St Barbara (ASX:SBM) said it expects to complete its agreements with Lingbao Gold Group and Kumul Mineral Holdings in the the first days of April, according to a Monday filing with the Australian bourse.

In December 2025, the company agreed with Lingbao Gold Group for Lingbao to acquire an 80% stake in the Simberi gold project in Papua New Guinea. It also agreed with Kumul Mineral Holdings for Kumul to acquire 20% of the project.

At completion, St Barbara will receive AU$370 million in cash from Lingbao.

It expects a final investment decision on the New Simberi gold project on the same date the deals are completed. It received approvals from the People's Republic of China and Papua New Guinea authorities for the deal in March and the review of updated life-of-mine plan by Lingbao and Kumul is underway.

In a separate filing, the company said that the Simberi operations in Papua New Guinea is well stocked with diesel fuel after inquiries about Simberi's fuel stocks in relation to the global fuel supply chains following the shipping restrictions through the Strait of Hormuz.

The Simberi operations use around 65,000 liters per day of diesel for the mining fleet and power generation. The current diesel supply stored on Simberi island is around 4.7 million liters, with another 3.5 million liters in allocated storage in country at Lae and Port Moresby. These stocks are anticipated to be sufficient to cover over three months of fuel requirements for mining and power generation.

St Barbara's shares fell 6% in recent trading on Monday.