St Barbara (SBM) operations post best quarter in years
St Barbara (SBM) +10.33%: had the help of a higher gold price, but the bulk of today’s jump for SBM came on the back of the 4th quarter production update which saw a strong finish to the year. While the full report is due later this month before the full year report, St Barbara managed just shy of 382koz of gold production in the financial year, in line with guidance of 370koz-400koz. The final quarter saw gold production top 100koz for the first time in a period since FY18. While other gold names continue to have operational issues (Northern Star most recently and Newcrest consistently over recent years), today’s update from St Barbara shows that at least one local gold name is ready to take advantage of the spiking gold price. The company also moved into a net cash position with total debt at $316m below their $406m cash position. We are looking at gold exposure and SBM is certainly on the radar after todays strong update.
St Barbara (SBM) Chart
