• Net loss of $48.5 million, down 14% from prior period
• Simberi Sulphide project progressing, $100 million placement to accelerate first production
• Atlantic Operations to be separated from St Barbara Group

St Barbara Limited has reported a net loss of $48.5 million for the six months ended 31 December 2024, a 14% decrease from the prior period. The loss was driven by a net operating loss of $37.5 million at the Simberi operation, partially offset by a net operating profit of $6.5 million at the Atlantic Operations. Key achievements during the period include a $100 million institutional placement to accelerate the Simberi Sulphide project, the renewal of the Simberi mining lease, and the signing of a Memorandum of Understanding with Kumul Mineral Holdings Limited to negotiate the sale of up to 20% of the Simberi project. The company also announced plans to separate the Atlantic Operations from the St Barbara Group to maximize shareholder value, with expectations for the divestment to be completed in the first half of FY26.

St Barbara is focused on advancing the Simberi Sulphide project and separating the Atlantic Operations to maximize shareholder value. The company is working to reconsider a recent tax assessment from the Papua New Guinea Internal Revenue Commission, which it believes is flawed.