St. Barbara Ltd. · ASX:SBM
St. Barbara — Corporate Update (September 2019)
46 slides from St. Barbara's corporate update, Sep 11, 2019
Slide 1: Presentation to analysts and investors at Atlantic Gold Operations
ASX Release / 11 September 2019 Presentation to analysts and investors at Atlantic Gold Operations Attached is a presentation to analysts and investors attending a site visit this week at Atlantic Gold Operations, Nova Scotia, Canada. In anticipation of the recent Hurricane Dorian, operations at sit
Slide 2: Atlantic Gold site visit presentation
Laird Brownlie, General Manager Atlantic Gold Operations / September 2019 Atlantic Gold site visit presentation
Slide 3: Forward Statements
Forward Statements This presentation has been prepared by St Barbara Limited (“the 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
Slide 4: Contents
Contents Overview of St Barbara • Operations • Safety Atlantic Gold Operations • Acquisition rationale • Location • History • Production • Exploration • Growth Appendices Eleanor Chisholm (Exploration Geotechnician) and Tim Bourque (Senior Project Geologist) testing samples at the Core Facility 3 /
Slide 5: Corporate Overview
Corporate Overview ASX 200 (ASX: SBM; ADR: STBMY), est. 1969 Commodity Gold (Au) Market Cap1 A$1.9 B @ A$2.79/sh Shares1 696 M Liquidity2 9.2 M/day (1.3%) FY19 EPS3 A$0.27 FY19 total dividend A$0.08 Cash and cash deposits4 A$111 M Debt8 A$112 M (C$100 M) Ore Reserves (JORC) 5 6.0 Moz (4.1 Moz + 1.9
Slide 6: Focus on Safety
Focus on Safety Total Recordable Injury Frequency Rate1 9.0 6.0 5.0 5.0 4.1 2.1 2.1 1.2 FY 12 FY 13 FY 14 FY15 FY16 FY17 FY18 FY19 The Environment and Mine Operations Team, Touquoy Admin Building • Group-wide Total Recordable Injury Frequency Rate (TRIFR, 12 month moving average) at 5.0 at the end o
Slide 7: Atlantic Gold Operations
Atlantic Gold Operations Touquoy processing plant, with open pit and tailings facility in background 6 / Atlantic Gold Site Visit Presentation | September 2019
Slide 8: Transformational Acquisition Consistent with our Strategy
Transformational Acquisition Consistent with our Strategy "Stronger for Longer" • Substantial, low cost production from an established mining Diversify jurisdiction • CY19 forecast production of 92 – 98 koz at an AISC of C$695 – production base 755/oz (A$740 – 803/oz)1, with pathway to 200+ kozpa
Slide 9: Location
Location • Location advantages • Low geopolitical risk • Long established mining jurisdiction • Cost advantages • 1 hour from provincial capital of Halifax • Majority of employees live within 90 minutes drive • Proximity to Halifax for access to suppliers, potential employees & university research f
Slide 10: Brief History
Brief History 1858 Gold first discovered in Nova Scotia at Mooseland 1871 & Underground mining commenced at Beaver 1874 Dam and Fifteen Mile Stream 1877 Gold first produced at Touquoy and Cochrane Hill from underground mines and quarries 1996 Moose River Resources Inc (MRRI) acquired Touquoy Gold ve
Slide 11: Atlantic Gold Operations Overview
Atlantic Gold Operations Overview Key asset information • 60 km northeast of provincial capital of Halifax Location (population 400,000+) Employees • ~250 employees and ~50 contractors • Touquoy (in production) Deposits • Beaver Dam, Fifteen Mile Stream and Cochrane Hill (to be developed) Mining met
Slide 12: Atlantic Gold production and cost profile
Atlantic Gold production and cost profile AISC1 957 1,010 FY18 840 (A$/oz) 688 • commercial production AISC1 (US$/oz) 602 682 707 declared March 2018 503 Milled Grade (g/t Au) 1.44 1.28 1.54 1.37 1.21 FY19 actual 1.16 Reserve Grade2 • Production 93 koz Production 1.1 g/t Au June 2019 (koz) • AISC1 A
Slide 13: Nova Scotian Geology
Nova Scotian Geology Gold Districts Avalon Terrane CCSZ1 Cochrane Hill Fifteen Mile Stream Touquoy Beaver Dam 100 km Halifax Triassic to Jurassic Cambrian to Early Carboniferous Late Carboniferous Cambrian to Ordovician Meguma Terrane Halifax Formation Goldenville Formation Early Carboniferous Preca
Slide 14: Atlantic Gold Exploration Tenements
Atlantic Gold Exploration Tenements • Atlantic Gold has 21 exploration projects in Nova Scotia, with >2,200km2 of exploration tenements • Key exploration targets are near current deposits, the corridor program and south-west region 13 / Atlantic Gold Site Visit Presentation | September 2019
Slide 15: Reserves within Trucking Distance to a Central Processing Facility
Reserves within Trucking Distance to a Central Processing Facility Cameron Dam 1,089,000 Oz P&P Caribou Harrigan Cove Touquoy West 788,000 Oz P&P Central Processing Lake Facility Catcha 14 / Atlantic Gold Site Visit Presentation | September 2019 “P&P” = Total proven and probable reserves. Refer Ore
Slide 16: Atlantic Gold Production Profile
Atlantic Gold Production Profile Central processing facility Touquoy Processing plant commissioned in October 2017 _____ Commercial production declared in March 2018 Production of 93 koz in FY19 Beaver Dam Beaver Dam ore will be trucked to Touquoy processing plant once Touquoy reserves are m
Slide 17: Atlantic Gold Timeline and Expansion Plan
Atlantic Gold Timeline and Expansion Plan CY19 CY20 CY21 CY22 CY23 Touquoy (63.1%)1 (Commercial production declared in March 2018) Producing Beaver Dam (100%) Environmental application Productionand currently construction planned from 2022 Production currently planned from 2022 (37km from Touquoy) F
Slide 18: Reserve and Resource Development – 2018 to 2019
Reserve and Resource Development – 2018 to 20191,2 Ore Reserves 1.9 Ore Reserves (Moz) 1.6 0.5 • Increased from additions at Touquoy, Fifteen Mile 0.4 Stream and Cochrane Hill 0.6 0.4 • Key exploration targets are near existing deposits 0.3 0.5 0.5 0.3 2018 2019 Touquoy Beaver Dam Fifteen Mile Strea
Slide 19: Corridor Regional Program
Corridor Regional Program1 0 5 10 km • The 149 Deposit was the first discovery of the Corridor Regional Program, in June 2018 • Encouraging results were also obtained from the Seloam Brook, Mill Shaft and Cameron Flowage • 2019 plan anticipates to follow up previous results and also target Bear Broo
Slide 20: Federal and Provincial Environmental Permitting Process
Federal and Provincial Environmental Permitting Process • Environmental Impact Statement (EIS) Federal • Administered by Canadian Environmental Assessment Agency (CEAA) • 365 day review period once EIS is submitted EIS • EA Approval issued by Minister with conditions • Province of Nova Scotia Enviro
Slide 21: Nova Scotian Exploration Permitting Process
Nova Scotian Exploration Permitting Process The following permits are required to allow us to carry out exploration and mining activities. Private Land • Access agreements: Similar to permits, allow ground disturbance activities, these are negotiated with land owners. • NSE (Nova Scotia Environment)
Slide 22: Supporting the local community
Supporting the local community St Barbara will continue Atlantic Gold’s focus of working with the local community. Sponsorships • Nova Scotia Keltics Women’s Rugby Team • Musquodoboit Valley Health Foundation (purchase of ultrasound machine) • Musquodoboit Valley Food Bank • Gwalia Processing plant
Slide 23: Conclusion
Conclusion • Atlantic Gold is a high quality producing asset in an established mining jurisdiction • The operation was commissioned on time and on budget, with guidance exceeded • Reviewing exploration Gwalia Processing plant priorities Gwalia Gwalia –– Underground Underground mining mining Truck Tr
Slide 24: Appendices
Appendices Ryan Keating, Environmental Technician, sampling next to the Touquoy Tailings Management Facility 23 / Atlantic Gold Site Visit Presentation | September 2019
Slide 25: Growth Pipeline
Growth Pipeline Atlantic Gold KEY (Regional) Canada Tabar Island Group Atlantic Gold Papua New Guinea (Au, Au-Cu) (Beaver Dam) Australia Atlantic Gold Equity Investments Back Creek (Cochrane Hill) Peel Mining Atlantic Gold Greater Gwalia (16%) (Fifteen Mile Stream) Catalyst Metals Atlantic Gold Pinj
Slide 26: Southwest Exploration Tenements
Southwest Exploration Tenements Green Harbour East Tusket Triangle Moses Lake 25 / Atlantic Gold Site Visit Presentation | September 2019
Slide 27: Green Harbour East Exploration
Green Harbour East Exploration North Brookfield Pleasant River 43,148 Oz Barrens 112 Oz Molega Leipsigate 33,460 Oz 13,563 Oz Whiteburn 11,907 Oz Pleasantfield Voglers Cove 880 Oz 43 Oz Mill Village 910 Oz • Numerous historic districts along regional anticlinal hinges • Claims cover 10s of km of str
Slide 28: Tusket Triangle Exploration
Tusket Triangle Exploration Tusket Triangle Chebogue Point Shear Zone Kemptville 2,488 Oz Carleton 190 Oz • Shear-hosted gold deposits, including historic districts • Most historic exploration focused on tin and base metals • Thick glacial cover has limited historic “boots on the ground” prospecting
Slide 29: Moose River Corridor Model: the Touqouy-FMS model
Moose River Corridor Model: the Touqouy-FMS model • Traditional view of Meguma gold deposits – bedding parallel veins in argillite/greywacke sequence Gold mineralization in • Current view – gold dispersed argillite host rock in an in argillites, particularly where anticlinal fold hinge thickened in
Slide 30: Moose River Corridor Model: the Touqouy-FMS model
Moose River Corridor Model: the Touqouy-FMS model 1. Folding initiated: Bedding-parallel quartz veins at argillite-greywacke contacts 2. Folds tighten; veins are folded; axial planar cleavage develops in argillites Vein-hosted gold mineralization? 3. Argillites are thickened in fold hinges; folds lo
Slide 31: Fifteen Mile Stream Resource
Fifteen Mile Stream Resource 30 / Atlantic Gold Site Visit Presentation | September 2019
Slide 32: Cochrane Hill Resource
Cochrane Hill Resource 31 / Atlantic Gold Site Visit Presentation | September 2019
Slide 33: Cochrane Hill - Easterly plunging shoots limited only by drill data
Cochrane Hill - Easterly plunging shoots limited only by drill data Long Section 32 / Atlantic Gold Site Visit Presentation | September 2019
Slide 34: Simplified Flowsheet for Touquoy
Simplified Flowsheet for Touquoy ROM BIN PRIMARY SECONDARY TERTIARY CRUSHING CRUSHING CRUSHING CRUSHED ORE STOCKPILE DETOXIFICATION TAILINGS MANAGEMENT FACILICY ELECTROWINNING CONCENTRATE SLUDGE FILTRATION 33 / Atlantic Gold Site Visit Presentation | September 2019
Slide 35: Proposed Flowsheet for Fifteen Mile Stream
Proposed Flowsheet for Fifteen Mile Stream ROM CLUSTER PEBBLE CRUSHER STATIC GRIZZLY ROM TRASH HOPPER SCREEN SCALPING SCREEN PRIMARY CRUSHING CONC. CRUSHED CYCLONE FEED ORE PUMPBOX STOCKPILE ROUGHER 1ST CLEANER FLOTATION CONCENTRATE THICKENING TAILINGS POND CONCENTRATE CONCENTRATE TO MOOSE RIVER FLO
Slide 36: Touquoy Ownership Breakdown
Touquoy Ownership Breakdown Atlantic Gold Corp • Atlantic Gold owns 60% of Touquoy and 7.9% of Moose River Resources Inc. (MRRI) 7.9% 100% • MRRI has a 40% carried interest in Touquoy • As a result Atlantic Gold has a 63.1% beneficial interest in Moose River Touquoy Atlantic Mining NS Resources Inc
Slide 37: Touquoy Mine: Mining Fleet
Touquoy Mine: Mining Fleet Primary mining fleet Other Support Vehicles • Contract drilling o 1 x Track dozer o 2 x Tracked Drills o 1 x Hydraulic excavator • Loading o 2 x Wheel loaders o 2 x Cat 390 Hydraulic excavators o 1 x Wheel backhoe o 1 x Cat 988 Wheel loader used o 1 x On-highway dump truck
Slide 38: Atlantic Ore Reserves Summary
Atlantic Ore Reserves Summary per 25 March 2019 Release Tonnes (mt) Grade (g/t Au) Gold oz's ('000's) Touquoy Proven Reserves 3.36 1.10 119 Probable Reserves 7.14 1.28 295 Stockpile reserves 2.41 0.57 44 Total Proven and Probable Reserves 12.91 1.10 458 Beaver Dam Proven Reserves 3.81 1.54 188 Proba
Slide 39: Atlantic Mineral Resources Summary
Atlantic Mineral Resources Summary per 13 March 2019 Release Touquoy Beaver Dam Tonnage Grade Contained Gold Tonnage Grade Contained Gold Confidence Category (Mt) (g/t Au) (Au oz x 1,000) (Mt) (g/t Au) (Au oz x 1,000) Measured 3.4 1.14 124 5.1 1.28 209 Indicated 7.9 1.27 321 4.6 1.23 182 Total Measu
Slide 40: Shareholders and broker coverage
Shareholders1 and broker coverage Broker Research Coverage Not analysed Argonaut James Wilson 8% Institutional Canaccord Reg Spencer 88% Non Citi Trent Allen Institutional Credit Suisse Mike Slifirski 4% GMR David Radclyffe Goldman Sachs Matthew Frydman JP Morgan Levi Spry Macquarie Ben Crowley RBC
Slide 41: Board of Directors
Board of Directors Tim Netscher Bob Vassie Chairman – Non Executive Managing Director and CEO Appointed Director February 2014 Appointed July 2014 Appointed Chairman July 2015 Mr Vassie is a mining engineer with over 30 years’ international Mr Netscher is an experienced international mining executiv
Slide 42: Executive Leadership Team
Executive Leadership Team Bob Vassie Garth Campbell-Cowan Managing Director and CEO Chief Financial Officer Appointed July 2014 Joined 2006 Mr Vassie is a mining engineer with over 30 years’ international Mr Campbell-Cowan is a Chartered Accountant with 30 years’ mining industry experience and has 1
Slide 43: Group Structure
Group Structure MD & CEO Bob Vassie President CFO Company Americas Garth Campbell- Secretary Maryse Cowan Rowan Cole Belanger GM GM GM GM Atlantic SVP GM GM Leonora Simberi Finance & Gold Americas HR & HSEC Exploration Operations Operations Procurement Operations 42 / Atlantic Gold Site Visit Presen
Slide 44: Competent Persons Statement
Competent Persons Statement Exploration Results The information in this presentation that relates to Exploration Results is based on information compiled by Dr David Lowe, P Geo, (registered in Nova Scotia and Alberta). Dr Lowe is a full-time employee of Atlantic Gold and has sufficient experience r
Slide 45: Non-IFRS Measures
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, invest
Slide 46: Investor Relations Enquiries
Investor Relations Enquiries Rowan Cole Company Secretary David Cotterell Manager Investor Relations T: +61 3 8660 1900 E: info@stbarbara.com.au 45 / Atlantic Gold Site Visit Presentation | September 2019