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Update: St Barbara to Sell Remaining Interest in Papua New Guinea Project, Shares Up 16%

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(Update to add stock movement in the headline and the fifth paragraph.)

St Barbara (ASX:SBM) agreed to sell its remaining interest in the New Simberi project in Papua New Guinea to China-based Lingbao Gold Group for AU$410 million in cash, along with additional cash repayments and royalties, according to a Thursday filing with the Australian bourse.

The company will receive AU$43 million in cash repayment representing its share of construction capital for the project between April and the signing of the agreement, with Lingbao to also fund future capital requirements until completion, the filing said.

Additionally, the company will receive a 2.8% net smelter return royalty on future gold and silver production, and a 1.5% net smelter return royalty on future minerals production from the Tabar Island Group exploration licenses.

The transaction is expected to be finalized in the March quarter of 2027, per the filing.

Its shares jumped 16% in recent trading on Thursday.

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