• St Barbara Limited
• Website: www.stbarbara.com.au

Industry:

Metals & Mining

Fiscal Year-End:

Jun 08

SBM owns the Southern Cross Operations (producing mines) and the Gwalia Deeps project at Leonora, which is the long-term future of SBM. The resource base of Gwalia Deeps is 14.8Mt at 8.5g/t, mineralisation is open at depth. Gold production from Southern Cross for 4Q07 was 39,734oz at a cash cost of $518/oz. Total mineral resources have been increased by 20% to 10.1Moz. SBM has a number of base-metal projects and is pushing ahead with the Big Gold Study, seeking large deposits (+1Moz).

Management is implementing a strategy to provide options and platforms for growth at Marvel Loch (Southern Cross) and from beneath the Gwalia pit at Leonora (Gwalia Deeps). In terms of dollars, exploration and development is focused on Gwalia Deeps. However, exploration at other sites, Tower Hill, GVG and Marvel Loch is proving successful. Tower Hill, Nevoria and CVG added 1.9Moz to the resource base during 4Q07. SBM can demonstrate a history of increasing resources and reserves.

The company focuses mainly on the production of gold and exploration for gold, nickel and copper.

SBM has large land positions, developed gold processing plants and infrastructure at Southern Cross and Leonora in Western Australia. It will be a major producer in both regions and is aggressively developing its facilities to more than double production. SBM is also re-assessing the potential for resources below old workings on its land and thereby significantly expand reserves. Its Big Gold study is driving the next generation of discoveries by looking below covered areas throughout Australia.

The largest shareholder in SBM is Resource Capital Fund II LP with 22.4%. SBM's major customers would include the retail, wholesale and international markets. Its competitors consist of other mining companies such as Red 5 Limited (RED). The mining industry is a global industry, which is highly competitive.