St Barbara Limited (“St Barbara” or the “Company”) (ASX:SBM) reported a statutory loss after tax of $429 million for
the year ended 30 June 2023, including the non-cash after tax impairments reported in the Half Year Results Report
FY231 of $298 million for the Atlantic Operations and $74 million for the Simberi Operations plus a further non-cash
after tax impairment of $78 million at 30 June 2023 relating to Atlantic Operations and the matters referred to in the
Quarterly Report Q4 FY232
.
The underlying loss after tax for the year was $13 million with EBITDA (excluding significant items) of $114 million3
.
With cashflow from operations of $75 million and the receipt of cash proceeds of $372 million from the sale of
Leonora Assets, the cash available as at 30 June 2023 was $247 million (with no debt) and excludes $47 million
deposited in a restricted account in relation to the Touquoy reclamation security bond. An additional $43 million is
expected to be deposited in a restricted account in relation to the remainder of the C$80 million latest reclamation
security bond estimate. The tax liability on the sale of the Leonora Assets and transaction costs were not yet paid as
at 30 June 2023.
Financial Results summary
FY22 FY23
Revenue (continued and discontinued operations) A$ million 680 697
EBITDA (excluding significant items) A$ million 197 114
EBIT (excluding significant items) A$ million 37 7
Statutory loss after tax A$ million (161) (429)
Underlying profit / loss after tax A$ million 24 (13)
Cash flow from operating activities A$ million 88 52
All-In Sustaining Cost A$/oz 1,848 2,443
Group gold production koz 281 260
Group gold sales koz 276 259
Realised gold price A$/oz 2,457 2,683
Details of the results for the financial year ended 30 June 2023 are set out in the attached Appendix 4E and
Directors’ and Financial Report.
Managing Director and CEO Andrew Strelein said, “Underlying FY23 financial performance reflects the Company’s
inability to achieve the level of improvement in underground ore extraction rates required to offset Gwalia’s declining
mine grade while the headline loss was driven by impairment charges against the Atlantic and Simberi assets referred
to in previous announcements at half-year and in the June quarterly report. We ended the year with the sale of the
Leonora Assets resulting in a strong financial position and a smaller corporate team to focus on delivering value from the Atlantic and Simberi assets”.

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