St. Barbara Ltd. · ASX:SBM
St. Barbara — European Gold Forum 2008
29 slides from St. Barbara's conference presentation, Apr 8, 2008
Slide 1: ASX Shareholders Report - European Gold Forum 2008
ASX Shareholders Report St Barbara European Gold Forum 2008 Attached is a copy of a presentation being given to the European Gold Forum 2008 in Zurich by Mr Eduard Eshuys, Managing Director & CEO. Ross Kennedy Company Secretary 8 April 2008 St Barbara Limited ACN 009 165 066 Level 21, 90 Collins Str
Slide 2: Building a Bigger Future
Building a Bigger Future European Gold Forum 2008 Mr Eduard Eshuys, Managing Director and CEO 11th April 2008 1 1
Slide 3: Who are we?
2 Who are we? ▪ Australian dedicated gold producer, developer and explorer ▪ Land bank + 20k sq kms ▪ Resources of 10.1Moz ▪ Reserves of 2.3Moz ▪ Target 450,000oz pa gold production rate by December Quarter 2008 2 2
Slide 4: Brief History to Date
Brief History to Date Jul 2004 Eshuys & Wise appointed by shareholders Mar 2005 Acquired Sons of Gwalia gold assets Sep 2005 Set target to achieve 150 – 200koz production in FY06 Feb 2006 Set target to achieve rate of 450koz pa by December Quarter 2008 and 1Moz production and 10Moz Reserves by Decem
Slide 5: 1Moz pa Production Target
4 1Moz pa Production Target “To produce 1 million ounces of gold and have reserves of 10 million ounces by the end of 2010” ▪ Target Southern Cross and Leonora production of 600koz pa ▪ Additional growth through potential development of Tarmoola and land bank discoveries ▪ Acquisitions and joint ven
Slide 6: St Barbara Assets
5 St Barbara Assets ▪ A large world class land bank of 20,000+ 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 established regulatory environ
Slide 7: Exploration Strategy
6 Exploration Strategy ▪ Focus on under explored land bank at FY08 Exploration Expenditure* Leonora and Southern Cross Base Metals ▪ Current gold price and improved 11% Southern Cross technology provide new opportunities 28% ▪ Sustain exploration expenditure ~A$25m per annum. Results include: ▪Tower
Slide 8: Capital Structure
7 Capital Structure ▪ Market capitalisation +A$800 million ▪ 994m ordinary shares 800 ▪ 18.9m options (unlisted) 600 ▪ A$100m Convertible Notes million (A$) 400 ▪ Institutional shareholders hold 63% 200 ▪ North America ▪ United Kingdom 0 ▪ Australia Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Dec-06 Jun-07 D
Slide 9: Financial Position
Financial Position As at 31 December 2007 ▪ Cash and equivalents of A$133m ▪ A$100m Convertible Notes ▪ A$0.73 conversion price; 5 year term ▪ A$2.3m leasing debt ▪ Zero gold delivery commitments ▪ A$25m guaranteed bond facility 8 8
Slide 10: Southern Cross Endowment
9 Southern Cross Endowment ▪ Total endowment of 12Moz ▪ Marvel Loch u/g +900,000 tpa ▪ Prospective open pits include: ▪ Nevoria ▪ Transvaal ▪ Edward’s Find ▪ Axehandle ▪ 20+ open pit targets ▪ Open pit production +1.5Mtpa ▪ Mill throughput 2.4Mtpa 9 9
Slide 11: Marvel Loch
Marvel Loch Mill Mining office Main road Marvel Loch Jaccoletti deposit 10 10
Slide 12: Marvel Loch - The Cornerstone
11 Marvel Loch - The Cornerstone Resource: 813,000 oz Reserve: 410,000 oz Underground production + 900,000 tpa 11 11
Slide 13: Leonora Endowment
12 Leonora Endowment ▪ Total endowment +12 Moz ▪ 27 deposits mined historically and represent future opportunities ▪ 5 of the 27 have produced more than 100koz ▪ 2 processing plants with approximately 5Mtpa combined capacity ▪ Significant base metal potential 12 12
Slide 14: Gwalia
Gwalia North Portal Mill Mining Office Resource: 4.0Moz @ 8.9 g/t Reserve: 1.7Moz @ 9.4g/t 13 13
Slide 15: Gwalia - Hoover Decline 98% complete
14 Gwalia - Hoover Decline 98% complete ▪ Decline has reached top of reserves ▪ Underground stress levels in line with feasibility study ▪ Initial production rate of 100,000oz pa on target ▪ Pre-production capex A$160 million 14 14
Slide 16: Gwalia - Successful Drilling to > 2000mbs
15 Gwalia - Successful Drilling to > 2000mbs New SBM holes from surface Decline at 990mbs Reserve to 1600mbs Resource to 1800mbs 15 15
Slide 17: Gwalia - Production Opportunities
16 Gwalia - Production Opportunities 16 16
Slide 18: Exploration Opportunities
17 Exploration Opportunities ▪ Gwalia to Kailis 8 kms ▪ Depth potential ▪ Tower Hill Resource 1.4Moz; 2 km from Gwalia ▪ Resource definition cost at Tower Hill of A$6/oz ▪ Drilling underway on Gwalia-Kailis trend 17 17
Slide 19: Tower Hill
Tower Hill a ali Gw Leonora North 18 18
Slide 20: Tower Hill - Resource 1.4Moz
19 Tower Hill – Resource 1.4Moz 19 19
Slide 21: Tarmoola - Resource 2.1Moz
20 Tarmoola – Resource 2.1Moz ▪ Higher grades exist at depth on the granite- ultramafic contact ▪ Underground mine development potential from base of pit ▪ Drilling underway targeted to extend and increase resources 20 20
Slide 22: Tarmoola Processing Plant
Tarmoola Processing Plant Tarmoola 3.6Mtpa processing plant on care and maintenance 21 21
Slide 23: Tarmoola Underground Potential
22 Tarmoola Underground Potential Underground Resource: 350,000 ounces 3.2Mt @ 3.5g/t 22 22
Slide 24: St Barbara's Ore Reserves Doubled
23 St Barbara’s Ore Reserves Doubled ▪ June 2005 Southern Cross Reserves of 260koz 2 years later… ▪ Production since July 2005 400koz ▪ June 2007 Southern Cross Reserves 600koz ▪ June 2007 Gwalia Reserves 1.7Moz 12,000 Reserves Resources Resources and Reserves (Koz) 10,000 8,000 6,000 7,817 # 6,600
Slide 25: St Barbara's Objectives
24 St Barbara’s Objectives 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 at the under explor
Slide 26: Why St Barbara?
25 Why St Barbara? ▪ 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 25 25
Slide 27: ....thank you
J, “L St Barbara Limited ’
Slide 28: Appendix 1: Summary of Resources and Reserves
Appendix 1: Summary of Resources and Reserves 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 Leonora 12,990 0.9 380
Slide 29: Disclaimer
28 Disclaimer 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 assumptions concerning an