St. Barbara Ltd. · ASX:SBM
St. Barbara — Q4 2021 Earnings Presentation
31 slides from St. Barbara's earnings presentation, Jul 28, 2021
Slide 1: Presentation on Q4 June FY21 Quarterly Report and audio webcast
28 July 2021 Presentation on Q4 June FY21 Quarterly Report and audio webcast Mr Craig Jetson, Managing Director & CEO, will brief analysts and institutional investors on the Q4 June FY21 Quarterly Report at 11:00 am Australian Eastern Standard Time (UTC + 10 hours) on Wednesday 28 July 2021. Analyst
Slide 2: Q4 June FY21 Quarterly Presentation
Q4 June FY21 Quarterly Presentation Craig Jetson Managing Director and CEO 28 July 2021
Slide 3: Disclaimer
2 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 Com
Slide 4: Acknowledgement of Country
3 Acknowledgement of Country We at St Barbara acknowledge the First Nations people of the ancestral lands on which we operate in Australia, Canada and Papua New Guinea. We pay our respects to all First Nations people, and to Elders past, present, and emerging. We recognise the unique cultural herita
Slide 5: Safety always
4 Safety always TOTAL RECORDABLE INJURY FREQUNCY RATE (TRIFR)1 5.0 3.7 3.9 Safety 3.0 3.1 3.3 Always 2.1 Zero harm is always our target. Zero harm to all people as we responsibly operate our assets to their full potential. This focus FY18 FY19 FY20 Q1 Q2 Q3 Q4 on safety guides FY21 FY21 FY21 FY21 ev
Slide 6: Key achievements Q4 FY21
5 Key achievements Q4 FY21 1. Pathway to establishing 3 mines each with greater than 10 years of operating life: o Leonora Province Plan: update added ~1.4 million ounces to Mineral Resource o Simberi Sulphide Feasibility Study: Progressed the Social and Environmental Impact Statement o Atlantic Ope
Slide 7: Consolidated Q4 FY21 Results
6 Consolidated Q4 FY21 Results AISC (A$/oz) 1,711 Q4 FY21 AISC 1,649 1,623 1,517 1,301 • Consolidated A$1,623/oz (Q3: A$1,649/oz) • Atlantic A$1,011/oz (Q3: A$1,128/oz) • Leonora A$1,663/oz (Q3: A$1,555/oz) GOLD PRODUCTION • Simberi A$2,964/oz (Q3: A$2,426/oz) (koz) 109 Q4 FY21 Production 29 90 73 8
Slide 8: Update on DSTP at Simberi
7 Update on DSTP at Simberi 1 • Mineral Resource Authority (MRA) has granted conditional approval for mining to recommence, with production to ramp up over the weeks ahead • Independent assessment conducted into pipeline failure concluded likely cause of failure to be a localised landslide • New pip
Slide 9: FY22 Guidance
8 FY22 Guidance Operation Production AISC Capex (koz) (A$/oz) ($AM) Sustaining Growth Atlantic Operations 65 – 85 1,305 – 1,5151 15 – 20 30 – 40 Leonora Operations 180 – 200 1,605 – 1,720 65 – 75 15 – 20 Simberi Operations 60 – 70 2,465 – 2,6502 15 – 20 25 – 35 Consolidated 305 – 355 1,710 – 1,860 9
Slide 10: Building Brilliance at St Barbara and future brownfield growth
9 Building Brilliance at St Barbara and future brownfield growth Delivered A$41 M of savings in FY21 Uplift 2: Execute brownfield 18 months – 3 years Uplift 1: Deliver Building expansion projects Brilliance in operations and Deliver Simberi Sulphide and extend mine life 0 – 18 months Atlantic expans
Slide 11: Building Brilliance – Atlantic Operations
10 Building Brilliance – Atlantic Operations Mill 380 • Implemented a larger gravity screen aperture, enabling throughput (tph) 360 better separation and debottlenecked the gravity circuit 22% improvement 340 • Modified the spray bar in the trommel to better screen fine 320 300 material through the
Slide 12: Building Brilliance – Leonora Operations
11 Building Brilliance – Leonora Operations 500 • Reduced the number of hole cleans and redrills by using Production 400 “just in time” drilling for ‘top level down’ drilling in double and drilling(m/day) 300 200 triple lift stopes 9% improvement 100 0 • Implementing WiFi underground has enabled tel
Slide 13: Leonora Province
12 Leonora Province Work undertaken in Q4 has focussed on: • Geological interpretation and wire-framing for the Gwalia Shallows • Completion of an RC drilling program on historical ore stockpiles at Tower Hill • Commencing late in the quarter was an RC drill program testing Falklands Trend, Hawaii,
Slide 14: Update on Atlantic Permitting
13 Update on Atlantic Permitting Touquoy • Increase waste rock storage at site final permits in place by Q3 Mar FY22 • Convert the Touquoy pit into a TSF expected to be in place by Q3 Mar FY22 required for FY23 processing Beaver Dam • Revised EIS (Environmental Impact Statement) – currently in progr
Slide 15: Strong Q4 Performance
14 Strong Q4 Performance • Pathway to establishing 3 mines each with greater than 10 years of operating life: o Provided further updates on Leonora Province Plan o Delivered SEIS addendum on field studies for Simberi Sulphide Project o Completed Feasibility Study for Beaver Dam for internal review •
Slide 16: Supplementary slides
Supplementary slides
Slide 17: Atlantic Q4 FY21 Results
16 Atlantic Q4 FY21 Results AISC (A$/oz) 1,128 Q4 FY21 production 988 1,008 999 1,011 • 26,718 oz (Q3: 20,606 oz) MILLED GRADE • AISC A$1,011/oz (C$956/oz) (g/t Au) 1.41 (Q3: A$1,128/oz (C$1,104/oz) 1.29 1.24 0.96 Production was 30% higher than Q3 Mar FY21 due to 1.11 Reserve grade 1.1 higher grade
Slide 18: Leonora Q4 FY21 Results
17 Leonora Q4 FY21 Results AISC (A$/oz) 2,592 1,389 1,573 1,555 1,663 Q4 FY21 production • 45,157 oz (Q3: 42,716 oz) MINED GRADE (g/t Au) • AISC A$1,663/oz (Q3: A$1,555/oz) 8.1 8.3 • Mined grade of 6.5 g/t Au (Q3: 8.0 g/t Au) 8.0 7.0 6.5 June quarter performance highlighted improvements in ore Reser
Slide 19: Simberi Q4 FY21 Results
18 Simberi Q4 FY21 Results AISC (A$/oz) 2,964 Q4 FY21 production 2,426 2,070 1,678 1,467 • 10,824 oz (Q3: 18,981 oz) • AISC A$2,964/oz (Q3: A$2,426/oz) MILLED GRADE (g/t Au) • Milled grade at 1.30 g/t Au (Q3: 1.12 g/t Au) 1.31 1.3 1.3 1.3 Production was impacted by the shutdown of mining operations
Slide 20: Consolidated production, costs and guidance summary
19 Consolidated production, costs and guidance summary Production Summary Year Q1 Sep Q2 Dec Q3 Mar Q4 Jun Year Guidance Guidance Consolidated FY20 FY21 FY21 FY21 FY21 FY21 FY21 FY22 St Barbara’s financial year is Year to Qtr to Qtr to Qtr to Qtr to Year to Year to Year to 1 July to 30 June 30 June
Slide 21: Hedging summary as at 28 July 2021
20 Hedging summary as at 28 July 2021 Financial Volume Price Type Delivery Delivery Announced Year Ounces $/oz schedule Jul 21 to Dec 22 66,010 C$2,050 European call options Jul 2021 to Dec 22 Monthly 24 Feb 20201 1. The European call options replaced previous forward contacts priced at C$1,550/oz.
Slide 22: Leonora Province
21 Leonora Province Indicative timeline for development LGA/ Other Ore purchase / Tolling Gwalia Intermediates | Development & production 7 Feasibility & mine planning Gwalia Shallows' Development & production . Drilling, Feasibility & mine planning Jasper Region (open | & permitting pit development
Slide 23: Exploration
22 Exploration Gwalia near mine and regional targets A$10 M - $11 M exploration budgeted for FY22 Exploration activity during the year will focus on: • Targets between the Gwalia mine, Tower Hill and Harbour Lights, with particular focus on testing potential high grade extensions to known deposits •
Slide 24: Exploration
23 Exploration Nova Scotia A$7 M – $8 M exploration budgeted in Canada for FY22 Exploration activity during the year will focus on: • Moose River Corridor – drill testing several targets immediately adjacent to and along strike from known deposits • Northeast Regional – drill test the highest ranked
Slide 25: Exploration
24 Exploration Simberi Island A$5 M – $6 M exploration budget in PNG for FY22 Exploration activity during the year will focus on: • Continued drilling at six oxide targets on Simberi Island with the aim of defining additional Inferred and Indicated Resources • Initial drilling will target Cell Tower
Slide 26: Project pipeline
25 Project pipeline KEY Canada Papua New Guinea Regional Nova Scotia Australia Equity Investments Moose River Corridor Simberi Island Cochrane Hill (oxides) Back Creek Simberi Sulphides Greater Gwalia Leonora Province Kin Mining1 Pinjin Gwalia Shallows Touquoy Mine (19%) Peel Mining Aust Potash2 Gwa
Slide 27: Ore Reserves summary at 30 June 2020
26 Ore Reserves summary at 30 June 2020 Proved Probable Total Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Project ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) Gwalia, (WA) 1,583 8.0 409 7,824 5.9 1,483 9,407 6.3 1,892 Tower Hill, (WA) - - - 2,572 3.7 306 2,572 3.7 306 Sim
Slide 28: Mineral Resources summary at 30 June 2020
27 Mineral Resources summary at 30 June 2020 Measured Indicated Inferred Total Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Project ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) Gwalia, (WA) 3,991 6.4 819 17,403 6.0 3,353 1,201 5.5 214
Slide 29: Competent persons statement
28 Competent persons statement Exploration Results The information in this presentation that relates to Exploration Results 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 employee of St Barbara a
Slide 30: Investor Relations enquiries
Investor Relations enquiries Chris Maitland Head of Investor Relations T: +61 3 8660 1914 E: info@stbarbara.com.au Scheduled ASX Announcements 26 August 2021 FY21 Financial Results Ore Reserves and Mineral Resources Statements
Slide 31: St Barbara
StBarbara