ASX-listed St Barbara said on Thursday it expected to receive third-party, non-binding indicative proposals for its Atlantic operations in Nova Scotia this month, as part of the planned separation process announced earlier this year.

The Australian gold miner is weighing a potential divestment of its Canadian assets, including the Touquoy mine and the development-ready 15-Mile, Beaver Dam, and Cochrane Hill projects. St Barbara will assess the bids during the first quarter of its 2026 financial year, alongside other separation options, it said in a statement.

“We continue to see significant value in Atlantic’s existing resource base, production-ready infrastructure and extensive exploration positioning Nova Scotia,” the company said.

St Barbara has reorganised the Atlantic assets into two subsidiaries - one focused on future gold development and another on mine reclamation and renewables, including an 80-MW pumped hydro energy storage facility and solar power opportunities at the Touquoy site.

As part of the reorganisation, St Barbara will book a non-cash impairment charge of C$33.7-million (A$37.8-million) in its 2025 financial year results, reflecting updated valuations of exploration tenements and freehold land in Nova Scotia.

The company cited recent transaction precedents and land appraisals in the region as the basis for the write-down, which affects transferred tenements and land now held under the new development-focused subsidiary.

A prefeasibility study for the 15-Mile Processing Hub, a cornerstone of St Barbara’s gold strategy in Nova Scotia, is advancing toward its targeted completion in the March quarter of 2026. 

Ausenco Engineering Canada is leading the study, while Moose Mountain Technical Services is handling mine design. Metallurgical testing on Cochrane Hill ore is underway, along with updated flowsheets and baseline environmental work.

The study builds on a May concept assessment, which found the hub viable for regional gold production.