St. Barbara Ltd. · ASX:SBM
St. Barbara — Q3 FY2023 Earnings Presentation
27 slides from St. Barbara's earnings presentation, Apr 27, 2023
Slide 1: Presentation on Q3 March FY23 Quarterly Report and audio webcast
27 April 2023 For personal use only Presentation on Q3 March FY23 Quarterly Report and audio webcast Mr Dan Lougher, Managing Director & CEO, will brief analysts and investors on the Q3 March FY23 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Thursday 27 April 202
Slide 2: Q3 March FY23 Quarterly Presentation
For personal use only Q3 March FY23 Quarterly Presentation Dan Lougher Managing Director and CEO 27 April 2023
Slide 3: Agenda
Agenda For personal use only • Introduction and safety • Q3 FY23 overview • Cash position • Sale of Leonora assets for a total consideration of $600 million • Q&A
Slide 4: Disclaimer
3 Disclaimer This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Com
Slide 5: Acknowledgement of Country
4 Acknowledgement of Country For personal use only We at St Barbara acknowledge the First Nations people of the ancestral lands on which we operate in Australia, Canada and Papua New Guinea. We pay our respects to all First Nations people, and to Elders past, present, and emerging.
Slide 6: Safety always
5 Safety always For personal use only TOTAL RECORDABLE INJURY FREQUENCY RATE (TRIFR)1 5.0 4.6 4.7 4.3 3.9 3.4 3.0 2.1 FY18 FY19 FY20 FY21 FY22 Q1 FY23 Q2 FY23 Q3 FY23 1. Total Recordable Injury Frequency Rate (12 month avg.), total recordable injuries per million hours worked Atlantic Operations Eme
Slide 7: Q3 FY23 overview
For personal use only Q3 FY23 overview
Slide 8: Q3 FY23 Snapshot
7 Q3 FY23 Snapshot AISC For personal use only (A$/oz) • Gold production of 59koz at AISC1 of $2,553 per 2,666 2,490 2,553 ounce 2,290 2,007 1,623 1,587 • $30 million cash contributions from operations, 1,492 $26 million of which came from Atlantic and Simberi • Announced sale of St Barbara’s Leonora
Slide 9: Leonora Q3 FY23 Results
8 Leonora Q3 FY23 Results AISC Lower than expected production at Leonora (A$/oz) For personal use only 2,796 2,809 • Ineffective blasting slowed mining rates 2,487 1,916 1,854 • Additional development expected increase mining rates in FY24 MINED GRADE • Grade below expectation due to resource model
Slide 10: Simberi Q3 FY23 Results
9 Simberi Q3 FY23 Results AISC Lower mining rates impacted gold production (A$/oz) For personal use only 4,064 • Mining rates impacted by: 2,416 2,754 2,335 2,472 ‒ Shortage of waste dumping options proximate to mining areas MINED GRADE • Cycle times increased by 10% compared to Q2 (g/t AU) Reserve
Slide 11: Atlantic Q3 FY23 Results
10 Atlantic Q3 FY23 Results AISC In-pit mining completed at Touquoy (A$/oz) For personal use only 2,867 2,085 • Final benches of the completed pit consisted 2,013 2,027 1,972 predominantly higher grade ore • AISC improvement driven by: MINED GRADE ‒ lower sustaining capital (g/t AU) Reserve grade 1.
Slide 12: Cash position
For personal use only Cash position
Slide 13: Q3 cash position
12 Q3 cash position • Strong cash flow generation from Simberi and • Corporate costs have been reduced through For personal use only Atlantic corporate office restructure • Lower mining costs at Atlantic following transition • $20m drawn down from debt facility during January to stockpile only proce
Slide 14: Sale of Leonora assets for a total consideration of $600 million
Sale of Leonora assets for a total For personal use only consideration of $600 million
Slide 15: A New St Barbara
14 A New St Barbara St Barbara has entered into a binding agreement with Genesis in respect of the sale of St Barbara’s For personal use only Leonora Assets, including Gwalia and nearby exploration and development assets Total consideration of $600m comprising $370m upfront cash, $170m Genesis scrip
Slide 16: Revised Transaction Structure
15 Revised Transaction Structure For personal use only Asset Sale Structure Pro-forma cash position Uses of Cash Consideration from Asset Sale $m $470m AUD debt repayment 70 Capital raising CAD debt repayment2 90 Lease liabilities repayment 15 $370m cash consideration, $170m scrip consideration1, Tr
Slide 17: The St Barbara Asset Portfolio
16 The St Barbara Asset Portfolio For personal use only Atlantic operations, Nova Scotia Simberi operations, Papua New Guinea Investment portfolio Atlantic Operations1 Simberi Operations1 Assets Ore Reserves 46.0Mt @ 1.0 g/t for 1.5Moz Au Ore Reserves 34.8Mt @ 1.8 g/t for 2.0Moz Au Cash2 $197m Miner
Slide 18: St Barbara Strategic Focus
17 St Barbara Strategic Focus St Barbara shareholders to realise the long-term For personal use only value of the Simberi and Atlantic operations in a Atlantic Operations dedicated and refreshed vehicle Corporate Establish a refreshed corporate culture and identity focused on value Actively manage t
Slide 19: Value proposition
18 Value proposition For personal use only Transaction Highlights Pro-forma St Barbara 5.9Moz in Mineral Increased exposure to Headline consideration Resources and 3.5Moz Extinguishes all Tower Hill upside of $600m vs. in Ore Reserves – senior debt and lease through Genesis scrip St Barbara enterpri
Slide 20: St Barbara
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Slide 21: Supplementary slides
For personal use only Supplementary slides
Slide 22: APPENDIX A – St Barbara Ore Reserves
APPENDIX A – St Barbara Ore Reserves St Barbara’s pro-forma Ore Reserves are 3.5Moz For personal use only Proved Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (000’s) (g/t Au) (000’s) (000’s) (g/t Au) (000’s) (000’s) (g/t Au) (000’s) Simberi Oxide 2,091 1.3 86 5,
Slide 23: APPENDIX B – St Barbara Mineral Resources
APPENDIX B – St Barbara Mineral Resources St Barbara’s pro-forma Mineral Resources are 5.9Moz For personal use only Measured Indicated Inferred Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (000’s) (g/t Au) (000’s) (000’s) (g/t Au) (000’s) (000’s) (g/t
Slide 24: Exploration Results
23 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 For personal use only Metallurgy. Dr Mustard is a full-time employee of St Barbara and has
Slide 25: Non-IFRS Measures
24 Non-IFRS Measures We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash For personal use only operating costs. We believe that these measures provide meaningful information to
Slide 26: Investor Relations enquiries
Investor Relations enquiries For personal use only Kasun Liyanaarachchi Manager - Investor Relations T: +61 8 9380 7854 M: +61 499 538 252 E: kasun.liyanaarachchi@stbarbara.com.au Scheduled ASX Announcements 27 July 2023 Q4 June 2023 Quarterly Report 24 August 2023 FY23 Annual Financial Report
Slide 27: St Barbara
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