St Barbara (ASX:SBM) said it plans to separate its Atlantic gold operations from the Company, according to a Wednesday Australian bourse filing.
The Atlantic gold operations include the 15-Mile, Beaver Dam, and Cochrane Hill projects in Nova Scotia, Canada, the filing added.
After a portfolio review, the company concluded that this separation would maximize shareholder value by advancing Atlantic through development and permitting proposals under a Canadian firm with local leadership, per the filing.
The Atlantic gold operations have 1.4 million ounces in ore reserves and 2 million ounces in mineral resources, with significant potential due to the presence of production-ready infrastructure and exploration opportunities.
The company is exploring separation options including a sale, vend-in, or demerger and the company will focus on the Simberi Gold Operations in Papua New Guinea and the development of the Simberi sulfide expansion project.
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