March 30, 2026 -- St Barbara Limited (“St Barbara” or the “Company”) (ASX:SBM) is pleased to provide the following update on the Lingbao Gold Group (“Lingbao”) and Kumul Mineral Holdings Limited (“Kumul”) transactions, in relation to the New Simberi Gold Project announced 10 December 2025.
The following table outlines the status of satisfaction (or waiver, as applicable) of the conditions precedent in the Lingbao transaction agreements as outlined in the Company’s announcement of 10 December 2025:
Completion of both the Lingbao and Kumul transactions are planned for the first days of April 2026, with Final Investment Decision on the New Simberi Gold Project also triggered on the same date, under the terms of the respective agreements signed in December 2025.
At completion St Barbara will receive A$370million in cash from Lingbao (inclusive of the deposit amount in escrow of $32 million).
In brief
St Barbara Limited reported that Lingbao Gold Group has received approvals from Chinese and Papua New Guinean regulators, meeting a key condition for the transactions involving the New Simberi Gold Project. Completion of the Lingbao and Kumul Mineral Holdings transactions is planned for the first days of April 2026, subject to the remaining conditions being satisfied or waived as applicable. The company says a Final Investment Decision for the project is also expected to be triggered on the completion date under the agreements signed in December 2025. At completion, St Barbara is due to receive A$370 million in cash from Lingbao, including a $32 million deposit held in escrow. Managing Director and CEO Andrew Strelein said the company remains confident the outstanding conditions will be met in time for the planned completion.
Key takeaways
- Lingbao received Chinese and Papua New Guinean regulatory approvals, satisfying a key transaction condition.
- Completion of the Lingbao and Kumul transactions is planned for the first days of April 2026.
- A Final Investment Decision on the New Simberi Gold Project is planned for the completion date.
- St Barbara says it will receive A$370 million in cash from Lingbao, including the escrowed deposit.
Managing Director and CEO Andrew Strelein said:
“The receipt of Lingbao’s approval from Chinese and PNG regulators is very positive step and satisfies a key condition precedent in completion of the transactions. The parties have been targeting the end of March quarter for completion and St Barbara remains confident the remaining conditions will be met to allow completion on track in the first days of April 2026 and declaring Final Investment Decision on the New Simberi Gold Project.”
Authorised by
Andrew Strelein
Managing Director and CEO
For more information
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Source: https://news.marketersmedia.com/update-on-simberi-transactions/89187177
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Questions around this news
When are the Lingbao and Kumul transactions expected to complete?
St Barbara said completion of both transactions was planned for the first days of April 2026. The company also said the Final Investment Decision on the New Simberi Gold Project was planned for the same date, subject to the terms of the agreements signed in December 2025.
What regulatory approval has Lingbao received?
St Barbara reported that Lingbao had received approval from Chinese and Papua New Guinean regulators. The company described this as satisfying a key condition precedent to completing the transactions, while noting that other conditions still needed to be met.
How much cash will St Barbara receive from Lingbao at completion?
At completion, St Barbara is to receive A$370 million in cash from Lingbao. The stated amount includes the $32 million deposit held in escrow. The release says the payment is tied to completion of the transaction.
What does a Final Investment Decision mean for a mining project?
A Final Investment Decision is the formal choice to proceed with a project after assessing whether to commit the required capital and resources. It generally follows evaluation of factors such as project costs, expected returns, technical feasibility, permits and financing. Making the decision does not itself guarantee that every later project milestone will be achieved.
