St. Barbara Ltd. · ASX:SBM
St. Barbara — Macquarie Gold Rush Conference 2008
36 slides from St. Barbara's conference presentation, Jun 3, 2008
Slide 1: Building a Bigger Future
For personal use only Building a Bigger Future Macquarie – Gold Rush 2008 Mr Eduard Eshuys, Managing Director and CEO 3rd June 2008 1 1
Slide 2: Who are we?
2 Who are we? For personal use only ▪ Australian dedicated gold producer, developer and explorer ▪ Land bank + 18k sq kms ▪ Resources of 10.1Moz ▪ Reserves of 2.3Moz ▪ Experienced Board and Management team 2 2
Slide 3: St Barbara Assets
3 St Barbara Assets For personal use only ▪ A large world class land bank of 18,000+ sq km, of which 7000+ sq km in WA ▪ Only 30% of Southern Cross & Leonora land effectively explored historically ▪ Operations and community infrastructure in place ▪ Potential for production expansion ▪ Well establis
Slide 4: St Barbara's Ore Reserves Doubled
4 St Barbara’s Ore Reserves Doubled For personal use only 12,000 10,000 Resources and Reserves (Koz) 8,000 # 6,000 7,817 6,067 9,140 4,000 6,000 * 2,000 2,300 2,300 1,200 0 260 Jun-05 Jun-06 Jun-07 Dec-07 Reserves Resources # Includes Meekathara and South Laverton Resources; assets sold in October 2
Slide 5: Targeted production growth
Targeted production growth For personal use only “To produce 1 million ounces of gold per annum and have reserves of 10 million ounces by the end of 2010” 1,200 Target 1,000 1mozs Production (Koz) 800 600 400 Forecast 200 165-170kozs 0 FY June-06 FY June-07 FY June-08 By Dec 2010 5 5
Slide 6: Capital Structure
6 Capital Structure For personal use only ▪ Market capitalisation +A$620 million * Market Capitalisation Growth ▪ 994m ordinary shares 800 ▪ A$100m Convertible Notes 600 million (A$) ▪ A$0.73 conversion price; 5 year term 400 ▪ 18.9m options (unlisted) 200 ▪ Included in S&P/ ASX 200 index 0 Jun-04 M
Slide 7: Financial Position
Financial Position For personal use only As at 31 March 2008 ▪ Cash and equivalents of A$84m ▪ including listed securities of A$15m marked-to-market ▪ Marked-to-market value of put options ~A$24m ▪ A$2.3m leasing debt ▪ A$19m environmental bonds 7 7
Slide 8: Update on Gwalia - Leonora
For personal use only Update on Gwalia - Leonora 8 8
Slide 9: Gwalia
Gwalia For personal use only North Portal Mill Mining Office Resource: 4.0Moz @ 8.9 g/t Reserve: 1.7Moz @ 9.4g/t 9 9
Slide 10: Gwalia - Hoover Decline
10 Gwalia - Hoover Decline For personal use only ▪ Decline has reached top of reserves ▪ Initial production rate targeted at 100koz pa ▪ Underground stress levels in line with feasibility study 10 10
Slide 11: Gwalia - Successful Drilling to 2000mbs
11 Gwalia - Successful Drilling to 2000mbs For personal use only Earlier parent drill holes Decline at 1020mbs Reserve to 1600mbs Resource to 1800mbs 11 11
Slide 12: Capital Expenditure
Capital Expenditure For personal use only YTD Revised Apr-08 Forecast FY08 Mining Development 45.6 54.1 Processing Plant & Borefields 25.5 33.5 Mining 6.0 11.1 Power 1.5 1.7 Village 2.0 3.7 Other 8.1 9.9 TOTAL EXPENDITURE 88.7 116.8 12 12
Slide 13: Raise Bore ventilation
Raise Bore ventilation For personal use only Largest Raise Bore in Australia - 800m deep and 5.5m in diametre - completed one month ahead of schedule 13 13
Slide 14: Power Station
Power Station For personal use only Power Station building completed - $1.5m spent ytd; $1.7m forecast 14 14
Slide 15: Refurbished Processing Plant
Refurbished Processing Plant For personal use only 15 15
Slide 16: Leonora Village
Leonora Village For personal use only 102 new self contained rooms 16 16
Slide 17: Tower Hill
For personal use only Tower Hill North 17 17
Slide 18: Tower Hill – Resource 1.4Moz
18 Tower Hill – Resource 1.4Moz For personal use only 18 18
Slide 19: Tower Hill - Cross Section 6802340N
Tower Hill - Cross Section 6802340N For personal use only 19 19
Slide 20: Tarmoola – Resource 2.1Moz
20 Tarmoola – Resource 2.1Moz For personal use only ▪ Higher grades exist at depth on the granite- ultramafic contact ▪ Underground mine development potential from base of pit ▪ Drilling underway to extend and increase resources 20 20
Slide 21: Tarmoola Cross Section
Tarmoola Cross Section For personal use only ▪ High grade shoots on north- east flank intersected include: ▪ 3m @ 14.9g/t from 209m ▪ 4m @ 8.0g/t from 128m ▪ 2m @18.1g/t from 32m ▪ Confirms potential for underground development ▪ Resource estimate of 3.2Mt at 3.5g/t for 350,000 ounces 21 21
Slide 22: Tarmoola - 10900mN Cross Section
Tarmoola - 10900mN Cross Section For personal use only 22 22
Slide 23: Tarmoola – 11420mN Cross Section
Tarmoola – 11420mN Cross Section For personal use only 23 23
Slide 24: Tarmoola
For personal use only Tarmoola 24 24
Slide 25: Tarmoola Processing Plant
Tarmoola Processing Plant For personal use only Tarmoola 3.6Mtpa processing plant on care and maintenance 25 25
Slide 26: Southern Cross Endowment
Southern Cross Endowment For personal use only ▪ Total endowment of 12Moz ▪ Marvel Loch u/g +900,000 tpa ▪ Prospective open pits include: ▪ Nevoria ▪ Transvaal ▪ Edward’s Find ▪ 20+ open pit targets ▪ Open pit production +1.5Mtpa ▪ Mill throughput 2.4Mtpa 26 26
Slide 27: Marvel Loch
Marvel Loch For personal use only Mill Mining office Main road Marvel Loch Jaccoletti deposit 27 27
Slide 28: Marvel Loch - The Cornerstone
28 Marvel Loch - The Cornerstone For personal use only Resource: 813,000 oz Reserve: 410,000 oz Underground production + 900,000 tpa 28 28
Slide 29: Marvel Loch Production
Marvel Loch Production For personal use only 300 Total tonnes mined: 1.5mt Total ounces produced: 204koz Average grade: 4.7g/t 263 250 234 200 205 194 mined tonnes (koz) 167 150 149 130 125 111 100 82 66 62 50 0 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Mar-08 Forecast Ju
Slide 30: Transvaal – Long Section Eastern Lodes
Transvaal – Long Section Eastern Lodes For personal use only Marvel Loch Comparison 1.2km strike length 30 30
Slide 31: GVG Depth Potential
GVG Depth Potential For personal use only ▪ Ore body previously mined as open pit to 105mbs, underground to 230mbs ▪ Decline developed to 300mbs ▪ Previous intersections include: ▪ 28m @ 8.2g/t at 255mbs ▪ 67m @3.9g/t at 320mbs ▪ Drilling below 230mbs at GVG Lode 1 to commence in June 2008 Quarter 3
Slide 32: St Barbara's Objectives
32 St Barbara’s Objectives For personal use only By 2010… “To produce 1 million ounces of gold per annum and have reserves of 10 million ounces by the end of 2010” Beyond 2010… • Current reserves underpin future production • Marvel Loch to 2012 • Gwalia to 2017 • Aggressive exploration to continue a
Slide 33: Why St Barbara?
33 Why St Barbara? For personal use only ▪ Dedicated to gold in Australia ▪ Aggressive but objective explorer ▪ Under explored land bank ▪ Proficient developer ▪ Strong growth profile ▪ Long term reserve profile ▪ Full exposure to gold price upside 33 33
Slide 34: ….thank you
For personal use only ….thank you 34 34
Slide 35: Appendix 1: Summary of Resources and Reserves
Appendix 1: Summary of Resources and Reserves For personal use only Mineral Resources as at 31 December 2007: Region Measured Indicated Inferred Total Tonnes AU koz Tonnes AU koz Tonnes AU koz Tonnes AU koz g/t g/t g/t g/t Southern 2,980 3.6 347 12,690 2.7 1,106 6,070 3.0 579 21,740 2.9 2,032 Cross
Slide 36: Disclaimer
36 Disclaimer For personal use only Note: All Reserves as at 30 June 2007 and Resources as at 31 December 2007 This presentation includes certain statements, estimates and projections with respect to the future performance of St Barbara. Such statements, estimates and projections reflect various ass