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The Motley Fool Australia

St Barbara lifts Canada 15Mile mineral resources by 500,000 ounces to 2.5 million ounces

AI Market Summary
St Barbara reported a 0.5Moz (+20%) Mineral Resource Estimate increase at its Canada 15Mile Processing Hub to 2.5Moz, supported by additional drilling and methodology updates. The company plans an updated pre-feasibility study by end-September and a subsequent reserves update, improving project visibility. However, broader gold-miner weakness alongside a medium-term gold price downtrend muted equity reaction, limiting immediate market-wide impact.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-1.16%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Australia-listed St Barbara (ASX: SBM) said the Mineral Resources Estimate for its 15Mile Processing Hub project in Canada increased by 500,000 ounces, up 20% to 2.5 million ounces. The upgrade was based on an additional 71,000 metres of drilling data and updates to geological interpretations and estimation methodology. The company expects to finalise an updated Pre-Feasibility Study by the end of September and then proceed with an updated Ore Reserves Estimate.
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