St. Barbara Ltd. · ASX:SBM
St. Barbara — Prospectors & Developers Association of Canada (PDAC) Conference 2024
36 slides from St. Barbara's conference presentation, Mar 4, 2024
Slide 1: Presentation to investors at PDAC Conference
4 March 2024 Presentation to investors at Prospectors & Developers Association of Canada (PDAC) Conference Attached is a presentation by Mr Andrew Strelein, Managing Director & CEO, to investors this week at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto, Canada. Aut
Slide 2: Investor Briefing Pack
Investor Briefing Pack Andrew Strelein, Managing Director & CEO March 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 42% Performance rights 53.8 M Share price1 A$0.15 Market capitalisation1 A$119 M Other 8% Cash2 A$214 M Retail / HNW 49% Debt Nil Listed investments1 A$20 M Substantial shareholders4 Baker Steel C
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 $214M Mineral Resource 56.5Mt @ 1.
Slide 8: Investment portfolio
7 Investment portfolio Listed equity investments1 • Catalyst (ASX:CYL), 12.7M shares ($6M) • Kin (ASX:KIN), 158.1M shares ($9M) • Peel (ASX:PEX), 41.5M shares ($5M) Unlisted equity investments • Linden (unlisted), 30M shares Royalty portfolio • ~20 mineral royalties majority in Western Australia • C
Slide 9: Undervalued vs Market Peers
8 Undervalued vs Market Peers St Barbara has Mineral Resources of 6.8Moz & Ore Reserves of 3.4Moz Source: Macquarie Group: 2023 Gold Year-in-Review & Jan 2024 Gold Monthly Report
Slide 10: Atlantic Operations
Atlantic Operations
Slide 11: Atlantic Operations
10 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 12: 15-Mile Project
11 15-Mile Project Standalone project utilising the Touquoy plant • Pre-feasibility Study released October 2023 Located ~40km east-northeast of Touquoy • 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.
Slide 13: 15-Mile Project Economics
12 15-Mile Project Project Economics • Pre-tax NPV of C$220 million Project (A$250 million) and IRR is 22.0% Economics Unit LOM Total or Average LOM Total or Average • Post-tax NPV of C$174 million Gold Price US$/oz $1,700 $1,900 (A$198 million) and the IRR is Exchange Rate CAD:USD 0.78 0.78 20.3% C
Slide 14: 15-Mile Forecast Life of Mine Gold Production and Head Grade
13 15-Mile Project Forecast Life of Mine Gold Production and Head Grade • Average gold production is 56 koz per annum over an 11 year mine 1.20 70 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 15: 15-Mile – Mineral Resources and Ore Reserves
14 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 2.57 1.2 101 12.86 1.1 461 1.36 1.3 56 16.7
Slide 16: Beaver Dam Project
15 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 17: Beaver Dam – Mineral Resources and Ore Reserves
16 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 18: Atlantic Exploration – Cochrane Hill
17 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 19: Atlantic Exploration – Cochrane Hill Deeps
18 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 20: Atlantic Exploration – Cochrane Hill Deeps
19 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 21: Simberi Operations
Simberi Operations
Slide 22: Simberi Operations
21 Simberi Operations Overview • 4.8Moz in Mineral Resources Simberi Operations • 2.0Moz in Ore Reserves • Northernmost island in the Tabar group of islands in the New Ireland Province, Papua New Guinea • Open cut mine with a 3.5Mtpa plant (oxides) • Simberi Expansion project study work is underway
Slide 23: Simberi – current mine schedule FY24 to FY26
22 Simberi – current mine schedule extended out for FY24 to FY26 3,500,000 1.10 3,000,000 1.00 2,500,000 0.90 Gold grade (g/t) Ore Tonnes (t) 2,000,000 0.80 1,500,000 0.70 1,000,000 0.60 500,000 0 0.50 FY24 FY25 FY26 Measured Resources Indicated Resources Inferred Resources *Lower cut-off/material c
Slide 24: Simberi Expansion – Exploration Targets
23 Simberi Expansion – Exploration Targets • Detailed 3D modelling of sulphide mineralisation on ML136 has been completed targeting below and in between the Sorowar and Pigiput deposits as well as below Pigibo deposit • A diamond drill program comprising 32 holes for 7,200m was designed to further e
Slide 25: Sorowar – Pigiput Trend
24 Sorowar – Pigiput Trend • In total 15 resource definition drill holes were completed at the Pigiput-Sorowar Trend • Significant assay results for 7 holes received to date • A new broad mineralised zone has been intercepted along the targeted trend between Pigiput and Sorowar ore bodies • The 4 ex
Slide 26: Sorowar – Pigiput Trend
25 Sorowar – Pigiput Trend • Drill hole SDH525 intersected a new zone of broad mineralisation along the targeted trend between Pigiput and Sorowar ore bodies and outside any current Inferred Resource area • Results from SDH525 included: ‒ 24 m @ 1.3 g/t Au from 105 m, 22 m @ 1.6 g/t Au from 147 m, 2
Slide 27: Sorowar – Pigiput Trend
26 Sorowar – Pigiput Trend • Drill hole SDH523: ‒ 53 m @ 0.9 g/t Au from 127m, including ‒ 7 m @ 1.5 g/t Au from 147 m, and ‒ 13 m @ 1.4 g/t Au from 160 m
Slide 28: Sorowar – Pigiput Trend
27 Sorowar – Pigiput Trend • Results from drill hole SDH524 include: ‒ 40 m @ 1.8 g/t Au from 95 m, including 23 m @ 2.6 g/t Au from 98 m, including 4 m @ 9.4 g/t Au from 103 m.
Slide 29: Australian Exploration
Australian Exploration
Slide 30: Back Creek – follow up drilling underway
29 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 31: Back Creek – Southwest Targets
30 Back Creek – Southwest Targets • Limited aircore and diamond drilling at the SW target testing a 1km strike length • Best results include: ‒ BKAC0036: 6 m @ 1.60 g/t Au from 97 m, including 1 m @ 5.16 g/t Au from 100 m ‒ BKAC0059: 7 m @ 1.04 g/t Au from 38 m, including 1 m @ 3.37 g/t Au from 39 m
Slide 32: Supplementary slides
Supplementary slides
Slide 33: 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 34: 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 35: Investor Relations enquiries
Investor Relations enquiries INVESTOR RELATIONS MEDIA RELATIONS David Cotterell Citadel-MAGNUS 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 36: St Barbara
St Barbara
St Barbara — Prospectors & Developers Association of Canada (PDAC) Conference 2024 on 6ix