Simberi owner St Barbara posts AUD$192 million loss


BAI logo no textASX-listed gold producer, St Barbara Ltd, which owns the Simberi mine in Papua New Guinea’s New Ireland, has posted a full-year net loss of AUD$192 million (K409 million), due primarily to a lower gold price.

St Barbara’s acquisition of Allied Gold in September 2012 brought the Gold Ridge mine in the Solomon Islands and the Simberi operation in Papua New Guinea into the merged company.

Managing Director Tim Lenahy reported an increase in gold production by 8% over the year to 364,601 ounces.

The company’s profit before tax for its Australian operations was AUD$116 million, (K247 million) down from AUD$154 million (K328 million) last year.

The Pacific operations reported a loss of AUD$30 million (K64 million).

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