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d8437bbd779b054f48232a.pdf
ASX Release / 16 October 2015
Sale of King of the Hills Project completed
St Barbara Limited completed yesterday the sale of the King of the Hills project and Kailis resource announced on 20 August 2015. The assets were sold to Saracen Metals Pty Ltd, a wholly owned subsidiary of Saracen Mineral Holdings Ltd.
The King of the Hills project ceased mining in April 2015, and had subsequently been placed on care and maintenance, with the associated capitalised mine development written off during FY15. The sale includes certain mine and related assets and rehabilitation liabilities located at King of the Hills and Kailis.
Consideration for the sale is A$3 million cash, with A$300,000 paid on Completion and the balance due on the earlier of commercial production of ore at the Kailis project or 4 years from Completion. St Barbara's 30 June 2015 Financial Report noted the present value of the A$2.7 million deferred settlement as A$2.3 million, and that on Completion the present value of the rehabilitation provision of A$13.9 million relating to King of the Hills and Kailis will be reversed to the Income Statement.
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Investor Relations Media Relations
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Mr Rowan Cole Company Secretary Ms Nerida Mossop Hinton & Associates
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+61 3 8660 1900
+61 3 9600 1979
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St Barbara Limited ACN 009 165 066
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Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003
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T +61 3 8660 1900 F +61 3 8660 1999
W www.stbarbara.com.au
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St Barbara Limited
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PRODUCER |
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CODE : SBM.AX |
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ISIN : AU000000SBM8 |
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St Barbara is a gold producing company based in Australia. St Barbara holds various exploration projects in Australia. Its main assets in production are SOUTHERN CROSS - MARVEL LOCH, GWALIA DEEPS (SONS OF GWALIA), SOUTHERN CROSS - YILGARN STAR, SOUTHERN CROSS - OTHER, SOUTHERN CROSS - TOTAL AREA, SOUTHERN CROSS - HERCULES, CORINTHIA MINE and MEEKATHARRA MINE in Australia, its main asset in development is LEONORA - TARMOOLA in Australia and its main exploration properties are SOUTHERN CROSS - NEVORIA, LEONORA - TOWER HILL, SOUTHERN CROSS - TRANSVAAL, SOUTHERN CROSS - JACCOLETTI, LEONORA - OTHER, GWALIA INT & WEST LODE, MARVEL LOCH, SOUTHERN CROSS - BULLFINCH and WALLAL in Australia. St Barbara is listed in Australia. Its market capitalisation is AU$ 149.2 millions as of today (US$ 95.5 millions, € 89.7 millions). Its stock quote reached its lowest recent point on December 05, 2014 at AU$ 0.07, and its highest recent level on February 22, 2019 at AU$ 5.32. St Barbara has 497 329 984 shares outstanding. |