36 slides from St. Barbara's earnings presentation, Jan 18, 2017
Slide 1: Presentation on Q2 December 2016 Quarterly Report and audio webcast
ASX Release / 18 January 2017 For personal use only Presentation on Q2 December 2016 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q2 December 2016 Quarterly Report at 11:00 am Australian Eastern Daylight Time (UTC + 11
Slide 2: Q2 December 2016 Quarterly Presentation
BOB VASSIE, MANAGING DIRECTOR & CEO / 18 January 2017 For personal use only Q2 December 2016 Quarterly Presentation
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: Contents
Contents For personal use only > Highlights > Safety > Operations > Gwalia Extension Project > Exploration > Conclusion St Barbara Emergency Response Team, Leonora Operations: Overall winners for the second year running in CMEWA Underground > Appendices Mine Emergency Response Competition, November
Slide 5: Highlights Q2 December 2016
Highlights Q2 December 2016 > Gold production for quarter increased to 99 koz, For personal use only at lower AISC1 of A$876/oz > Gwalia, WA > Gwalia Extension Project Feasibility Study approved, early works commenced > Inclusion of Paste Aggregate Fill (PAF) underground crushing and paste mixing >
Slide 6: Start safe, stay safe
Start safe, stay safe For personal use only Total Recordable Injury Frequency Rate2 Safety performance 9.0 > Record low TRIFR1 of 1.8 continued to 31 December 2016 > Gwalia Emergency Response 6.0 Team overall winners for the 5.0 second year running in CMEWA 4.1 Underground Mine Emergency Response Co
Slide 7: Balance sheet positioned for growth
For personal use only Balance sheet positioned for growth A$M Net Debt / Net Cash1 ˃ A$121 million debt $31 million 50 A$M Net Cash repayments during quarter 0 -15 > US$40 million Notes -50 remaining at 31 December -92 -100 > US Notes to be further -134 6/ reduced by US$20 million on -150 20 January
Slide 8: St Barbara vs Comparators FCF Yield & EV/Reserves
St Barbara vs Comparators FCF Yield & EV/Reserves EV/Reserve oz (A$/oz) For personal use only A$0 Resolute A$200 St Barbara Oceana Gold A$400 Evolution A$600 Saracen Regis A$800 Bubble size = estimated A$1,000 production rate Northern Star (koz p.a.) A$1,200 0% 5% 10% 15% 20% 25% 30% FCF Yield (FCF/
Slide 9: Consolidated Q2 December 2016 quarter
Consolidated Q2 December 2016 quarter AISC For personal use only (A$/oz) 992 947 960 935 Q2 December 2016 quarter 876 FY16 average A$933/oz > Consolidated company production of 99 koz Production (koz) (Q1 FY17: 93 koz) 99 > Gwalia 71 koz (Q1:67 koz) 92 92 92 93 > Simberi 28 koz (Q1: 25 koz) 28 28 25
Slide 10: Gwalia Q2 December 2016 quarter
Gwalia Q2 December 2016 quarter AISC (A$/oz) 846 836 For personal use only 770 774 716 FY16 average A$783/oz Q2 December 2016 quarter Mined Grade 11.9 (g/t Au) > Production of 70,925 oz 10.2 10.4 9.3 (Q1: 67,118 oz) FY16 average 9.3 g/t Au > AISC1 of A$716/oz (Q1: A$774/oz) 7.9 Reserve grade 8.3 g/t
Slide 11: Gwalia Extension Project
Gwalia Extension Project Ventilation upgrade feasibility study announced in August 2016 completed and approved. For personal use only > Allows mining to 2,000 metres below surface (mbs) > Option to extend vent infrastructure in the future to mine to 2,200 mbs1 ˃ Paste Aggregate Fill (PAF) feasibil
Slide 12: Gwalia Extension Project – Ventilation Upgrade
Gwalia Extension Project – Ventilation Upgrade For personal use only 11 / Q2 December 2016 Quarterly Presentation Conceptual illustration only, studies underway will determine final design
Slide 13: Gwalia Extension Project – PAF Isometric Fixed Plant View
Gwalia Extension Project – PAF Isometric Fixed Plant View For personal use only 12 / Q2 December 2016 Quarterly Presentation Conceptual illustration only, studies underway will determine final design
Slide 14: Simberi Q2 December 2016 quarter
Simberi Q2 December 2016 quarter For personal use only AISC (A$/oz) 1,404 1,359 1,319 1,266 1,277 Q2 December 2016 quarter FY16 average AISC A$1,293/oz > Production of 28,057 oz Production (koz) (Q1: 25,429 oz) 28.4 28.1 > 100,000 oz p.a. target run rate 26.9 25.4 25.4 maintained since June 2015 qua
Slide 15: Exploration results Q2 December 2016 quarter
Exploration results Q2 December 2016 quarter For personal use only Gwalia exploration 14 / Q2 December 2016 Quarterly Presentation
Slide 16: Exploration: Gwalia Summary
Exploration: Gwalia Summary Gwalia Deeps Extension For personal use only Successful completion of daughter holes GWDD18B and GWDD18C Intersected 88m and 81m of Mine Sequence respectively interpreted to represent extensions of South West Branch Further drilling of ten additional daughter holes
Slide 17: Exploration: Gwalia Deep Drilling Program
Exploration: Gwalia Deep Drilling Program For personal use only For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’ 16 / Q2 December 2016 Quarterly Presentation
Slide 18: Exploration: Gwalia Deep Drilling Program
Exploration: Gwalia Deep Drilling Program For personal use only For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’ 17 / Q2 December 2016 Quarterly Presentation
Slide 19: Exploration: Summary of greenfields projects
Exploration: Summary of greenfields projects Pinjin, WA For personal use only > 3,329 metre RC drill program completed > In Q3 March 2017 a 17,000 metre aircore drill program commencing to follow up encouraging early stage results Back Creek, NSW > 3,776 line kilometre airborne geophysical survey wa
Slide 20: Exploration: Pinjin, WA
Exploration: Pinjin, WA For personal use only For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’. 19 / Q2 December 2016 Quarterly Presentation
Slide 21: Exploration: Pinjin, WA
Exploration: Pinjin, WA For personal use only For full explanation and results refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’ 20 / Q2 December 2016 Quarterly Presentation
Slide 22: Exploration: Back Creek, NSW
Exploration: Back Creek, NSW For personal use only Back Creek, NSW An airborne geophysical survey completed during the December 2016 quarter Data processing and image generation will be completed early in the March 2017 quarter A 3 sub-block application ELA5392 was submitted for vacant ground
Slide 23: Exploration: Tatau Island, PNG
Exploration: Tatau Island, PNG Tatau Island, PNG For personal use only Mt Letam Copper Gold porphyry target 530m diamond drill hole - results received with only intersection1 6m @ 1.4 g/t Au from 1m LIDAR survey complete Southwest Tatau trenching continuing to generate encouraging high grade r
Slide 24: Conclusion
Conclusion ˃ 99 koz gold produced at AISC1 A$876 /oz For personal use only ˃ Gwalia Extension Project studies approved, now includes PAF underground crushing and paste mixing ˃ Strong cash contribution leads to net cash1 position ˃ A$121M debt repayments in quarter, further US$20M reduction due 20 J
Slide 25: Appendices
Appendices For personal use only 24 / Q2 December 2016 Quarterly Presentation
Slide 26: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Q4 Jun Year Q1 Sep Q2 Dec Guidance Consolidated FY16 FY16 FY17 FY17 FY173 For personal use only Production Gwalia oz 65,098 267,166 67,118 70,925 255 to 265 koz (previously 245 to 265 koz1) King of the Hills4 oz - 9,112 - - - Simber
Slide 27: Inorganic Growth
Inorganic Growth For personal use only Eyes open for opportunities Will Consider • Consider sensible inorganic • Exploration, project, development growth where it increases and operating assets shareholder value • Range of sizes • Robust and systematic evaluation • ‘Investible’ assets inside and pro
Slide 28: PAF Isometric View
PAF Isometric View For personal use only 1 2 1 Bogging Location 1 2 Bogging Location 2 Current Paste Infrastructure Proposed PAF Fixed Plant Waste Capacity 27 / Q2 December 2016 Quarterly Presentation Conceptual illustration only, studies underway will determine final design
Slide 29: Gwalia Deeps Exploration – Northern Extension
Gwalia Deeps Exploration – Northern Extension For personal use only Reproduced from ASX release 19 Oct 2016 ‘Quarterly Report September 2016’ 28 / Q2 December 2016 Quarterly Presentation
Slide 30: Exploration: Tatau Island, PNG
Exploration: Tatau Island, PNG For personal use only Refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’ for further details 29 / Q2 December 2016 Quarterly Presentation
Slide 31: Exploration: Tatau Island, PNG
Exploration: Tatau Island, PNG For personal use only Refer to ASX release 18 Jan 2017 ‘Quarterly Report December 2016’ for further details 30 / Q2 December 2016 Quarterly Presentation
Slide 32: Ore Reserves Summary as at June 2016
Ore Reserves Summary as at 30 June 2016 For personal use only Proved Probable Total Project Tonnes Au koz Tonnes Au koz Tonnes Au koz (k) g/t (k) g/t (k) g/t Gwalia (WA) 2,286 9.6 702 4,510 7.6 1,105 6,795 8.3 1,808 Tower Hill (WA) - - - 2,572 3.7 306 2,572 3.7 306 Simberi Oxide (PNG) 4,687 1.3 194
Slide 33: Mineral Resources Summary as at June 2016
Mineral Resources Summary as at 30 June 2016 For personal use only Measured Indicated Inferred Total Project Tonnes Au koz Tonnes Au koz Tonnes Au koz Tonnes (k) Au koz (k) g/t (k) g/t (k) g/t g/t Gwalia (WA) 4,951 7.7 1,232 11,773 6.8 2,584 570 4.4 80 17,294 7.0 3,896 Tower Hill (WA) - - - 4,604 3.
Slide 34: Competent Persons Statement
Competent Persons Statement For personal use only Exploration Results The information in this presentation that relates to Exploration Results for Simberi and Pinjin is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Musta
Slide 35: Non-IFRS Measures
Non-IFRS Measures For personal use only We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to ass
Slide 36: Investor Relations Enquiries
Investor Relations Enquiries For personal use only Rowan Cole Garth Campbell-Cowan Company Secretary Chief Financial Officer T: +61 3 8660 1900 E: info@stbarbara.com.au 35 / Q2 December 2016 Quarterly Presentation