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2026-11-06
◂ Monitor SBM ASX

St Barbara Limited

Construction · Gold · PG · CA Rating locked: sign in to view v8.1 · sbm-20261102t225756-full
Last 2026-11-06
A$0.74
1D
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1M
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YTD
—
1Y
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Fair value
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Upside
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Mkt cap
A$907.3M
EV
A$575.3M
Cash
A$334M
Debt
A$0
3 newer ASX announcements not yet reflected in this valuation

People, delivery and responsibility

Management background checks

Evidence through 2026-10-09

Research assessment

Executive team

Rating locked: sign in to viewTeam rating and score are available to subscribers

Deepened, cutoff-limited public-source review. Findings distinguish issuer-reported results, documented individual responsibilities, company-level adverse matters and unresolved evidence gaps. Search coverage is recorded by person and topic; it is not an exhaustive clearance check.

Decision-relevant facts

Material summary

Individual involvement and employer context shown separately

Andrew Strelein

Managing Director and Chief Executive Officer

Current
Full background report for Andrew Strelein
Company SuccessIssuer Reported · High materiality

Simberi expansion and Touquoy restart advanced to FID during CEO tenure

FY26 reporting records a US$333m New Simberi expansion FID, early renewal of the mining lease to 2038, Lingbao investment proceeds of A$389m, and Touquoy restart permit approval and FID. Simberi oxide operations returned to profitability, with 48,395 oz produced and H2 production 39% above H1. These are reported company outcomes during Strelein’s CEO tenure; attribution of every milestone is not established.

Role overlaps event; causation unproven · Strelein has been CEO since July 2023 and held executive oversight during FY26. His issuer profile directly attributes his role in the earlier Bardoc acquisition and Leonora asset sale, but does not attribute these FY26 milestones individually.

FY26 Financial Results and Directors’ and Financial Report · Chairman’s review, operating review and FY26 remuneration report, pp. 4-18
Andrew Strelein profile · Career and transaction profile
Evidence gaps · 2
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

Full background report

Andrew Strelein

Managing Director and Chief Executive Officer

Career chronology

Contributions and company outcomes

Simberi expansion and Touquoy restart advanced to FID during CEO tenure

FY2026 · issuer reported · high materiality

FY26 reporting records a US$333m New Simberi expansion FID, early renewal of the mining lease to 2038, Lingbao investment proceeds of A$389m, and Touquoy restart permit approval and FID. Simberi oxide operations returned to profitability, with 48,395 oz produced and H2 production 39% above H1. These are reported company outcomes during Strelein’s CEO tenure; attribution of every milestone is not established.

Attribution: Role overlaps event; causation unproven. Strelein has been CEO since July 2023 and held executive oversight during FY26. His issuer profile directly attributes his role in the earlier Bardoc acquisition and Leonora asset sale, but does not attribute these FY26 milestones individually.

Relevance: Evidence of current project and operating delivery, balanced against later execution milestones and risks in both projects.

FY26 Financial Results and Directors’ and Financial Report (Chairman’s review, operating review and FY26 remuneration report, pp. 4-18); Andrew Strelein profile (Career and transaction profile)

Suitability for the current role

Role fit supported; individual record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

Dated primary company filings and appointment records now support the disclosed role and relevant parts of the person’s professional background. They do not establish a complete career chronology, independently verify every credential, or provide a broad personal performance or adverse-record conclusion.

Attribution: Responsibility not applicable. This is a scoped role-fit assessment, not an attribution of a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

FY26 Financial Results and Directors and Financial Report (Executive or management profile: Andrew Strelein; current role and available career detail)

Evidence gaps

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

Sara Prendergast

Chief Financial Officer

Current
Full background report for Sara Prendergast

No supported material findings selected. See this executive’s report and evidence gaps.

Evidence gaps · 2
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

Full background report

Sara Prendergast

Chief Financial Officer

Career chronology

Suitability for the current role

Role fit supported; individual record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

Dated primary company filings and appointment records now support the disclosed role and relevant parts of the person’s professional background. They do not establish a complete career chronology, independently verify every credential, or provide a broad personal performance or adverse-record conclusion.

Attribution: Responsibility not applicable. This is a scoped role-fit assessment, not an attribution of a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

FY26 Financial Results and Directors and Financial Report (Executive or management profile: Sara Prendergast; current role and available career detail)

Finance leadership during St Barbara’s recapitalisation and project funding

FY2026 · analyst inference · medium materiality

St Barbara’s FY26 report identifies Prendergast as CFO during FY26 and records a major financial transition: a A$58m placement, strategic investment proceeds, Simberi project funding and reported return to profitability at Simberi oxide operations. The reviewed material establishes time overlap with financial leadership, but does not identify her individual role in negotiating the investment or raising capital.

Attribution: Responsibility not applicable. CFO oversight during company-level financial results; no direct personal connection to specific capital transactions was found in the reviewed source.

Relevance: Relevant to current finance role; precise execution, forecast accuracy and controls evidence remains limited.

FY26 Financial Results and Directors’ and Financial Report (Directors’ and Financial Report: FY26 results and KMP remuneration, pp. 3-18)

Evidence gaps

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

Kylie Panckhurst

General Counsel and Company Secretary

Current
Full background report for Kylie Panckhurst
LegalDocumented · Medium materiality

St Barbara litigation over Kirkalocka royalty rights; interlocutory leave granted

A Supreme Court of Western Australia decision dated 23 October 2025 records St Barbara’s application concerning a royalty claim against Kirkalocka Gold SPV, which was in a deed of company arrangement and receivership. The Court granted St Barbara leave to bring and continue the proceeding and approved an interim variation of the DOCA; the declaration over the asserted royalty right was left for a later hearing. Panckhurst’s affidavit supported the company application as in-house counsel, but this was corporate litigation and the judgment makes no adverse finding about her conduct. Latest reviewed FY26 St Barbara reporting does not state the final outcome of the royalty declaration.

Employer context; no individual link established · As General Counsel, Panckhurst participated in the company’s legal process; no personal wrongdoing is alleged or found.

St Barbara Limited v Kirkalocka Gold SPV Pty Ltd [2025] WASC 453 · Introduction and orders, [2025] WASC 453, paragraphs 1-13 and order schedules
FY26 Financial Results and Directors’ and Financial Report · Legal / contingencies and KMP sections; no final royalty-declaration outcome identified
Evidence gaps · 4
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.
  • The final outcome of St Barbara’s claimed Kirkalocka royalty right after the October 2025 interlocutory decision was not established in the opened FY26 report or later public source reviewed.
  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.
  • The final outcome of St Barbara’s claimed Kirkalocka royalty right after the October 2025 interlocutory decision was not established in the opened FY26 report or later public source reviewed.

Full background report

Kylie Panckhurst

General Counsel and Company Secretary

Career chronology

Litigation and enforcement

St Barbara litigation over Kirkalocka royalty rights; interlocutory leave granted

2025 onward; status at cutoff not established in FY26 report · documented · medium materiality

A Supreme Court of Western Australia decision dated 23 October 2025 records St Barbara’s application concerning a royalty claim against Kirkalocka Gold SPV, which was in a deed of company arrangement and receivership. The Court granted St Barbara leave to bring and continue the proceeding and approved an interim variation of the DOCA; the declaration over the asserted royalty right was left for a later hearing. Panckhurst’s affidavit supported the company application as in-house counsel, but this was corporate litigation and the judgment makes no adverse finding about her conduct. Latest reviewed FY26 St Barbara reporting does not state the final outcome of the royalty declaration.

Attribution: Employer context; no individual link established. As General Counsel, Panckhurst participated in the company’s legal process; no personal wrongdoing is alleged or found.

Relevance: A material legal matter is relevant to GC oversight; procedural relief was obtained, while final determination and economic outcome are not established by the reviewed FY26 report.

St Barbara Limited v Kirkalocka Gold SPV Pty Ltd [2025] WASC 453 (Introduction and orders, [2025] WASC 453, paragraphs 1-13 and order schedules); FY26 Financial Results and Directors’ and Financial Report (Legal / contingencies and KMP sections; no final royalty-declaration outcome identified)

Suitability for the current role

Role fit supported; individual record remains incomplete

Evidence cutoff 2026-10-09 · analyst inference · low materiality

Dated primary company filings and appointment records now support the disclosed role and relevant parts of the person’s professional background. They do not establish a complete career chronology, independently verify every credential, or provide a broad personal performance or adverse-record conclusion.

Attribution: Responsibility not applicable. This is a scoped role-fit assessment, not an attribution of a company outcome.

Relevance: Role alignment matters to execution in the current position, but the reviewed evidence does not establish full delivery or control outcomes.

FY26 Financial Results and Directors and Financial Report (Executive or management profile: Kylie Panckhurst; current role and available career detail)

Evidence gaps

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

  • The final outcome of St Barbara’s claimed Kirkalocka royalty right after the October 2025 interlocutory decision was not established in the opened FY26 report or later public source reviewed.

  • Full dated chronology across previous employers, independent confirmation of education/professional memberships, and targeted regulator/court register searches were not completed; logged open-web searches are not exhaustive clearance checks.

  • The final outcome of St Barbara’s claimed Kirkalocka royalty right after the October 2025 interlocutory decision was not established in the opened FY26 report or later public source reviewed.