en.Wedoany.com Reported - St Barbara, an Australian Securities Exchange (ASX)-listed gold miner, reported an 8% quarter-on-quarter increase in gold production at its new Simberi mine in Papua New Guinea for the quarter ended June 30.

The new Simberi mine is jointly owned by St Barbara (50% stake), China's Lingbao Gold Group (30% stake), and Papua New Guinea's Kumul Mineral Holdings (20% stake). St Barbara's attributable gold production for the quarter was 7,329 ounces, with total mine production reaching 14,658 ounces.

This output exceeded St Barbara's production guidance of 5,600 to 6,800 ounces for the new Simberi mine in the quarter.

Gold sales from the new Simberi mine totaled 13,339 ounces in the quarter, with a realized gold price of A$6,314 per ounce.

Full-year gold production from the operation was 48,395 ounces, with total sales of 47,280 ounces.

Ore processing at the new Simberi mine increased by 19% quarter-on-quarter, with an average head grade of 1 gram per tonne.

Ore mining volume decreased by 17% quarter-on-quarter due to waste backfill clearing at the Pigibo open pit, but this was offset by a 12% increase in mining grade during the quarter.

St Barbara's total attributable cash, gold bullion, and listed investments for the quarter stood at A$509 million, including A$18 million from the sale of 6,700 ounces of attributable gold from the new Simberi mine at an average gold price of A$6,314 per ounce.

St Barbara currently maintains no bank debt and remains unhedged. The company is set to release its full quarterly report in late July.