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Geez, check out the FY25 growth capital expenditure outlook. When will it stop? And it's on top of a high guided all-in sustaining cost (AISC) of $1853/oz, similar to this year.
Northern Star Resources has wrapped up the 2023–24 financial year (FY24) with a record financial performance, supported by its disciplined growth strategy.
The gold producer reported a net profit of $639 million and declared a record dividend, cementing its position as one of the largest ASX-listed gold companies.
Key financial highlights for FY24 included record cash earnings of $1.81 billion, revenue of $4.9 billion, and underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $2.19 billion.
The company also generated underlying free cash flow of $462 million, bolstering its net cash position to $358 million. Shareholders will benefit from a final unfranked dividend of $0.25 per share, bringing the total FY24 dividend to $0.40 per share.
Northern Star managing director Stuart Tonkin said the company’s focus on organic growth and shareholder returns is what produced these results.
“FY24 has been a strong year for Northern Star as we maintained a focus on delivering our organic profitable growth strategy,” he said.
“Our team’s commitment to safety continues our industry-leading performance. Northern Star is well positioned to successfully continue to deliver value for all stakeholders.”
The company achieved its FY24 guidance with gold sales of 1.62 million ounces (Moz) at an all-in sustaining cost (AISC) of $1853/oz. Northern Star’s capital management strategy remains proactive, with its on-market share buy-back extended for another year, leaving $128 million available under the current program.
Northern Star reaffirmed its FY25 guidance, targeting 1.65–1.80Moz of gold sold at an AISC of $1850–2100/oz.
The company’s growth capital expenditure is expected to reach between $950 million and $1.02 billion, with an additional $500–530 million allocated for the KCGM mill expansion. Sustaining capital is forecasted at $200–250/oz.
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Northern Star delivers record earnings
Northern Star delivers record earnings
Northern Star Resources has wrapped up FY24 with a record financial performance, supported by its disciplined growth strategy.
Northern Star Resources has wrapped up the 2023–24 financial year (FY24) with a record financial performance, supported by its disciplined growth strategy.
The gold producer reported a net profit of $639 million and declared a record dividend, cementing its position as one of the largest ASX-listed gold companies.
Key financial highlights for FY24 included record cash earnings of $1.81 billion, revenue of $4.9 billion, and underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $2.19 billion.
The company also generated underlying free cash flow of $462 million, bolstering its net cash position to $358 million. Shareholders will benefit from a final unfranked dividend of $0.25 per share, bringing the total FY24 dividend to $0.40 per share.
Northern Star managing director Stuart Tonkin said the company’s focus on organic growth and shareholder returns is what produced these results.
“FY24 has been a strong year for Northern Star as we maintained a focus on delivering our organic profitable growth strategy,” he said.
“Our team’s commitment to safety continues our industry-leading performance. Northern Star is well positioned to successfully continue to deliver value for all stakeholders.”
The company achieved its FY24 guidance with gold sales of 1.62 million ounces (Moz) at an all-in sustaining cost (AISC) of $1853/oz. Northern Star’s capital management strategy remains proactive, with its on-market share buy-back extended for another year, leaving $128 million available under the current program.
Northern Star reaffirmed its FY25 guidance, targeting 1.65–1.80Moz of gold sold at an AISC of $1850–2100/oz.
The company’s growth capital expenditure is expected to reach between $950 million and $1.02 billion, with an additional $500–530 million allocated for the KCGM mill expansion. Sustaining capital is forecasted at $200–250/oz.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.