0024 GMT - Macquarie now believes St Barbara will issue fewer shares when raising capital for its Simberi Sulphides project in Papua New Guinea. The bank had assumed that St Barbara would raise A$100 million of equity by issuing shares at A$0.18 each. Its new forecast is to raise that sum through an equity issue at A$0.38/share. That contributes to Macquarie's price target on St Barbara rising 48% to A$0.49/share. Still, the bank downgrades St Barbara to neutral from outperform. St Barbara is down 3.2% at A$0.45. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 23, 2024 20:24 ET (00:24 GMT)
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