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NESRF - Northern Star Resources: A Look At FY2020 Results
Northern Star Res Ltd
We've finally begun the Q2 earnings season for the Gold Miners Index (GDX), while the ASX-listed gold producers are all busy reporting their fiscal Q4 and FY2020 results. Northern Star Resources (NESRF) is one of the first companies to report, and the intermediate producer had an exceptional quarter, with record gold sales of 262,700 ounces.
These solid results allowed the company to finish at a net cash position for FY2020, with A$700 million in cash and bullion, and A$700 million in bank debt. This significant improvement in the balance sheet was