St Barbara Mines Limited Annual Report 2004 ST BARBARA MINES LIMITED ABN 36 009 165 066 and its controlled entities FINANCIAL REPORT 30 JUNE 2004 St Barbara Mines Limited is listed on both the Australian  Stock Exchange and the AIM (London Stock Exchange)  (ticker symbol SBM) with over 11,000 shareholders. The two largest shareholders are Resource Capital Fund II  LP (Denver/Washington) with 21.86 percent and Ocean  Resource Capital Holdings (London) with 10.13 percent  of the issued capital. The Company’s principal asset is a dominant tenement  position in the East Murchison gold  fi  eld and a 100 percent  owned 3 million tonne per annum treatment plant  (currently on care and maintenance) at Meekatharra. The Company is also the largest shareholder in  NuStar Mining Corporation Limited, the 100% owner  and operator of the Paulsens high grade shallow  underground gold mine where the  fi  rst gold pour is  scheduled for May 2005. The Company vision is to become a successful explorer and  developer focused on gold, nickel and copper in Australia. The Annual General Meeting will be held  at 3pm on 29 November 2004 at the Conference Suite,  Level 8, Exchange Plaza, 2 The Esplanade  Perth Western Australia. All shareholders are invited to attend. Annual General Meeting Corporate Pro fi  le Contents Corporate Pro fi  le .......................................................IFC Joint Report by Chairman  and Managing Director ................................................. 2 Management Discussion and Analysis - Financial Review .......................................................... 4 - Meekatharra Operations ............................................. 6 - Meekatharra Landbank ............................................... 8 - NuStar Investment ..................................................... 10 - Resources Statement .................................................. 12 - OH&S, Welfare and Environment ............................ 13 Corporate Goverance .................................................. 14 Five Year Summary ...................................................... 16 Statutory information and  fi  nancial report - Directors’ report ........................................................ 18  - Statement of fi  nancial performance .......................... 27  - Statement of fi  nancial position .................................. 28  - Statement of cash  fl  ows ............................................. 29  - Notes to the  fi  nancial statements ............................... 30  - Directors’ declaration ................................................ 67  - Independent audit report ........................................... 68 Statement of Shareholders .......................................... 70 Shareholder Information ............................................. 72