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Lingbao Gold Buys Out St Barbara's Stake in Simberi Project

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Lingbao Gold (HKG:3330) agreed to acquire the 50%-1 share in Tabar Islands Holdings held by St Barbara (ASX:SBM) for AU$410 million, according to a Thursday Hong Kong bourse filing.

The target owns the Simberi gold mine in Papua New Guinea and two exploration licenses.

The acquisition will give Lingbao Gold full ownership, subject to regulatory approvals.

Lingbao expects Simberi's sulphide expansion to begin production from 2028, with annual output exceeding 200,000 ounces.

About 60%-70% of the consideration will be financed through domestic bank loans, with the remainder funded by Lingbao's own capital.

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Lingbao Gold Buys Out St Barbara's Stake in Simberi Project | FINWIRES