30 slides from St. Barbara's earnings presentation, Apr 19, 2012
Slide 1: Presentation on the March 2012 Quarter
St Barbara Limited ACN 009 165 066 Level 10, 432 St Kilda Road, Melbourne VIC 3004 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au For personal use only Presentation on the March 2012 Quarter Attached is a presentation to analysts an
Slide 2: March 2012 Quarterly Report Highlights
For personal use only March 2012 Quarterly Report Highlights Tim Lehany, Managing Director & CEO 19 April 2012 1
Slide 3: Disclaimer
Disclaimer For personal use only This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, s
Slide 4: Highlights
Highlights For personal use only • Sustained higher gold production: • Annualised rate over 330,000 ounces • Record 85,840 ounces for Q3 • Successful drilling results leading to: • extension of Gwalia ore body at depth confirmed • mineral resource estimation at Frasers, Southern Cross • mining feasi
Slide 5: Sustained higher gold production
Sustained higher gold production Up 2,225 oz to a record 85,840 oz For personal use only Gold Production 84 86 73 71 • Modest increase in Q3 61 building on record Q2 • Expecting record production in Q4 • On track to deliver FY12 guidance FY 11 FY 11 FY 12 FY 12 FY 12 Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 M
Slide 6: Gwalia
Gwalia For personal use only Gold Production • Mine performance in line with 46 expectations 44 39 40 • Annualised haulage rates 34 exceed forecast 700 ktpa • Processing recovery consistently at 97% • Q3 mining activity included developing the 1380 level, resulting in lower tonnes mined • Anticipate
Slide 7: Gwalia grade and costs
Gwalia grade and costs For personal use only Grade Mined Grade • Q3 mined grade 9.3 g/t Au • Majority of ore now sourced from 9.3 the richer South West Branch • Q4 and FY12 mined grade 7.9 8.1 expected to be within 8.0 - 8.5 7.5 g/t Au guidance range 6.9 Costs • Q3 cash operating costs $627/oz, prim
Slide 8: King of the Hills
King of the Hills For personal use only Gold Production 17 • Production in line with 14 expectations • Expected to deliver production and cost guidance 9 for FY12 7 • Q3 cash operating costs $693/oz (Q2: $754/oz) 0 FY 11 FY 11 FY 12 FY 12 FY 12 Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar koz 7 March 2012 Qua
Slide 9: Southern Cross Operations
Southern Cross Operations For personal use only Gold Production 27 27 • Production in line with 25 expectations 24 21 • Underground mining expected to continue until at least October 2012 • Processing expected to continue until at least December 2012 FY 11 FY 11 FY 12 FY 12 FY12 Q3 Mar Q4 Jun Q1 Sep
Slide 10: Discovery & Growth
Discovery & Growth For personal use only • Exploration focus on discoveries: – in proximity to processing plants – prospective greenfield areas • 5,000+ km2 of prospective land around Australia • 10 targets planned to be drilled in FY12 (subject to results) 9 March 2012 Quarterly Report Highlights
Slide 11: Discovery & Growth: Gwalia
Discovery & Growth For personal use only Gwalia • High grade intersections confirm resource extensions to the south and north (albeit thinning to the north), within the current planned mining interval (down to 1,840 mbs1), including in South West Branch2: • 12.6m @ 19.4 g/t Au from 1,650m (including
Slide 12: Gwalia Deeps (Leonora): Drilling for resource extensions
Gwalia Deeps (Leonora) Drilling for resource extensions For personal use only Figure 1 11 March 2012 Quarterly Report Highlights
Slide 13: Gwalia Deeps (Leonora): Drilling program and results
Gwalia Deeps (Leonora) Drilling program and results For personal use only Figure 2 12 March 2012 Quarterly Report Highlights
Slide 14: Discovery & Growth
Discovery & Growth For personal use only • Progress with several projects at Southern Cross: • Nevoria – drilling and resource estimate completed, has progressed to a mining feasibility study • Frasers – initial resource estimate underway • Copperhead – continuing to intersect Western Series Lode an
Slide 15: Frasers (Southern Cross)
Frasers (Southern Cross) Cross section showing results from drilling For personal use only Figure 3 14 March 2012 Quarterly Report Highlights
Slide 16: Exploration at East Lachlan, NSW
Exploration at East Lachlan, NSW Targeting copper-gold porphyry deposits For personal use only • Large and prospective land position • Encouraging results from first drilling program • Follow-up detailed gravity surveys of two areas and targeting completed • Further drilling scheduled for Q4 March 2
Slide 17: Leonora regional exploration map
Leonora regional exploration map For personal use only • Near mine and regional exploration for Gwalia style deposits • 10 to 12 further deep holes scheduled for Q4 Figure 5 16 March 2012 Quarterly Report Highlights
Slide 18: Southern Cross regional exploration map
Southern Cross Regional exploration map For personal use only • Drill testing continuing with the objective to create optionality Figure 6 17 March 2012 Quarterly Report Highlights
Slide 19: Strong growth in cash continues
Strong growth in cash continues For personal use only • Net cash up $27 million to $134 million at 31 March 2012 • Cash balance up to $137 million • Interest bearing liabilities stable at $3 million • Gold receivables of $9 million (in addition to cash) • Net cash backing per share up 24% to $0.41 p
Slide 20: Conclusion
Conclusion For personal use only • Sustained higher gold production • Gwalia cash operating costs down to $627 per ounce • Increased Gwalia production anticipated in Q4 • Set to deliver consolidated FY12 guidance • Gwalia FY12 cash operating cost expected to be $650-$660/oz • Strong cash generation,
Slide 21: Appendices
Appendices For personal use only 20 March 2012 Quarterly Report Highlights
Slide 22: Production summary
Production summary For personal use only Production Summary Sep Qtr Dec Qtr Mar Qtr Consolidated FY12 FY12 FY12 Gold Production Gwalia oz 40,306 46,007 43,881 King of the Hills oz 9,343 14,107 17,110 Southern Cross oz 20,959 23,501 24,849 Consolidated oz 70,608 83,615 85,840 Mined Grade Gwalia g/t A
Slide 23: Gwalia
Gwalia For personal use only Production Summary Sep Qtr Dec Qtr Mar Qtr Gwalia FY12 FY12 FY12 Underground ore mined t 173,498 181,204 145,609 Grade g/t Au 7.5 8.1 9.3 Ore milled t 174,056 192,592 168,049 Grade g/t Au 7.4 7.7 8.4 Recovery % 97 97 97 Gold production oz 40,306 46,007 43,881 Cash Operat
Slide 24: King of the Hills
King of the Hills For personal use only Production Summary Sep Qtr Dec Qtr Mar Qtr King of the Hills FY12 FY12 FY12 Underground ore mined t 77,034 107,840 136,016 Grade g/t Au 3.7 4.3 4.2 Ore milled t 82,179 105,541 131,739 Grade g/t Au 3.8 4.4 4.3 Recovery % 94 94 94 Gold production oz 9,343 14,107
Slide 25: Marvel Loch
Marvel Loch For personal use only Production Summary Sep Qtr Dec Qtr Mar Qtr Marvel Loch FY12 FY12 FY12 Underground ore mined t 251,628 163,814 240,957 Grade g/t Au 2.7 3.1 2.6 Ore milled t 295,076 518,560 527,790 Grade g/t Au 2.5 1.6 1.6 Recovery % 89 88 90 Gold production oz 20,959 23,501 24,849 C
Slide 26: Profit by mine for 1H FY12
Profit by mine for 1H FY12* For personal use only Southern Cross Gwalia KotH 53 Gwalia % 47 77% 37 56% 27 28 62% 17 14 12 34% 4 FY 09 FY 10 FY 11 1H 1H A$M FY FY 12 12 * Reportable segment profit before income tax 25 March 2012 Quarterly Report Highlights
Slide 27: FY12 guidance
FY12 guidance As at April 2012 For personal use only King of Marvel Gwalia Total the Hills Loch Leonora Leonora S’thn Cross Gold koz 175-190 55-60 90-100 320-350 production Cash operating 1,170 $/oz 650-660 710-750 790-830 cost -1,220 Capex $M 55-60* 20-25 10-15 85-100 * Includes $12.6M of one off c
Slide 28: Start safe, stay safe
Start safe, stay safe For personal use only Safety • Safety performance largely 14.8 unchanged from end of FY11 12.5 12.7 • Severity of injuries is reducing 11.1 FY 09 FY 10 FY 11 Q3 FY 12 TRIFR (rolling 12 month average Total Recordable Injury Frequency Rate) 27 March 2012 Quarterly Report Highligh
Slide 29: Investor Relations Enquiries
Investor Relations Enquiries For personal use only Ross Kennedy Executive General Manager Corporate Services E: ross.kennedy@stbarbara.com.au Rowan Cole General Manager Corporate Services E: rowan.cole@stbarbara.com.au T: +61 3 8660 1900 28 March 2012 Quarterly Report Highlights
Slide 30: Competent persons statement
Competent persons statement For personal use only References to Mineral Resources and exploration results presented in this document have been produced in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, December 2004 (JORC Code) under t