What Do St Barbara (ASX:SBM), Kuniko (ASX:KNI) and Many Peaks Minerals (ASX:MPK) Reveal About Gold Growth?

Sonal Goyal

05 November 2026 11:40 AM AEDT

What Do St Barbara (ASX:SBM), Kuniko (ASX:KNI) and Many Peaks Minerals (ASX:MPK) Reveal About Gold Growth?

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Key Highlights

St Barbara (ASX:SBM) began ore processing at Touquoy and guided FY27 production to 17,000 to 21,000 ounces.
Kuniko (ASX:KNI) intersected mineralisation in all 11 diamond holes at Commonwealth to Silica Hill.
Many Peaks Minerals (ASX:MPK) increased its Ouarigue resource to 2,077,000 ounces of gold, a rise of 57% in six months.
The three companies are at different stages, from processing and production to resource growth and exploration.

Three ASX-listed gold companies released updates on 5 November 2026. The announcements cover a restart in Nova Scotia, drilling in Western Australia and a resource expansion in West Africa, each reflecting a different stage of gold development.

St Barbara (ASX:SBM)

St Barbara (ASX:SBM) reported that ore processing commenced at its Touquoy Restart Project on 3 November 2026. FY27 guidance for Touquoy is 17,000 to 21,000 ounces of gold, with All-in Sustaining Costs of A$2,070 to A$2,560 per ounce. Growth Capital of A$40 million to A$50 million is subject to the permitting timetable. The company expects first gold dore in January 2027.

Kuniko (ASX:KNI)

Kuniko (ASX:KNI) completed 11 diamond holes totalling 2,731 metres at its Commonwealth to Silica Hill system, with all holes intersecting mineralisation. Hole CMKNI004 returned 84 metres at 0.6 grams per tonne gold and 123 grams per tonne silver, including a 0.5 metre massive sulphide vein. The updated Mineral Resource Estimate is on track for calendar 2026.

Many Peaks Minerals (ASX:MPK)

Many Peaks Minerals (ASX:MPK) increased its Ouarigue resource to 34.6 million tonnes at 1.87 grams per tonne gold, containing 2,077,000 ounces. About 97% of the open pit constrained resource is Measured or Indicated. Leach tests recovered between 74% and 91.5% of gold across eight domains, with confirmatory testing pending.

Final Word

The three companies illustrate different stages of gold growth, from operating a restarted mine to expanding drilling footprints and building a larger resource. Their future production, drilling and resource announcements will show how each growth path progresses against the timetables set out.

What is St Barbara's FY27 Touquoy production guidance?

The company guides to 17,000 to 21,000 ounces of gold for FY27.

How many holes did Kuniko complete?

Kuniko completed 11 diamond holes totalling 2,731 metres.

How large is the Ouarigue resource?

The resource stands at 2,077,000 ounces of gold, from 34.6 million tonnes at 1.87 grams per tonne.

Are the Many Peaks recovery figures final?

Not yet. Confirmatory tests on improved reagent conditions are pending.

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