St. Barbara Ltd. · ASX:SBM
St. Barbara — H1 FY2022 Earnings Presentation
26 slides from St. Barbara's earnings presentation, Feb 23, 2022
Slide 1: FY22 Half Year Results Presentation
For personal use only FY22 Half Year Results Presentation Craig Jetson Managing Director and CEO Lucas Welsh Chief Financial Officer 23 February 2022
Slide 2: Disclaimer
2 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 3: Acknowledgement of Country
3 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. We recognise the
Slide 4: Agenda
Agenda For personal use only Safety Half Year FY22 Performance and Key Achievements Half Year FY22 Financial Results Our aspiration Summary
Slide 5: Safety always
5 Safety always For personal use only TOTAL RECORDABLE INJURY FREQUENCY RATE (TRIFR)1 5.0 3.9 Safety 3.6 3.0 Always 2.7 2.1 Zero harm is always our target. Zero harm to all people as we responsibly operate our assets to their full potential. This focus FY18 FY19 FY20 FY21 Q1 Q2 on safety guides FY22
Slide 6: 2022 Bloomberg Gender Equality Index Inclusion
6 2022 Bloomberg Gender Equality Index (GEI) Inclusion For personal use only “Inclusion in the GEI matters to us because it brings transparency to gender-related practices and policies at publicly listed companies thereby increasing the breadth of environmental, social and governance data available
Slide 7: Agenda
Agenda For personal use only Safety Half Year FY22 Performance and Key Achievements Half Year FY22 Financial Results Our aspiration Summary
Slide 8: Key achievements in H1 FY22
8 Key achievements in H1 FY22 • Group gold production steady at 132,524 oz For personal use only • All-in Sustaining Costs1 of A$1,539/oz • $42M cash contribution from operations after sustaining and growth capital • Leonora Province Plan progress • Simberi DSTP2 complete to enable January restart •
Slide 9: Accelerating Leonora Province Plan
9 Accelerating Leonora Province Plan For personal use only 1. Tower Hill – 600koz increase in mineral resources 2. Expanding processing plant from 1.4 to 2.1mtpa 3. Installing refractory processing capability 4. Planned acquisition of Bardoc Gold • Two mines ready for development • Supported by rail
Slide 10: Update on COVID-19 outbreak at Simberi
10 Update on COVID-19 outbreak at Simberi Monthly COVID-19 cases at Simberi 300 For personal use only 250 200 150 100 50 0 • Rapid and significant increase in infections recorded • Will take time to work through backlog of at Simberi site maintenance issues • Significant percentage of management tea
Slide 11: Agenda
Agenda For personal use only Safety Half Year FY22 Performance and Key Achievements Half Year FY22 Financial Results Our aspiration Summary
Slide 12: Profitable despite Simberi being offline
12 Profitable despite Simberi being offline For personal use only Cash flow from Underlying EBITDA1 Underlying NPAT1 (A$ M) (A$ M) operating activities (A$ M) 103 15 19 EBITDA Margin1 EPS Gearing ratio (%) (Underlying, A$ cents ) (Debt/Equity)2 31 2 13% 1. Non-IFRS financial measures, the details of
Slide 13: Strong underlying profit improvement at Leonora offset by Simberi
13 Strong underlying profit improvement at Leonora offset by Simberi For personal use only A$ M 68 40 (84) 10 (8) 11 6 (2) (2) 15 (24) H1 FY21 Gross Gross Gross Exploration Corporate D&A Finance & Other Income Tax H1 FY22 Profit Profit Profit Costs & FX Expense Leonora Simberi Atlantic Royalties
Slide 14: Strong cashflow generated from two operations
14 Strong cashflow generated from two operations For personal use only A$ M 100 37 (33) (62) (19) 133 $42M cash contributions from operations after (34) sustaining and growth capex 44 (23) 94 (22) (13) (14) Cash Leonora Simberi Atlantic Growth Exploration Corporate Income Investments Dividends Other
Slide 15: Funding growth through debt and operating cash flow
Funding growth through debt and operating cash flow1 For personal use only Capital projects estimates • Simberi Sulphide Project: ~US$170M FY22 to FY24 • Beaver Dam mine construction: ~A$117M FY23 to FY24 • Zoroastrian mine construction: ~A$15M FY23 to FY242,3 Project development • Aphrodite mine co
Slide 16: Agenda
Agenda For personal use only Safety Half Year FY22 Performance and Key Achievements Half Year FY22 Financial Results Our aspiration Summary
Slide 17: Aspirational production of ~600kozpa
17 Aspirational production of ~600kozpa For personal use only 700 600 1. Leonora: aspirational production of ~270kozpa once the proposed 2.1Mtpa processing facility is installed comprising 180kozpa from Gwalia Underground and Aspirational Gold Production (koz) 500 90kozpa from near mine and/or acqui
Slide 18: Turning around operational performance at Gwalia
18 Turning around operational performance at Gwalia For personal use only 1,600 • FY16 to FY18 – Declining performance Ore and Waste movement to 1,400 1,200 • Fewer tonnes moved to surface surface (kt) 1,000 • Limited development metres 800 600 • Waste material stored underground 400 • FY19 to FY20
Slide 19: Agenda
Agenda For personal use only Safety Half Year FY22 Performance and Key Achievements Half Year FY22 Financial Results Our aspiration Summary
Slide 20: Delivering St Barbara's transformation
20 Delivering St Barbara’s transformation For personal use only Bardoc acquisition announced Potential new mining front - Old Gwalia South Plans to expand Leonora processing plant Advancing Tower Hill, Harbour Lights and Trevor Bore Simberi back in production
Slide 21: Supplementary slides
For personal use only Supplementary slides
Slide 22: Consolidated production, costs and guidance summary
22 Consolidated production, costs and guidance summary Production Summary Q2 Dec Q3 Mar Q4 Jun Year Q1 Sep Q2 Dec Guidance Consolidated FY21 FY21 FY21 FY21 FY22 FY22 FY22 For personal use only St Barbara’s financial year is Qtr to Qtr to Qtr to Year to Qtr to Qtr to Year to 1 July to 30 June 31 Dec
Slide 23: Hedging summary as at December 2021
23 Hedging summary as at 31 December 2021 For personal use only Financial Volume Price Type Delivery Delivery Year Ounces $/oz schedule Jan 22 to Dec 22 48,010 C$2,050 European call options Jan 2022 to Dec 2022 Monthly Jan 22 to Jun 22 60,000 A$2,465 Forwards Jan 2022 to Jun 2022 Monthly
Slide 24: Competent persons statement
24 Competent persons statement For personal use only 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 Metallurgy. Dr Mustard is a full-time em
Slide 25: Investor Relations enquiries
Investor Relations enquiries For personal use only Chris Maitland Head of Investor Relations T: +61 3 8660 1914 M: +61 477 120 070 E: info@stbarbara.com.au Scheduled ASX Announcements 26 April 2022 Q3 March 2022 Quarterly Report
Slide 26: For personal use only
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