Northern Star Resources Stock Earnings Reports

Northern Star reported a record FY'25 driven by a favourable gold price and operational execution: underlying free cash flow of $536 million (A$328/oz) and underlying EBITDA of A$3.5 billion (up 60% YoY). The Board declared a record final fully‑franked dividend of A$0.30/sh (A$0.55/sh for FY'25) and completed a A$300 million on‑market buyback — together returning over A$840 million to shareholders in FY'25 and A$2.8 billion historically. The balance sheet is strong, with net cash of A$1.0 billion at 30 June and an investment‑grade rating. Key growth projects remain on track: the Fimiston mill expansion is on time and within budget, targeting ~27 Mtpa throughput and ~900 kozpa sold from FY'29; FY'26 guidance is 1.70–1.85 Moz production at AISC A$2,300–2,700/oz, second‑half weighted. Northern Star added the Hemi development (De Grey acquisition) to its portfolio; final investment decision is contingent on permitting/approvals and engagement with traditional owners. Exploration remains productive (resource 70.7 Moz, reserves 22.3 Moz pre‑Hemi) and cost of resource addition is ~US$20/oz. The company prefers to prioritise organic investments (ROCE improving) over repeating buybacks, while tax shields from the De Grey acquisition will largely impact cash tax from H2 FY'27 onward. Operationally, KCGM’s East Wall remediation is complete, mill expansion commissioning is expected early FY'27, and regional satellite deposits could provide high‑grade feed upside to the Fimiston mill.