40 slides from St. Barbara's corporate update, Aug 4, 2011
Slide 1: Presentation to Analysts and Investors at Leonora Operations
St Barbara Limited ACN 009 165 066 Level 14, 90 Collins Street, Melbourne VIC 3000 Locked Bag 9, Collins Street East, Melbourne VIC 8003 Tel +61 3 8660 1900 Fax +61 3 8660 1999 www.stbarbara.com.au For personal use only Presentation to Analysts and Investors at Leonora Operations Attached is a prese
Slide 2: Leonora Operations Investor Site Tour
For personal use only Leonora Operations Investor Site Tour Thursday, 4 August 2011 1
Slide 3: Disclaimer
Disclaimer For personal use only This presentation has been prepared by St Barbara Limited (St Barbara) and is for information purposes only. Nothing in this presentation should be construed as either an offer to sell or a solicitation or an offer to buy or sell St Barbara securities. This presentat
Slide 4: Overview
Overview For personal use only • Company Profile • Gwalia Site Overview • Operations • King of the Hills • Gwalia Mine and Regional Prospectivity Leonora Site Visit August 2011 3
Slide 5: Company Profile
For personal use only COMPANY PROFILE Leonora Site Visit August 2011 4
Slide 6: Gold focused, capable and growing
Gold focused, capable and growing For personal use only Stock code: SBM A t li based Australian b d producer d 258Koz1 258K ASX market capitalisation: $596M3 Ordinary shares: 326M Significant shareholders M&G Group 18.3% Franklin Resources 6.9% Hunter Hall 6.7% Tradewinds 6.4% Producing operations:
Slide 7: Leonora Site Overview
For personal use only LEONORA SITE OVERVIEW Leonora Site Visit August 2011 6
Slide 8: Leonora district is richly endowed with gold
Leonora district is richly endowed with gold For personal use only • 240km north of Kalgoorlie • Host to numerous gold ld deposits • St Barbara mineral resources: 27.7 Mt @ 6.1g/t Au for 5.4 Moz1 • King of the Hills located 42kms NNW of Gwalia • Includes key ground along the Keith Kilkenny lineament
Slide 9: Gwalia - One of Australia's most historic mines
Gwalia‐ One of Australia’s Australia s most historic mines For personal use only 1896 ‐ Welsh syndicate discovers the Gwalia Reef. 1897 ‐ Herbert Hoover buys mine for B i k Moreing Bewick M i 1929 ‐ Hoover becomes 31st President of USA 1963 ‐ Mine closes 4 days before Christmas having produced more
Slide 10: Operating in virgin ground
Operating in virgin ground For personal use only March 2010 Leonora Site Visit August 2011 9
Slide 11: Infrastructure designed for long life
Infrastructure designed for long life For personal use only Power Station Fridge Plant Compressor ROM Sh t Shotcrete t Batch B t h Plant Pl t Pad Fridge Plant BAC’s Paste Fill Plant Processing Plant Mine Office Tailings Primary Vent Fans Storage Facility Leonora Site Visit August 2011 10
Slide 12: Infrastructure is scalable to support deeper mining
Infrastructure is scalable to support deeper mining For personal use only Commissioned and ready for life of mine • Ventilation V il i Fans F – 2 x 1350kW – Final Fi l Duty D 450 m3/sec / @ 4kP 4kPa • Refrigeration – 4 MWr – Upgradable to 8 MWr (2012/13) • Paste Fill Plant – 100 m3/hr (current rate
Slide 13: Gwalia Operations
For personal use only GWALIA OPERATIONS GWALIA – ONE OF AUSTRALIA’S ICONIC GOLD MINES Leonora Site Visit August 2011 12
Slide 14: Stable FY11 safety performance - focus for improvement
Stable FY11 safety performance – focus for improvement For personal use only Leonora TRIFR Moving Average (12mma) 16 14 12 10 8 6 4 2 0 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun TRIFR 12mma (Total Recordable Injury Frequency Ratio) Leonora Site Visit August 2011 13
Slide 15: FY gold production up 20%
FY 11 gold production up 20% For personal use only • FY 2011 Performance • Gold production 131koz • Cash operating costs A$765/oz • Hoover Decline – 1,358 mbs • Mine development for the year was 5,993m • Challenges addressed during year • Rain event interrupted operations in Feb 2011 • Operating in
Slide 16: Gwalia FY12 forecast gold production up 40%
Gwalia FY12 forecast gold production up 40% For personal use only Operations Guidance • Underground • Production 175-190 koz – 700,000 700 000 to 730 730,000 000 t • Grade 88.0-8.5 0 8 5 g/t Au – Hoover Decline to • Cash costs 1,450mbs , byy end FY12 $610 640/ $610–640/oz – New stoping method • Cape
Slide 17: Targeting sustainable increases in production rates
Targeting sustainable increases in production rates For personal use only Annualised Ore Mined - Gwalia ktpa 900 800 700 600 500 400 300 200 100 0 Mar-11 Dec-08 Mar-09 Jun-11 Jun-09 Dec-09 Mar-10 Jun-10 Dec-10 Sep-08 Sep-09 Sep-10 Leonora Site Visit August 2011 16
Slide 18: Gwalia Mining Strategy - High Productivity from SWB
Gwalia Mining Strategy ‐ High Productivity from SWB Dual Lift Stoping in SWB For personal use only To maintain grade requires high productivity from SWB :‐ • Minimum 3 independent mining areas, and • Higher bogging rates from each stope Features of Dual Lift Stoping :‐ • North & South access on two
Slide 19: Gwalia mining strategy - stoping sequence
Gwalia mining strategy – stoping sequence For personal use only Dual Lift Stoping in SWB – Mining Sequence FY11 2 1 5 4 Note: Single lift Hanging Wall Span 3 typically 32m (HR=6.15) 8 7 Development fully in ore (no dilution) 6 11 Leonora Site Visit August 2011 18
Slide 20: Gwalia Mining Strategy
Gwalia Mining Strategy Dual Lift Stoping in SWB – Development Layout For personal use only MNL Note : SGS, Main Lode and West Lode development optionality allowed for, but not included in the current mine plan SWB WL SGS 19
Slide 21: Gwalia Mining Strategy
Gwalia Mining Strategy Dual Lift Stoping in SWB – 3 Year Mining Sequence For personal use only FY11 FY12 FY13 FY14 20
Slide 22: Decline bypass
Decline bypass Portal For personal use only • 745 m of development Gwalia Open for bypass yp includingg pit p Bypass yp Decline decline, stockpiles & sumps Decline Old Workings BT • Bypass to avoid a section of poor groundd conditions diti iin upper Decline • Capex $7 $7.2 2 m in FY12 Leonora Site V
Slide 23: Maximising Gwalia's value
Maximising Gwalia’s value For personal use only • Current major j projects p j to unlock further value • Pre‐feasibility study for haulage optimisations at Gwalia including potential for a shaft • Scoping study for Gwalia mill expansion from 1.2Mtpa 1 2Mtpa to 1.8Mtpa • Results due 2H of FY12 • Stru
Slide 24: King of the Hills - New Growth Project
For personal use only KING OF THE HILLS NEW GROWTH PROJECT Leonora Site Visit August 2011 23
Slide 25: 42km to Gwalia mill on existing road
42km to Gwalia mill on existing road For personal use only Leonora Site Visit August 2011 24
Slide 26: King of the Hills successfully commissioned
King of the Hills successfully commissioned For personal use only • Production commenced Mayy 2011 ahead of plan p • FY11 production 7,066oz at cash cost $699 • Full p production from Julyy 2011 • Probable Ore Reserves of 195koz • LOM grade 4.3 g/t Au • LOM production at 55‐60koz pa • FY 12 cash cos
Slide 27: KOTH open stoping in eastern flank
KOTH open stoping in eastern flank Mining Strategy (FY2012 Plan) For personal use only Portal W5115 Level W t Decline West D li E5100 Level E5075 Level E5050 Level W5060 Level E5025 Level E5000 Level E4970 Level E4950 Level East Decline Leonora Site Visit August 2011 26
Slide 28: Leonora recoveries consistently high
For personal use only 94% 95% 96% 97% Jul-10 Aug-10 A Sep-10 S Oct-10 O Nov-10 N Dec-10 D JJan-11 Mill Recovery % Feb-11 F Mar-11 M Apr-11 A May-11 M JJun-11 Leonora recoveries consistently high 27
Slide 29: Gwalia Mine and Regional Prospectivity
For personal use only GWALIA MINE AND REGIONAL PROSPECTIVITY POTENTIAL FOR ADDITIONAL RESOURCES IN AND NEAR MINE Leonora Site Visit August 2011 28
Slide 30: Potential reserve upgrade
Potential reserve upgrade For personal use only Leonora Site Visit August 2011 29
Slide 31: Potential for several lodes to be mined
Potential for several lodes to be mined For personal use only Leonora Site Visit August 2011 30
Slide 32: Drilling targets for FY12
Drilling targets for FY12 For personal use only • Gwalia Deeps • completed Phase 2 • Leonora • 3,000m identified for testing deep conceptual targets with potential for >1Moz • New Targets • to be identified by studies studies, provides 10,000m for geochemical air-core & RC drilling • Yerilla, Corona
Slide 33: Competent Persons Statement
Competent Persons Statement For personal use only Significant gold intersections and geological interpretations contained in this report have been compiled by Mr. Phillip Uttley. Uttley Mr. Mr Uttley is a Fellow of The Australasian Institute of Mining and Metallurgy and is a full time employee of th
Slide 34: For personal use only
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Slide 35: Appendices
For personal use only Appendices Leonora Site Visit August 2011 34
Slide 36: Leonora & Operation Location
Leonora & Operation Location For personal use only Trump / Kailis Harbour Lights Leonora Airport Leonora SBM Camp Tower Hill Eastern Borefield Gwalia Mine 5 km Leonora Site Visit August 2011 35
Slide 37: Leonora people summary
Leonora people summary For personal use only • 510 personnel onsite • 130 SBM (inc (inc. 20 contractors) • 225 Barminco • 155 Other (Drilling, Catering, Maintenance) • Local and FIFO (Perth) • State of the Art Village Facilities • Golden Gecko Award for S t i bilit Sustainability • Expansion underwa
Slide 38: Stress Results - lower than expected
Stress Results – lower than expected For personal use only Stress Test Results & Yilgarn Block Trends Principal Stress (MPa) 0 50 100 150 200 250 300 0 200 400 Result from HI stress test conducted at the 1130 Level Level. 600 In July 2009 800 Depth (mbs) 1000 1200 1400 1600 1800 2000 HI AE Min Yilga
Slide 39: Gwalia - plan view schematic of lodes
Gwalia – plan view schematic of lodes For personal use only Leonora Site Visit August 2011 38
Slide 40: Investor Relations Enquiries
For personal use only Investor Relations Enquires to: Ross Kennedy Executive General Manager Corporate Services E: ross.kennedy@stbarbara.com.au Rowan Cole General Manager Corporate Services E: rowan.cole@stbarbara.com.au T: +61 3 8660 1900 www.stbarbara.com.au 39