St Barbara’s (ASX:SBM) FY20 gold production guidance dips

Gold miner St Barbara (ASX:SBM) has lowered its financial year 20 production guidance for its Western Australian Gwalia mine.

Gwalia production guidance for FY20 has been reduced to between 175,000 and 190,000 ounces from 200,000 to 210,000 ounces.

 Sustaining capital expenditures have increased to be between $60 to $65 million (previously $55 to A$65 million), and growth capital expenditure has increased to between $32 to $38 million (previously A$30 to A$35 million).

St Barbara has provided financial year 20 guidance for Canada based operations Atlantic Gold of between 95,000 and 105,000 ounces.

The miner says while nearing completion, the remaining Gwalia Extension Project (GEP) construction and raiseboring program is competing for constrained ventilation with scheduled production and development activities.

Shares in St Barbara (ASX:SBM) are trading 5.94 per cent lower at $2.62.

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Source: Finance News Network