St Barbara sees growth ahead
November 18, 2009
St Barbara Limited (SBM), at its Annual General Meeting, said that the future growth for the company would be underpinned by its Gwalia mine, near the town of Leonora in Western Australia. The company is developing the mine to gain access to deeper parts of the orebody and said it was on track to achieve forecast guidance of between 205,000 and 240,000 ounces of gold in the current financial year.
By the end of the 2012 financial year the company said it was forecasting to produce between 300,000 and 340,000 ounces of gold.
The growth, the company said would be underpinned by a number of factors, including strengthened operational and management capability and higher margin operations from end of FY2011 as increased production from the Gwalia mine kicks in.
Furthermore, St Barbara said the company would renew exploration and use of available treatment plant capacity. At 1054 AEDT, St Barbara shares were up 1.5c to 36.5c.
By the end of the 2012 financial year the company said it was forecasting to produce between 300,000 and 340,000 ounces of gold.
The growth, the company said would be underpinned by a number of factors, including strengthened operational and management capability and higher margin operations from end of FY2011 as increased production from the Gwalia mine kicks in.
Furthermore, St Barbara said the company would renew exploration and use of available treatment plant capacity. At 1054 AEDT, St Barbara shares were up 1.5c to 36.5c.
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