The St Barbara Ltd (ASX: SBM) share price could be one to watch on Thursday after the gold miner released a big update before market open.
St Barbara shares finished flat at 73 cents apiece yesterday, but investors could have plenty to think about when trading gets underway this morning.
So, what has St Barbara announced?
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St Barbara cashes in
According to the release, St Barbara has agreed to sell its remaining interest in the New Simberi Gold Project in Papua New Guinea to China’s Lingbao Gold Group.
Under the deal, the company will receive $410 million in cash when the transaction completes.
It will also receive another $43 million to repay its share of construction…
