Northern Star Resources (NST) says it is set to continue paying fully-franked dividends after piling up $103.5 million in free underlying cashflow in the six months to December 31, 2014.
In its December quarterly report today, the WA gold miner also points out that its total bank debt has been reduced to just $35 million and is set to be eliminated early in the June Quarter.
The company's strong cashflow and debt position raises the question of what it plans to do with its money, including whether it will increase its dividends.
Northern Star's cashflow stemmed from the sale of 142,556oz in the December quarter at an all-in sustaining cost of A$1073/oz.
It finished the quarter with cash and cash equivalents of $119.1 million, up from $101.5 million at the end of September.
“We took the perfect hat-trick in the December Quarter,” Managing Director Bill Beament said. “Our strong production and low cost base averaged across our assets underpinned the outstanding cashflow, which in turn enables us to fund an aggressive exploration program which is already generating results that will lead to increased mine lives.
“We are also set to enjoy the benefits of a gold price which has increased A$200/oz since the end of the December Quarter.
In its December quarterly report today, the WA gold miner also points out that its total bank debt has been reduced to just $35 million and is set to be eliminated early in the June Quarter.
The company's strong cashflow and debt position raises the question of what it plans to do with its money, including whether it will increase its dividends.
Northern Star's cashflow stemmed from the sale of 142,556oz in the December quarter at an all-in sustaining cost of A$1073/oz.
It finished the quarter with cash and cash equivalents of $119.1 million, up from $101.5 million at the end of September.
“We took the perfect hat-trick in the December Quarter,” Managing Director Bill Beament said. “Our strong production and low cost base averaged across our assets underpinned the outstanding cashflow, which in turn enables us to fund an aggressive exploration program which is already generating results that will lead to increased mine lives.
“We are also set to enjoy the benefits of a gold price which has increased A$200/oz since the end of the December Quarter.