Australia's St Barbara dives on cutting gold output forecast at Simberi operations

St Barbara

27/05/2024 01:46

** Shares of St Barbara Ltd  SBM.AX  fall 13.4% to A$0.24 
    ** Australian gold miner cuts Q4 and FY24 gold production
forecast for its Simberi ops 
    ** Sees Q4 production of about 14,000 ounces, down from
20,000 ounces it forecasted earlier due to lower-than-targeted
mining movement volumes on poor excavator availability
    ** Cuts FY production forecast to between 52,000 to 56,000
ounces vs last forecast of 60,000 to 70,000 ounces
    ** Stock posts its biggest intraday percentage fall since
Jan 27, 2023 
    ** Including session's losses, stock up ~14% this year

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))