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Papua New Guinea
Simberi Sulphide Project (Simberi Operation)

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 Location:
132 km E from Kavieng, Papua New Guinea

  Project Contacts:
Simberi Island, New Ireland Province PO Box 624
Kavieng
Papua New Guinea
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life11 years (as of Jan 1, 2021)
The Sulphide Expansion Project is expected to extend Simberi’s life by more than ten years.

The environmental permit for the Simberi Sulphide project was received by the Conservation & Environmental Protection Authority of Papua New Guinea on 1 August 2022.

The strategy focus areas for Simberi comprise:
• Extension drilling of the Sulphides Mineral Resource and Ore Reserve
• Revisiting Sulphides Expansion development plan by FY26
• Prepare for investment decision with Mining Lease renewal by FY28.


Owners

Source: p. 85
CompanyInterestOwnership
St Barbara Ltd. 100 % Indirect
Simberi Gold Co, Ltd. (operator) 100 % Direct
The Simberi Gold Project is 100% owned by the Simberi Gold Company Limited, a wholly owned subsidiary of St Barbara Limited.

Contractors

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Deposit Type

  • Volcanic hosted


Summary:

The Simberi Gold Project is located on Simberi Island in the Tabar Islands Group situated in the New Ireland Province of Papua New Guinea (PNG), approximately 80 km north-west of Lihir Island. Simberi is the oldest and northernmost island of the Tabar Group. It measures approximately 10 km east-west, 8 km north-south and rises to over 300 m above sea level. The currently known gold prospects (Sorowar, Pigiput, Pigibo, Botlu, Pigicow, Samat, Bekou and Monun Creek) on Simberi Island are located in the eastern half of the island within the central volcanic core. They are contained within a sub-cropping epithermal alteration system and structural corridor extending 4km north-south and 2km east-west. The host rocks for the mineralisation comprise Pliocene altered alkaline lava flows or intrusives (porphyries), volcaniclastics and tuffs.

Of the eight separate deposits, Pigiput in the south is by far the largest gold resource. Monun Creek is located immediately to the north-east of Pigiput, with Sorowar, the second largest resource, further north again. Pigibo, Botlu, Samat and Bekou lie to the west and south of Pigiput, and while relatively small, are relatively higher grade. All deposits lie within 2 to 3km of each other. Sorowar, Pigiput and Botlu are currently being mined via open pit methods.

Fine grained free gold in oxide material is the target of current operations. Within the sulphide zone gold is also fine grained (most grains are under 15 µm in diam ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining method for all deposits is open pit, using 5 m flitches and 20 m benches.

The oxide operation is expected to maintain the current production level during the expansion of the mining fleet and construction of the sulphide plant.


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityProductUnitsAvg. AnnualLOM
Gold Concentrate kt 1,500
Gold Metal in concentrate koz 160

Operational Metrics:

Metrics
Annual processing capacity  ......  Subscription required
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
* According to 2021 study.
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Reserves at December 31, 2022:
Mineral Resources cut-off grade - 0.6 g/t Au.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven Sulphide 2,161 kt Gold 1.8 g/t 122 koz
Probable Sulphide 24,396 kt Gold 2 g/t 1,558 koz
Proven & Probable Sulphide 26,557 kt Gold 2 g/t 1,680 koz
Measured Sulphide 2,704 kt Gold 1.5 g/t 133 koz
Indicated Sulphide 46,116 kt Gold 1.6 g/t 2,417 koz
Inferred Sulphide 18,705 kt Gold 1.5 g/t 884 koz
Total Resource Sulphide 67,524 kt Gold 1.6 g/t 3,434 koz

Commodity Production Costs:

CommodityUnitsAverage
All-in sustaining costs (AISC) Gold USD  ......  Subscription required
Assumed price Gold USD  ......  Subscription required
* According to 2021 study / presentation.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2023
....................... Subscription required ....................... Subscription required Subscription required Oct 27, 2023
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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