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Re: SBM - St. Barbara MinesSt Barbara is becoming more and more a straight gamble on gold's Aussie$ price. Costs are at AU$650 - AU$670 an ounce with gold presently around AU$1,270 an ounce.Ore reserves are up 43% to 3.1 million ounces.Debt is also a major worry with the banks feeling unable to increase their exposure. AU$120 million having been raised principally through a placing.The main earner is the resilient Southern Cross mine that raised profits 20% to AU$55 million on the back of the Aussie gold price. Mine life is 4 to 5 years.The Marvel Loch mine has 5 years left but has had problems with output.Capital costs continue to be a problem at Gwalia Deeps.Leonora higher grades at Tower Hill have confirmed the potential for an open-cut mine.First pour at Leonora in October of 1,000 ozs came from the Gwalia West Lode.Gwalia Deeps high grade commenced this quarter at a depth of 1,050 metres.
Re: SBM - St. Barbara Mines
St Barbara is becoming more and more a straight gamble on gold's Aussie$ price. Costs are at AU$650 - AU$670 an ounce with gold presently around AU$1,270 an ounce.
Ore reserves are up 43% to 3.1 million ounces.
Debt is also a major worry with the banks feeling unable to increase their exposure. AU$120 million having been raised principally through a placing.
The main earner is the resilient Southern Cross mine that raised profits 20% to AU$55 million on the back of the Aussie gold price. Mine life is 4 to 5 years.
The Marvel Loch mine has 5 years left but has had problems with output.
Capital costs continue to be a problem at Gwalia Deeps.
Leonora higher grades at Tower Hill have confirmed the potential for an open-cut mine.
First pour at Leonora in October of 1,000 ozs came from the Gwalia West Lode.
Gwalia Deeps high grade commenced this quarter at a depth of 1,050 metres.
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