamer Media Reporter
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