St. Barbara Ltd. · ASX:SBM
St. Barbara — Q3 2020 Earnings Presentation
28 slides from St. Barbara's earnings presentation, Apr 28, 2020
Slide 1: Presentation on Q3 March FY20 Quarterly Report and audio webcast
ASX Release / 28 April 2020 Presentation on Q3 March FY20 Quarterly Report and audio webcast Craig Jetson, Managing Director & CEO, will brief analysts and institutional investors on the Q3 March FY20 Quarterly Report at 11:30 am Australian Eastern Standard Time (UTC + 10 hours) on Tuesday 28 April
Slide 2: Q3 March FY20 Quarterly Presentation
Craig Jetson, Managing Director & CEO / 28 April 2020 ASX:SBM Q3 March FY20 Quarterly Presentation
Slide 3: Disclaimer
Disclaimer 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, securities in the Compa
Slide 4: Contents
Contents • COVID‐19 • Projects • Highlights • Exploration & Growth • Safety • Conclusion • Operations • Appendices 3 / Q3 March FY20 Quarterly Presentation
Slide 5: St Barbara's response to COVID-19
St Barbara’s response to COVID‐19 St Barbara’s priority during the COVID‐19 pandemic is the health and wellbeing of its people, its partners and suppliers, and the communities in which it operates • No COVID‐19 cases detected at sites SBM COVID‐19 Management Framework • All mines have maintained ope
Slide 6: Highlights Q3 March FY20
Highlights Q3 March FY20 • 92 koz at AISC2 of A$1,405/oz (Q2: 94 koz at A$1,364/oz) Operational • Gwalia achieved 15 years and 2.5 Moz under St Barbara ownership performance • Consolidated full year production anticipated to be at the lower end of the guidance range • Operational cash contribution1
Slide 7: Focus on Safety
Focus on Safety Total Recordable Injury Frequency Rate1 St Barbara LTIFR2 in comparison with Western Australian Mining benchmarks3 5.0 5.0 5.0 4.2 1.9 1.9 3.2 2.1 2.1 0.8 1.2 FY15 FY16 FY17 FY18 FY19 Q1 Q2 Q3 St Barbara WA Gold WA Metal FY20 FY20 FY20 Q3 FY20 • The Total Recordable Injury Frequency
Slide 8: Consolidated Q3 March FY20 Results
Consolidated Q3 March FY20 Results AISC Q3 FY20 AISC1 (A$/oz) 1,421 1,364 1,405 • Consolidated A$1,405/oz 1,073 1,175 (Q2: A$1,364/oz2) • Gwalia A$1,556/oz (Q2: A$1,471/oz) Gold Production • Simberi A$1,629/oz (Q2: A$1,851/oz) (koz) • Atlantic A$951/oz (Q2: A$823/oz) 108 109 94 20 88 92 23 Q3 FY20 P
Slide 9: Gwalia Q3 March FY20 Results
Gwalia Q3 March FY20 Results AISC (A$/oz) 1,559 1,471 1,556 1,230 1,016 Q3 FY20 Production FY19 average $1,027/oz • 39,684 oz produced (Q2: 42,022 oz) Mined grade (g/t Au) • AISC1 A$1,556/oz (Q2: A$1,471/oz) 11.7 10.0 • Mined grade of 8.1 g/t Au (Q2: 8.0 g/t Au) 7.8 8.0 8.1 Reserve grade FY19 7.5 g/
Slide 10: Gwalia total material moved
Gwalia total material moved 262 267 267 • Paste Aggregate Fill (PAF) operational 256 249 3 and being delivered into stopes 32 11 • Ventilation fans operational, 106 115 99 89 delivering 55% of Gwalia Extension 78 Project (GEP) vent benefits • Reaming of the final raise bore ventilation shaft encount
Slide 11: Simberi Q3 March FY20 Results
Simberi Q3 March FY20 Results AISC 1,851 (A$/oz) 1,603 1,629 Q3 FY20 Production 1,229 1,203 FY19 average $1,162/oz • 25,831 oz (Q2: 23,070 oz) • AISC1 A$1,629/oz (Q2: A$1,851/oz) Milled grade • Milled grade and recovery were both (g/t Au) 1.83 1.68 higher leading to increased production 1.19 1.08 1.
Slide 12: Atlantic Gold Q3 March FY20 Results
Atlantic Gold Q3 March FY20 Results AISC (A$/oz) 957 1,010 970 951 823 Q3 FY20 production • 26,032 oz (Q2: 29,067 oz)1 Milled grade (g/t Au) 1.51 • AISC2 A$951/oz (C$839/oz) 1.22 1.24 1.29 1.24 (Q2: A$823/oz; C$741/oz) • Mill throughput was a quarterly record of Production 693 kt (Q2: 637 kt) as a r
Slide 13: Cash Balance
Cash Balance A$M 1000 890 480 800 Entitle‐ ment Entitle‐ 600 Offer A$780 ment (net Atlantic Offer proceeds) Gold (net 28 Purchase proceeds) 400 410 241 382 200 A$200 draw 320 3 down ‐34 76 79 0 Q4 movement net of: Q1 movement net of: ‐112 Q2 movement net of: ‐112 Q3 movement net of: $20 M growth cap
Slide 14: Summary of Exploration Activity & Expenditure
Summary of Exploration Activity & Expenditure • A$5.5 M spent on exploration activity during the quarter prior to suspension of exploration fieldwork due to COVID‐19 restrictions • Evaluating resumption of exploration within relevant guidelines • Majority of expenditure was in the Leonora region, Pi
Slide 15: "Stronger for Longer" strategy continues
“Stronger for Longer” strategy continues 3 Diversify production base • Gwalia, Simberi, Atlantic, and looking … • Gwalia ‐ finish GEP and reset production profile Sustainable long life operations • Simberi ‐ sulphide project progressing to Board proposal • Atlantic ‐ optimise path to develop add
Slide 16: Growth Pipeline
Growth Pipeline Atlantic Gold (Regional) Atlantic Gold (Moose River Corridor) Tabar Island Group (Au, Au‐Cu) KEY Canada Back Creek Papua New Guinea Australia Leonora Province Equity Investments Atlantic Gold Greater Gwalia (Beaver Dam) Atlantic Gold Pinjin (Cochrane Hill) Peel Mining Aust Potash Atl
Slide 17: Conclusion
Conclusion • Improved safety performance across the Company • Solid quarter of production from all three operations despite COVID‐19 restrictions • Strong cash position of $320 M bolstered by draw down of debt and higher margins • Simberi sulphide PFS validated, proposal to proceed to feasibility st
Slide 18: Appendices
Appendices 17 / Q3 March FY20 Quarterly Presentation
Slide 19: Diversity and Sustainability Developments in Q3 FY20
Diversity and Sustainability Developments in Q3 FY20 St Barbara awarded ‘Employer of Choice for Gender Equality’ for sixth consecutive year by WGEA • St Barbara is the only mining company to receive the citation. • New MD & CEO Craig Jetson appointed as Pay Equity Ambassador Australian bushfires • D
Slide 20: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Year Q1 Sep Q1 Sep Q2 Dec Q3 Mar Q3 YTD Guidance Consolidated FY 19 FY20 FY20 FY20 FY20 FY20 FY20 AG full quarter AG SBM attrib. St Barbara’s financial Year to Qtr to Qtr to Qtr to Qtr to 9 months to Year to year is 1 July to 30 Jun
Slide 21: Exploration | FY20 Guidance – A$30 to A$37 million
Exploration | FY20 Guidance – A$30 to A$37 million Total FY20 exploration guidance now A$30 to A$37 million, down from previous A$31 to A$41 million, comprising: A$5 – A$6 million Leonora A$9 – A$12 million PNG • Drilling focused on regional targets and analysis of • Simberi Oxides/Sulphides and Por
Slide 22: Exploration | Leonora Regional, WA & Tabar Islands, PNG
Exploration | Leonora Regional, WA & Tabar Islands, PNG For full explanation and results refer to ASX release 28 April 2020 ‘Q3 March FY20 Quarterly Report’ 21 / Q3 March FY20 Quarterly Presentation
Slide 23: Hedging Summary at 28 April 2020
Hedging Summary at 28 April 2020 Financial Volume Price Delivery Type Delivery Announced Year ounces $/oz schedule FY20 4,917 A$1,809 Forward May to Jun 2020 Monthly 26 Oct 2018 FY20 8,000 A$1,961 Forward May to Jun 2020 Monthly 24 Feb 2020 1 FY20 10,890 C$1,759 Forward May to Jun 2020 Quarterly 24
Slide 24: Ore Reserves Summary
Ore Reserves Summary Gwalia and Tower Hill reported as at 30 June 2019, Atlantic Gold as at 25 March 2019 and Simberi as at 31 December 2019 Proved Probable Total Project Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) Gwalia, (WA)
Slide 25: Mineral Resources Summary
Mineral Resources Summary Gwalia and Tower Hill reported as at 30 June 2019, Atlantic Gold as at 25 March 2019 and Simberi as at 31 December 2019 Measured Indicated Inferred Total Project Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces ('000) (g/t) ('000) ('000) (g/t) ('0
Slide 26: Non-IFRS Measures and Scheduled Announcements
Non‐IFRS Measures and Scheduled Announcements 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
Slide 27: Competent Persons Statement
Competent Persons Statement 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 Mustard is a full‐time empl
Slide 28: Investor Relations Enquiries
Investor Relations Enquiries Rowan Cole David Cotterell Company Secretary Manager Investor Relations T: +61 3 8660 1900 E: info@stbarbara.com.au 27 / Q3 March FY20 Quarterly Presentation