St. Barbara Ltd. · ASX:SBM
St. Barbara — Q1 FY2023 Earnings Presentation
23 slides from St. Barbara's earnings presentation, Oct 18, 2022
Slide 1: Presentation on Q1 September FY23 Quarterly Report and audio webcast
18 October 2022 Presentation on Q1 September FY23 Quarterly Report and audio webcast Mr Craig Jetson, Managing Director & CEO, will brief analysts and investors on the Q1 September FY23 Quarterly Report at 11.00 am Australian Eastern Daylight Time (UTC + 11 hours) on Tuesday 18 October 2022. Analyst
Slide 2: Q1 September FY23 Quarterly Presentation
Q1 September FY23 Quarterly Presentation Craig Jetson Managing Director and CEO 18 October 2022
Slide 3: Disclaimer
2 Disclaimer 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, securities in the Com
Slide 4: Acknowledgement of Country
3 Acknowledgement of Country We at St Barbara acknowledge the First Nations people of the ancestral lands on which we operate in Australia, Canada and Papua New Guinea. We pay our respects to all First Nations people, and to Elders past, present, and emerging. We recognise the unique cultural herita
Slide 5: Safety always
4 Safety always TOTAL RECORDABLE INJURY FREQUENCY RATE (TRIFR)1 5.0 4.6 3.9 3.4 3.0 2.1 FY18 FY19 FY20 FY21 FY22 Q1 FY23 1. Total Recordable Injury Frequency Rate (12 month avg.), total recordable injuries per million hours worked Atlantic Operations Emergency Response Team confined space training
Slide 6: Q1 FY23 Highlights
5 Q1 FY23 Highlights AISC (A$/oz) • Gold production of 64koz at AISC1 of $2,490 per 2,490 ounce 2,290 2,007 1,711 1,649 1,623 1,587 1,517 1,492 • Inaugural Tower Hill Open Pit Ore Reserve increases Ore Reserves in Leonora Province to 3.1Moz • Simberi Strategic Review: Oxide mining potential to exten
Slide 7: FY23 Guidance
6 FY23 Guidance Operation Production AISC Capex (koz) (A$/oz) ($AM) Sustaining Growth Atlantic Operations 40 – 50 2,075 – 2,3151 5 – 10 20 – 25 Leonora Operations 145 – 160 2,250 – 2,450 60 – 70 30 – 40 Simberi Operations 70 – 80 2,300 – 2,5402 5 – 10 3–5 Consolidated 260 – 290 2,250 – 2,500 70 – 90
Slide 8: Leonora Q1 FY23 results
7 Leonora Q1 FY23 results AISC Lower than expected production at Leonora (A$/oz) 2,487 • Sustained shortage of skilled maintenance staff 1,916 1,854 impacted equipment utilisation 1,488 1,653 • Mined and milled grade broadly in line with expectations MINED GRADE • Lower production negatively impacte
Slide 9: Inaugural Tower Hill Open Pit Ore Reserve adds 560koz
8 Inaugural Tower Hill Open Pit Ore Reserve adds 560koz • Tower Hill Open Pit Ore Reserve • 9.7mt @ 1.8g/t Au • Tower Hill is ~2km from the Leonora Processing Plant
Slide 10: Simberi Q1 FY23 results
9 Simberi Q1 FY23 results AISC Operational performance in line with prior quarter (A$/oz) 4,064 • Consistent production returning to Simberi 2,416 2,754 • Additional oxide ore increased recoveries which offset anticipated grade decline MINED GRADE (g/t AU) Reserve grade 1.8 g/t Au 31 Dec 2021 1.4 1.
Slide 11: Atlantic Q1 FY23 results
10 Atlantic Q1 FY23 results AISC Atlantic remains on target despite Post-Tropical (A$/oz) 2,013 2,027 2,085 Storm Fiona 1,504 1,396 • Lower production driven by mining sequence • Post-Tropical Storm Fiona impacted production to a MINED GRADE lesser extent (g/t AU) Reserve grade 1.0 g/t Au • Seven da
Slide 12: Leonora is central to regional consolidation
Leonora is central to regional consolidation
Slide 13: Gwalia is the key to regional consolidation
12 Gwalia is the key to regional consolidation Gold Mineral Resources retrieved from the latest company filings (on 7 September 2022). Considers operating mills only St Barbara has 10.5Moz of gold Mineral Resources and 87 years of Resource Life in the Leonora region
Slide 14: St Barbara - only mid tier with high grade Ore Reserves
13 St Barbara - only mid tier with high grade Ore Reserves Ore Reserve grade Milling capacity in province (Mtpa) Ore Reserve in province (Mt) in province (g/t Au) Reserve Life (years) Gold Fields 4.8 (Agnew & Granny Smith) 18 5.7 4 St Barbara 1.4 (Leonora Process Plant) 26 3.7 19 Ora Banda Mining 1.
Slide 15: Leonora mill too small to process extensive Mineral Resource base
14 Leonora mill too small to process extensive Mineral Resource base Mineral Resources Mineral Resource grade Milling capacity in region (Mtpa) in region (Mt) in region (g/t Au) Resource Life (years) St Barbara 1.4 (Leonora Process Plant) 122 2.7 87 Red5 5.7 (King of the Hills & Darlot) 123 1.7 22 O
Slide 16: St Barbara - lowest cost entry into consolidation
15 St Barbara - lowest cost entry into consolidation 1,400 Bubble size = Enterprise Value 1,200 1,000 Capricorn EV / Reserve (A$/oz) 800 600 Bellevue Gold Road Calidus 400 Silver Lake Regis 200 Ramelius Red 5 Westgold St Barbara 0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 Contained
Slide 17: Leonora is key to regional consolidation
16 Leonora is key to regional consolidation St Barbara is central in the province Leonora has the high grade which can travel A larger mill delivers value for leading resource base Lowest cost entry into consolidation
Slide 18: St Barbara
StBarbara
Slide 19: Supplementary slides
Supplementary slides
Slide 20: Exploration results, Mineral Resources and Ore Reserves reporting
19 Exploration results The information in this presentation that relates to Exploration Results is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Mustard is a full-time employee of St Barbara and has sufficient experience
Slide 21: Non-IFRS measures
20 Non-IFRS measures 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 assist management, inv
Slide 22: Investor Relations enquiries
Investor Relations enquiries Chris Maitland Kasun Liyanaarachchi Head of Investor Relations Manager - Investor Relations T: +61 3 8660 1914 T: +61 8 9380 7854 M: +61 477 120 070 M: +61 499 538 252 E: chris.maitland@stbarbara.com.au E: kasun.liyanaarachchi@stbarbara.com.au E: info@stbarbara.com.au Sc
Slide 23: St Barbara
StBarbara