St. Barbara Ltd. · ASX:SBM
St. Barbara — Shareholder Meeting (November 2009)
21 slides from St. Barbara's shareholder meeting presentation, Nov 19, 2009
Slide 1: ASX Announcement: 2009 Annual General Meeting
ASX Announcement 2009 For personal use only Annual General Meeting We attach a copy of the Chairman’s address and Managing Director and CEO’s presentation for the 2009 Annual General Meeting in Melbourne today. Yours faithfully Ross Kennedy Company Secretary 19 November 2009 St Barbara Limited ACN 0
Slide 2: AGM 2009 Chairman's Address
St Barbara Limited ABN 36 009 165 066 AGM 2009 Chairman’s Address For personal use only Ladies and Gentlemen I welcome you to the St Barbara Limited Annual General Meeting for 2009. The Year in Review The highlight of the year was the successful commissioning of the Gwalia Gold Mine at Leonora. This
Slide 3: Chairman's Address: Revitalising the Company
2 All of St Barbara’s gold revenue is in Australian dollars. The Company remains exposed to any strengthening of the Australian dollar, with a consequential impact on forecast cash flows for the remainder of this financial year. There will be a continuing strong drive within St Barbara to better man
Slide 4: Chairman's Address: Financing Needs
3 In either case, the ore will feed the Gwalia mill which is now running on a campaign basis treating only Gwalia underground ore. Fully utilising the rated capacity of the Gwalia treatment plant with ore sourced from either Tower Hill or Tarmoola is expected to significantly reduce the cost of trea
Slide 5: Chairman's Address: The Outlook
4 exceptional and much appreciated, as has the continuing support from a number of investment and stock-broking houses. The Board believes that all eligible retail shareholders will appreciate the investment opportunity at current prices to also participate fully in the retail segment of the rights
Slide 6: Chairman's Address: CEO Transition and Remuneration
5 • In managing the transition, the Board fulfilled the Company’s contractual obligations to the outgoing CEO. In entering into that contract with Mr Eshuys, the Board had regard to such issues as the reality of the Company’s position, and prevailing shareholder and community concerns about levels o
Slide 7: Annual General Meeting - 2009
For personal use only Annual General Meeting - 2009 Tim Lehany, Managing Director & CEO 19 November, 2009 1
Slide 8: Disclaimer
Disclaimer This presentation has been prepared by St Barbara Limited (Company). For personal use only 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, sec
Slide 9: Revitalisation
Revitalisation For personal use only ▪ Reliable delivery is a key focus area ▪ Strategic review completed ▪ Solid 3 year plan on track ▪ Gwalia is cornerstone asset and will generate strong free cash flow ▪ Organic growth opportunities ▪ Rights issue is the next logical step ▪ $124million equity rai
Slide 10: Gwalia, Leonora – St Barbara's cornerstone asset
Gwalia, Leonora – St Barbara’s cornerstone asset For personal use only 4
Slide 11: Gwalia – Long life, low cost operation
Gwalia – Long life, low cost operation For personal use only 1 ▪ High grade (9g/t), long life 9 yrs Three year forecast ▪ Established mining method 250 ▪ Geotechnical characteristics well 200 understood ▪ Increasing grades in FY11 and FY12 150 • First quartile cash cost by FY12 100 • Available plant
Slide 12: Gwalia – New mining operation in fresh rock
Gwalia – New mining operation in fresh rock For personal use only Three year production focus 1100-1400 mbs 6
Slide 13: Gwalia - Production sequence FY 09-12
Gwalia - Production sequence FY 09-12 For personal use only 7
Slide 14: Southern Cross – Three year outlook
Southern Cross – Three year outlook For personal use only ▪ Reliable production koz ▪ Surplus plant capacity (>1Mtpa) ▪ Options to extend mine life ▪ New lodes close to existing mine development are under explored ▪ Drilling for depth extensions for existing lodes underway *Assumes conversion of res
Slide 15: Safe production
Safe production For personal use only 18 16 14 12 10 8 SBM CIFR 6 4 WA Gold Industry 07-08 2 0 ▪ Guidance met with improving safety ▪ Safe production will be key to our success 9
Slide 16: Tower Hill – Growth opportunity
Tower Hill – Growth opportunity For personal use only Attractive potential satellite ore source* ▪ Existing JORC probable reserves totalling 2.2Mt at 4.7g/t for 338k oz contained ounces of gold ▪ Indicated and inferred resources totalling 5.1Mt at 4.7g/t for 762k oz contained gold ▪ Potential produc
Slide 17: Tarmoola – Higher grade potential
Tarmoola –Higher grade potential For personal use only Attractive potential satellite ore source* ▪ New JORC Indicated and Inferred Resources totalling 2.0Mt at 6.0g/t for 376k oz contained ounces of gold ▪ Potential production of 190k oz – 210k oz over 5yrs ▪ Preliminary mining studies indicate: ▪
Slide 18: Discovery & Growth
Discovery & Growth For personal use only • Exploration projects will be assessed and ranked on the basis of potential value • Drilling opportunities will be prioritised in extensive land bank, incl. W. A, NSW and Sth Aust. • Other gold opportunities will be sought within Australia • Consideration wi
Slide 19: Capital management
Capital management For personal use only ▪ Debt funding possible but would require hedging ▪ A$50M equity standby facility drawdown but would be dilutive ▪ Equity raising best suits St Barbara’s requirements and shareholders interest ▪ Proceeds will provide balance sheet strength to remove financial
Slide 20: Positioned for Growth
Positioned for Growth For personal use only ▪ Growing gold production from 200-240koz in FY10 to 300-340koz in FY12 ▪ Reliable delivery to forecast ▪ New executive team in place ▪ Strong underground mining capability ▪ Reducing cost profile ▪ Leverage to A$ gold price ▪ Organic growth opportunities
Slide 21: Growing Australian Gold Producer
For personal use only Growing Australian Gold Producer Investor Relations Enquiries Ross Kennedy, Executive General Manager, Corporate Services Xian Davies, Investor Relations & Communications Tel + 61 (3) 8660 1900 Email : xian.davies@stbarbara.com.au www.stbarbara.com.au 15 15