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).
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
Investor Relations
David Cotterell
General Manager Business Development &Investor Relations
T: +61 3 8660 1959 M: +61 447 644 648
Media Relations
Paul Ryan / Russell Quinn
Sodali & Co.
M: +61 409 296 511 / +61 403 322 097
Source: https://news.marketersmedia.com/update-on-simberi-transactions/89187177
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