St Barbara (ASX:SBM) reported a year-on-year increase of 3% for its total mineral resources and an increase of 21% for its total ore reserves as of Dec. 31, 2024, according to a Wednesday Australian bourse filing.
The firm's total mineral resources were estimated at 168.5 million tonnes at 1.3 grams per tonne (g/t) grade of gold for 6.9 million ounces of contained gold.
Its total ore reserves were estimated at 83.5 million tonnes at a grade of 1.5 g/t of gold for 4 million ounces of contained gold.
A 40% increase in ore reserves at its Simberi operations in Papua New Guinea was the main driver of the lift over the year, Chief Executive Andrew Strelein said.
The firm's shares rose almost 6% in recent trading on Wednesday.
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