Key points
- St Barbara to sell remaining interest in New Simberi Gold Project for A$453m cash plus royalties
- Transaction expected to complete in Q3 FY27
- Consideration includes A$410m cash payment and 2.75% NSR on New Simberi and 1.5% NSR on Tabar Islands
- Potential for additional A$0.13 per share fully franked dividend
- Completion to enable focus on Nova Scotia growth pipeline
Full summary
St Barbara Limited has announced the sale of its remaining interest in the New Simberi Gold Project to Lingbao Gold for A$453 million in cash plus royalties. The transaction, expected to complete in Q3 FY27, includes A$410 million in cash, A$43 million in capital repayments, and royalty rights on New Simberi and Tabar Islands. The sale aims to crystallize value for shareholders and allow St Barbara to focus on its Nova Scotia growth pipeline, including the 15-Mile Processing Hub Project and the Touquoy Restart. Post-completion, St Barbara plans to review its royalty portfolio for additional value realization and may consider a special dividend of A$0.13 per share, in addition to the A$0.05 per share dividend declared on 28 August. The transaction is subject to regulatory and shareholder approvals.
Guidance
St Barbara expects to have A$880 million in attributable cash post-completion.
Outlook
Following the transaction, St Barbara will focus on its Nova Scotia projects, with the Touquoy Restart supporting development activities at the 15-Mile Processing Hub. A strategic review of the royalty portfolio is planned post-completion to assess additional value realization.