36 slides from St. Barbara's earnings presentation, Oct 19, 2016
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 +
Slide 2: Q1 September 2016 Quarterly Presentation
BOB VASSIE, MANAGING DIRECTOR & CEO / 19 October 2016 For personal use only Q1 September 2016 Quarterly Presentation
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
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
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$73 million at 31 October 2016 ˃ anticipate net cash positive in Q2 December 2016 ˃ Consisten
Slide 6: Start safe, stay safe
Start safe, stay safe For personal use only Total Recordable Injury Frequency Rate2 Safety performance 9.0 ˃ 30 June 2016 TRIFR1 a record low of 2.1 6.0 ˃ 30 September 2016 another new record of 1.8 5.0 ˃ A greater focus on field based 4.1 safety interactions and ongoing monitoring and communication
Slide 7: Solid production in Q1 September 2016
Solid production in Q1 September 2016 AISC For personal use only (A$/oz) 992 947 960 935 863 FY16 average A$933/oz Q1 September 2016 quarter ˃ Consolidated company production of Production (koz) 93 koz (Q4 FY16: 92koz) 111 > Gwalia 67 koz (Q4:65 koz) 92 92 92 93 30 > Simberi 25 koz (Q4: 27 koz) 9 28
Slide 8: Gwalia Q1 September 2016 quarter
Gwalia Q1 September 2016 quarter AISC (A$/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$836/oz) 10.2 10.4 (g/t Au) FY16 average 9.3 g/t Au 9.3 ˃ Mined grade of 10.4 g/t A
Slide 9: Simberi Q1 September 2016 quarter
Simberi Q1 September 2016 quarter For personal use only Q1 September 2016 quarter AISC (A$/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
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
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
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
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 ‘
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
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
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
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
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
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
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$55M reduction due 31 October 2016 ˃ Net cash position anticipated during Q2 December 2016 ˃ Gwalia ventilation study due in Q2
Slide 21: Appendices
Appendices For personal use only Simberi, March 2016 20 / Q1 September 2016 Quarterly Presentation
Slide 22: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Q3 Mar Q4 Jun Year Q1 Sep Guidance Consolidated FY16 FY16 FY16 FY17 FY173 For personal use only Production Gwalia oz 66,147 65,098 267,166 67,118 245 to 265 koz King of the Hills4 oz - - 9,112 - - Simberi oz 25,433 26,935 110,286 25
Slide 23: St Barbara share price vs gold in A$ 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
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
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’
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’
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’
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’
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’
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
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
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
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
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
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
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