St. Barbara Ltd. · ASX:SBM
St. Barbara — Investor Presentation (March 2005)
27 slides from St. Barbara's investor presentation, Mar 23, 2005
Slide 1: Establish a landbank and explore for gold, nickel and copper
& Establish a landbank and explore for gold, nickel and copper in Australia EB Make strategic acquisitions which have potential for the discovery of major mineral deposits EB Create substantial corporate growth and shareholder wealth, through exploration success over the next two years and beyond
Slide 2: Australian exploration focus
Slide 3: Exploration and development
expiorat developme
Slide 4: Land holding, resources and production overview
© Mineral resources 7.6Moz © Remaining reserves 560koz B Land holding of 10,000km? © 2 gold mining operations EB Gold production 150koz @ cash cost of A$450/oz to Dec 2005 forecast © Produced over 400koz pa over past 8 years
Slide 5: Cash payments and performance bonds
E Totalcash payments of $2M - 28 March 2005 E Replace environmental Performance Bonds of $30M within 60 days EB Additional Performance Bonds of $5.7M - 30 September 2005 E Control of operations - 28 March 2005 : Leonora $14.2M : Southern Cross $12.4M South Laverton § 91M $35.7M i Detailed analysis c
Slide 6: RCF II Facility
E RCF Hl Facility « 840M line of credit — Draw down $11M on Closing Date « $7M to be converted to shares @ 7 cents/share (shareholder appr oval required by 30 Nov 05} & Facility Fee « Royalty at 1.5%, can be reduced to 1% « 0.5% for bank guarantees 8% interest on Bridging Facility draw downs
Slide 7: Mineral resources
Miner al resources « Open Pit 2.8M0z « UG 2.0Mo0z Open Pitreserves 0.2Moz Tarmoola granite on western flank the immediate exp lor ation focus Deep surface drilling of Gwaitia & to estab lish indicated resources
Slide 8: Granite mineral resource of 56Mt for 2.2Moz
e Granite Mineral resource of 56Mt @ 1.2¢/t for 2.2Moz Ie 4.0 -2/tAu (0.6g/t cutoff) >2igit ha
Slide 9: King of the Hills
ie a eA King of the Hills 20,000t at 20g/t for 12,0000z gold * 1897 to 1918
Slide 10: Current pit outline
Current pit outline uN A i ee ees Historic Workings 7.8Mt at 1 Agit (325,0000z) 2001 - 2004 f Historic .. Workings 8 Next stide: 50m down, add granite
Slide 11: Pit outline and gravity
Pitoutihne+50m Grav ity low {in blue} reflects granite Pit located on gravity gradient Grav ity gradient defines important structures Grav ity confirms testing of western flank Also suggests potential immediately to north
Slide 12: Previous owner underground mining and deeps resource
Previous owner - UG mining to 1896 1963 1073mBS SGW - Open Pit to 280mBS 1983 1999 12.5 Decline to 375m E Base of historic underground mining 1,000m & Resource: trterien BOM @ 3. Gg/t far G8 Beeps 6OMt @ tagitfor 421d —E Concept to generate cash is f j Aran with tighes a . radesioun ces. to extend d
Slide 13: Resources, reserves and production at Marvel Loch
— 2.1Moz Resources E 0.5Moz Reserves Production from Marvel Loch Open Pit and Under ground Suspension of Golden Pig April 2005 For ecast gold production for June 2005 quarter 50,0000z i Cash cost $400/oz
Slide 14: Premier Deeps resource
O.ANIt @ 6.298 Au” im iw 80,0000z Au Resources: * OAMt @ 20g4 Au 76,0000z Au EB Lodes areopen at depth Areas between lodes are sparsely dritied B Infill drilling will improve shoot definition Drilling from surface to Underground developments accelerate evaluation exists to 600m Potential to increase
Slide 15: Historic production and exploration
Historic production 1.80z Convergence of str uctur es Most exploration to depth of 100m (except Frasers, Golden Pig and Transvaal} Re-evaluation of all data | @BA Greenstone Beit Granite Shear Zone Gold Mineratisation PGE Target
Slide 16: Red October and Jubilee Well
0k o2 gold 50k» 1ODK oz gota: «50K az gald Suspension of production 30 June 2005 Production 32,0000z ® cash cost $371/oz Strategic focus on Red October and Jubilee Welt Evaluate remainder of land Resources 0.9Moz Reserves 0.2Moz Geological setting of Red October and Jubilee Well similar to Sunrise D
Slide 17: Airborne magnetic map
Airborne magnetic map showing similarities between Red October and Sunrise Dam enviros
Slide 18: Gold associated with granite
er iot & Gold associated with granite Catalina Similarity to geometry at Sunrise Dam Some drilling ineffective SGW 80% owner ship
Slide 19: What Next? Exploration and development strategy
What Next? Exploration & Development Strategy B Yarmoola - dritlgranite and overlying ultramafic rocks along western and northern flanks of pit B Gwatia - commence early deep drilling from the surface to convert at least 1Moz to indicated mineralresource status EB Performance Bonds - reduction progr
Slide 20: Development and production objectives
Development & Production Objectives E Dritling completed by June 2006 BE Feasibility studies December 2006 E Tarmoola plant upgrade to 5Mt EB Ore production from Gwalia Intermediates and Tarmoola open pit Sept 2007 quarter EB Annual production rate 250,0000z
Slide 21: Optimise cashflow from production
Optimise cashflow from production Performance bond reductions MarvelLoch North underground drilling to increase reserves Yilgarn Star surface drilling to test down plunge in mineralised envelope Southern Cross Camp data re-evaluation Nickel sulphide mineralisation potential assessment E Optimise cas
Slide 22: Historical production and resources
Histor icat Production © Paddys Flat, open pit and underground 3.6 B Bluebird, open pit (3Omt @ 1.72/t) 1.5 B Reedys, open pit and underground 0.4 4.9Moz Resources & “Possible Reserves” — Resources (100% owned) total - 11.1mt @ 3.2¢/t for 1.132Moz — Target to expand by drilling to 15mt @ 3.0g/t for
Slide 23: Future annual production target
Future Annual Production Target (commencing approximately March quarter 2006) © OpenPit 1.50mt @ 1.7e/t 70,000 oz & Underground Prohibition 0.25mt @ 4.0¢/t 30,000 oz E Underground Vivians-Consols 0.25mt @ 7.40/t_ 45,000 oz 2.00mt @ 2. 3g/t 145,000 oz & Production of 145,000 ounces per annum initiall
Slide 24: Corporate
Ge Rsupas Ata dy monte 5 ee
Slide 25: Board, management and shareholders
Colin Wise: Non-executive Chairman legal counsel / corporate govemance Eduard Eshuys: Managing Director & CEO Mark Wheatley: Non-executive Director engineer / corporate development Resource Capital Fund |! LP RAB Europe Fund Ltd St James Place Recovery Trust Issued capital
Slide 26: Company milestones timeline
duly 20% Oot 2005 Nery 29 Tew: 27% Feb 2005 Marci: 2008 - Wise & Eshuys appoint ed by shareholders Company had no cash & debt of $8.5M drilling commenced at Meekatharra buy-back of shares & sale of royalty approved Company had ne debt and cash of $4.57M currently hold 85M NuStar shares valued at $4.
Slide 27: Landbank
Landbank Mineral resources Current reserves Skilled workforce Gold production objective 14,800kn? 9.4Moz 560koz 180 people total of 400koz pa by Sept 2007