Goldie St Barbara makes second cash call in 12 months raising $58m from institutional investors for SimberiSimone GroganThe West AustralianTue, 7 October 2025 9:27AMEmail Simone Grogan
St Barbara has managed to raise $58 million from its largest investors to advance studies for the Simberi mine in Papua New Guinea, where prospective buyers have been shown around.
Shares in the West Perth-based gold developer plunged more than 16 per cent to 50¢ on Tuesday as details of the placement revealed institutional investors had been offered stock at a 9.7 per cent discount.
The call for cash comes within weeks of St Barbara telling the market there had been “unsolicited expressions of interest” in its PNG operations and that “several” interested parties had progressed to due diligence and had taken a look at the asset. There has been no update from the miner on the process since then.
Tuesday’s placement will top up St Barbara’s coffers and allow it to plough more money into expanding its fleet at Simberi and finish a revised feasibility study for the mine before the end of this year.
Simberi is an open-cut mine and has been part of St Barbara’s portfolio since 2012.
The cash will also go towards finishing a pre-feasibility study for the 15-Mile development project in Nova Scotia.
Record gold prices have put a rocket up many developers to take advantage of the strong price environment and advance their assets.
There will be 126.1 million new St Barbara shares issued at 46¢ apiece under the placement led by St Georges Terrace broker Argonaut. King & Wood Mallesons and Gilbert + Tobin acted as legal advisers.
The miner raised $100m from investors in November 2024.
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