St. Barbara Ltd. · ASX:SBM

St. Barbara — Q1 FY2017 Earnings Presentation

36 slides from St. Barbara's earnings presentation, Oct 19, 2016

  1. Slide 1: Presentation on Q1 September 2016 Quarterly Report and audio webcast

    ASX Release / 19 October 2016 For personal use only Presentation on Q1 September 2016 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q1 September 2016 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC +

  2. Slide 2: Q1 September 2016 Quarterly Presentation

    BOB VASSIE, MANAGING DIRECTOR & CEO / 19 October 2016 For personal use only Q1 September 2016 Quarterly Presentation

  3. Slide 3: Disclaimer

    Disclaimer For personal use only 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, s

  4. Slide 4: Contents

    Contents  Highlights For personal use only  Safety  Operations  Exploration  Finance – Cash & Debt  Conclusion  Appendices 3 / Q1 September 2016 Quarterly Presentation Pinjin project, WA

  5. Slide 5: Highlights Q1 September 2016

    Highlights Q1 September 2016 ˃ $83 million quarter cash contribution from operations1 (Q4 FY16: A$69 M) ˃ US debt reduced to US$128M at 30 September 2016 For personal use only and to be further reduced to US$73 million at 31 October 2016 ˃ anticipate net cash positive in Q2 December 2016 ˃ Consisten

  6. Slide 6: Start safe, stay safe

    Start safe, stay safe For personal use only Total Recordable Injury Frequency Rate2 Safety performance 9.0 ˃ 30 June 2016 TRIFR1 a record low of 2.1 6.0 ˃ 30 September 2016 another new record of 1.8 5.0 ˃ A greater focus on field based 4.1 safety interactions and ongoing monitoring and communication

  7. Slide 7: Solid production in Q1 September 2016

    Solid production in Q1 September 2016 AISC For personal use only (A$/oz) 992 947 960 935 863 FY16 average A$933/oz Q1 September 2016 quarter ˃ Consolidated company production of Production (koz) 93 koz (Q4 FY16: 92koz) 111 > Gwalia 67 koz (Q4:65 koz) 92 92 92 93 30 > Simberi 25 koz (Q4: 27 koz) 9 28

  8. Slide 8: Gwalia Q1 September 2016 quarter

    Gwalia Q1 September 2016 quarter AISC (A$/oz) 860 846 836 Q1 September 2016 quarter For personal use only 770 774 692 FY16 average A$783/oz ˃ Production of 67,118 oz (Q4: 65,098) Mined Grade ˃ AISC1 of A$774/oz (Q4: A$836/oz) 10.2 10.4 (g/t Au) FY16 average 9.3 g/t Au 9.3 ˃ Mined grade of 10.4 g/t A

  9. Slide 9: Simberi Q1 September 2016 quarter

    Simberi Q1 September 2016 quarter For personal use only Q1 September 2016 quarter AISC (A$/oz) 1,404 1,319 1,359 ˃ Production of 25,429 oz 1,252 1,266 (Q4: 26,935 oz) FY16 average AISC A$1,293/oz ˃ Exceeded 100,000 oz p.a. target run Production (koz) rate for the sixth consecutive quarter 29.4 ˃ AIS

  10. Slide 10: Simberi – Record quarterly throughput

    Simberi – Record quarterly throughput For personal use only Total material moved Mill throughput (Ore + Waste) (kt) (kt) 3,550 967 881 832 743 2,527 2,417 2,348 FY 16 FY 16 FY 16 FY 17 FY 16 FY 16 FY 16 FY 17 Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep 9 / Q1 September 2016 Quarterly Pre

  11. Slide 11: Simberi Strategic Review

    Simberi Strategic Review ˃ Guidance explanation? For personal use only ˃ Impairment? ˃ Strategic review slide 21 ˃ Quarterly graphs? ˃ Confidential discussions are in ˃ An outcome is anticipated during Q2 progress with a number of third December 2016. parties regarding a variety of ˃ In the meantime

  12. Slide 12: Q1 September 2016 Exploration Results

    Q1 September 2016 Exploration Results For personal use only Pinjin, Gwalia May - March 20162016 11 / Q1 September 2016 Quarterly Presentation

  13. Slide 13: Gwalia exploration program - Summary

    Gwalia exploration program - Summary Q1 Sep 2016 Results: Q2 Dec 2016 plan: > 2,200 mbs deep drilling intercepts > Continued deep drilling & For personal use only > Northern Extension intercepts Northern Extension > Seismic campaign For full explanation and results refer to ASX release 19 Oct 2016 ‘

  14. Slide 14: Gwalia Deeps Exploration Q1 September 2016

    Gwalia Deeps Exploration Q1 September 2016 For personal use only For full explanation and results refer to ASX release 19 Oct 2016 ‘Quarterly Report September 2016’ 13 / Q1 September 2016 Quarterly Presentation

  15. Slide 15: Gwalia deep drilling results – 2000-2200 mbs and Northern Extension

    Gwalia deep drilling results – 2000-2200 mbs and Northern Extension For personal use only 2,000 – 2,200 mbs ˃ Second intersection under 2,000 mbs ˃ GWDD18A passed through over 50m of mineralised Mine Sequence at 2,100 mbs. Intercepts from GWD18A:  South West Branch 3.1m @ 7.3 g/t Au from 2,287 mbs

  16. Slide 16: Gwalia Deeps Exploration – Northern Extension

    Gwalia Deeps Exploration – Northern Extension For personal use only For full explanation and results refer to ASX release 19 Oct 2016 ‘Quarterly Report September 2016’ 15 / Q1 September 2016 Quarterly Presentation

  17. Slide 17: Exploration: Pinjin, Leonora WA

    Exploration: Pinjin, Leonora WA For personal use only Pinjin  The Pinjin Project is located 150km northeast of Kalgoorlie WA, comprising a large tenement package of 1,358 km2  514 hole 28,645m aircore program completed during quarter.  Results received for the remaining holes, including:  PJAC33

  18. Slide 18: Exploration: Simberi + Tabar Islands PNG

    Exploration: Simberi + Tabar Islands PNG Simberi For personal use only  Bekou South - drilling of high grade trenching targets during the quarter  Significant number of high grade, oxide, sulphide and transition intersections Tatau  Mt Letam Copper Gold porphyry target 530 diamond drill hole comp

  19. Slide 19: Cash and Debt FY15 and FY16

    Cash and Debt FY15 and FY16 Debt, Cash Balance & Contribution from Operations For personal use only (FY15 to present, USD/AUD millions) 420 AUD Debt2,3 390 367 358 355 USD 325 325 325 299 Debt2 278 311 320 312 249 248 AUD Net Debt5 271 229 216 243 189 168 172 199 134 154 108 115 Cash balance1 100 13

  20. Slide 20: Conclusion

    Conclusion ˃ Consistent low cost production For personal use only ˃ A$83 million quarterly cash contribution from operations1 ˃ Debt reduced by US$40M in quarter, further US$55M reduction due 31 October 2016 ˃ Net cash position anticipated during Q2 December 2016 ˃ Gwalia ventilation study due in Q2

  21. Slide 21: Appendices

    Appendices For personal use only Simberi, March 2016 20 / Q1 September 2016 Quarterly Presentation

  22. Slide 22: Consolidated Production, Costs, Guidance Summary

    Consolidated Production, Costs, Guidance Summary Production Summary Q3 Mar Q4 Jun Year Q1 Sep Guidance Consolidated FY16 FY16 FY16 FY17 FY173 For personal use only Production Gwalia oz 66,147 65,098 267,166 67,118 245 to 265 koz King of the Hills4 oz - - 9,112 - - Simberi oz 25,433 26,935 110,286 25

  23. Slide 23: St Barbara share price vs gold in A$ and US$

    St Barbara share price vs gold in A$ and US$ $4.00 $3,000 For personal use only $3.50 $2,500 $3.00 $2,000 $2.50 $2.00 $1,500 ASX: XGD (RHS x 2) $1.50 $1,000 US$ gold (RHS) $1.00 $500 $0.50 SBM (LHS) $0.00 $0 30 Jun 15 30 Sep 15 31 Dec 15 31 Mar 16 30 Jun 16 30 Sep 16 Source: IRESS to 17 Oct 2016 22

  24. Slide 24: Gwalia – new Seismic exploration campaign

    Gwalia – new Seismic exploration campaign ˃ Use sound waves reflecting off mineral ˃ Q1 Gwalia, Q2 ‘Greater Gwalia’ For personal use only formations to explore. ˃ Leading edge use of sensors down deep ˃ Used successfully by other WA Gold drill holes miners 23 / Q1 September 2016 Quarterly Presentati

  25. Slide 25: Exploration: Pinjin WA

    Exploration: Pinjin WA Results Q1 September 2016 For personal use only 24 / Q1 September 2016 Quarterly Presentation For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

  26. Slide 26: Exploration: Pinjin WA

    Exploration: Pinjin WA Results Q1 September 2016 For personal use only 25 / Q1 September 2016 Quarterly Presentation For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

  27. Slide 27: Exploration: Simberi Island Group

    Exploration: Simberi Island Group Results Q1 September 2016 For personal use only 26 / Q1 September 2016 Quarterly Presentation For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

  28. Slide 28: Exploration: Simberi Island Group

    Exploration: Simberi Island Group Results Q1 September 2016 For personal use only 27 / Q1 September 2016 Quarterly Presentation For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

  29. Slide 29: Exploration: Simberi Island Group

    Exploration: Simberi Island Group Results Q1 September 2016 For personal use only 28 / Q1 September 2016 Quarterly Presentation For full explanation and results refer ASX release 19 October 2016 ‘Quarterly Report September 2016’

  30. Slide 30: Cash contribution from operations FY15 to present

    Cash contribution from operations1 FY15 to present Cash contribution from operations1 For personal use only 83 80 70 69 71 69 68 57 63 64 68 59 60 52 37 32 20 19 10 2 10 12 5 8 9 -10 -5 FY15 FY15 FY15 FY15 FY16 FY16 FY16 FY16 FY17 Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun Q1 Sep A$M Le

  31. Slide 31: Debt and hedging at September 2016

    Debt and hedging at 30 September 2016 For personal use only US Senior Secured Notes ˃ US$250 million issued March 2013, US$168 million balance at 30 Jun 2016 ˃ US$40 million repurchased July 2016, US$128 million balance at 30 Sep 2016 ˃ US$55 million redemption due 31 Oct 2016, US$73 million balance

  32. Slide 32: Ore Reserves Summary as at June 2016

    Ore Reserves Summary as at 30 June 2016 Project Proved Probable Total For personal use only Tonnes (k) Au g/t koz Tonnes (k) Au g/t koz Tonnes (k) Au g/t koz Gwalia (WA) 2,286 9.6 702 4,510 7.6 1,105 6,795 8.3 1,808 Tower Hill (WA) - - - 2,572 3.7 306 2,572 3.7 306 Simberi Oxide (PNG) 4,687 1.3 194

  33. Slide 33: Mineral Resources Summary as at June 2016

    Mineral Resources Summary as at 30 June 2016 Project Measured Indicated Inferred Total For personal use only Tonnes Au koz Tonnes Au koz Tonnes Au koz Tonnes (k) Au koz (k) g/t (k) g/t (k) g/t g/t Gwalia 4,951 7.7 1,232 11,773 6.8 2,584 570 4.4 80 17,294 7.0 3,896 (WA) Tower Hill - - - 4,604 3.9 574

  34. Slide 34: Competent Persons Statement

    Competent Persons Statement For personal use only Exploration Results The information in this presentation that relates to Exploration Results for Simberi and Gold Ridge is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr M

  35. Slide 35: Non-IFRS Measures

    Non-IFRS Measures For personal use only We supplement our financial information reporting determined under International Financial Reporting Standards (IFRS) with certain non-IFRS financial measures, including cash operating costs. We believe that these measures provide meaningful information to ass

  36. Slide 36: Investor Relations Enquiries

    Investor Relations Enquiries For personal use only Rowan Cole Garth Campbell-Cowan Company Secretary Chief Financial Officer T: +61 3 8660 1900 E: info@stbarbara.com.au St Barbara Board and executive June 2016 at Simberi. L to R: Garth Campbell-Cowan (CFO), David Moroney (Non-Executive Director), Bo

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