St. Barbara Ltd. · ASX:SBM
St. Barbara — Q4 FY2020 Earnings Presentation
27 slides from St. Barbara's earnings presentation, Jul 29, 2020
Slide 1: Presentation on Q4 June FY20 Quarterly Report and audio webcast
ASX Release / 29 July 2020 Presentation on Q4 June FY20 Quarterly Report and audio webcast Craig Jetson, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June FY20 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 29 July 20
Slide 2: Q4 June FY20 Quarterly Presentation
Craig Jetson, Managing Director & CEO / 29 July 2020 ASX:SBM Q4 June FY20 Quarterly Presentation
Slide 3: Disclaimer
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 Compa
Slide 4: Contents
Contents • COVID‐19 • Projects • Highlights • Exploration & Growth • Safety • Conclusion • Operations • Appendices 3 / Q4 June FY20 Quarterly Presentation
Slide 5: St Barbara's response to COVID-19
St Barbara’s response to COVID‐19 St Barbara’s priority during the COVID‐19 pandemic is the health and wellbeing of its people, its partners and suppliers, and the communities in which it operates • No COVID‐19 cases detected at sites, however risks remain SBM COVID‐19 Management Framework and vigil
Slide 6: Highlights Q4 June FY20
Highlights Q4 June FY20 • 109 koz at AISC1 of A$1,301/oz (Q3: 92 koz at A$1,405/oz) Operational • Consolidated full year production in line with full year guidance performance • Strongest quarterly production since Q4 FY18 • Operational cash contribution1 of A$126 M (Q3: A$86 M) Financial • A$1,207/
Slide 7: Focus on safety
Focus on safety Total Recordable Injury Frequency Rate1 St Barbara LTIFR2 in comparison with Western Australian Mining benchmarks3 5.0 5.0 4.2 1.9 1.9 3.2 3.0 2.1 2.1 1.2 0.4 FY16 FY17 FY18 FY19 Q1 Q2 Q3 Q4 St Barbara WA Gold WA Metal FY20 FY20 FY20 FY20 Q4 FY20 • The Total Recordable Injury Frequen
Slide 8: Areas of focus FY21
Areas of focus FY21 • Productivity improvements • Renewed operating model Operational • Cost reductions opportunities • Enhanced technical expertise Agenda • Progress the Environmental Impact Statement (EIS) for each Atlantic Gold development project • Optimise sequencing of these projects Leonora •
Slide 9: Consolidated Q4 June FY20 Results
Consolidated Q4 June FY20 Results AISC Q4 FY20 AISC1 (A$/oz) 1,421 1,364 1,405 1,301 • Consolidated A$1,301/oz 1,175 FY20 average $1,369/oz (Q3: A$1,405/oz2) • Gwalia A$1,389/oz (Q3: A$1,556/oz) Gold Production • Simberi A$1,467/oz (Q3: A$1,629/oz) (koz) • Atlantic A$988/oz (Q3: A$951/oz) 109 109 94
Slide 10: Atlantic Gold Q4 June FY20 Results
Atlantic Gold Q4 June FY20 Results Q4 FY20 production AISC (A$/oz) • 29,209 oz (Q3: 26,032 oz)1 1,010 970 988 823 951 • AISC2 A$988/oz (C$900/oz) FY20 average $928/oz (Q3: A$951/oz; C$839/oz) Milled grade • Record production due to higher than (g/t Au) 1.51 1.24 1.29 1.24 1.41 anticipated grade and
Slide 11: Gwalia Q4 June FY20 Results
Gwalia Q4 June FY20 Results AISC (A$/oz) 1,559 1,230 1,471 1,556 1,389 Q4 FY20 Production FY20 average $1,485/oz • 51,297 oz (Q3: 39,684 oz) Mined grade • AISC1 A$1,389/oz (Q3: A$1,556/oz) (g/t Au) • Mined grade of 7.0 g/t Au (Q3: 8.1 g/t Au) 10.0 7.8 8.0 8.1 7.0 • Implementation of an ore focussed
Slide 12: Gwalia total material moved
Gwalia total material moved 275 • The Gwalia Extension Project (GEP) 267 267 262 249 17 surface infrastructure was transferred 3 11 44 to the mine operations team during 106 115 99 the quarter 89 • Reaming of the final raise bore ventilation shaft continued during 231 the quarter. The remaining 37 m
Slide 13: Simberi Q4 June FY20 Results
Simberi Q4 June FY20 Results AISC 1,851 (A$/oz) 1,603 1,629 1,467 Q4 FY20 Production 1,203 FY20 average $1,631/oz • 28,106 oz (Q3: 25,831 oz) • AISC1 A$1,467/oz (Q3: A$1,629/oz) Milled grade • Milled grade and recovery were both (g/t Au) 1.68 higher leading to increased production 1.31 1.19 1.08 1.1
Slide 14: Balance sheet
Balance sheet A$M 1,000 890 480 800 Entitle‐ ment A$780 Entitle‐ 600 Offer Atlantic ment (net proceeds) Gold Offer Purchase (net proceeds) 400 410 85 405 41 320 A$200 200 draw 3 down ‐34 76 79 0 Q1 movement net of: ‐112 Q2 movement net of: ‐112 Q3 movement net of: Q4 movement net of: $19 M dividends
Slide 15: Summary of exploration activity and expenditure
Summary of exploration activity and expenditure • Exploration fieldwork outside our mining leases resumed during the quarter with strict new COVID‐safe procedures in place • Majority of activity and expenditure was in Western Australia (Leonora, Gwalia and Pinjin) in Nova Scotia (Moose River Corrido
Slide 16: Growth pipeline
Growth pipeline Regional Moose River Corridor Tabar Island Group (Au, Au‐Cu) KEY Canada Back Creek Papua New Guinea Australia Leonora Province Equity Investments Greater Gwalia Beaver Dam Pinjin Cochrane Hill Peel Mining Aust Potash1 Fifteen Mile Stream Touquoy Mine4 (16%) (Au, EJV) Catalyst Metals
Slide 17: Conclusion
Conclusion • Improved safety performance across the Company • Maintained and evolved the COVID ‐19 management framework • Strongest quarterly production since Q4 FY18, with 108,612 ounces produced • Strong cash position of A$405 M1 • Debt of A$316 million2 (with A$200 M to be repaid at the end of Ju
Slide 18: Appendices
Appendices 17 / Q4 June FY20 Quarterly Presentation
Slide 19: Consolidated production, costs and guidance summary
Consolidated production, costs and guidance summary Production Summary Year Q1 Sep Q1 Sep Q2 Dec Q3 Mar Q4 Jun FY20 Guidance Guidance Consolidated FY 19 FY20 FY20 FY20 FY20 FY20 FY20 FY21 AG full AG SBM quarter attrib. St Barbara’s financial Year to Qtr to Qtr to Qtr to Qtr to Qtr to Year to Year to
Slide 20: Exploration FY21 guidance – A$30 to A$35 million
Exploration FY21 guidance – A$30 to A$35 million • Australia: o A$8 to A$9 M at Gwalia and Leonora regional o A$10 to A$11 M at Pinjin and Lake Wells in Western Australia, Back Creek in New South Wales, Horn Island in Queensland and Drummartin in Victoria • Canada: A$10 to A$12 M in Nova Scotia • PN
Slide 21: Exploration Leonora Regional, WA & Tabar Islands, PNG
Exploration Leonora Regional, WA & Tabar Islands, PNG For full explanation and results refer to ASX release 29 July 2020 ‘Q4 June FY20 Quarterly Report’ 20 / Q4 June FY20 Quarterly Presentation
Slide 22: Hedging summary as at 29 July 2020
Hedging summary as at 29 July 2020 Financial Volume Price Delivery Type Delivery Announced Year ounces $/oz schedule FY21 22,435 A$1,809 Forward Jul to Dec 2020 Monthly 26 Oct 2018 FY21 26,000 A$1,961 Forward Jul to Dec 2020 Monthly 24 Feb 2020 1 FY21 49,806 C$1,759 Forward Jul 2020 to Feb 2021 Quar
Slide 23: Ore reserves summary
Ore reserves summary Gwalia and Tower Hill reported as at 30 June 2019, Atlantic Gold as at 25 March 2019 and Simberi as at 31 December 2019 Proved Probable Total Project Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) Gwalia, (WA)
Slide 24: Mineral resources summary
Mineral resources summary Gwalia and Tower Hill reported as at 30 June 2019, Atlantic Gold as at 25 March 2019 and Simberi as at 31 December 2019 Measured Indicated Inferred Total Project Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces ('000) (g/t) ('000) ('000) (g/t) ('0
Slide 25: Non-IFRS measures and scheduled announcements
Non‐IFRS measures and scheduled announcements 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
Slide 26: Competent persons statement
Competent persons statement 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 Mustard is a full‐time empl
Slide 27: Investor relations enquiries
Investor relations enquiries Rowan Cole David Cotterell Company Secretary Manager Investor Relations T: +61 3 8660 1900 E: info@stbarbara.com.au 26 / Q4 June FY20 Quarterly Presentation