St. Barbara Ltd. · ASX:SBM
St. Barbara — Investor Presentation (May 2024)
42 slides from St. Barbara's investor presentation, May 13, 2024
Slide 1: Presentation to analysts and investors in Melbourne and Sydney
13 May 2024 Presentation to analysts and investors in Melbourne and Sydney Attached is a presentation by Mr Andrew Strelein, Managing Director & CEO, to analysts and investors in Melbourne and Sydney this week. Authorised by Andrew Strelein Managing Director & CEO For more information Investor Relat
Slide 2: Investor Briefing Pack
Investor Briefing Pack Andrew Strelein, Managing Director & CEO May 2024
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: Disclaimer
Disclaimer JORC Code It is a requirement of the ASX Listing Rules that the reporting of (amongst other things) exploration results and mineral resources in Australia comply with the 2012 edition of the Joint Ore Reserves Committee’s Australasian Code for Reporting of Exploration Results, Mineral Res
Slide 5: Corporate Overview
Corporate Overview
Slide 6: Corporate Overview
5 Corporate Overview Corporate Structure Shareholders3 Shares on issue (ASX: SBM) 818.0 M Institutional 39% Performance rights 53.7 M Share price1 A$0.28 Other Market capitalisation1 A$225 M 12% Cash2 A$218 M Retail / HNW 49% Debt Nil Listed investments1 A$26 M Substantial shareholders4 Baker Steel
Slide 7: The St Barbara Asset Portfolio
6 The St Barbara Asset Portfolio Atlantic operations, Nova Scotia Simberi operations, Papua New Guinea Investment portfolio Atlantic Operations1 Simberi Operations1 Assets Ore Reserves 38.3Mt @ 1.1 g/t for 1.4Moz Au Ore Reserves 32.5Mt @ 1.9 g/t for 2.0Moz Au Cash3 $218M Mineral Resource 56.5Mt @ 1.
Slide 8: Investment portfolio
7 Investment portfolio Listed equity investments1 • Catalyst (ASX:CYL), 12.7M shares ($11M) • Kin (ASX:KIN), 158.1M shares ($10M) • Peel (ASX:PEX), 41.5M shares ($5M) Unlisted equity investments • Linden (unlisted), 30M shares - being acquired by Brightstar Resources (ASX: BTR) Royalty portfolio • ~
Slide 9: Simberi Operations
Simberi Operations
Slide 10: Simberi Operations
9 Simberi Operations Overview • 4.8 Moz in Mineral Resources Simberi Operations • 2.0 Moz in Ore Reserves • Northernmost island in the Tabar group of islands in the New Ireland Province, Papua New Guinea • Open cut mine with a 3.5 Mtpa plant (oxides) • Simberi Expansion project study work is underwa
Slide 11: Simberi Expansion Concept Study Results
10 Simberi Expansion Concept Study Results Highlights • Considered 2 flowsheet options: • Total gold production of 2.0 Moz ‒ concentrate Ultra Fine Grind (UFG) / Average annual gold production rising from 70 to 75 koz in FY25 to 230 koz from FY28 to cyanide leach (to produce gold doré) • FY34 ‒ prod
Slide 12: Simberi 10 Year Plus Mine Plan Outlook
11 Simberi 10 Year Plus Mine Plan Outlook Production & AISC based on 3.7 Mtpa Saleable Concentrate Case • The 3.7 Mtpa Saleable Concentrate flowsheet case is the basis for the 10 400 2,233 Year Plus Mine Plan Outlook supported 1,919 1,933 by previous Feasibility Study work and 350 1,170 996 1,062 1,
Slide 13: Simberi 10 Year Plus Mine Plan Outlook: Saleable Concentrate Flowsheet
12 Simberi 10 Year Plus Mine Plan Outlook Saleable Concentrate Flowsheet – Block Flow Diagram
Slide 14: Simberi 10 Year Plus Mine Plan Outlook: Alternative UFG / Cyanidation Case
13 Simberi 10 Year Plus Mine Plan Outlook Production & AISC based on Alternative 3.7 Mtpa Concentrate UFG / Cyanidation Case • The alternative Concentrate UFG / Cyanidation flowsheet presents further 400 upside from the Saleable Concentrate 2,103 1,919 1,933 flowsheet (assuming metallurgical 350 1,1
Slide 15: Simberi 10 Year Plus Mine Plan Outlook: Alternative Flowsheet
14 Simberi 10 Year Plus Mine Plan Outlook Alternative Concentrate UFG / Cyanidation Flowsheet – Block Flow Diagram
Slide 16: Mining and Processing Physicals, Growth Capital and Operating costs
15 Simberi 10 Year Plus Mine Plan Outlook Mining and Processing Physicals, Growth Capital and Operating costs Description Unit 3.7 Mtpa Saleable Alternative 3.7 Mtpa Concentrate Concentrate UFG / Cyanidation Ore Tonnes Mined Mt 39.5 40.7 • The alternative 3.7 Mtpa Concentrate Waste Tonnes Mined Mt 1
Slide 17: Simberi 10 Year Plus Mine Plan Outlook: Next Steps
16 Simberi 10 Year Plus Mine Plan Outlook Next Steps • Updated Mineral Resource and Ore Reserves Estimate; • Targeting Final Investment Decision in • Complete metallurgical testwork program; late H1 FY26 • Final selection of preferred flowsheet; • First production from Sulphide • Feasibility Study U
Slide 18: Simberi – FY25 Resource & Exploration Drilling
17 Simberi – FY25 Resource & Exploration Drilling • An interpreted diatreme breccia model has been developed, the outer margin forming a 1.7 to 2.2 km diameter oval • In three dimensions, the breccia body forms an ‘inverted cone’ geometry with the base dipping moderate to shallowly inwards towards t
Slide 19: Simberi – FY25 Resource & Exploration Drilling
18 Simberi – FY25 Resource & Exploration Drilling • The 3D model looks down towards the northeast. Current gold mineralisation >0.6 g/t Au intersected in drilling is displayed in red • The locations of pit shells are displayed as well as the location of the interpreted margin to the main diatreme br
Slide 20: Simberi Expansion – Resource Definition Drilling
19 Simberi Expansion – Resource Definition Drilling • A diamond drill program comprising 32 holes for 7,200m was designed to further evaluate the sulphide potential • Targeting below and between Sorowar and Pigiput deposits as well as below Pigibo deposit • Completed all 23 resource definition (gree
Slide 21: Sorowar – Pigiput Trend – New Mineralised Zone
20 Sorowar – Pigiput Trend – New Mineralised Zone • In total 15 resource definition drill holes and 4 exploration drill holes were completed at the Pigiput-Sorowar Trend • Assay results further defined a new zone of broad mineralisation along the northwest trend between the existing Sorowar and Pigi
Slide 22: Sorowar – Pigiput Trend – New Mineralised Zone
21 Sorowar – Pigiput Trend – New Mineralised Zone
Slide 23: Sorowar – Pigiput Trend – New Mineralised Zone
22 Sorowar – Pigiput Trend – New Mineralised Zone
Slide 24: Atlantic Operations
Atlantic Operations
Slide 25: Atlantic Operations
24 Atlantic Operations Overview • 2.0Moz in Mineral Resources • 1.4Moz in Ore Reserves • Located north-east of Halifax, Nova Scotia, Canada Atlantic • Touquoy plant is a conventional carbon in leach Operations circuit with 2.8Mtpa capacity • 15-Mile is next planned project, utilising relocated Touqu
Slide 26: 15-Mile Project
25 15-Mile Project Standalone project utilising the Touquoy plant Located ~40km east-northeast of Touquoy • Pre-feasibility Study released October 2023 • Comprises of four open pits, with low strip ratios • 11-year mine life producing 55-60kozpa gold at AISC of US$992/oz • Designed as standalone 1.8
Slide 27: 15-Mile Project: Project Economics
26 15-Mile Project Project Economics Project Economics Unit LOM Total or Average LOM Total or Average • Pre-tax NPV of C$220 million (A$250 million) and IRR of 22.0% Gold Price US$/oz $1,700 $1,900 • Post-tax NPV of C$174 million Exchange Rate CAD:USD 0.78 0.78 (A$198 million) and IRR of 20.3% Cash
Slide 28: 15-Mile Project: Forecast Life of Mine Gold Production and Head Grade
27 15-Mile Project Forecast Life of Mine Gold Production and Head Grade 1.20 70 • Average gold production is 56 koz per annum over an 11 year mine life 1.10 60 1.00 50 Gold Produced (koz) 0.90 Head Grade (g/t) 40 0.80 30 0.70 20 0.60 0.50 10 0.40 0 1 2 3 4 5 6 7 8 9 10 11 Project Year Gold Produced
Slide 29: 15-Mile – Mineral Resources and Ore Reserves
28 15-Mile – Mineral Resources Measured Indicated Inferred Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) Egerton-MacLean 2.6 1.2 101 12.9 1.1 461 1.4 1.3 56 16.8 1.
Slide 30: Beaver Dam Project
29 Beaver Dam Project Approximately 60km east of 15-Mile via existing roads • The Beaver Dam Pre-feasibility Study has taken into consideration stakeholder feedback and environmental limitations and opportunities to reduce impacts. • The site footprint has decreased due to: ‒ smaller pit size ‒ lowe
Slide 31: Beaver Dam – Mineral Resources and Ore Reserves
30 Beaver Dam – Mineral Resources 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 Au) (000’s) (000’s) (g/t Au) (000’s) Beaver Dam 5.1 1.3 210 4.8 1.2 190 1.2 1.4 5
Slide 32: Atlantic Exploration – Cochrane Hill
31 Atlantic Exploration – Cochrane Hill • An initial diamond drill program comprising 25 holes for 2,500m is underway to test prospective stratigraphy along strike East and West of the Cochrane Hill Deposit • Significant intercepts at Cochrane Hill West requiring follow-up drilling include: • CHC-07
Slide 33: Atlantic Exploration – Cochrane Hill Deeps
32 Atlantic Exploration – Cochrane Hill Deeps • Deeper drill intercepts located below the current pit optimisation includes: ‒ CH-18-299: 7m @ 23.7 g/t Au from 285m ‒ CH-18-273: 10m @ 3.8 g/t Au from 264m ‒ CH-18-345: 22m @ 3.1 g/t Au from 286m • Drill hole CH-24-358 intersected mineralisation ~115
Slide 34: Atlantic Exploration – Cochrane Hill Deeps
33 Atlantic Exploration – Cochrane Hill Deeps • Drill hole CH-24-358 was completed to a final depth of 473 metres and intersected mineralisation between 389 m and 428 m depth • Visible gold was observed at eight locations (389.5 m, 410.6 m, 410.8 m, 413.0 m, 413.45 m, 413.5 m, 413.6 m and 427.7 m de
Slide 35: Australian Exploration
Australian Exploration
Slide 36: Back Creek – follow up drilling underway
35 Back Creek – follow up drilling underway • EL8214 and EL8530 were recently renewed for 5 year terms • Soil sampling, aircore and diamond drilling programs are planned to advance the two main targets • Exploration is targeting porphyry copper-gold mineralisation in the east and mesothermal gold to
Slide 37: Back Creek – Southwest Targets
36 Back Creek – Southwest Targets • A 28-hole Aircore drill program of 2,862 m was completed during the quarter that tested a further 1.1 kilometre strike length of the Southwest Target. • Best results include: ‒ BKAC0103: 4 m @ 3.66 g/t Au from 62 m ‒ BKDD0097: 4 m @ 1.2 g/t Au from 56 m; and ‒ BKD
Slide 38: Supplementary slides
Supplementary slides
Slide 39: APPENDIX A – St Barbara Ore Reserves
APPENDIX A – St Barbara Ore Reserves Proved Probable Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) Beaver Dam 2.9 1.6 140 1.6 1.5 80 4.5 1.5 220 Fifteen Mile Stream 4.2 1.0 140 14.3 1.0 480 18.5 1.0 620 Coc
Slide 40: APPENDIX B – St Barbara Mineral Resources
APPENDIX B – St Barbara Mineral Resources Measured Indicated Inferred Total Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) (Mt) (g/t Au) (000’s) Beaver Dam 5.1 1.3 210 4.8 1.2 190 1.2 1.4 50 11
Slide 41: Investor Relations enquiries
Investor Relations enquiries INVESTOR RELATIONS MEDIA RELATIONS David Cotterell Morrow Sodali General Manager Business Development & Investor Relations Paul Ryan / Michael Weir T: +61 3 8660 1959 M: +61 409 296 511 M: +61 447 644 648 M: +61 402 347 032 E: info@stbarbara.com.au
Slide 42: St Barbara
St Barbara