SBM.ASX: 31 December 2024 Mineral Resource and Ore Reserve Statement

31 December 2024 Mineral Resource and Ore Reserve Statement

Stock	ST Barbara Ltd (SBM.ASX)
Release Time	19 Feb 2025, 8:20 a.m.
Price Sensitive	Yes

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St Barbara Reports Increase in Mineral Resources and Ore Reserves

Key Points

Total Mineral Resources increased by 3% to 6.9 Moz of contained gold
Total Ore Reserves increased by 21% to 4.0 Moz of contained gold
40% increase in Ore Reserves at Simberi Operations

Full Summary

St Barbara Ltd has reported its Mineral Resources and Ore Reserves statement as of 31 December 2024. The company's Mineral Resources are estimated at 168.5 Mt @ 1.3 g/t Au for 6.9 Moz of contained gold, up from 154.9 Mt @ 1.4 g/t Au for 6.7 Moz at the end of 2023. The Ore Reserves are estimated at 83.5 Mt @ 1.5 g/t Au for 4.0 Moz of contained gold, up from 70.8 Mt @ 1.5 g/t Au for 3.3 Moz at the end of 2023. The main driver of the increase in Ore Reserves was a 40% increase at the Simberi Operations, announced in July 2024, due to resource definition and exploration drilling and a revised geological model. The statement does not include any results from the ongoing FY25 diamond drilling program at Simberi, which is focused on expanding the Mineral Resources.

Guidance

The company reported a 21% increase in Group Ore Reserves to 4.0 Moz of contained gold as of 31 December 2024.