Allens has advised St Barbara on the A$453 million sale of its remaining interest in the New Simberi Gold Project in Papua New Guinea to Lingbao Gold Group.
Under the transaction, St Barbara will receive A$410 million in cash on completion, A$43 million for its share of construction capital invested in New Simberi between April 2026 and signing, and royalty interests over future production from New Simberi and the Tabar Island Group exploration licences.
Lead Partner Alex Ninkov said: 'This transaction is an important milestone for St Barbara, realising significant value for shareholders and allowing the company to focus on the development of its Nova Scotia gold projects and exploration portfolio surrounding the 15-Mile Processing Hub. We were pleased to support St Barbara on this complex cross-border transaction.'
The transaction reflects continued activity across the gold sector, as market participants pursue strategic acquisitions and optimise their portfolios.
The matter brought together Allens' corporate, financing and Papua New Guinea expertise to support a cross-border resources transaction.
