34 slides from St. Barbara's earnings presentation, Jan 23, 2018
Slide 1: Presentation on Q2 December 2017 Quarterly Report and audio webcast
ASX Release / 23 January 2018 For personal use only Presentation on Q2 December 2017 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the Q2 December 2017 Quarterly Report at 11:00 am Australian Eastern Daylight Time (UTC + 11
Slide 2: Q2 December 2017 Quarterly Presentation
BOB VASSIE, MANAGING DIRECTOR & CEO / 23 January 2018 For personal use only Q2 December 2017 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 For personal use only • Highlights • Exploration • Safety • Conclusion • Operations • Appendices 3 / Q2 December 2017 Quarterly Presentation Photo: ROM Stockpile at Simberi, January 2018
Slide 5: Highlights Q2 December 2017
Highlights Q2 December 2017 For personal use only • 100 koz gold produced at AISC1 A$910/oz • 198 koz H1 FY18 gold production exceeded guidance, FY18 production guidance increased • Record production at Simberi of 37 koz for Q2, 133 koz for CY17 • Strong balance sheet with $216M cash at bank and no
Slide 6: Focus on safety
Focus on safety Total Recordable Injury Frequency Rate1 For personal use only 6.0 5.0 4.1 2.4 2.1 1.2 1.2 FY 13 FY 14 FY15 FY16 FY17 Q1 Q2 FY18 FY18 • Increase in TRIFR to 2.4 to 31 Dec 2017 due to four low-severity recordable injuries o Program to prevent recurrence implemented • Corresponding LTIF
Slide 7: Consolidated Q2 FY18 quarter
Consolidated Q2 FY18 quarter AISC (A$/oz) For personal use only 959 910 FY17 average A$907/oz 889 • Consolidated production of 876 862 100 koz (Q1 FY18: 98 koz) Production (koz) • Gwalia 63 koz (Q1: 64 koz) 100 • Simberi 37 koz (Q1: 34 koz) 99 95 98 94 28 30 32 34 37 • Consolidated AISC1 of A$910/oz
Slide 8: Gwalia Q2 FY18 results + FY18 guidance
Gwalia Q2 FY18 results + FY18 guidance AISC (A$/oz) 872 859 For personal use only FY17 average A$785/oz 816 786 716 Q2 Dec 2017 production 11.9 11.3 • 62,835 oz (Q1 FY18: 64,283 oz) 11.2 10.7 • AISC1 A$859/oz (Q1: A$816/oz) FY17 average 10.7 g/t Au 9.2 • Mined grade of 11.2 g/t Au from Reserve grade
Slide 9: Simberi Q2 FY18 results + FY18 guidance
Simberi Q2 FY18 results + FY18 guidance AISC (A$/oz) 1,277 For personal use only FY17 average A$1,187/oz 1,025 1,125 Q2 Dec 2017 production 1,027 994 • Record 36,674 oz (Q1: 33,976 oz) Production (koz) • AISC1 A$994/oz (Q1: 1,027/oz) 36.7 • Improved head grade 34.0 32.1 • Consistent high recovery 30
Slide 10: Simberi Strategic Review – One year on
Simberi Strategic Review – One year on • Decision in 2017 to retain Simberi operating assets was the right one For personal use only • Cash contribution1 since the decision to retain the asset is $91 million • Simberi well placed to achieve improved FY18 production and cost guidance • 52 koz of forw
Slide 11: Gwalia Extension Project update – on schedule
Gwalia Extension Project update – on schedule • Project includes new ventilation shafts • A$11M capex spent in Q2 Dec 2017 and underground crushing of waste, For personal use only • Raise bore activities have commenced, mixed with paste to fill emptied stopes including the drilling of the first pilo
Slide 12: Gwalia Seismic
Exploration | Gwalia Seismic For personal use only Gwalia Seismic Exploration • Initial analysis has informed working theory of Gwalia’s mineralisation • Allows re-analysis of surrounding zone to identify analogous potential ‘repeats’ • 3 target areas identified between 600 and 1,900 mbs north and s
Slide 13: Gwalia Deeps Drilling Program
Exploration | Gwalia Deeps Drilling Program For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 12 / Q2 December 2017 Quarterly Presentation
Slide 14: Gwalia Deeps, Q2 results and FY18 target
Exploration | Gwalia Deeps, Q2 results and FY18 target For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 13 / Q2 December 2017 Quarterly Presentation
Slide 15: Summary of greenfields projects
Exploration | Summary of greenfields projects Pinjin, WA For personal use only • A 15 hole RC and 163 hole Aircore drill program was completed in Q2. • At Grahams Find, RC drilling returned narrow (2 to 6m) intercepts between 1 and 2 g/t Au, and Aircore drilling returned anomalous gold (≥100 ppb Au)
Slide 16: Growth Pipeline
Growth Pipeline Exploration Feasibility Construction Production only Back Creek Australia personal use Pinjin Greater Gwalia Tower Gwalia Catalyst Gwalia Peel Hill Extension Metals Mine 16% Mining 16%. Inorganic growth Evaluating exploration, project, development and operating assets in a range of s
Slide 17: Conclusion
Conclusion • Sustained operational performance, For personal use only record quarter for Simberi • Cash contribution from operations of $79M in the quarter (1H FY18: $165M)1 • $216M cash at bank2, interim dividend to be considered with half year results • Profitable growth options underway: • Gwalia
Slide 18: Appendices
Appendices For personal use only Summer Storms by Finlay Wilkinson, Leonora, Jan 2017 South Sorowar mining pit at Simberi, Ropecon to right, Lihir visible centre distant background. November 2017 17 / Q2 December 2017 Quarterly Presentation
Slide 19: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Q4 Jun Year Q1 Sep Q2 Dec 1H Guidance Consolidated FY17 FY17 FY18 FY18 FY18 FY181 For personal use only Production Gwalia oz 62,098 265,057 64,283 62,835 127,118 250 to 260 koz (prev. 245 to 260) Simberi oz 32,128 116,044 33,976 36,
Slide 20: Gwalia Deeps 1540 – 1580 lode schematic
Gwalia Deeps 1540 – 1580 lode schematic For personal use only Reproduced from ASX release 25 September 2017 ‘Denver Gold Forum 2017’ 19 / Q2 December 2017 Quarterly Presentation
Slide 21: FY18 Guidance - A$16 to A$20 million
Exploration FY18 Guidance - A$16 to A$20 million For personal use only A$8 - A$10 million Gwalia • Gwalia Deep Drilling infill + Intermediates • Gwalia Seismic A$4 - A$5 million Pinjin WA • Aircore drilling of targets identified in FY17 A$4 - A$5 million PNG • Simberi Oxides/Sulphides • Tatau Oxides
Slide 22: Gwalia, Q2 FY18 results
Exploration | Gwalia, Q2 FY18 results For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 21 / Q2 December 2017 Quarterly Presentation
Slide 23: Gwalia, Q2 FY18 results
Exploration | Gwalia, Q2 FY18 results For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 22 / Q2 December 2017 Quarterly Presentation
Slide 24: Pinjin, Q2 FY18 results
Exploration | Pinjin, Q2 FY18 results For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 23 / Q2 December 2017 Quarterly Presentation
Slide 25: Tabar Island group, PNG, Q2 FY18
Exploration | Tabar Island group, PNG, Q2 FY18 For personal use only Tabar Islands • Simberi Pit mapping and geochemical review completed, Cu-Au porphyry hole commenced at Pigiput • Newcrest Option and Farm-in Surface (soil and rock chip) sampling program ongoing at central Tatau and Tupinda • First
Slide 26: Tabar Island group, PNG, Q2 FY18
Exploration | Tabar Island group, PNG, Q2 FY18 For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 25 / Q2 December 2017 Quarterly Presentation
Slide 27: Tatau Island, PNG, Q2 FY18
Exploration | Tatau Island, PNG, Q2 FY18 For personal use only Copper-gold porphyry exploration Newcrest Option and Farm-in • Surface (soil and rock chip) sampling program completed • Talik North prospect identified as priority drill target • First diamond drill hole completed for 997 metres, second
Slide 28: Horsepaddock Well – Leonora province
Exploration | Horsepaddock Well – Leonora province Q2 FY18 commencing geophysical surveys For personal use only at Horsepaddock Well • Previous exploration to 2006 highlighted potential for a granite-intrusive type of deposit under ultramafics • Recent improvements in the depth penetration of IP and
Slide 29: Horsepaddock Well – Leonora province
Exploration | Horsepaddock Well – Leonora province For personal use only For full explanation and results refer to ASX release 23 January 2018 ‘Quarterly Report December 2017’ 28 / Q2 December 2017 Quarterly Presentation
Slide 30: Ore Reserves Summary as at June 2017
Ore Reserves Summary as at 30 June 2017 For personal use only 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) 2,308 9.8 725 6,248 7.0 1,408 8,556 7.8 2,133 Tower Hill, (WA) - - - 2,572 3.7
Slide 31: Mineral Resources Summary as at June 2017
Mineral Resources Summary as at 30 June 2017 For personal use only Measured Indicated Inferred Total Project Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces Tonnes Gold Ounces ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) ('000) (g/t) ('000) Gwalia, (WA) 5,045 7.8 1,265 14,877
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 Alistair Reid Company Secretary Manager Investor Relations T: +61 3 8660 1900 E: info@stbarbara.com.au St Barbara Board and executive June 2016 at Simberi. L to R: Garth Campbell-Cowan (CFO), David Moroney (Non-Executive Director), Bob Va