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ASX Release / 20 August 2015
Sale of King of the Hills Project
St Barbara Limited has entered into an agreement with Saracen Metals Pty Ltd, a wholly owned subsidiary of Saracen Mineral Holdings Ltd, to sell the King of the Hills mine and Kailis resource, subject to various third party consents and Australian government approvals.
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 of the sale is A$3 million cash, with A$300,000 payable on Completion and the balance due on the earlier of commercial production of ore at the Kailis Project or 4 years from Completion. Completion will take place 10 business days after obtaining the necessary consents and approvals and is expected to occur by the end of October 2015. Upon Completion, St Barbara will reverse non-cash provisions for rehabilitation applying to the tenements being sold.
Investor Relations
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Mr Rowan Cole Company Secretary
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+61 3 8660 1900
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Media Relations
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Ms Nerida Mossop Hinton & Associates
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+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 |
CODE : SBM.AX |
ISIN : AU000000SBM8 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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$ 131.8 millions as of today (US$ 85.9 millions, € 80.3 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. |