St. Barbara Ltd. · ASX:SBM
St. Barbara — Melbourne Mining Club Cutting Edge Series (July 2007)
34 slides from St. Barbara's conference presentation, Jul 18, 2007
Slide 1: Melbourne Mining Club Cutting Edge Series Presentation
ASX Shareholders Report St Barbara For personal use only Melbourne Mining Club Cutting Edge Series Presentation We attach a copy of Mr Eduard Eshuys presentation to the Melbourne Mining Club Cutting Edge Series in Melbourne on 17 July 2007. Ross Kennedy General Manager Corporate Services/Company Sec
Slide 2: Cutting Edge Series
For personal use only Cutting Edge Series Eduard Eshuys, Managing Director & CEO July 2007
Slide 3: Brief History
2 Brief History For personal use only 1969 St Barbara floated as Endeavour Oil Jul 2004 Eshuys & Wise appointed by shareholders Mar 2005 Sons of Gwalia gold assets bought for $38M Oct 2005 Sold Sth Laverton & Meekatharra $48M Jan 2007 Corporate office moved to Melbourne Feb 2007 Gwalia Deeps develop
Slide 4: Our Current Interests
3 Our Current Interests… For personal use only Land bank one of largest in region - 5,000sq km Combined milling capacity 4.2Mt pa Endowment 23M ounces of gold Only 30% of Southern Cross & Leonora land effectively explored The land is highly prospective for major discoveries of gold and base metals.
Slide 5: Capital Structure
4 Capital Structure For personal use only Market Cap A$450M Ords listed on ASX – SBM Notes listed Singapore 836M ord shares Major Shareholders 18M options (unlisted) • Resource Capital A$100M Convertible Funds II and III LP - Notes (137.7 M shares 22.4% on conversion) • JP Morgan Asset Management -
Slide 6: Senior Management Team
5 Senior Management Team For personal use only Ian Bird Chief Operating Officer – Mining Engineer with senior operational management experience in WA,QLD, NT. Most recently GM of Tanami for Newmont Australia producing 430oz pa Peter Thompson GM Exploration – 20yrs experience in gold and nickel , inc
Slide 7: Capital Expenditure
6 Capital Expenditure For personal use only FY 06 &07 FY 08 A$M A$M SX 38 40 Gwalia Deeps 45 110 Exploration 42 20 Total 125 170
Slide 8: Funding as at June 2007
7 Funding as at 30 June 2007 For personal use only A$M Cash & Liquid Investments 113 Bank Debt (anticipated) 50 Funds from Operations + Funds from asset sales + Total 163++
Slide 9: Strong Growth in Reserves
Strong Growth in Reserves For personal use only Reserves* Resources* Jun 06 Jun 07 Jun 06 Jun 07 Sth Cross 0.32 0.60 1.7 1.6 Gwalia 0.85 1.70 2.6 4.1 Other - - 2.8 2.7 Production -0.17 FY 06/07 Total 1.00 2.30 7.1 8.4 *All figures are Moz gold
Slide 10: Southern Cross Operations
9 For personal use only Southern Cross Operations
Slide 11: Gold Production forecast
10 Gold Production forecast For personal use only 70 700 60 600 60 50 500 Cash Cost (A$/oz) Production (Koz) 49.5 40 43.7 45 400 41.6 40.1 38.1 37.8 30 300 20 200 10 100 Target Est. 0 0 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-08
Slide 12: Extensive UG Lodes at Attractive Grades
Extensive UG Lodes at Attractive Grades For personal use only
Slide 13: SX Operations
12 SX Operations For personal use only Marvel Loch production consistent at 800,000 tp.a. Focus now on costs Mill capacity 2.5Mtpa Nevoria underground reserves established Drilling focused on expanding open pit reserves Purchased 174koz put options at A$760/oz securing FY08 revenue
Slide 14: Open Pits Hercules, GVG & Nevoria
13 Open Pits Hercules, GVG & Nevoria For personal use only Total past production 864koz Continued mining at Hercules Drilling GVG for reserves Over 20 additional targets
Slide 15: GVG Open Pit Focus
GVG Open Pit Focus For personal use only ! ! ( ! !( ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !( !! ! ! (! ! ! ! ! ! ! ! ! !! ! ! !! !( ! ! ! ! ! ! ! !! ! ! ! ! ! ! !( !( !(!(!(!( !( !( !( ! ! ! ! ! ! ! ! !( ! !( !(!!(!(!(!(!((!!(!(!(!(!( (! !( (! !( !( !( !(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!(!
Slide 16: Gwalia Deeps
15 For personal use only Gwalia Deeps Reserves 5.6Mt @ 9.4g/t for 1.7 million ounces
Slide 17: Gwalia Deeps Reserves & Resources
16 Gwalia Deeps Reserves & Resources For personal use only
Slide 18: Gwalia Deeps Plan Projection
17 Gwalia Deeps Plan Projection For personal use only
Slide 19: Gwalia Deeps Development
18 Gwalia Deeps Development For personal use only Decline at 770mbs, reduced risk of cost overruns On schedule to reach top of Deeps March Quarter 2008 Ground conditions remain favourable Commencing at rate of 100,000 oz pa Sept Quarter 2008
Slide 20: Gwalia Deeps Development
19 Gwalia Deeps Development For personal use only A$45M already spent on the Hoover decline to June 07 Additional capital expenditure during FY 2008 - A$110M Put options purchased at strike price A$700/oz at average cost of A$6/oz for the reserves of 1.4Moz Cash costs A$395/oz or A$102/tonne Develop
Slide 21: Opportunity
For personal use only Opportunity
Slide 22: Leonora Gold Evaluation
21 Leonora Gold Evaluation For personal use only Gwalia mill <50% utilised from Gwalia Deeps Tower Hill past production 200,000 oz Kailis past production 50,000 oz Kailis resources 3.6Mt @1.9g/t for 220,000 oz Evaluating open pit cut backs at Tower Hill and Kailis
Slide 23: World Class Nickel Sulphide Province
22 World Class Nickel Sulphide Province For personal use only Current reserves and resources of province - 9.8Mt contained Ni as sulphides ~100kt annual production SBM tenements host >100 km strike Least tested segment of nickel sulphide corridor Nickel sulphides intersected $5M base metal budget fo
Slide 24: Leonora Zn-Cu Targets
23 Leonora Zn-Cu Targets For personal use only Jaguar development highlights the prospectivity of our land Jaguar mineralisation starts at 250mbs Drilling within our land generally less than 50m Drill targets identified exploration to be accelerated
Slide 25: Victoria
For personal use only Victoria 24
Slide 26: Victorian Position
25 Victorian Position For personal use only Moved head office in Jan 2007 Three out of six directors Victorian based Australia wide activities to be managed from Melbourne Victorian staff to grow from 10 to 40 over next year 9 staff re-located from Perth
Slide 27: Victorian Exploration
26 Victorian Exploration For personal use only Victorian exploration gold focused Currently has 10 applications encompassing 12 targets Bendigo investment and exploration properties based on St Barbara view of prospectivity
Slide 28: Victorian Applications
27 Victorian Applications For personal use only
Slide 29: Bendigo Mining Limited
28 Bendigo Mining Limited For personal use only St Barbara holds 10% Historical production 22Moz to depth 750m Bendigo 2nd largest Australian gold field after Kalgoorlie Inferred resources 11Moz to depth 1,500m
Slide 30: St Barbara Immediate Objectives
29 St Barbara Immediate Objectives For personal use only Produce 175k oz pa @ A$505/oz cash cost FY 2008 Expand open pit reserves at Southern Cross and Leonora Hoover Decline to top of Deeps by March 08 Complete Gwalia mining development by June 08 Accelerate Leonora nickel sulphide and base metal e
Slide 31: Strong Production Growth
Strong Production Growth For personal use only Annualised Production - Koz pa 500 400 300 200 100 0 Jun Qtr 07 Dec Qtr 08 SX - MLoch UG SX - Surface SX - Nevoria UG Gwalia Deeps Leonora O/C Become 3rd largest listed Australian producer
Slide 32: To Achieve Longer Term Objectives by 2010
31 To Achieve Longer Term Objectives by 2010… For personal use only Expand SX & Leonora production to 600,000 oz pa Move from 3rd quartile of Australian cost curve to 2nd quartile Make discoveries & find extensions at SX & Leonora Pursue growth through acquisitions Accelerate BigGold grass roots and
Slide 33: Objectives by Late 2010
32 Objectives by Late 2010 For personal use only Production of 1Moz gold pa Reserves of 10Moz gold
Slide 34: Disclaimer
33 For personal use only Disclaimer: 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 anticipated results, which assumptions may prove to no
St Barbara — Melbourne Mining Club Cutting Edge Series (July 2007) on 6ix