Ann: FY24 Growth Capital, Production and Cost Guidance, page-19

Strong 15 Mile Project Pre-feasibility Results
NPV5 of A$198 million and Post Tax IRR of 20.3% at US$1,700/oz gold price
Highlights
• Ore Reserves: Increased by 7% to 618,000 ounces of contained gold.
• Mineral Resources: Increased by 7% to 836,000 ounces of contained gold.
• Strong Project Economics: Post-tax NPV (discount rate 5%) of C$174 million (A$198 million) and post-tax IRR
of 20.3% using a long-term gold price of US$1,700 per ounce, exchange rates of C$1.00 = US$0.78 and C$1.00
= A$1.14.
• Capital Efficient Outcome: Initial capital of C$182 million (A$207 million) including mine pre-production, mine
fleet, processing, and infrastructure (roads, power distribution, tailings facility, ancillary buildings and water
management).
• Low unit costs: Life of mine All-In Sustaining Cost for this low strip ratio project estimated to be US$992 per
ounce (A$1,445 per ounce).
• Efficient Layout: Consolidation of infrastructure and efficient storage of waste and low-grade materials has
greatly reduced surface disturbance.
• Stable Production Profile: Average 55 – 60 koz gold produced per year over the 11 year life of mine.
• Short Construction and Ramp-Up Time Frame: Optimised starter tailings dam will shorten construction time
frame to <12 months. Utilisation of existing equipment from Touquoy mine will de-risk commissioning and allow
for short ramp up to commercial production.
St Barbara Limited (“St Barbara” or the “Company”) (ASX: SBM) is pleased to announce the completion of the Pre-feasibility