St Barbara Limited reported a robust Q4 June 2025 with gold sales surging 34% and full-year production meeting guidance, supported by a strong cash position and improved safety metrics.
- Q4 gold sales rose 34% to 15,564 ounces
- Gold production up 4% in Q4, 27% higher in H2 FY25
- FY25 gold production of 51,168 ounces within guidance
- Cash, bullion, and investments total A$186 million with no debt
- Safety performance improved, injury rate reduced to 1.1
Strong Quarter for Gold Sales and Production
St Barbara Limited has delivered a solid finish to FY25, with gold sales for the June quarter climbing 34% to 15,564 ounces compared to the previous quarter. This uplift was driven in part by clean-up gold recovery at the Touquoy operation, which contributed an additional 853 ounces. Meanwhile, gold production increased by 4% quarter-on-quarter to 14,620 ounces, reflecting operational improvements and resilience despite challenging weather conditions.
Meeting Full-Year Production Guidance
The company’s full-year gold production reached 51,168 ounces, comfortably within its revised guidance range of 50,000 to 52,000 ounces. Notably, production in the second half of FY25 surged 27% compared to the first half, signaling improved operational momentum. This performance was achieved despite significant rainfall events, including a severe downpour exceeding 60 millimeters in a single hour late in June, which tested the company’s mining and dewatering capabilities.
Financial Position and Safety Improvements
St Barbara’s financial position remains robust, with cash, gold on hand, and listed investments totaling A$186 million at quarter-end. This includes A$68 million in unrestricted cash and A$89 million in restricted cash and investments. Importantly, the company maintains a debt-free balance sheet and has no hedging arrangements, positioning it well for flexibility in capital allocation. Safety performance also improved, with the Total Recordable Injury Frequency Rate dropping from 1.7 to 1.1, underscoring the company’s commitment to workplace wellbeing.
Looking Ahead
While capital expenditure and all-in sustaining cost figures for the quarter are pending release in the upcoming quarterly report, the current results suggest St Barbara is on track to sustain operational efficiency and financial discipline. The company’s ability to navigate adverse weather and maintain production targets will be key as it moves into FY26.
Bottom Line?
St Barbara’s strong finish to FY25 sets a confident tone, but upcoming cost details will be critical for assessing future profitability.
Questions in the middle?
- What will the upcoming quarterly report reveal about capital expenditure and sustaining costs?
- How will St Barbara manage operational risks posed by extreme weather in FY26?
- What strategic moves might the company make given its strong cash position and debt-free status?