32 slides from St. Barbara's earnings presentation, Jul 22, 2015
Slide 1: Presentation on the June 2015 Quarterly Report and audio webcast
ASX Release / 22 July 2015 For personal use only Presentation on the June 2015 Quarterly Report and audio webcast Bob Vassie, Managing Director & CEO, will brief analysts and institutional investors on the June 2015 Quarterly Report at 10.00 am Australian Eastern Standard Time (UTC + 10 hours), Wedn
Slide 2: Q4 June 2015 Quarterly Presentation
BOB VASSIE, MANAGING DIRECTOR & CEO / 22 July 2015 For personal use only Q4 June 2015 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 ˃ Highlights For personal use only ˃ Safety ˃ Operations Results ˃ Exploration ˃ Finance ˃ Conclusion ˃ Appendices 3/ Q4 June 2015 Quarterly Presentation
Slide 5: Highlights Q4 June 2015
Highlights Q4 June 2015 ˃ Record full-year production for the Company of 377,387 oz, exceeding the For personal use only upper end of full year guidance (350-370 koz) ˃ Q4 combined production of 99,359 oz (Q3: 111,288 oz): ˃ Leonora production 72,222 oz (Q3: 88,790 oz) ˃ Simberi production 27,137 oz
Slide 6: Start safe, stay safe
Start safe, stay safe For personal use only Total Recordable Injury Frequency Rate2 Safety performance 12.5 ˃ TRIFR1 of 5.0 at 30 June 2015 ˃ Continued good results for mixed 9.0 jurisdiction underground / open pit combination ˃ TRIFR has plateaued due 6.0 to a number of low 4.9 4.7 4.9 5.0 severity
Slide 7: Consolidated Gold Production
Consolidated Gold Production AISC (Consolidated) (A$/oz) For personal use only 1,344 1,153 June Quarter: 1,042 979 ˃ Leonora produced 72,222 oz in FY15 AISC A$1,007/oz 798 the June quarter (Q3: 88,790 oz) 111 ˃ Simberi production comfortably 98 99 91 22 exceeded 100 koz p.a. rate in the 17 13 69 12
Slide 8: Gwalia: St Barbara's cornerstone mine
Gwalia: St Barbara’s cornerstone mine AISC For personal use only (A$/oz) 1,086 June Quarter: 865 883 860 ˃ Record production of 248 koz for FY15 FY15 AISC A$841/oz 645 with 57,208 oz produced in Q4 ˃ Mined ore grade of 8.6 g/t Au higher 77.0 than predicted due to minimised 68.6 dilution and high gra
Slide 9: Gwalia: FY16 production guidance
Gwalia: FY16 production guidance ˃ Production guidance for FY16 is For personal use only 220,000 to 250,000 ounces. ˃ FY15 result proved operational improvements can keep pace with and exceed impacts of increasing depth. ˃ Waste storage underground initiatives have been encouraging and proportion st
Slide 10: King of the Hills: considering strategic options
King of the Hills: considering strategic options For personal use only AISC (A$/oz) 1,407 June Quarter: 1,229 1,123 1,106 ˃ FY15 production of 49,677 oz with 15,014 oz produced in Q4 812 Production (Koz) ˃ Ore containing an estimated 9,410 19.4 ounces of gold was stockpiled at King of the Hills at t
Slide 11: Simberi: June 2015 quarter cash flow positive
Simberi: June 2015 quarter cash flow positive For personal use only AISC (A$/oz) 2,300 2,205 June Quarter: ˃ Record production for Q4 of 1,619 27,137 oz (at AISC1 of A$1,149/oz) 1,310 1,149 ˃ Gold production for the quarter comfortably exceeded the 100,000 oz p.a. target run rate, including 10,005 2
Slide 12: Simberi: Continued improvement in ore milled
Simberi: Continued improvement in ore milled For personal use only Ore milled Gold production last 4 quarters last 9 months 750 768 10.0 9.5 9.4 620 7.7 536 6.8 6.5 6.5 5.5 5.0 FY15 FY15 FY15 FY15 Oct Nov Dec Jan Feb Mar Apr May Jun Q1 Sep Q2 Dec Q3 Mar Q4 Jun 2014 2015 kt koz 11 / Q4 June 2015 Quar
Slide 13: Simberi: Redefining quarter in profitability
Simberi: Redefining quarter in profitability For personal use only Simberi Cash Contribution All-in-sustaining-cost last 4 quarters Simberi Q4 versus comparator companies 10 1,373 1,405 1,346 1,149 1,172 1,112 1,048 2 979 -5 -10 FY15 FY15 FY15 FY15 Q1 Sep Q2 Dec Q3 Mar Q4 Jun A$M A$/oz Note: Mine be
Slide 14: Simberi Sulphide Study
Simberi Sulphide Study ˃ During the quarter the Simberi life of mine plan was updated and the For personal use only prefeasibility study (PFS) for the Simberi sulphide project was advanced. ˃ The updated plan indicates that a phased cut over to Sulphide processing, including a period of processing b
Slide 15: Gold Ridge sale completed
Gold Ridge sale completed ˃ Sale of Gold Ridge Project to Goldridge Comminity (sic) Investment Limited For personal use only (GCIL) completed 6 May 2015. ˃ The project is now owned by a Solomon Islands company associated with local landowners for the first time in the Project’s history. ˃ As part of
Slide 16: Exploration – focus on near mine targets
Exploration – focus on near mine targets For personal use only Exploration > FY16F spend of A$10 million > 55% Western Australia > 45% Papua New Guinea > The FY16 exploration program will largely focus on potential near-mine ore sources at Gwalia and Simberi. > The aim for FY16 is to extend the life
Slide 17: Exploration: Gwalia Deep Drilling Program
Exploration: Gwalia Deep Drilling Program For personal use only > The objective of the program is to extend the Gwalia resource and develop the case for mining below the current resource of 1800mbs1. > The initial parent hole results for Gwalia Deep Drilling reported to ASX on 25 Feb 2015. > Results
Slide 18: Exploration: Future Gwalia – Drilling Plan
Exploration: Future Gwalia – Drilling Plan For personal use only Figure 2.1 1. For full explanation and results refer to ASX release 17 / Q4 June 2015 Quarterly Presentation 21 July 2015 ‘Quarterly Report June 2015’
Slide 19: Exploration: Gwalia West Lode – Cross Section
Exploration: Gwalia West Lode – Cross Section For personal use only Figure 2.2 1. For full explanation and results refer to ASX release 18 / Q4 June 2015 Quarterly Presentation 21 July 2015 ‘Quarterly Report June 2015’
Slide 20: Exploration: Gwalia West Lode – Long Section
Exploration: Gwalia West Lode – Long Section For personal use only > Ongoing exploration of alternative mining area, ‘West Lode’ has revealed some high grade intercepts and lead to improvement in Resource. > It is anticipated that the modelling of West Lode, incorporating the results of recent drill
Slide 21: Exploration – focus on near mine targets at Simberi
Exploration – focus on near mine targets at Simberi For personal use only > Trenching within ML136 was completed at Sorowar Southeast, Pigibo North and Botlu North. Significant trench sampling results include: Sorowar Southeast: SIMTR853: 15m @ 1.9 g/t Au, inc 5m @ 3.3 g/t Au Pigibo North: SIMTR904:
Slide 22: Exploration – focus on near mine targets at Simberi
Exploration – focus on near mine targets at Simberi For personal use only > Big Tabar Island - Banesa: Detailed creek mapping and channel sampling was conducted at Banesa Au-Cu prospect (EL609) during the June quarter. Significant trench sampling results include: TABTR072: 10m @ 0.8 g/t Au TABTR074:
Slide 23: Finance – June 2015
Finance – 30 June 2015 ˃ A$77 million cash at bank1 For personal use only > Decrease in cash balance during the quarter was primarily due to the repurchase of US Notes (see below) and payment of semi-annual interest on the Notes. > Q4 cash contribution from operations A$69 million (Q3: A$69 million)
Slide 24: Conclusion
Conclusion ˃ Record annual production: For personal use only ˃ Leonora, Simberi, Company ˃ Debt reduced by A$73 million in Q4 ˃ Simberi comfortably exceeded 100 koz p.a. run rate target in Q4, at AISC of A$1,149/oz ˃ Gold Ridge Project sold ˃ Guidance for FY16 ˃ Leonora 220 to 250 koz ˃ Simberi 90 t
Slide 25: Appendices
For personal use only Appendices 24 / Q4 June 2015 Quarterly Presentation
Slide 26: Consolidated Production, Costs, Guidance Summary
Consolidated Production, Costs, Guidance Summary Production Summary Q1 Sep Q2 Dec Q3 Mar Q4 Jun Year Guidance Guidance For personal use only Consolidated FY15 FY15 FY15 FY15 FY15 FY15 [3] FY16 Production Gwalia oz 45,391 68,589 76,954 57,208 248,142 235 – 240 koz 220 - 250 koz King of the Hills oz 1
Slide 27: Overview of operations
Overview of operations Simberi Simberi For personal use only Leonora ˃ Open pit mine ˃ Gwalia ˃ FY15 production underground mine 80 koz ˃ FY15 production ˃ FY16F production 248 koz 90 – 110 koz ˃ FY16F production ˃ Near mine targets 220 – 250 koz for exploration Australia ˃ King of the Hills mine (c
Slide 28: Exploration: Future Gwalia – Schematic Lode Plan View
Exploration: Future Gwalia – Schematic Lode Plan View For personal use only Figure 1.0 1. For full explanation and results refer to ASX release 27 / Q4 June 2015 Quarterly Presentation 21 July 2015 ‘Quarterly Report June 2015’
Slide 29: Exploration: Centenary, Leonora WA
Exploration: Centenary, Leonora WA For personal use only > In Q3 St Barbara conducted electromagnetic (EM) survey work on Centenary Project approximately 60 km north of Leonora, utilising higher resolution EM equipment than has previously been available1 > Six significant anomalies were identified w
Slide 30: Competent Persons Statement
Competent Persons Statement Exploration Results For personal use only The information in this report that relates to Exploration Results for Papua New Guinea 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
Slide 31: 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 32: Investor Relations Enquiries
Investor Relations Enquiries For personal use only Rowan Cole Company Secretary Garth Campbell-Cowan Chief Financial Officer T: +61 3 8660 1900 E: info@stbarbara.com.au 31 / Q4 June 2015 Quarterly Presentation