Australian gold producers have had a strong start this morning despite another slide on Wall Street. St Barbara Ltd [ASX:SBM] is up 7.91% this morning to $4.025 on the back on of gold’s strongest gain in two years.
As of late, the company’s focus has been to invest and improve in the exploration, extraction and development of the precious metal gold. Unfortunately, this left St Barbara tackling a difficult last quarter of FY18, with around $1.22 million of the $2.32 million insider shares being divested since March of this year.
St Barbara Ltd [ASX:SBM] share price picked up another 2.35% in today’s trading. Year-to-date, SBM shares have picked up more than 50% in gains, vastly outperforming some of the other stocks in the Aussie stock universe.