34 slides from St. Barbara's earnings presentation, Oct 21, 2015
Slide 1: Presentation on Q1 September 2015 Quarterly Report and audio webcast
ASX Release / 21 October 2015 For personal use only Presentation on Q1 September 2015 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q1 September 2015 Quarterly Report at 10:00 am Australian Eastern Daylight Time (UTC +
Slide 2: Q1 September 2015 Quarterly Presentation
BOB VASSIE, MANAGING DIRECTOR & CEO / 21 October 2015 For personal use only Q1 September 2015 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 Results ˃ Exploration ˃ Finance ˃ Conclusion ˃ Appendices 3 / Q1 September 2015 Quarterly Presentation
Slide 5: Highlights Q1 September 2015
Highlights Q1 September 2015 ˃ Record cash contribution from operations3 of $80 million For personal use only ˃ Quarter production for the Company of 111,039 oz (Q4: 99,359 oz) ˃ Gwalia production 72,388 oz (Q4: 57,208 oz) ˃ King of the Hills 9,112 oz, stockpiles exhausted (Q4: 15,014 oz) ˃ Simberi
Slide 6: Start safe, stay safe
Start safe, stay safe For personal use only Total Recordable Injury Frequency Rate2 Safety performance 12.5 ˃ TRIFR1 of 4.1 at 30 September 2015 9.0 ˃ Continued good results for mixed jurisdiction 6.0 underground / open pit 5.0 combination 4.1 4.1 ˃ Simberi Emergency Response Team multi prize winner
Slide 7: Consolidated Gold Production
Consolidated Gold Production For personal use only 1,344 Q1 September FY16 Quarter: 1,042 979 eee 863 ˃ Near record production for FY15 AISC A$1,007/oz 798 Company of 111 koz: 111 111 99 ˃ Gwalia 72 koz (record 77 koz in 98 22 30 Q3 FY15) 17 27 69 12 ˃ Simberi 30 koz - record 12 9 15 13 ˃ Simberi pr
Slide 8: Gwalia: Continued high performance
Gwalia: Continued high performance AISC (A$/oz) For personal use only 1,086 883 Q1 September FY16 Quarter: 860 ˃ Record production of 248 koz in FY15 has FY15 AISC A$841/oz 645 692 continued with 72,388 oz produced in Q1 ˃ Record 254 kt underground ore mined Mined Grade (g/t Au) 9.7 9.7 ˃ Mined ore
Slide 9: King of the Hills: sale completed
King of the Hills: sale completed AISC (A$/oz) Q1 September FY16 Quarter: For personal use only 1,407 ˃ Processing of King of the Hills ore 1,123 completed in Q1 1,106 964 ˃ Sale of King of the Hills mine and Kailis 812 resource completed 15 October 2015 Production (koz) ˃ Consideration for the sale
Slide 10: Simberi: Record production in Q1 September 2015
Simberi: Record production in Q1 September 2015 Q1 September FY16 Quarter: For personal use only AISC (A$/oz) 2,205 ˃ Record production for Q1 of 29,359 oz (Q4: 27,137 oz) 1,619 ˃ Gold production for the quarter comfortably exceeded the 100,000 oz 1,310 1,252 p.a. target run rate 1,149 ˃ Mill achiev
Slide 11: Simberi: Mill reaches 3.5 Mtpa rate, record gold production
Simberi: Mill reaches 3.5 Mtpa rate, record gold production For personal use only Ore milled Gold production last 5 quarters last 12 months 859 11.7 750 768 10.0 9.5 9.4 620 8.9 8.9 536 7.7 6.8 6.5 6.5 5.5 5.0 FY15 FY15 FY15 FY15 FY16 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Q1 Sep Q2 Dec Q3
Slide 12: Highlights: Record cash contribution & record Simberi mining
Highlights: Record cash contribution & record Simberi mining For personal use only Cash contribution by operation1 Simberi ore & waste mined = 2,606 80 1,710 70 68 69 68 = 1,882 59 = 1,618 1,157 = 1,401 = 1,389 1,158 999 905 37 32 20 10 12 896 725 10 2 402 484 460 FY15 FY15 FY15 FY15 FY16 -5 Q1 Sep
Slide 13: Simberi Sulphide Study
Simberi Sulphide Study ˃ During the quarter the Simberi life of mine plan was updated and the For personal use only prefeasibility study (PFS) for the Simberi sulphide project was advanced. ˃ The updated plan indicates that a phased cut over to Sulphide processing, including a period of processing b
Slide 14: Exploration: Focus on near mine targets
Exploration: Focus on near mine targets For personal use only Exploration > Positive results in all exploration projects: > Gwalia Deep Drilling (WA) > Centenary (WA) > Pinjin (WA) > Simberi (PNG) > Banesa (PNG) Figure 1.0 13 / Q1 September 2015 Quarterly Presentation
Slide 15: Exploration: Gwalia Deep Drilling Program
Exploration: Gwalia Deep Drilling Program For personal use only > The full drilling program is aimed at delineating an indicated resource to support the planned shaft studies. > Significant results returned from GWDD13H (all intercepts down hole)1: > Main Lode: 1.2m @ 25.8 g/t Au from 2,104m > South
Slide 16: Exploration: Future Gwalia – Drilling Plan
Exploration: Future Gwalia – Drilling Plan For personal use only Figure 2.1 1. For full explanation and results refer to ASX release 20 October 2015 ‘Quarterly Report September 2015’ 15 / Q1 September 2015 Quarterly Presentation
Slide 17: Exploration: Gwalia West Lode – Long Section
Exploration: Gwalia West Lode – Long Section For personal use only > Ongoing exploration of alternative mining area, ‘West Lode’ has continued to yield high grade intercepts > West lode will be a significant contributor to the Gwalia mine plan, especially relevant to future planning of production ut
Slide 18: Exploration: Centenary
Exploration: Centenary For personal use only > In Q3 FY15 St Barbara conducted electromagnetic (EM) survey work on Centenary Project approximately 60 km north of Leonora, utilising higher resolution EM equipment than has previously been available1 > Six significant anomalies were identified with fou
Slide 19: Exploration: Focus on near mine targets at Simberi
Exploration: Focus on near mine targets at Simberi For personal use only Simberi PNG > Encouraging results from trenching at Pigibo North included: SIMTR932: 50m @ 1.3 g/t Au, including 10m @ 2.6 g/t Au SIMTR934: 40m @ 1.2 g/t Au, including 15m @ 1.8 g/t Au SIMTR952: 55m @ 1.0 g/t Au, including 20m
Slide 20: Exploration: Focus on near mine targets at Simberi
Exploration: Focus on near mine targets at Simberi For personal use only > Big Tabar Island - Banesa: Detailed creek mapping and channel sampling was conducted at Banesa Au-Cu prospect (EL609) during the September quarter. Significant trench sampling results include: > TABTR079: 55m @ 0.3 g/t Au and
Slide 21: Finance: Cash, debt, hedging at September 2015
Finance: Cash, debt, hedging at 30 September 2015 June 2014 June 2015 Sep 2015 A$M A$M A$M For personal use only Cash balance 1 79 77 115 Interest bearing debt FX2 0.9430 0.7713 0.7022 ˃ US Senior Secured Notes US$ 250 196 183 ˃ Red Kite US$ 75 75 66 US$ 325 271 249 ˃ A$ equivalent A$ 330 A$ 342 A$
Slide 22: Conclusion
Conclusion ˃ Record A$80 million cash contribution1 by operations, For personal use only ˃ near record quarter production for company ˃ Debt reduced by US$22 million in quarter ˃ Gwalia continued high performance ˃ Record 254 kt underground ore mined ˃ Simberi ˃ Record production, comfortably exceed
Slide 23: Appendices
For personal use only Appendices 22 / Q1 September 2015 Quarterly Presentation
Slide 24: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Q3 Mar Q4 Jun Q1 Sep Guidance Consolidated FY15 FY15 FY16 FY163 For personal use only Production Gwalia oz 76,954 57,208 72,388 230 - 250 koz (previously 220 to 250 koz) King of the Hills oz 11,836 15,014 9,112 9 koz4 Simberi oz 22,
Slide 25: St Barbara vs ASX and TSX peers – AISC, Production and Enterprise Value
Q4 June 2015 Snapshot: St Barbara vs ASX and TSX peers – AISC, Production and Enterprise Value For personal use only 1,600 Bubble Size = Production Evolution B2Gold (Q4 June 2015, excl. Cowal & La Mancha) 1,400 Oceana Gold 1,200 Northern Star Enterprise Value US M$ 1,000 Iamgold 800 St Barbara 600 P
Slide 26: St Barbara has strong cash generation relative to its peers
St Barbara has strong cash generation relative to its peers For personal use only Source: Deutsche Bank (with permission) 25 / Q1 September 2015 Quarterly Presentation
Slide 27: Overview of operations
Overview of operations ASX 300 listed Company (SBM), founded 1969 Consolidated ˃ Shares on issue For personal use only 495 M ˃ FY15A 377 koz ˃ Market Cap2 A$671 M @ AISC A$1,007/oz ˃ Ore Reserves 30 June 2015 4.0 Moz 1 ˃ FY16F3 349 koz ˃ Mineral Resources 30 June 2015 9.2 Moz 1 @ AISC A$1,033/oz ˃ A
Slide 28: Exploration: Gwalia – Schematic Lode Plan View
Exploration: Gwalia – Schematic Lode Plan View For personal use only 27 / Q1 September 2015 Quarterly Presentation
Slide 29: Exploration: Pinjin, Leonora WA
Exploration: Pinjin, Leonora WA For personal use only > Exploration re-commenced on the Pinjin project within the Yilgarn Province, WA. The Pinjin Project is located 150 km northeast of Kalgoorlie > Several samples of historical drill cuttings sampled in the field during the quarter returned >50 ppb
Slide 30: Ore Reserves Summary as at June 2015
Ore Reserves Summary as at 30 June 2015 Project Proved Probable Total For personal use only Tonnes (k) Au koz Tonnes (k) Au g/t koz Tonnes (k) Au koz g/t g/t Gwalia (WA) 2,100 9.1 614 3,190 9.6 980 5,290 9.4 1,594 Tower Hill (WA) - - - 2,572 3.7 306 2,572 3.7 306 Simberi Oxide (PNG) 3,800 1.5 178 15
Slide 31: Mineral Resources Summary as at June 2015
Mineral Resources Summary as at 30 June 2015 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 (WA) 4,781 7.2 1,112 6,112 9.3 1,833 2,036 5.5 359 12,929 7.9 3,304 King of the Hills - - - 799
Slide 32: 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 Pinjin is based on information compiled by Dr Roger Mustard, who is a Member of The Australasian Institute of Mining and Metallurgy. Dr Musta
Slide 33: 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 34: Investor Relations Enquiries
Investor Relations Enquiries For personal use only Rowan Cole Company Secretary Garth Campbell-Cowan Chief Financial Officer T: +61 3 8660 1900 E: info@stbarbara.com.au 33 / Q1 September 2015 Quarterly Presentation