NST northern star resources ltd

Ann: June 2025 Quarterly Activities Report, page-2

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    Record annual underlying free cash flow; KCGM Mill Expansion enters final build year
    Operating performance
    § SLTIFR1 at 0.5 injuries per million hours worked
    § Record annual Group underlying free cash flow of A$536 million and net mine cash flow of A$1,189 million
    § FY25 gold sold of 1,634koz at AISC of A$2,163/oz, within revised Group guidance range
    § Yandal and Pogo delivered record quarterly and annual net mine cash flow
    § June quarter gold sold totalled 444koz at an AISC of A$2,197/oz (US$1,408/oz)
    o KCGM delivered increased ore tonnes from open pit and underground
    o Jundee and Thunderbox achieved record quarterly milled tonnes to deliver consistent and reliable ounces
    o Pogo gold sales of 85koz as mill delivers record annualised run-rate of 1.6Mtpa
    FY26 outlook
    § FY26 production guidance of 1,700-1,850koz gold sold and AISC of A$2,300-2,700/oz
    § FY26 growth capital guidance of A$2,125-2,270 million (including KCGM Mill Expansion and Operational
    Readiness, and Hemi Development Project); FY26 exploration guidance of A$225 million

    § KCGM Mill Expansion in final build phase year and tracking to plan
    Strong investment-grade balance sheet; no hedge commitments added over last three quarters
    § Updated hedging policy removes mandatory hedge commitments, allowing unwind of hedge book
    § FY25e Cash Earnings2 of A$2,800-2,950 million (vs FY24: A$1,805 million)
    § Net cash3 of A$1,013 million after De Grey acquisition; cash and bullion of A$1,914 million
    § A$300 million on-market share buy-back program 100% complete (average price: A$11.04 per share).
    Last edited by Squinny: Thursday, 08:27
 
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