NESRF - Northern Star Resources: Buy The Dips

• Northern Star Resources released its Q4 and FY2021 results earlier this year, reporting quarterly production of ~388,000 ounces at all-in sustaining costs of A$1,631/oz.
• This was an improvement on a sequential basis and has placed the company well on track to meet its guidance mid-point of ~1.6 million ounces in FY2022.
• Looking ahead to FY2026, Northern Star plans to grow production by 25% while improving its cost profile, with potential to this 2.0 million-ounce per annum target.
• Given this favorable combination of growing production at higher margins and an attractive dividend framework, I would view any pullbacks below US$6.95 as low-risk buying opportunities.

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