PRICEWATERHOUSE(COPERS @ St Barbara Mines Limited Annual Report 2004 Independent audit report to the memk St Barbara Mines Limited ers of Aidit anininn tee ee Inherent uncertainty regarding continuation as a going concern Scope The financial report and directors’ responsibility Liability is limited by the Accountant's Scheme under the Professional Standards Act 1994 (NSW) The directors of the company are responsible for the preparation and true and fair presentation of the financial report in accordance with the Corporations Act 2001. This includes responsibility for the maintenance of adequate accounting records and internal controls that are designed to prevent and detect fraud and error, and for the accounting policies and accounting estimates inherent in the financial report. The financial report comprises the statement of financial performance, statement of cash flows, accompanying no directors’ declaration for both St Barbara Mines Limited Group (the consolidated entity), for the year ended 30 Ju comprises both the company and the entities it controllec position, statement of financial tes to the financial statements, and the (the company) and the St Barbara Mines ne 2004. The consolidated entity 1 during that year. Without qualification to the opinion expressed above, att As a result of matters described in note 1(a), there is sigr Mines Limited will be able to continue as a going concer! assets and extinguish its liabilities in the normal course ¢ financial report. ention is drawn to the following matter. ificant uncertainty whether St Barbara ‘n and therefore whether it will realise its yf business and at the amounts stated in the This opinion must be read in conjunction with the rest ot  "our audit report. Accounting principles generally accepted in Australia va financial reporting standards. An explanation of the maj accepted in Australia and international financial reportin financial statements. The application of the internationa affected the determination of consolidated net loss for th consolidated equity as at 30 June 2004 to the extent sum ry in certain respects from international or differences between principles generally g standards is presented in note 34 to the | financial reporting standards would have e year ended 30 June 2004 and marised in note 34. . is presented in accordance with the Corporations - mandatory financial reporting requirements in Au 2001. Act 2001, Accounting Standards and other stralia, and the Corporations Regulations e gives a true and fair view, as required by the Corp financial position of St Barbara Mines Limited ani below) as at 30 June 2004, and of their performan orations Act 2001 in Australia, of the d the St Barbara Mines Group (defined ce for the year ended on that date, and In our opinion, the financial report of St Barbara Mines | Limited: PricewaterhouseCoopers ABN 52 780 433 757 QVi 250 St Georges Terrace PERTH WA 6000 GPO Box D198 PERTH WA 6840 DX 77 Perth Australia www.pwe.com/au Telephone +61 8 9238 3000 Facsimile +61 8 9238 3999