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St Barbara nets A$25m from sale of Catalyst shareholding

19th August 2024

By: Creamer Media Reporter

     

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ASX-listed St Barbara has sold its entire shareholding in fellow-listed Catalyst Metals, netting cash proceeds of A$25.2-million.

The proceeds will be used to strengthen its balance sheet liquidity as it progresses toward the development of its ten-year-plus mine plan for the Simberi mine, in Papua New Guinea.

“The strong demand for the company’s stake, at no discount to market price, has been a determinative factor in selling, at a time when the market was giving minimal recognition to the company’s investment portfolio value,” said St Barbara.

The company sold its Catalyst shares at A$2 each.

Edited by Creamer Media Reporter

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